Allocation of Bonus Pool. The Bonus Pool shall be allocated as specified in each Participant's Employment Agreement.
Allocation of Bonus Pool. As soon as practicable but no later than sixty (60) days following the certifi cation of the Company's financial statements in respect of the fiscal year of the Company ending June 30, 2000, the Bonus Pool shall be allocated by the then most senior executive among Messrs. Angelo Xxxxxxxx, Xxxxph Xxxxxxxx, Gary Pxxxxxx xxx Xorge Xxxx, xx xuch individual's sole discretion, between (i) the Senior Executive Group, consisting of Messrs. Angelo Xxxxxxxx, Xxxxph Xxxxxxxx, Gary Pxxxxxx xxx Xorge Xxxx, xxx (ii) the Executive Group, consisting of the Chief Financial Officer, any Executive Vice President and such other employees of the Company as the Chairman shall in his discretion desig nate; provided, however, that no less than 5% of the Bonus Pool shall be allocated to the Executive Group. Except as hereinbelow provided, onefourth (1/4) of that portion of the Bonus Pool allocated to the Senior Execu tive Group in accordance with the immediately preceding sentence shall be allocated to each of the members of the Senior Executive Group (such individual's allocation, the "Bonus"), and that portion of the Bonus Pool allocated to the Executive Group in accordance with the immediately preceding sentence shall be allocated among the members of the Executive Group as determined by the Chairman in his sole discretion. If the employment of the Executive is terminated by the Company without Cause or by the Executive with Good Reason, he shall be entitled to receive 100% of his Bonus at such time as the Bonus otherwise becomes payable. If the employment of the Executive is terminated by the Company for Cause or by the Executive without Good Reason (A) during the first year of the Term, the Executive's right to receive any portion of the Bonus shall be forfeited or (B) during the second year of the Term, he shall be entitled to receive, at such time as the Bonus otherwise becomes payable, an amount equal to onehalf (1/2) of the Bonus otherwise attributable to him. In the event that, prior to Febru ary 1, 1999, the Company offers to the Executive an extension of his employment for at least one (1) year following the end of the Term on terms substantially similar to those provided herein and the Executive does not accept such offer, the Executive shall be entitled to receive, at the time such Bonus otherwise becomes pay able, an amount equal to twothirds (2/3) of the Bonus otherwise attributable to him. In the event that, prior to February 1, 1999, the Company does not offer to...
Allocation of Bonus Pool. (a) The allocation of the Bonus Pool to individuals designated as Participants shall be set forth in writing from time to time as determined by the Administrator and specified in the applicable Participant’s Participation Agreement. Each Participant’s payment under the Plan (his or her “Bonus Amount”) will be equal to (x) his or her Bonus Percentage (as may be adjusted pursuant to the Plan), multiplied by (y) the amount of the Bonus Pool. The aggregate of the Bonus Percentages set forth in the Participation Agreements with all Participants may not exceed 100% at any time.
Allocation of Bonus Pool. The portion of the pool allocated to the Plan participants is distributed 50 percent based on their weighted salary (using factors approved by the Committee each year) versus the total weighted salaries of all participants of the plan and 50 percent at the discretion of the Chairman of the Board and the Chief Executive Officer. The weighted salaries will be determined by multiplying the salary earned while a participant in the plan times the weighting factors as determined by the Chairman, the Chief Executive Officer and the Committee. If a participant moves from one level to another during the year, the different weighting factors is applied to the salary earned at each level and prorated.
Allocation of Bonus Pool
