Sale Bonus Payment definition

Sale Bonus Payment means the Percentage Sale Formula Result, as adjusted. To the extent that the Sale Proceeds includes the receipt of an earn-out or other delayed payment structure, the Employee shall receive that portion of the Sale Bonus Payment relating to the earn-out or such delayed payment at such time as the Company or the Company's sole stockholder, as applicable, receives its payment.
Sample 1
Sale Bonus Payment means 1% of the amount of the Sale Proceeds minus 75% of the total amount of all Quarterly Bonus Payments made to the Executive during the Term; provided, however, that if 75% of the total of such Quarterly Bonus Payments is equal to or greater than 1% of the amount of the Sale Proceeds, the Executive shall not be entitled to receive a Sale Bonus Payment.
Sample 1
Sale Bonus Payment means any amount payable by any Company to any current or former employee, director or officer of any Company as a result of or in connection with the consummation of the transactions contemplated by this Agreement, which is described under the heading "Sale Bonus" on SCHEDULE 2.28 to the extent that any such amounts are not (a) paid by the Seller prior to the Closing or (b) deducted from the Purchase Price.
Sample 1

Examples of Sale Bonus Payment in a sentence

  • The Company's management, in its sole discretion, shall determine which of the following Sale Bonus Payment Schemes, either Payment Scheme One set forth in subsection (a) or Payment Scheme Two set forth in subsection (b), shall apply to each Participant.

  • The Company's management, in its sole discretion, shall determine those employees of an Employer who will be Participants in the Plan, the Base Salary Multiplier (or the applicable formula for determining the Base Salary Multiplier, as applicable) applicable to each Participant and the Sale Bonus Payment Scheme applicable to each Participant.

  • In order to participate in the Plan, each Participant must promptly sign and return to the Company a participation agreement in the form provided by the Company (a "Participation Agreement"), which shall set forth the Participant's Base Salary Multiplier (or the applicable formula for determining the Base Salary Multiplier, as applicable), designated Sale Bonus Payment Scheme and additional details about the Plan.

  • The Sale Bonus Payment shall be treated as a deductible by the Company in the tax year that ends on the Closing Date.

  • Therefore, the Employee acknowledges and agrees that, upon any payment of the Sale Bonus Payment hereunder, all such claims are automatically, without any further action by the Employee, waived and released by the Employee.

  • LCG recognizes failure to close the Subsequent Transaction and make the Subsequent Transaction Payment and the Sale Bonus Payment by February 1, 2019, will result in Players incurring additional expenses.

  • Buyers shall have received releases in the form of Exhibit 7.11 (the “Sale Bonus Payment Releases”) executed by each of Xxxx Xxxxxx, Xxxxx Xxxxx and Xxx Xxxxxxx of all rights pursuant to his Sale Participation Agreement, which Sale Bonus Payment Releases shall be in full force and effect.

  • Subject to Section 4 below, the Company shall pay the Employee the Sale Bonus Payment within four (4) business days following the closing of a Sale.

  • Notwithstanding anything to the contrary in this Agreement, none of Parent, the Surviving Company or other Affiliates of Parent shall be liable to a recipient of a Sale Bonus Payment or a holder of a Company Phantom Unit for any amount delivered to a public official pursuant to and as required by any applicable abandoned property, escheat or similar Law, if such person fails to duly execute and deliver the related Bonus Receipt Agreement.

  • LCG agrees that if, for any reason, it fails to pay the Subsequent Transaction Payment and the Sale Bonus Payment when timely due, Payee shall be entitled to damages for the detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages and the actual damages to Players would be unreasonably difficult, costly, inconvenient or impracticable to calculate.


More Definitions of Sale Bonus Payment

Sale Bonus Payment means the payment owing by the Company to Judith Grey upon consummation of the Closing pursuant to that certain Executive Employment Agreement by and between Ms. Grey and the Company, dated November 17, 2017.
Sample 1
Sale Bonus Payment means the payment owing by the Company to Xxxxxx Xxxx upon consummation of the Closing pursuant to that certain Executive Employment Agreement by and between Ms. Grey and the Company, dated November 17, 2017.
Sample 1

Related to Sale Bonus Payment

  • 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.

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

  • 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.

  • 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).

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

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

  • 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.

  • Cash Incentive Award means a cash award granted pursuant to Section 8 of this Plan.

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

  • Payout Amount means the vested portion of the Final Amount expressed as an amount of cash equal to the Fair Market Value of the shares of Stock underlying the RSUs and related Dividend Equivalents.

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

  • Incentive Payments means any and all federal or state governmental subsidies, payments, transfers or other benefits, whether now or hereafter established, received by the Borrower in any fiscal year aged less than 120 days.

  • 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.

  • 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)

  • 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.

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

  • Annual Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • Bonus Period means the period for which a Bonus is payable. Unless otherwise specified by the Board, the Bonus Period shall be the fiscal year of the Company.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Bonus Pool means the pool of funds available for distribution to Participants. Subject to the terms of the Plan, the Committee establishes the Bonus Pool for each Performance Period.

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

  • 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);