Special Bonus Plan definition
Examples of Special Bonus Plan in a sentence
Special Bonus Plan, which will provide for payments at specified times of severance, bonuses and retention payments to employees of the Company and the Company Subsidiaries contingent upon the occurrence of the Effective Time in an aggregate cash amount of US$5.0 million, and the individual award agreements to be entered into thereunder with participating employees of the Company and the Company Subsidiaries.
For the avoidance of doubt, the Annual Bonus shall not include any special or non-recurring bonuses payable to the Executive, including any such bonuses payable under the Company’s 2014 Management Special Bonus Plan, Amended and Restated Sale Transaction Bonus Plan or 2014 Incentive Bonus Plan.
The Executive shall be eligible to participate in the Special Bonus Plan, if so established, on terms and conditions substantially the same as those applicable to other senior executives of the Company determined by the Board or the Compensation Committee; provided that the Executive acknowledges that the amount awarded to any particular executive may depend, wholly or in part, on the cost savings within the such executive’s area of responsibility.
In addition, the Employee shall be eligible to participate in the 2010 Special Bonus Plan, as approved by the Compensation Committee on December 16, 2009, subject to the terms and conditions of such plan.
During the Company's 2000 fiscal year, Employee shall be eligible to participate in both the Company's Short-Term Management Incentive Compensation Plan (the "Short-Term Plan") and the Company's Two-Year Special Bonus Plan (which also will continue into the Company's 2001 fiscal year).