Closing Bonus definition

Closing Bonus means a bonus payable pursuant to Section 2.1(b) below.
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Closing Bonus has the meaning set forth in Section 6.1(g).
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Closing Bonus means, with respect to each Closing Bonus Recipient, an amount to be paid by the Company to such Closing Bonus Recipient within three (3) Business Days after Closing, as provided in a schedule provided by Sellers’ Representative to Buyer at Closing (the “Closing Bonus Schedule”), in the aggregate amount of $528,200.
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Examples of Closing Bonus in a sentence

  • The Stock Closing Bonus will be granted subject to the Plan and the terms and conditions of an applicable stock award agreement.

  • The Closing Bonus, if earned, will be payable on or about the Closing Date.

  • The Employee shall be entitled to receive a cash bonus equal to four hundred thousand U.S. Dollars ($400,000) upon the closing of a Change in Control (as defined in Section 8 hereof), payable in a single lump-sum by the Subsidiary on the closing of the Change in Control (such bonus, the "Closing Bonus").

  • Payment of the Executive's Closing Bonus will be made as soon as practicable (but in no event more than thirty (30) days) after the Closing Date or, if the Closing Date has not occurred as of the Drop Dead Date, as soon as practicable (but in no event more than thirty (30) days) after the Drop Dead Date.

  • Klampaeckel’s right to receive the Closing Bonus Amount will be fully vested as of the date paid by the Company; provided that Klampaeckel provides services to the Company until the date of payment.

  • On the Closing Date, the Purchaser shall pay, or cause to be paid, on behalf of the Company and its Subsidiaries, to each applicable payee set forth in the Funds Flow, its respective portion of the Closing Bonus Amount in cash by wire transfer of immediately available funds to the bank account of such payee set forth in the Funds Flow.

  • The Employee shall be entitled to receive a cash bonus equal to six hundred fifty thousand U.S. Dollars ($650,000) upon the closing of a Change in Control (as defined in Section 8 hereof), payable in a single lump-sum by the Subsidiary on the closing of the Change in Control (such bonus, the "Closing Bonus").

  • For services rendered to date, Holdings will pay to the Executive a bonus upon Closing (the "Closing Bonus") of (i) $100,000 in cash, (ii) 4,000 shares of Holdings Series A Preferred Stock and (iii) 1000 shares of Holdings Common Stock.

  • The Employee shall be entitled to receive a cash bonus equal to seven hundred fifty thousand U.S. Dollars ($750,000) upon the closing of a Change in Control (as defined in Section 8 hereof), payable in a single lump-sum by the Subsidiary on the closing of the Change in Control (such bonus, the "Closing Bonus").

  • Within three (3) Business Days of Closing, Buyer shall cause Earthbound I to pay the Closing Bonus Point Amount to the Bonus Point Holders through the customary payment practices of the Company Group.


More Definitions of Closing Bonus

Closing Bonus means a bonus in an aggregate amount of not more than **The confidential portion has been so omitted pursuant to a request for confidential treatment and has been filed separately with the Commission.** that the Company intends to pay to certain employees of the Company immediately prior to Closing (such amount to be financed through an increase in Indebtedness, therefore reducing the Purchase Price pursuant to Section 3 of this Agreement to the extent such Indebtedness is not paid by the Company at Closing).
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Closing Bonus means a bonus payable pursuant to Section 5 hereof.
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Closing Bonus means an amount equal to 65% of the Bonus Award, payable as provided in Section 5(a).
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Closing Bonus means that portion of the Closing Consideration payable to you hereunder.
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Related to Closing Bonus

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.

  • Bonus Amount means the greater of (i) the average annual incentive bonus earned by Executive from the Company (or its affiliates) during the last three (3) completed fiscal years of the Company immediately preceding Executive's Date of Termination (annualized in the event Executive was not employed by the Company (or its affiliates) for the whole of any such fiscal year), and (ii) the Executive's target annual incentive bonus for the year in which the Date of Termination occurs.

  • Retention Bonus means an incentive bonus provided under

  • Severance Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Target Bonus means the target Bonus established for Executive, whether expressed as a percentage of Base Salary or a dollar amount.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • Transaction Bonuses means the aggregate amount of any transaction bonuses, discretionary bonuses, “success” fees, change of control payments, retention bonuses, severance payments, payouts of deferred compensation and any similar or other payment obligations payable related to the consummation of the Merger, the terms of which have been agreed to by the Company or the Company Subsidiary prior to the Effective Time, including with respect to any Employee, any employer-side payroll or related Taxes payable with respect thereto.

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year, if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • Bonus means the bonus described in the Section 2.3.

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Severance Costs means the costs which the employers are legally obliged to pay to or in respect of the Crew as a result of the early termination of any employment contract for service on the Vessel.

  • Severance Amount means (A) for any Termination other than during a Covered Period, an amount equal to one hundred percent (100%) of Executive’s then-current Annual Base Salary as of the respective Termination; or (B) for a Termination during a Covered Period, an amount equal to two hundred percent (200%) of Executive’s Base Compensation as of the respective Termination.

  • Bonus Payments means that portion of the bonus payments received by the

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Target Annual Bonus has the meaning set forth in Subsection 3b.

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Average Bonus means the average of the bonuses paid to Employee over the last two years (or such lesser number of years in which Employee was eligible to receive a bonus) in which the Employee was eligible to receive a bonus.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this Agreement.