Bonus Arrangements Sample Clauses
The Bonus Arrangements clause defines the terms under which additional compensation, beyond base salary or fees, may be awarded to a party. It typically outlines the criteria for earning a bonus, such as achieving specific performance targets, company profitability, or meeting project milestones, and may specify the timing and method of payment. This clause ensures both parties have a clear understanding of how bonuses are determined and distributed, reducing the risk of disputes and aligning incentives.
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Bonus Arrangements. In addition to the Base Salary provided for in Paragraph 5 hereof, the Board, or a duly authorized committee thereof, may authorize and instruct the Company to pay to the Employee, pursuant to an incentive compensation plan formally adopted by the Board or a committee thereof or otherwise, bonus payments ("Discretionary Bonus") dependent upon the Employee's individual performance and contribution for a given fiscal year, the Company's financial performance for such fiscal year and/or such other criteria as the Board, or such designated committee thereof, shall determine. The payment of any Discretionary Bonus to be made to the Employee shall be in the sole discretion of the Board, or such designated committee thereof and may be paid in cash or, if mutually agreeable to the Board (or such designated committee thereof) and the Employee, in stock, other securities of the Company, or other assets of the Company and upon such other terms as they may mutually agree.
Bonus Arrangements. Employee shall be entitled to participate in any performance-based bonus plan or other bonus arrangements maintained by the Company for its executive employees as determined by the Company’s Compensation and Stock Option Committee. In the event the Company does not maintain such a plan or arrangement, Employee will be eligible for such discretionary bonuses as may be determined from time to time by the Compensation and Stock Option Committee of the Board of Directors of the Company. Any such bonus will be payable in accordance with the terms of such bonus plan or arrangement or, if there is no such plan or arrangement, within 2½ months after the end of the fiscal year of the Company to which it relates but in no event later than the end of the calendar year in which such fiscal year ends.
Bonus Arrangements. 7.1 Recipharm AB and Recipharm acknowledge that Consort operates annual bonus arrangements (the
7.2 In respect of the financial year ending 30 April 2020, Recipharm AB and Recipharm agree that the annual bonus amount due to any participant in the Bonus Arrangements will in respect of the period to the Effective Date be determined by the Consort Remuneration Committee before the Effective Date, and in respect of the remaining period, will be determined by the Recipharm AB Remuneration Committee. For the avoidance of doubt, no amendments will be made to the existing terms of the Bonus Arrangements.
7.3 Recipharm AB and Recipharm agree that such bonus amounts will be paid at the normal time, provided the individual remains in employment with the Consort Group as at the payment date, save that if an individual has left employment with the Consort Group other than "for cause" or by reason of voluntary resignation before such date the bonus amount will be paid with the payment of the individual's other severance payments.
Bonus Arrangements. CHP shall have received satisfactory evidence that all bonus plans under which officers, directors or employees of the Advisor or the Development Company are beneficiaries have been terminated as of the Closing Date;
Bonus Arrangements. (i) By agreeing to the new arrangements, you will also waive your entitlement to payments earned in the first two quarters under the 2002/03 Senior Management Incentive Plan.
(ii) The provisions of this paragraph (ii) will last for eighteen months starting on the Effective Date. As mentioned above, in addition to any entitlement under clause 16.2 of the service agreement (which relates to the Company making a payment in lieu of contractual notice), if:
(a) within eighteen months commencing on the Effective Date[the Company][Miranda Communications Inc.] elects (with or without notice) to terminate your employment by making a payment to you in lieu of notice (under clause 16.2(a) or (b) of the new service agreement) or (within the same period) [the Company][Miranda Corporation Inc.] terminates your employment by giving notice (under clause 2.4(a) of the new service agreement); and
(b) on the expiry of the notice period or the Notional Notice Period (each being on EXPIRY DATE), no rights have vested to you under the Management Plan and none are due to vest subject to purely time-based vesting conditions. then within seven working days after the Expiry Date [the Company] will pay you an amount equal to the entitlement to payments earned in the first two quarters under the 2002/2003 Senior Management Incentive Plan (in total [ ] of your basic salary) which you waived under paragraph (i) above. For your rights under the Management Plan on termination of employment, you should refer to the enclosed rules of the Management Plan. Nothing in this letter will oblige [the Company] [Marconi Communications Inc.] to make any payment to you under this paragraph (ii) if [the Company] [Marconi Commincations Inc.] terminates your employment under clause 16.4 (termination for cause). You should also be aware that your award under the Management Plan is intended to provide your total variable compensation during the life of the Management Plan; it is not therefore currently anticipated that you will participate in any cash bonus plan operated within the new group until there are no outstanding but unvested option under the Management Plan. Clause 5 of the service agreement has been amended to reflect these arrangements.
Bonus Arrangements. (i) Performance Bonuses. Parent shall be solely responsible for payment of prorated bonus incentive payouts based on actual performance as of the Closing Date pursuant to all 2010 Parent-sponsored incentive bonus plans for Performance Packaging.
(ii) Change of Control Bonuses. Parent shall be solely responsible for the payment of those bonuses described in Exhibit 5.1(f)(ii)(1), and Buyer shall be solely responsible for the payment of those bonuses described in Exhibit 5.1(f)(ii)(2).
Bonus Arrangements. Executive shall be entitled to participate in any performance-based bonus plan or other bonus arrangements maintained by the Company for its executive employees as determined by the Company’s Compensation and Stock Option Committee. In the event the Company does not maintain such a plan or arrangement, Executive will be eligible for such discretionary bonuses as may be determined from time to time by the Compensation and Stock Option Committee of the Board of Directors of the Company. In addition to the foregoing, Executive shall be entitled to receive a performance-based bonus of up to twenty-five percent (25%) of Basic Compensation, as determined by the Company’s Compensation and Stock Option Committee and Chief Executive Officer, at the end of each fiscal year of service based upon Executive’s performance including, without limitation, consideration of the following criteria: the Company’s actual results of operations compared with the Company’s business plan as adopted by the Company’s Board of Directors; restaurant development; and management retention. Any such bonus will be payable in accordance with the terms of such bonus plan or arrangement or, if there is no such plan or arrangement, within 2½ months after the end of the fiscal year of the Company to which it relates but in no event later than the end of the calendar year in which such fiscal year ends.
Bonus Arrangements. Executive will be eligible to participate in Samson’s annual discretionary bonus program, subject to the terms and conditions thereof (including continued employment through the bonus payment date). Any Annual Bonus payable to Executive shall be less applicable tax withholdings.
Bonus Arrangements. The La Senorita Entities have bonus arrangements with the following employees. Each bonus ranges from between $0 to $200 per month, and sample bonus work sheets have been provided to Buyer. Jeff ▇▇▇▇▇ ▇▇▇a▇ ▇▇▇▇▇ ▇▇▇v▇ ▇▇▇▇ ▇▇▇t ▇▇▇▇ ▇▇▇a ▇▇▇▇▇ ▇▇▇l▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇h▇▇▇ ▇▇▇▇▇▇ ▇▇▇n▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇s ▇▇▇▇▇▇▇▇ ▇▇▇e▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇r▇▇ ▇▇▇▇▇ ▇▇▇y ▇▇▇tteck Stev▇ ▇▇▇▇▇ ▇▇▇i▇ ▇▇▇▇▇ ▇▇▇i▇ ▇▇▇▇▇▇▇
Bonus Arrangements. After the Closing Parent shall cause the Company to honor the board resolutions attached hereto as Exhibit G.