Transition Bonus. The Employee shall be entitled to receive a $640,000 cash bonus payment for certain transition services to be performed by the Employee during the first year of employment (the “Transition Bonus”). The Transition Bonus will be paid in five installments pursuant to the following schedule: DATE AMOUNT November 30, 2006 $ 587,000 February 15, 2007 $ 13,250 May 15, 2007 $ 13,250 August 15, 2007 $ 13,250 November 15, 2007 $ 13,250
Transition Bonus. Upon Commencement of employment, Employer will pay to Employee the gross sum of Seventy-Five Thousand Dollars and Zero Cents ($75,000.00), less applicable withholdings, to compensate for Employee’s transition expenses. Employee understands that should he voluntarily resign within the first twelve (12) months of his employment with Employer, he will be required to pay back to Employer the entire Transition Bonus less one-twelfth (1/12) the entire bonus for each complete month he is employed.
Transition Bonus. (a) Subject to Section 6(b), if Executive remains employed by the Company through the Transition Period, then the Company shall pay Executive a one-time cash bonus in the amount of $250,000, payable in a lump-sum within three business days following the completion of the Transition Period, subject to withholding of applicable taxes (the “Transition Bonus”).
Transition Bonus. Executive shall receive two transition bonuses (each, a “Transition Bonus”), less applicable withholdings and deductions, in the amount of $20,000 each. The Transition Bonuses shall be paid in a lump sum on March 1st, 2024 (the “First Transition Bonus”) and May 1st, 2024, provided that Executive is employed by the Company on such dates, except as otherwise provided herein.
Transition Bonus. The Company shall pay Executive a transition bonus, in cash, in an amount equal to $1,100,000 (the “Transition Bonus”), which shall be paid in four equal installments on, or as soon as reasonably practicable following, each of the following dates, whether or not Executive is employed by the Company on such dates, unless Executive’s employment has been terminated by the Company for “Cause” or by Executive without “Good Reason” (as such terms are defined below): (i) the date Executive and the Company sign this Agreement, and (ii) the last day of each of the second, third and fourth fiscal quarters of the Company in 2005. If Executive’s employment is terminated for any reason other than by the Company for Cause or by Executive without Good Reason before any payment date set forth in the preceding sentence, then, if necessary to avoid the application of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), to any such unpaid portion of the Transition Bonus, Executive shall not receive any such amounts until the first scheduled payroll date that occurs more than six months following the date of termination of employment (the “First Payment Date”) and, on the First Payment Date, the Company will pay Executive an amount equal to the sum of all amounts that would have been payable following termination of employment in respect of the period preceding the First Payment Date but for the delay imposed on account of the aforementioned Section 409A.
Transition Bonus. The Corporation will pay Employee a transition bonus of One Hundred Thousand and 00/100 dollars ($100,000), payable in a lump sum, and subject to all applicable payroll taxes and withholdings (the “Transition Bonus”). This payment will be made on the first payroll date that occurs after February 22, 2018, given that Employee has agreed to provide transitional assistance as set forth in Section 19 hereof.
Transition Bonus. (a) In the event there is a Change in Control of the Company and Executive continues to render services to the Company for ninety (90) days following the closing of the transaction resulting in such Change in Control, then, if:
Transition Bonus. For only the fiscal years for 2005 and 2006, Executive shall also be eligible for a Transition Bonus; as such plan may be amended from time to time, subject to requirements set forth below. Executive will have a 2005 and 2006 EBITDA target amount for the business units under Executive’s management (CLP) as assigned by the President of Labor Ready. The Transition Bonus shall be in the gross amount of $100,000 if the EBITDA of the business units under Executive’s management equals or exceeds such targets. A prorated amount of the bonus will be earned for reaching EBITDA levels between 90% and 125% of the EBIDTA target, based on the following metrics: Achievement Bonus Award 125% of the EBITDA target 125% of the target bonus 100% of the EBITDA target 100% of the target bonus amount 90% of the EBITDA target 50% of the target bonus amount Less than 90% of the EBITDA target No bonus. The amount of this Transition Bonus if any, will be determined by the President of Labor Ready upon the Reconciliation Date, as defined above, and shall be paid (subject to taxes and withholdings) within seven days after the Reconciliation Date.
Transition Bonus. The Company shall pay the Executive the Transition Bonus (to the extent not already paid) in accordance with the provisions of Section 4(e) above;
Transition Bonus. Upon the completion of the Transition Period the Company’s Board of Directors (the “Board”) may, in its sole discretion, award Executive additional bonus compensation (the “Transition Bonus”) based upon the Executive’s and Company’s performance during the Transition Period. The Transition Bonus can be paid in the form of either cash, restricted stock, restricted stock units or a carried interest in the Company’s investment vehicles, at the discretion of the Board.
