Exit Bonuses definition
Exit Bonuses means the bonuses in the aggregate amount of the Exit Bonus Amount to be paid to certain employees, directors, officers or consultants of the Group as a result of Completion (including any Pay as you Earn (“PAYE”) income tax and employee’s and employer’s national insurance contributions thereon or equivalent thereof in the applicable jurisdiction);
Exit Bonuses means, collectively, the bonus amounts due to certain individuals upon and subject to the Closing as set forth on Section 2.04(e) of the Company Disclosure Schedule.
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Examples of Exit Bonuses in a sentence
Exit Bonuses need not be uniform as among the Eligible Employees.
Any amounts relating to the Exit Bonuses shall be classified as 'Other' and excluded from both the Final Working Capital (and Working Capital Estimate) and the Final Net Debt (and the Net Debt Estimate).
As soon as reasonably practicable and in any event no later than three Business Days after Completion, the Purchaser shall procure that the Company (or its relevant subsidiary) pays the Exit Bonuses to each of the Exit Bonus Payees in each case less any PAYE or employee national insurance contributions or any other deductions required by law to be made in respect of the Exit Bonuses.
More Definitions of Exit Bonuses
Exit Bonuses means the gross amount of any bonuses, incentives or commission to be paid or agreed to be paid or incurred or owing to any current or former employee or director (including a non-executive director) of any Group Company by any Group Company in connection with, or as a result of, the Transaction, together with any employer’s social security contributions, payroll, employment and similar Taxes thereon or in connection therewith for which a Group Company is or would be liable;