Exit Bonus definition

Exit Bonus payable to Executive (if any) shall be paid in cash and in an amount determined in accordance with this Schedule 2. Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Employment Agreement to which this Schedule is attached. As used in this Schedule 2, the following terms shall have the following meanings:
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Exit Bonus means, in the case of any Target Disposition Event that occurs while Executive is an employee of the Company, an amount (the “Calculated Amount”) equal to (i) $460,000 multiplied by (ii) a fraction the numerator of which is Target Amount and the denominator of which is three (3)1 . Notwithstanding the foregoing, (A) in no event shall the Exit Bonus exceed $460,000, (B) in no event shall the sum of the Exit Bonus and any other amounts required to be taken into account under Section 280G of the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder (the “Code”) in connection with the Change of Control exceed 299% of the Executive’s “Base Amount” as determined pursuant to Section 280G of the Code, and (C) in the case of any Target Disposition Event that occurs after the termination of Executive’s employment with the Company without Cause or by the Executive for Good Reason, the Exit Bonus shall equal an amount equal to the quotient of the Calculated Amount divided by two (2).
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Exit Bonus means either of a Trigger Event Bonus or a Partial Trigger Event Bonus.
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Examples of Exit Bonus in a sentence

  • The Early Exit Bonus shall be payable in a lump sum in cash on or before the Early Exit Closing Date.

  • Any Exit Bonus payable to Executive by the Company shall be paid in cash not later than thirty (30) days after a Disposition Event (as defined on Schedule 2, paragraph (a).

  • The Employer may require that the Participant pay to the Employer the amount of any federal, state or local taxes that the Employer is required to withhold with respect to such Exit Bonus, or the Employer may deduct from other wages paid by the Employer the amount of any withholding taxes due with respect to the Exit Bonus.

  • If Employee shall terminate his employment for Good Reason, then, in addition to the foregoing, Employee shall continue to receive, until the second anniversary of the Effective Date, payment of his base compensation under Section 4.a., an annual bonus under Section 4.b., continued coverage under all employee benefit plans, and the Exit Bonus, the Performance Bonus and the Synergy Bonus, payable as described below, subject to execution by Employee of a Release as described in Section 4.i. below.

  • No Eligible Employee or Participant shall have any privileges of a stockholder of the Company with respect to an Exit Bonus, nor shall the Company have any obligation to issue any stock, pay any dividends or otherwise afford any rights to which holders of stock are entitled with respect to any such award.

  • All Exit Bonus payments under the Plan shall be subject to applicable federal (including FICA), state and local tax withholding requirements.

  • Additionally, the Executive agrees and consents that, during the Benefit Continuation Period, the amount of contributions that an active employee of the Company would be required to pay for coverage elected by the Executive under the Hyatt Welfare Plans will be withheld from the Exit Bonus.

  • Eligible Employees shall be eligible to receive a percentage of the Exit Bonus Pool or specified dollar amount in the event of a Change of Control Transaction or Initial Public Offering in such amount as determined in accordance with Section 2(c) below (the “Exit Bonus”), subject in all respects to the terms of the Plan.

  • On or after a Change of Control Transaction or Initial Public Offering, the Board may not amend the Plan in a manner that materially impairs a Participant’s rights to or interest in an Exit Bonus without the Participant’s written consent.

  • In no event shall an Exit Bonus Pool be established with respect to any transaction that does not constitute a Change of Control Transaction or Initial Public Offering.


More Definitions of Exit Bonus

Exit Bonus has the meaning set forth in Section 2(b).
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Exit Bonus means any payments to be paid to the Manager by the Company in connection with a Trigger Event (as such term is defined in the Management Services Agreement).
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Exit Bonus means the discretionary cash bonus (if any) to be paid by the Seller to any employee of a Group Company after Completion;
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Exit Bonus means the "exit bonus" (including social contributions borne by the beneficiaries and by the Group Companies) which the Group Companies contemplate to pay to their employees with respect to the Closing of this Agreement; Expiry Date has the meaning set forth in Article 9.6.1(a); Fairly Disclosed has the meaning set forth in Article 7.1.2; FDA means the U.S. Food and Drug Administration and corresponding regulatory agencies in other counties and states of the United States; FDA Company Contractor means any Person with which the Company or any of its Subsidiaries formerly or presently had or has any Contract under which that person has or had physical possession of, or was obligated to develop, test, process, investigate, manufacture, or produce any FDA Regulated Product on behalf of the Company or any of its Subsidiaries; ACTIVE/99344198.6
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Related to Exit Bonus

  • 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).

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

  • Target Bonus means Executive’s annual (or annualized, as applicable) target bonus in effect immediately prior to Executive’s Qualifying Termination or, if Executive’s Qualifying Termination occurs during the Change in Control Period and the amount is greater, Executive’s annual (or annualized, if applicable) target bonus in effect immediately prior to the Change in Control.

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

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