Bonus Plan Payments. (a) Bonuses will be paid semi‑annually, on or before the last Friday prior to July 1 and the last Friday prior to the start of the winter shutdown period. The bonus payment prior to Christmas will be based on hours paid between June 1 and November 30, and the payment prior to July 1 will be based on hours paid between December 1 and May 31. To be eligible for payment, the employee must be on the Company payroll at the time of paying except in cases of retirement or layoff. A discharge will cancel accumulated bonus as well as years of service with the Company.
Bonus Plan Payments. The Bonus Plan Cash Consideration and the Bonus Plan Equity Consideration shall be allocated to the Bonus Plan Participants as set forth on the Spreadsheet with respect to their participation in the Bonus Plan, in satisfaction of the Company’s accrued Liability to such Bonus Plan Participants under the Bonus Plan; provided, that Acquiror shall have timely received all signatures and consents reasonably necessary for such issuance. Acquiror shall distribute the shares of Acquiror Common Stock and amount of cash allocated to each respective Bonus Plan Participant (as set forth on the Spreadsheet and subject to the limitations imposed by the Bonus Plan) with such distribution and allocation to be completed as promptly after the Closing Date as reasonably possible (but in no event shall Acquiror be required to make such distribution and allocation earlier than ten (10) days after the Closing Date) (the “Bonus Plan Consideration Delivery Date”). Acquiror shall be entitled to deduct and withhold from the amount of the Bonus Plan Equity Consideration to be distributed and the amount of Bonus Plan Cash Consideration to be allocated to any Bonus Plan Participant as contemplated by this Section 6.6: (i) the amounts required to be deducted and withheld under the Code, or any provision of state, local or foreign tax law and (ii) the number of shares that Acquiror is entitled to withhold pursuant to Section 2.4 and ARTICLE 12.
Bonus Plan Payments. After the Closing, Seller shall fully satisfy any and all of its obligations under the Transaction Bonus Plan, the Sales Incentive Plan and the Team Compensation Plan, including making timely payment in full of any and all Bonus Plan Payments if and when earned, properly reporting such Bonus Plan Payments as compensation for services on all required Tax Returns and filings, and paying and withholding all required Taxes thereon, including social security, Medicare, unemployment and other employment, withholding and payroll Taxes and similar amount owed as a result of such Bonus Plan Payments, in each case in accordance with the terms and subject to the conditions of the Transaction Bonus Plan, the Sales Incentive Plan and the Team Compensation Plan, as applicable.
Bonus Plan Payments. “Bonus Plan Payments” shall mean all amounts payable after the Closing under the Transaction Bonus Plan, the Sales Incentive Plan and the Team Compensation Plan.
Bonus Plan Payments. (a) On each of the dates hereof, October 3, 1998, April 3, 1999, April 3, 2000 and October 3, 2000 (each, a "Payment Date" and collectively, the "Payment Dates'), amounts are to be distributed by the Shareholders' Representative to participants under the Plan (the "Participants") in such amounts and at such times as set forth on EXHIBIT A, net of all withholding taxes and deferrals under CCAi's 401k plan or other benefit plans (the "Bonus Plan Payments"); provided, however, that if a Termination Event (as defined in the Plan) has occurred with respect to a Participant, such Participant shall no longer be entitled to receive any future Bonus Plan Payments.
Bonus Plan Payments. In connection with any payment of any portion of the Total Combined Transaction Payments pursuant to this Agreement, Keynote shall pay an amount of the Total Combined Transaction Payments equal to the Bonus Plan Liability to the persons and in the relative proportions set forth on Schedule 5.13 to the Vividence Disclosure Letter (the “Bonus Plan Participants”). Such payments pursuant to this Section 5.13 shall be in full satisfaction of all liabilities payable under the Vividence Incentive Bonus Plan, as amended and restated and approved by the Company’s Board of Directors on August 18, 2004. Keynote shall be entitled to deduct and withhold from any payments to the Bonus Plan Participants such amounts as may be required to be deducted or withheld therefrom under the Code or applicable state, local or foreign law. To the extent any such amounts or deducted or withheld, such amounts shall be treated for all purposes as having been paid to the person to whom such amounts would otherwise have been paid. It is acknowledged and agreed by the parties that the Bonus Plan Participants shall have no interest in the Escrowed Funds, the Escrowed Lease Funds or the Total Earnout Payment until such time as any such funds become payable to the Bonus Plan Participants pursuant to the terms of this Agreement. It is expressly understood that participation under the Vividence Incentive Bonus Plan is not intended to serve as compensation for any future services to Keynote or the Surviving Corporation and shall not be deemed to require Keynote to make any offer of employment to any Bonus Plan Participant, shall not constitute a guarantee of any employment by Keynote and shall not otherwise affect such participant’s status as an “at-will” employee of Keynote, if such participant is employed by Keynote after the Closing.
