Net Signing Bonus definition

Net Signing Bonus means an amount equal to the Signing Bonus minus the sum of all federal, state and local income and employment taxes paid, or payable, by Executive in connection with the Signing Bonus, assuming for this purpose that the highest marginal tax rates apply.
View Source
Net Signing Bonus means an amount equal to the Received Bonus minus the Total Reduction. If Executive fails to fully pay the Net Signing Bonus within the 45-day period, until the Net Signing Bonus is fully paid or credited against, Company may set off any amount that Executive is entitled to receive from Company or its Affiliates under this Agreement or otherwise against the balance of the Net Signing Bonus not paid.
View Source

Examples of Net Signing Bonus in a sentence

  • Notwithstanding anything to the contrary contained in this Agreement, if Executive’s employment with Company is terminated for any reason within five years following the Effective Date, Executive will repay to Company the Net Signing Bonus (defined below) within 45 days of such termination.

  • If, prior to the second anniversary of the Employment Date, Executive’s employment hereunder is terminated in a termination governed by Section 5(b) below (relating to Cause/voluntary terminations), then Executive shall repay an amount equal to (i) the Net Signing Bonus (as such term is defined below) times (ii) a fraction, the numerator of which equals twenty-four (24) less the number of full calendar months Executive has been employed hereunder and the denominator of which is twenty-four (24).

  • If Executive fails to fully pay the Net Signing Bonus within the 45-day period, until the Net Signing Bonus is fully paid or credited against, Company may set off any amount that Executive is entitled to receive from Company or its Affiliates under this Agreement or otherwise against the balance of the Net Signing Bonus not paid.