Transition Bonus Payment Sample Clauses

Transition Bonus Payment. Colleague’s participation in the Executive Officer Bonus Plan is terminated on the Effective Date and, therefore, Colleague will not be entitled to any bonus under the Executive Officer Bonus Plan for periods ending on or after the Effective Date. However, in order to facilitate a smooth transition, Energizer will pay Colleague a Transition Bonus. If, and to the extent that the performance goals are achieved under the terms of the Executive Officer Bonus plan, Energizer will pay the Transition Bonus on the same date that the Executive Officer Bonus would have been paid had Colleague’s employment continued until the date of payment under the Executive Officer Bonus Program for the entire fiscal year 2017. You are currently eligible for a 80% bonus under the Executive Officer Bonus Plan and the same percentage will apply to the Transition Bonus payment. The Transition Bonus payment will be calculated using the same methodology used to calculate other Executive Officer Bonus Plan payments. The anticipated payment date is November 30, 2017, but in no event shall the payment date be later than December 31, 2017, if and to the extent that the Colleague is eligible for a payment hereunder.
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Transition Bonus Payment. Executive will receive a lump sum cash payment of $562,500 (the “Transition Bonus Payment”) to be paid at the end of the Transition Period for completion of the Transition Services, subject to Executive’s execution and non-revocation of the Final Release by the Final Release Deadline, with such Transition Bonus Payment to be paid within ten (10) days following the effectiveness of the Final Release. Notwithstanding the foregoing, in the event of a Qualifying Termination or Executive’s termination due to his death or Disability (as set forth in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”)) prior to the completion of the Transition Period, subject to Executive’s execution and non-revocation of the Final Release by the Final Release Deadline, Executive shall be paid the full amount of the Transition Bonus Payment within ten (10) days following the effectiveness of the Final Release. If, prior to the end of the Transition Period, Executive resigns his employment absent a written request of the Company to do so (other than due to death or Disability), or is terminated by the Company for Cause, he will not be entitled to any Transition Bonus Payment. Executive will not be eligible to participate the Company’s FY19 Bonus Plan.
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Transition Bonus Payment. Colleague will not be entitled to any bonus under the Executive Officer Bonus Plan for periods ending on or after the Effective Date. If, and to the extent that the performance goals are achieved under the terms of the Bonus Plan for the 2020 fiscal year, Energizer will pay Colleague a transition bonus (the “Transition Bonus”) on the same date the 2020 bonus would have been paid had Colleague’s employment continued until the date of payment under the Bonus Plan for the entire fiscal year 2020. Any Transition Bonus shall equal a pro rata portion of the amount Colleague would have earned under the Bonus Plan for the 2020 fiscal year based on the number of full months of employment from October 1, 2019 to the Retirement Date. The anticipated payment date for the Transition Bonus is November 30, 2020, but in no event shall the payment date be later than December 31, 2020, if and to the extent that the Colleague is eligible for a payment hereunder.
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Transition Bonus Payment. Colleague’s bonus, if any, under the Executive Officer Bonus Plan (the “Bonus Plan”) for the fiscal year ending September 30, 2019 shall be earned and payable pursuant to the terms of the Bonus Plan. Colleague will not be entitled to any bonus under the Bonus Plan for periods ending on or after the Effective Date. If, and to the extent that the performance goals are achieved under the terms of the Bonus Plan for the 2020 fiscal year, Energizer will pay Colleague a transition bonus (the “Transition Bonus”) on the same date the 2020 bonus would have been paid had Colleague’s employment continued until the date of payment under the Bonus Plan for the entire fiscal year 2020. Any Transition Bonus shall equal a pro rata portion of the amount Colleague would have earned under the Bonus Plan for the 2020 fiscal year based on the number of full months of employment from October 1, 2019 to the Retirement Date. The anticipated payment date for the Transition Bonus is November 30, 2020, but in no event shall the payment date be later than December 31, 2020, if and to the extent that the Colleague is eligible for a payment hereunder.
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Transition Bonus Payment. In return for the Employee’s promises in this Agreement, the Company will provide the Employee with a target bonus representing 45% of the Employee’s annual base salary of $501,900 (the “Transition Bonus Payment”), with the amount of the Transition Bonus Payment to be determined based on the Company’s actual results against the Company’s financial and other corporate goals of the Company’s bonus plan for fiscal year 2020 and provided that bonuses are awarded to other Company executives. The Transition Bonus Payment will be paid in a single, lump-sum payment at the same time that bonuses for 2020 are paid to other executives, as long as this Agreement has become effective.
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Transition Bonus Payment. As an incentive for you to remain with the Company through the Transition Period, you will be paid a transition bonus in the amount of $90,000 (the “Transition Bonus”), subject to the “Transition Bonus Conditions” provided below. The Transition Bonus will be paid, less applicable withholdings and deductions, on the next regularly scheduled pay date following August 31, 2010, unless local law requires that it be paid sooner.
Sample 1
Transition Bonus Payment. Subject to the limitations in this Section 5, in return for the Employee’s promises in this Agreement, the Company will provide the Employee with a target bonus representing 45% of the Employee’s annual base salary of $501,900 (the “Transition Bonus Payment”), with the amount of the Transition Bonus Payment to be determined based on the Company’s actual results against the Company’s financial and other corporate goals of the Company’s bonus plan for fiscal year 2020 and provided that bonuses are awarded to other Company executives. The Transition Bonus Payment will be paid in a single, lump-sum payment at the same time that bonuses for 2020 are paid to other executives, as long as this Agreement has become effective. For the avoidance of doubt, the Transition Bonus Payment will not be due or payable by the Company to Employee in the event the bonus for 2020 performance has already been paid to Employee at or prior to the Effective Date.
Sample 1
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Transition Bonus Payment. The Bank shall pay or provide to Employee the following items upon the effective time of the merger of Big Lake with and into the Bank or as soon thereafter as permitted by applicable laws and regulations. The Bank Merger has been approved by all applicable regulatory authorities. The Company will merge Big Lake with and into the Bank at the earliest possible time, consistent with the conversion of Big Lake’s data systems, which is currently scheduled for June 1, 2006. (i) A one time payment of $370,000; provided, that such amount will be reduced by $185,000 if Big Lake is permitted in writing by the OCC to pay such amount pursuant to FDIC Regulation Section 359(a)(3) and delivers such amount to Employee; (ii) $85,000 for Xx. Xxxxxxx’ life insurance policy; and (iii) the title to the Big Lake car Xx. Xxxxxxx uses as of the date hereof free and clear of all liens. Such payments shall be made to Employee regardless of whether Employee is terminated by the Company or the Bank, is disabled or dies.
Sample 1
Transition Bonus Payment. The Company shall pay to Hollister a transition bonus in the aggregate amount of $63,000 in cash (the “Transition Bonus Payment”). The Transition Bonus Payment shall be payable by the Company to Hollister in a single lump sum on March 9, 2007 (the “Effective Date”); provided that such payment shall be subject to reduction in respect of applicable federal, state and local tax withholdings.
Sample 1

Related to Transition 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 No employee shall be required or requested to make any written or verbal agreement that will conflict with the terms of this Agreement. All employees must be paid weekly for all hours worked as provided in this Agreement. Any bonuses, commissions or other methods of payments over and above the requirements of this Agreement shall be in addition to the requirements of this Agreement and may not be used to offset such contractual requirements and shall not be subject to negotiations.

  • Retention Bonus (a) Subject to Sections 2(b), 2(c) and 2(d) below and your continued employment through the Determination Date (as defined below), you will be eligible to receive a Retention Bonus equal to the annual bonus you would have been eligible to receive under the Company’s Annual Incentive Plan based on the Company’s actual performance for 2023, as determined by the Compensation Committee of the Board of Directors (the “Committee”) following the completion of 2023, had you been a participant in the Annual Incentive Plan with a target bonus opportunity of up to 40% of your base salary (such amount as determined by the Committee, the “Retention Bonus”), which determination shall occur between January 1, 2024 and March 15, 2024 (the date of such determination, the “Determination Date”). The Retention Bonus, if any, will be paid in cash in a lump sum between January 1, 2025 and March 15, 2025. You will continue to be considered an employee of the Company for purposes of this letter agreement if you are on a Company- approved leave of absence. (b) In the event of a Change in Control during 2024, subject to your continued employment through the earlier of: (1) the Determination Date; or (2) the date of the Change in Control, you will be eligible to receive your Retention Bonus in cash in a lump sum within 10 days following the date of the Change in Control. (c) In the event of your Involuntary Termination (as defined in the Employment Agreement) on or after the Determination Date but on or prior to the date you have received the Retention Bonus, you will be eligible to receive your Retention Bonus in cash in a lump sum within 10 days following the effective date of your Release (as defined below). As a condition to your receipt of the Retention Bonus pursuant to this Section 2(c), you shall execute and not revoke a general release of all claims in favor of the Company and its affiliates (the “Release”) in the form attached to the Employment Agreement as Exhibit A. In the event the Release does not become effective within the 55-day period following the date of your Involuntary Termination, you shall not be entitled to the Retention Bonus. (d) If your employment terminates prior to the Determination Date for any reason, then this letter agreement will terminate, and you will forfeit any right you may have to receive the Retention Bonus.

  • Retention Bonuses Provided Executive becomes and remains an active employee of Mercantile, Mercantile will pay Executive retention bonuses in accordance with the following schedule: (i) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following the Effective Time, (ii) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following six (6) months of Executive’s employment with Mercantile, (iii) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following twelve (12) months of Executive’s employment with Mercantile. After twelve (12) months of Executive’s employment with Mercantile, Executive will not be entitled to any further Severance or Retention benefits. The above-listed payments and benefits are in lieu of any and all payments and benefits to which Executive may otherwise have been entitled under the CIC Agreement or any other agreement or practice.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Vacation Bonus Employees shall receive one day's base pay (or adjusted earnings) for each year of service beyond twenty-five (25) years, to a maximum of ten (10) days’ pay.

  • 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.

  • 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

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

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