Bonus Escrow Sample Clauses

The Bonus Escrow clause establishes that any bonus payments due under the agreement will be held in an escrow account until certain conditions are met. Typically, this means that a third-party escrow agent will retain the bonus funds until the recipient fulfills specific performance milestones or obligations, such as completing a project phase or achieving sales targets. This arrangement ensures that the bonus is only released when agreed-upon criteria are satisfied, thereby protecting both parties by reducing the risk of non-performance or premature payment.
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Bonus Escrow. At the Closing, the Sellers and Buyers will each deposit 50% of the agreed upon amount, such amount not to exceed $1,352,000 in the aggregate to fund the Stay-On Bonus Plan with the Escrow Agent pursuant to an escrow agreement to be mutually agreeable to the Buyers and the Sellers in their reasonable discretion (the "Bonus Escrow Agreement"). The Bonus Escrow shall be used to pay the Employee Bonuses pursuant to Section 6.02.
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Bonus Escrow. 5 Section 1.09
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Bonus Escrow. At the Closing and in accordance with Section 1.05(i), the Buyers will deposit the Bonus Escrow to fund the Retention Bonus Plan from the Merger Consideration, which amount shall be held by the Escrow Agent pursuant to an escrow agreement in the form attached hereto as Exhibit B (the "Bonus Escrow Agreement"). The Bonus Escrow shall be used to pay the employee bonuses under the Retention Bonus Plan pursuant to Section 6.02.
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Bonus Escrow. For purposes of providing Buyer with a source of funds to pay the Divestiture Bonus Amount in accordance with Section 2.6 hereof, at the Closing an amount of the Purchase Price equal to the Divestiture Bonus Amount less any portion of such Divestiture Bonus Amount actually paid at Closing (the "Bonus Escrow Amount") shall be paid by Buyer into an escrow account established pursuant to the terms and provisions of an escrow agreement in the form attached hereto as Exhibit "B" (the "Bonus Escrow Agreement"). Prior to the Closing, Seller and Buyer shall each execute and deliver the Bonus Escrow Agreement and shall cause the escrow contemplated herein to be established with a mutually acceptable escrow agent.
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Bonus Escrow. Concurrently with the payment of any Bonus Payment owed by Seller under the related agent contract listed on Schedule 8.2(j), Seller shall obtain a full release from each such Agent listed on Schedule 8.2(j) for the benefit of Seller (each a "Seller's Release"). Upon presentation of a Seller's Release from an Agent, Buyer and Seller shall jointly direct the Escrow Agent to release from the Bonus Escrow, Escrow Shares having a value based on the Average Closing Price equal to the amount paid to an Agent in respect of such Release.
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Related to Bonus Escrow

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • Special Bonus In addition to the Annual Base Salary and Annual Bonus payable as hereinabove provided, if the Executive remains employed with the Company or its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the Highest Annual Bonus. The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

  • Vacation Payout Where an employee requests in writing to have a specific number of vacation days paid out, and the Employer agrees to the request, the Employer will issue pay in lieu of vacation. Pay in lieu of vacation, if agreed, will be granted only after a minimum of 15 days' vacation time has already been taken in the year.