Timing of Bonus Payment Sample Clauses

Timing of Bonus Payment. EXECUTIVE’s bonus, if any, shall be paid to him after the end of the fiscal year to which it relates, at the time and under the same conditions as other executives of EMPLOYER; provided that any such bonus must be paid to EXECUTIVE not later than April 30 of the year immediately following the fiscal year to which it relates.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Timing of Bonus Payment. The next to last sentence in Section 3, “Compensation,” is hereby amended and restated to read as follows (revision is underlined): You shall be entitled to an annual bonus (“Bonus”) determined under our Annual Performance-Based Incentive Plan for Executive Officers, or any successor plan (the “Bonus Plan”), with your participation to be determined on a pro rata basis to the extent the termination date of this Agreement does not coincide with the end of our fiscal year (such Bonus shall be paid at such time as we pay Bonuses under the Bonus Plan to our other senior executives with respect to such fiscal year, which shall be between January 1 and March 15 after the end of the year).
Sample 1Sample 2Sample 3
Timing of Bonus Payment. Any bonus paid to Executive under Section 4.2 or Section 4.2.2 shall be paid in cash, in one lump sum, at the end of the first fiscal quarter (the “Quarter End Date”) following the close of the Company’s fiscal year in which the bonus was earned. The bonus shall be paid in the first payroll period that ends on, or after, the Quarter End Date. For example, if the Company’s fiscal year ends on January 31st, then a bonus earned for services performed during such fiscal year would be paid in the first payroll period ending on or after April 30th (the Quarter End Date). The Company and Executive shall not have the right to further defer or accelerate the payment of this bonus, except that (a) the Company may further delay the payment of the bonus in the case of an unforeseeable event that prevents the payment or calculation of the bonus, but in such case the bonus shall be paid as soon as administratively practical and shall not be deferred beyond December 31st of the same year, and (b) to the extent that the 6-month delay rule applies to the bonus under Section 5.1.2, the bonus shall be paid in accordance with such rule.
Sample 1
Timing of Bonus Payment. The Office will distribute a report identifying Contractor's performance during calendar year 2007 and the amount of bonus earned as respects each performance measure for such year by October 1, 2008. Payment will be distributed to Contractor, subject to Section 7 below, by October 31, 2008.
Sample 1
Timing of Bonus Payment. Provided the conditions described in Section 1 hereof are met, the Bonus shall be paid in the form of a lump-sum cash payment to the Executive no later than December 31, 2014.
Sample 1

Related to Timing of Bonus Payment

  • Bonus Payment Executive will receive a lump-sum payment equal to one hundred fifty percent (150%) of the higher of (A) the greater of (x) Executive’s target bonus for the fiscal year in which the Change of Control occurs (as in effect immediately prior to the Change of Control) or (y) Executive’s target bonus as in effect for the fiscal year in which Executive’s termination of employment occurs, or (B) Executive’s actual bonus for performance during the calendar year prior to the calendar year during which the termination of employment occurs. For avoidance of doubt, the amount paid to Executive pursuant to this Section 3(b)(iii) will not be prorated based on the actual amount of time Executive is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the termination occurs.

  • Bonus Payments In addition to Base Salary, Executive shall be entitled, during the Employment Term, to participate in and receive payments from all bonus and other incentive compensation plans (as currently in effect, as modified from time to time, or as subsequently adopted) of the Company; provided, however, that nothing contained herein shall grant Executive the right to continue in any bonus or other incentive compensation plan following its discontinuance by the Board (except to the extent Executive had earned or otherwise accumulated vested rights therein prior to such discontinuance).

  • Payment of Bonus Within fifteen (15) days of such termination, the Company shall pay to the Executive his Target Bonus pursuant to Section 3(b), prorated for the number of days of employment completed by the Executive during the year in which his employment terminated.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Incentive Payment During the period of Executive's employment under this Agreement, the Executive shall be eligible to participate in an incentive compensation program implemented by the Board (the "Annual Incentive Bonus").

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

Time is Money Join Law Insider Premium to draft better contracts faster.