Bonus Equity Sample Clauses
The "Bonus; Equity" clause defines the terms under which an employee or contractor may receive additional compensation in the form of cash bonuses or equity interests, such as stock options or shares, in the company. This clause typically outlines eligibility criteria, the timing and method of bonus or equity awards, and any conditions that must be met to earn or retain these benefits, such as performance targets or continued employment. Its core function is to incentivize performance and align the interests of the individual with the long-term success of the company, while also providing clear guidelines on how such compensation is granted and managed.
Bonus Equity. (i) During the Term, the Employee shall also be entitled to an annual bonus in the gross amount of ONE HUNDRED FORTY THOUSAND DOLLARS ($140,000), less applicable taxes and customary withholdings, in respect of any year commencing with 2021 through the Initial Expiration Date (“Guaranteed Bonus”). Payment of the Guaranteed Bonus shall be made to the Employee in accordance with Company policy, but in no event later than ninety (90) days following the end of the fiscal year in respect of which it is payable (each such payment date, a “Bonus Payment Date”). It is understood and agreed that the Employee shall be eligible for such a Guaranteed Bonus only if the Employee has been continuously employed by the Company from the Amendment Effective Date through end of the applicable fiscal year, and the Employee has not, as of such Bonus Payment Date, issued notice of his resignation, regardless of the reason for such resignation or been terminated by the Company for Cause (as defined below).
(ii) Additionally, the Employee shall be eligible to participate in any bonus pool established for, or broad-based equity grant made to, employees or management of the Company, in each case at levels set in the sole discretion of the Company and upon the approval of the Compensation Committee of the Company’s Board of Directors. The Employee shall have a target bonus of ONE HUNDRED THIRTY THOUSAND DOLLARS ($130,000). Any bonus that is awarded under this provision (a “Discretionary Bonus”) shall be paid to the Employee on the Bonus Payment Date following the end of the relevant fiscal year. It is understood and agreed that the Employee shall be eligible for a Discretionary Bonus only if the Employee has been continuously employed by the Company from the Amendment Effective Date through end of the applicable fiscal year, and the Employee has not, as of such Bonus Payment Date, issued notice of his resignation, regardless of the reason for such resignation or been terminated by the Company for Cause.
Bonus Equity. Upon delivery of the purchase price for the Notes at the , the Company shall issue to the Buyer one share of the Company’s common stock for every $0.50 of purchased Note.
Bonus Equity. 5.1 You will be eligible to earn a cash bonus for each fiscal year of the Parent Company ending during the Employment Term, you will be eligible to earn an annual cash bonus (“Annual Bonus”). Your target Annual Bonus is 125% of your current remuneration if the Parent Company achieves certain performance objectives and subject to your individual performance pursuant to the Parent Company’s 2013 Executive Annual Incentive Plan (as may be amended from time to time) or any successor plan. Except as provided in Clauses 14, 15, 16 and 18 below the Annual Bonus for each period will be paid only if you are actively employed with the Company on the date of disbursement. Any Annual Bonus payable hereunder shall be paid in the calendar year following the applicable fiscal year of the Parent Company, after it has been determined by the Compensation Committee of the Board of Directors of the Parent Company (the “Compensation Committee”).
5.2 You will be eligible to participate in the Parent Company’s 2013 Executive Long Term Equity Compensation Program (the “Program”) (as may be amended from time to time) or a successor plan with an initial annual target share or unit award valued at $1,400,000 subject to the rules of the Program and an award agreement in such form as the Compensation Committee may determine from time to time.
Bonus Equity. (a) At the Closing, Bridgeline shall deliver to the transfer agent instructions to issue a stock certificate representing Two Hundred Thousand (200,000) shares of Bridgeline Common Stock (the “Additional Bridgeline Stock”) to the Escrow Agent (the “Additional Bridgeline Stock Certificate”).
(b) The Additional Bridgeline Stock Certificate shall be released to the Shareholder by the Escrow Agent if the Net Revenue generated by the Seller Business in any fiscal year (expiring on September 30th of each calendar year) (the “Annual Net Revenue”) on or before the expiration of fiscal year 2015 equals or exceeds $7,000,000 (the “Annual Net Revenue Target”).
(c) In the event that Shareholder fails to meet or exceed the Annual Net Revenue Target during each fiscal year on or before the expiration of fiscal year 2015, then the Additional Bridgeline Stock represented by the Additional Bridgeline Stock Certificate remaining with the Escrow Agent at the end of fiscal year 2015 shall be forfeited by Shareholder and returned to Bridgeline. Such forfeiture shall be evidenced by a stock power in the form attached as Exhibit 1.6(c).
(d) Within one hundred twenty (120) calendar days after the end of each fiscal year (expiring on September 30th of each calendar year), Bridgeline shall prepare a calculation of Annual Net Revenue for such fiscal year. Promptly following Bridgeline’s determination of such Annual Net Revenue for such fiscal year, Bridgeline shall deliver the calculation to Shareholder (the “Annual Net Revenue Notice”).
(e) The Shareholder shall have twenty (20) days from the date of receipt of an Annual Net Revenue Notice to either (i) accept the calculations made in the Annual Net Revenue Notice or (ii) give notice to Bridgeline in writing that Shareholder intends to dispute the calculations included in the Annual Net Revenue Notice, and such notice shall set forth in reasonable detail the disputed amount and the basis for such dispute. Any such dispute by Shareholder must be reasonable and made in good faith.
(i) If Shareholder notifies Bridgeline that it intends to dispute the calculations included in the Annual Net Revenue Notice in accordance with Section 1.6(e) above, then Bridgeline and Shareholder shall negotiate in good faith to resolve the dispute. If Bridgeline and Shareholder are unable to reach a resolution within twenty (20) business days after receipt by Bridgeline of Shareholder’s written notice of dispute, then Bridgeline and Shareholder shall sub...
Bonus Equity