Transaction Bonus Plan Sample Clauses

Transaction Bonus Plan. For a period commencing on the date of this Agreement and ending one-year after Closing, without the prior written consent of Key, Sellers agree not to amend or modify the transaction bonus plan and the individual award agreements identified on Schedule 5.13(e) in a manner that would increase or decrease, or accelerate or delay the payment of, the benefits thereunder, except for such amendments or modifications as may be required to provide for the payment of separate bonuses at Closing related to Quail Nuclear Specialty Services, LLC, a Texas limited liability company.
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Transaction Bonus Plan. Subject to the terms of the HCC Transaction Bonus Plan, a copy of which is set forth on Schedule 1.9(e) hereto, two payments will be made to Company Employees who are eligible participants thereunder: one payment representing one-half of the total bonus amounts delivered thirty (30) days following the Closing (the “First Half Bonus Payments”) and one payment representing the balance of the total bonus amounts delivered one year after the Closing (the “Second Half Bonus Payments”), each payment subject to acceleration or forfeiture pursuant to the terms of the HCC Transaction Bonus Plan. The First Half Bonus Payments payable to Company Employees are set forth on Schedule 1.9(e) hereto. The Seller shall deliver checks payable to the respective Company Employees representing the First Half Bonus Payments to the Company within thirty (30) days of the Closing. The Buyer agrees to reasonably cooperate in the delivery of these payments by causing the Company to distribute the checks to the appropriate Company Employees, notify the Seller as to the status of such delivery and return any undeliverable checks to the Seller. The Second Half Bonus Payments that could be earned by Company Employees are shown on Schedule 1.9(e) hereto. Such amount shall be an adjustment to the Total Purchase Price as provided in Section 1.1 and the Buyer shall be responsible for the Second Half Bonus Payments. If at any time a Company Employee becomes ineligible to receive such employee’s portion of the Second Half Bonus Payments, the Buyer shall remit the amount of such forfeited Second Half Bonus Payment to the Seller or its designee. The Buyer shall cause the Company to provide Seller with quarterly status reports as to the status of Company Employees in order that the Seller may monitor the balance of the Second Half Bonus Payments.
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Transaction Bonus Plan. The Transaction Bonus Plan shall not have been terminated, rescinded, modified or amended.
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Transaction Bonus Plan. Following the receipt by the Surviving Corporation of the Transaction Bonus Plan Closing Amount in accordance with Section 2.9(c), Buyer shall cause the Surviving Corporation, no later than one (1) Business Day following the Closing, to pay the Transaction Bonus Plan Closing Amount payable to the Transaction Bonus Plan Participants through payroll, subject to applicable Tax withholding obligations, as set forth on the Distribution Schedule.
Sample 1
Transaction Bonus Plan. From and following the Closing, Parent shall, and shall cause the Surviving Corporation to, pay when due any amounts under Transaction Bonus Plan, in accordance and pursuant to the terms and conditions of the Transaction Bonus Plan and the underlying award agreements. To the extent such payments become due and payable, Parent shall pay, or shall cause to be paid, promptly, and in any event within 30 days of the date such payment became due, such payments through Parent’s or the Surviving Corporation’s payroll systems, from the Transaction Bonus Plan Amount retained by Parent from the Estimated Merger Consideration payable at the Closing, any amounts distributed to Parent from the Escrow Amount on behalf of the Management Participants, and any amounts retained by Parent pursuant to Section 1.11(e)(i).
Sample 1
Transaction Bonus Plan. At a meeting duly called and held on August 14, 2007, the board of directors of the Company approved and adopted the XenSource, Inc. 2007 Transaction Bonus Plan (the “Transaction Bonus Plan”), a correct and complete copy of which, together with the allocation schedule thereto, has been provided to Parent. The Transaction Bonus Plan provides for the payment of a maximum aggregate amount of $30,000,000 in cash (the “Transaction Bonus Amount”) to the Employees and in the individual amounts for each such Employee as set forth on the allocation schedule thereto.
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Transaction Bonus Plan. Immediately following the Closing Parent will assume, and will promptly thereafter satisfy, the Company’s obligations under the Transaction Bonus Plan.
Sample 1
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Transaction Bonus Plan. Following the Closing Date the Buyer shall adopt a Transaction Bonus Plan, which shall provide for the payment of transaction bonuses to key employees of the Buyer in the event of, and in connection with, a Company Sale (as such term shall be defined in the Transaction Bonus Plan; provided, that the transactions described in this Agreement shall not constitute a “Company Sale” or trigger the payment of such bonuses). The proposed material terms of the Transaction Bonus Plan are set forth on Schedule 6.17. Table of Contents
Sample 1

Related to Transaction Bonus Plan

  • Transaction Bonus In addition, in the event of a transaction involving a Change in Control, in a transaction approved by the Company's Board of Directors, which transaction results in the receipt by the Company's stockholders of consideration with a value representing, in the sole judgment of the Board of Directors, a significant premium over the average of the closing prices per share of the Company's common stock as quoted on the Nasdaq National Market for 20 trading days ending one day prior to the public announcement of such transaction (a "Change in Control Transaction"), Executive shall be paid a Transaction Bonus at the closing of such a transaction in the amount equal to three (3) times 50% of Executive's Base Salary in effect immediately preceding the closing of such a transaction. Executive shall also be paid said Transaction Bonus if the Company enters into a transaction approved by the Board of Directors which is not a Change in Control Transaction, but which, nonetheless, involves a significant change in the ownership of the Company or the composition of the Board of Directors of the Company, or which results in receipt of a premium for the Company's stockholders (a "Significant Event"). In the event Executive receives a Transaction Bonus, no Achievement Bonus will be paid to Executive in the year in which such Transaction Bonus is paid. If the Company enters into a transaction which is a Change in Control Transaction, then all of the Executive's stock options granted prior to July 27, 1999 shall become exercisable in full and all of the shares of the common stock of the Company awarded to Executive under the Company's 1997 Stock Incentive Plan and the 1993 Stock Option/Stock Issuance Plan prior to July 27, 1999 shall become fully vested. If the Company enters into a transaction which is not a Change in Control Transaction but which is a Significant Event, then the Board of Directors may, in its sole discretion, determine that all, or a portion, of the Executive's stock options granted prior to July 27, 1999 shall become exercisable in full and all, or a portion, of the shares of the common stock of the Company awarded to Executive under the Company's 1997 Stock Incentive Plan and the 1993 Stock Option/Stock Issuance Plan prior to July 27, 1999 shall become fully vested.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Bonus Plan Such bonus, if any, as shall be determined upon the recommendation of the CEO by the Board (or any designated Committee of the Board comprised solely of independent directors), shall be paid in accordance with the terms and conditions of the bonus plan established for the Company (“Bonus Plan”).

  • Bonus Amount For purposes of this Agreement, "Bonus Amount" shall mean the greater of (a) the target annual bonus payable to the Executive under the Incentive Plan in respect of the fiscal year during which the Termination Date occurs or (b) the highest annual bonus paid or payable under the Incentive Plan in respect of any of the three full fiscal years ended prior to the Termination Date or, if greater, the three (3) full fiscal years ended prior to the Change in Control.

  • Change in Control Bonus “Change in Control Bonus” has the meaning set forth in Section 5a(iii)(1).

  • 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 Plans During the term of Employee's employment hereunder, Employee shall be eligible to participate in the Company's annual Executive Incentive Compensation Plan (the "EIC Plan") in accordance with the applicable provisions of the EIC Plan. The standard bonus for Employee under the EIC Plan shall be forty percent (40%) of Employee's base salary.

  • Retention Bonus You will be eligible for a lump sum cash payment on the first anniversary of the Acquisition Date provided that you are employed by the Company as of such date in an amount equal to the sum of (i) 100% of your annual base salary in effect as of the Acquisition Date, plus (ii) 100% of the annual bonus paid to you for the Company’s fiscal year ending December 31, 2008 (such sum, the “First Year Retention Bonus”). You will be eligible for a lump sum cash payment on the second anniversary of the Acquisition Date provided that you are employed by the Company as of such date in an amount equal to the sum of (i) 100% of your annual base salary in effect as of the Acquisition Date, plus (ii) 100% of the annual bonus paid to you for the Company’s fiscal year ending December 31, 2008 (such sum, the “Second Year Retention Bonus”). Except as set forth below, you will not be eligible for the retention bonuses as set forth above if your employment terminates prior to such applicable anniversary. In the event of your Voluntary Termination for Good Reason (as defined below), the termination of your employment by the Company other than for Justifiable Cause, or in the event of your death or “permanent disability” as defined in the Company’s long-term disability policy (i) during the first twelve month period following the Acquisition Date, you will be eligible for a pro rata portion of the First Year Retention Bonus, counting full months of employment with the Company from the Acquisition Date through such termination, and (ii) during the second twelve month period following the Acquisition Date, you will be eligible for a pro rata portion of the Second Year Retention Bonus, counting full months of employment with the Company from the first anniversary of the Acquisition Date through such termination. Any prorated payment pursuant to the preceding sentence shall be made within 10 business days of such termination. If the annual bonus payment for the Company’s fiscal year ending December 31, 2008 has not been paid to you or otherwise determined by the Company as of the date the prorated payment is due, the prorated payment shall be calculated using your target bonus amount for 2008. Payments under this Section 8 shall be net of any applicable withholding taxes. For purposes of this Section 8, “Voluntary Termination for Good Reason” shall have the same meaning as given to such term under the Key Employee Change in Control Severance Plan as in effect immediately prior to the Acquisition Date, but with respect to the First Year Retention Bonus only, determined without regard to clause (ii) thereof.”

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • Bonus Program You will be eligible for an annual target bonus of 35% of your annual base salary as determined by the Board in its sole discretion based upon, among other things, the achievement of pre-determined performance milestones. Any annual bonus, if earned, shall be paid no later than March 15th of the year immediately following the year to which the applicable annual bonus relates.

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