Transaction Success Bonus Sample Clauses

Transaction Success Bonus. If the Executive remains continually employed by the Company from the Effective Date through the consummation of a Change in Control (the “Transaction Success Date”), then the Company shall pay a one-time lump sum cash payment (the “Transaction Success Bonus”) equal to fifty percent (50%) of the Executive’s then current base pay to the Executive. Such payment will be made on the same date the Company pays its annual incentive bonus to employees for the year in which the consummation of the Transaction Success Date occurs. As an example only, if a Transaction Success Date occurs in 2014, the payout would be in February 2015 on the same date the Company pays employees whatever amount was earned, if any, under the 2014 annual incentive bonus program (the Payment Date”). Notwithstanding the foregoing, if the Executive’s continuous employment with the Company is terminated prior to the Payment Date (a) by the Company without Cause (as defined below) or (b) by the Executive for Good Reason (as defined below), the Company shall pay the Transaction Success Bonus to the Executive upon consummation of the Change in Control at the time and in the amount the Executive would otherwise receive such payment if the Executive had remained continuously employed by the Company on the Payment Date.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Transaction Success Bonus. In consideration of and subject to the continuation of employment with the Company by Employee and his contribution toward the consummation of a Transaction, in the event that a Transaction is consummated on or prior to January 18, 2003 (a “Qualified Transaction”), the Employee shall be entitled to an additional cash bonus amount (the “Success Bonus”) equal to 1.25% of the amount by which the Aggregate Net Proceeds (as hereinafter defined) exceeds the Premium Price (as defined in Schedule B attached hereto). In the event that a Qualified Transaction is consummated within forty-five (45) days after a Qualified Termination Event, Employee shall be entitled to receive 100% of the Success Bonus. The Success Bonus (less all applicable federal, state and local taxes and withholdings) shall be payable in cash to Employee within thirty (30) days after the Closing Date.
Sample 1Sample 2Sample 3See All (4)
Transaction Success Bonus. If the Executive remains continually employed by the Company from the Effective Date through the consummation of a Change in Control (the “Transaction Success Date”), then the Company shall pay a lump sum cash payment to the Executive not later than the 30th day following the Transaction Success Date, a one-time bonus (the “Transaction Success Bonus”), in the amount of $60,000, or if the consideration received by the Company equals or exceeds the first level of target consideration, but not the second level as disclosed to the Executive, the amount of the Transaction Success Bonus shall be $175,000; or if the consideration received by the Company equals or exceeds the second level of target consideration amount as disclosed to the Executive, the amount of the Transaction Success Bonus shall be $275,000. Notwithstanding the foregoing, if the Executive’s continuous employment with the Company is terminated prior to the Transaction Success Date (a) by the Company without Cause (as defined below) or (b) by the Executive for Good Reason (as defined below), the Company shall pay the Transaction Success Bonus to the Executive upon consummation of a Change in Control at the time and in the amount the Executive would otherwise receive if the Executive had remained continuously employed by the Company on that date.
Sample 1See All (4)
Transaction Success Bonus. If the Executive remains continually employed by the Company from the Effective Date through the consummation of a Change in Control (the “Transaction Success Date”), then the Company shall pay a lump sum cash payment to the Executive not later than the 30th day following the Transaction Success Date, a one-time bonus (the “Transaction Success Bonus”), in the amount of $100,000, or if the consideration received by the Company equals or exceeds the first level of target consideration, but not the second level of target consideration as disclosed to the Executive within 90 days of the Effective Date , the amount of the Transaction Success Bonus shall be $300,000, or if the consideration received by the Company equals or exceeds the second level of target consideration as disclosed to the Executive within 90 days of the Effective Date, the amount of the Transaction Success Bonus shall be $500,000. Notwithstanding the foregoing, if the Executive’s continuous employment with the Company is terminated prior to the Transaction Success Date (a) by the Company without Cause (as defined below) or (b) by the Executive for Good Reason (as defined below), the Company shall pay the Transaction Success Bonus to the Executive upon consummation of a Change in Control at the time and in the amount the Executive would otherwise receive if the Executive had remained continuously employed by the Company on that date.
Sample 1
Transaction Success Bonus. Subject to Executive’s continued employment through the applicable date, Executive shall be entitled to receive a transaction bonus in the amount of $1,205,516.46 on the earliest to occur of (x) a Change in Control (as defined in the Second Amended and Restated Limited Liability Company Agreement of 313 Acquisition LLC, as amended from time to time) and (y) January 17, 2021.
Sample 1
Transaction Success Bonus. In addition to the Buyer’s obligations under Section 9.3(a), the Buyer agrees to make the transaction success bonus payments described on Section 1.1(a) of the Disclosure Schedules to the Retained Employees identified thereon. Prior to the Closing, Sellers shall have the right, from time to time, to supplement, modify or update Section 1.1(a) of the Disclosure Schedule in Sellers’ discretion. The Buyer shall make each such transaction success bonus payment less all required and authorized deductions and withholdings. If a Retained Employee’s employment is terminated for Cause or such Retained Employee voluntarily resigns, any unpaid installments of such Retained Employee’s transaction success bonus will be forfeited. If a Retained Employee is terminated without Cause, or if such Retained Employee’s employment is terminated as a result of death or disability, any unpaid installments of the transaction success bonus will be paid to such Retained Employee by Buyer in full in a lump sum upon termination. In addition, if a Retained Employee retires at age 65 or older and such Retained Employee has completed at least one (1) year of service with the Buyer, the Companies or their respective Affiliates after the Closing, any unpaid installments of such transaction success bonus will be paid by the Buyer to such Retained Employee in full in a lump sum upon such Retained Employee’s retirement. If for any reason a transaction success bonus is forfeited by a Retained Employee, or if the Buyer does not, or will not, make a payment described on Section 1.1(a) of the Disclosure Schedules, the Buyer shall promptly notify the Sellers’ Representative and pay such amount to Sellers’ Representative by wire transfer of immediately available funds to an account designated by the Sellers’ Representative for distribution to each Seller in accordance with such Seller’s Pro Rata Share as set forth on Exhibit A. For the avoidance of doubt, the payments described on Section 1.1(a) of the Disclosure Schedules shall not be counted towards the Buyer’s bonus payment obligations in Section 9.3(a). Nothing in this Section 9.3(b) shall obligate the Buyer, the Companies and their respective Subsidiaries to continue the employment of any such Retained Employee for any specific period.
Sample 1
Transaction Success Bonus. If the Executive remains continually employed by the Company from the Effective Date through the consummation of a Change in Control (the “Transaction Success Date”), then the Company shall pay a lump sum cash payment to the Executive not later than the 30th day following the Transaction Success Date, a one-time bonus (the “Transaction Success Bonus”), in the amount of $50,000. Notwithstanding the foregoing, if the Executive’s continuous employment with the Company is terminated prior to the Transaction Success Date (a) by the Company without Cause (as defined below) or (b) by the Executive for Good Reason (as defined below), the Company shall pay the Transaction Success Bonus to the Executive upon consummation of a Change in Control at the time and in the amount the Executive would otherwise receive if the Executive had remained continuously employed by the Company on that date.
Sample 1
AutoNDA by SimpleDocs
Transaction Success Bonus. In recognition of the significant investment by the Executive of time and professional expertise to ensure the successful closing of the IPO, a Transaction Success Bonus in the amount of $75,000 will be paid in cash, less all applicable tax withholdings, not more than thirty (30) days after the closing of the IPO. To receive the Transaction Success Bonus, the Executive must remain actively employed by the Company through the payment date for such Transaction Success Bonus.
Sample 1

Related to Transaction Success Bonus

  • 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.

  • 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.

  • Accrued Salary and Paid Time Off On the Separation Date, the Company will pay you all accrued salary, and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You are entitled to these payments by law.

  • Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • 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 Opportunity The Company shall offer each year an incentive bonus compensation plan. Such plan will include an annual bonus target amount equal to at least 50% of the Executive’s annual base salary and shall contain such additional terms as determined by the Chief Executive Officer. The amount of any bonus payable to Executive in any year shall be based upon performance targets established in advance under the bonus plan and Executive’s achievement of such performance criteria.

  • Long-Term Incentive Awards The Executive shall participate in any long-term incentive awards offered to senior executives of the Company, as determined by the Compensation Committee.

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Target Bonus Executive will be eligible to receive an annual bonus of up to forty percent (40%) of Executive’s Base Salary, less applicable withholdings, upon achievement of performance objectives to be determined by the Board in its sole discretion (the “Target Bonus”). The Target Bonus, or any portion thereof, will be paid as soon as practicable after the Board determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid 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 the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned.

  • Performance Incentive 4.10.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ. 4.10.2 With respect to part of a Year in which the term of this Agreement begins or ends, the relevant quantities in Clause 4.10.1, except the Multiplier, shall apply pro-rata. 4.10.3 Within thirty (30) days of expiry of a Year, the Seller shall submit an invoice to the Purchaser with respect to the PI payable in terms of Clause 4.10.1 and the Purchaser shall pay the amount so due within thirty (30) days of the receipt of the invoice. In the event of non-payment of PI by the due date, the Seller shall have the right to suspend Coal supplies without absolving the Purchaser of its obligations under this Agreement.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!