Bonus Determination. The bonus determination shall be made and paid within 45 days after the audited financial statements of the Company for each fiscal year. The calculation shall be prepared by the Company's independent auditors and shall be final.
Bonus Determination. The bonus determination shall be made and paid within 45 days after the audited financial statements of the Company for each fiscal year. The calculation shall be prepared by the Company's independent auditors and shall be final. SCHEDULE D RECORD LABEL BONUS PLAN Upon the consummation of the initial public offering by the Company, an initial record label will be established through a wholly owned subsidiary ("PRM") to be operated under the direction of Xxxxx Xxxxx and Xxxxxxx Xxxxx. Set forth below is a bonus arrangement to compensate Xxxxx Xxxxx, Xxxxxxx Xxxxx and others designated by them upon meeting the targets set forth below This bonus, which is a one-time bonus only, is in addition to any other bonuses of the Company including, without limitation the Tier I and Tier 2 bonus set forth in the Employment Agreements of Xxxxx Xxxxx and Xxxxxxx Xxxxx. The Record Label Bonus Plan is as follows:
Bonus Determination. (a) With respect to any performance period under Xxxxxxx International Bonus Plans that has not been completed on or prior to the Effective Time, the Xxxxxxx Electronics Group shall provide each Xxxxxxx Electronics Group Employee with a cash bonus or similar cash incentive opportunity that is equivalent to the cash bonus or similar cash incentive opportunity which could have been earned under the applicable Xxxxxxx International Bonus Plan for such incomplete performance period. As soon as practicable following the Effective Time, Xxxxxxx International shall transfer to Xxxxxxx Electronics and Xxxxxxx Electronics shall assume, the accrued Liability related to the Xxxxxxx International Bonus Plans for each Xxxxxxx Electronics Group Employee for the portion of the applicable performance period beginning on the first day of the applicable performance period and ending on the Effective Time. For purposes of determining the amount of the accrued Liability to be transferred to and assumed by Xxxxxxx Electronics, the applicable performance criteria shall be measured by Xxxxxxx International in accordance with the terms of the applicable Xxxxxxx International Bonus Plans for the portion of the applicable performance period up to the Effective Time and based on the fiscal year 2015 year-to-date Xxxxxxx International financial results as of the Effective Time.
Bonus Determination. (a) With respect to any performance period under IR Bonus Plans that has not been completed on or prior to the Effective Time, the Allegion Group shall provide each Allegion Group Employee with a cash bonus or similar short-term cash incentive opportunity that is equivalent to the cash bonus or similar short-term cash incentive opportunity which could have been earned under the applicable IR Bonus Plan for such incomplete performance period. As soon as practicable following the Effective Time, IR shall transfer to Allegion and Allegion shall assume, the accrued Liability related to the IR Bonus Plans for each Allegion Group Employee for the portion of the applicable performance period beginning on the first day of the applicable performance period and ending on the Effective Time. For purposes of determining the amount of the accrued Liability to be transferred to and assumed by Allegion, the applicable performance criteria shall be measured by IR in accordance with the terms of the applicable IR Bonus Plans for the portion of the applicable performance period up to the Effective Time and based on the 2013 forecast for IR financial results as of the Effective Time.
Bonus Determination. The EBITDA target for the relevant year that must be achieved in order to earn the specified amount of Bonus Compensation shall be based on the annual budget for such year and approved by the Board (and subject to the review of and consent by Xxxxxxx Xxxxx Global Private Equity). The EBITDA target for the relevant year that has been determined by the Board and consented to by Xxxxxxx Xxxxx Global Private Equity shall be furnished to the Employee by March 15 of such year, which target shall remain in effect for the remainder of such year unless otherwise mutually agreed by Employee and the Company. For the avoidance of doubt in determining Bonus Compensation for the relevant year, Employee shall also be furnished, concurrently with the EBITDA target for such year, a chart like that included in the briefing materials for the Board meeting at which the revised EBITDA target for 2008 and this letter agreement were approved, which chart shows, in 0.25% increments, the percentage of Base Salary earned as Bonus Compensation based on the percentage of the EBITDA target for the relevant year that is achieved in such year.
Bonus Determination and Payment The final determination of the Executive’s bonus for any fiscal year will be made by the Board of Directors based on the criteria set forth herein and taking into account the recommendations of Company’s Chief Executive Officer and of its Compensation Committee, and will consider all aspects of the Executive’s and Company’s performance. Such bonus shall be paid in cash not later than 30 days following the filing of Company’s public GAAP financial statements for the calendar year for which the Executive is eligible for a Bonus. Stock-Based Compensation Company believes that companies of the size and nature of Company should consider instituting Stock-Based Compensation for senior executives. During the Subsequent Term, the Board of Directors shall consider, at least once each fiscal year, if a Stock-Based Compensation plan should be implemented (or if such a plan exists, if it should be modified). There is no assurance, however, that Company will institute a Stock-Based Compensation plan nor any assurance that an award will be made to the Executive. Employee Benefits The Executive shall be entitled to participate in such employee benefit plans as the Company Board of Directors shall approve. Such plans may include defined-contribution retirement plans, paid vacation and sick days/paid time off, short-term disability plans, or such other plans as may be offered from time to time. Expenses and Indemnification Company will reimburse the Executive for out-of-pocket expenses incurred in the furtherance of Company’s business according to Company’s established employee business expense policies and practices. Company will maintain directors and officers’ liability insurance in amounts as determined by the Board of Directors, and the Executive shall be covered under such insurance to the same extent as any Company Director or other Company senior executive. Severance Subject to the last paragraph in this Section, in the event the Executive is terminated by Company without Cause, the Executive shall be entitled to the following severance payments:
Bonus Determination. During the Employment Period the Employee will be eligible to receive annual performance bonuses in excess of his Base Salary (the “Performance Bonus”). The Performance Bonus, if any, will be composed of a quantitative component (the “Quantitative Bonus”) and a qualitative component (the “Qualitative Bonus”), determined in accordance with the terms set out in subsection 3.3 and Schedule “A” hereto. Each Performance Bonus will be paid to the Employee within 120 days after the end of the Employer’s fiscal year in respect of which the Performance Bonus has been determined.
Bonus Determination. The Adjusted EBITDA Performance Target, Revenue Performance Target and FCF Performance Target for each fiscal year shall be based on the annual budget of Company for such year which, together with the non-Adjusted EBITDA performance goals and performance levels for members of the Management Team, must be approved by the Board (and subject to the review of and consent by BAML Capital Partners). The Adjusted EBITDA Performance Target, Revenue Performance Target, FCF Performance Target and the non-Adjusted EBITDA performance goals and performance levels for members of the Management Team for the relevant fiscal year that have been determined by the Board and consented to by BAML Capital Partners shall be furnished to Employee by March 15 of such year, which targets, goals and levels shall remain in effect for the remainder of such fiscal year unless otherwise mutually agreed in writing by Employee and Company.
Bonus Determination and Payment The final determination of the Executive’s Earned Incentive Amounts will be subject to approval by the Board of Directors based on the terms provided for herein taking into account the recommendations of Atlas’ Chief Executive Officer and of its Compensation Committee, and will consider all aspects of the Executive’s and Atlas’ performance. Such amounts, subject to any timing and payment restrictions set out herein, shall be paid in cash not later than 30 days following the completion of a given Milestone.
Bonus Determination. Section 5.6 Buyer's Indemnified Parties - Section 8.1 Buyer's Stock - Section 2.2.3 CERCLA - Section 3.10.3 Claim - Section 8.1 Closing - Section 9 Closing Date - Section 9 Code - Section 3.5.4 Company Employees - Section 3.15.1 Disclosure Schedule - Section 12.1 DW Lakeshore Reimbursement Payment - Section 2.2.4 Employee Plans/Agreement(s) - Section 3.15.1 Environmental Laws - Section 3.10.3 ERISA - Section 3.15.1
