2026 Annual Cash Bonuses Clause Samples

2026 Annual Cash Bonuses. Each Transferred Business Employee employed by a Buyer Employing Party or Seller and its Affiliates (a “Seller Employing Party”, and together with the Buyer Employing Party, each, an “Employing Party” and the non-employing group, the “Non-Employing Party”) on the date bonuses becomes due and payable under the applicable Employing Party’s annual bonus plan with respect to performance period 2026 (such date, the “2026 Bonus Payment Date”) shall, if employed by a Buyer Employing Party, and may, if employed by a Seller Employing Party, be paid an annual cash bonus by the applicable Employing Party as determined in accordance with the Employing Party’s applicable bonus plan; provided that, for any bonuses paid by the Buyer Employing Party, the amount of such bonus shall be no less than such Transferred Business Employee’s 2026 Accrued Bonus Amount that is unpaid as of Buyer’s 2026 Bonus Payment Date (which for the avoidance of doubt, shall include any applicable Interim Accrued Bonus Amounts). No later than January 4, 2027 (or, if later, no later than 5 days following the applicable Transfer Date with respect to a Delayed Transfer Business Employee), Seller shall deliver to Buyer a schedule setting forth, for each applicable Transferred Business Employee then-employed by a Buyer Employing Party, each such employee’s 2026 Accrued Bonus Amount that is unpaid as of Buyer’s 2026 Bonus Payment Date. No later than 10 days following the applicable 2026 Bonus Payment Date, the Employing Party shall deliver to the Non-Employing Party a notice setting forth the 2026 Accrued Bonus Amounts paid on such 2026 Bonus Payment Date. No later than 30 days following the applicable 2026 Bonus Payment Date or, if later, the date the Non-Employing Party receives the notice described in the immediately preceding sentence, the Non-Employing Party shall pay to the Employing Party an amount equal to (i) the Non-Employing Party’s Allocated Share of the 2026 Accrued Bonus Amount paid by the Employing Party on the 2026 Bonus Payment Date plus (ii) the employer portion of payroll, employment or similar Taxes relating to the amounts described in clause (i). For purposes of this Section 6.03(b), “Allocated Share” means, with respect to any 2026 Bonus Payment Date, (A) when used in reference to Buyer, the portion of the Interim Accrued Bonus Amounts paid by Seller on such 2026 Bonus Payment Date that is allocated to Buyer pursuant to the Transition Services Agreement; provided, that Buyer’s All...