Closing Bonus Sample Clauses
A Closing Bonus clause establishes a financial incentive paid to a party, typically an employee or executive, upon the successful completion of a transaction such as a merger, acquisition, or sale of a business. This bonus is usually contingent on the deal closing and may be calculated as a fixed amount or a percentage of the transaction value. The core function of this clause is to motivate key individuals to work towards the successful and timely completion of the transaction, aligning their interests with those of the company and ensuring commitment throughout the closing process.
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Closing Bonus. The Employee shall be entitled to receive a cash bonus equal to four hundred thousand U.S. Dollars ($400,000) upon the closing of a Change in Control (as defined in Section 8 hereof), payable in a single lump-sum by the Subsidiary on the closing of the Change in Control (such bonus, the "Closing Bonus").
Closing Bonus. The Company shall pay Executive a one-time cash bonus in an amount equal to US$750,000 upon the occurrence of the Closing.
Closing Bonus. Subject to subsection (e) of this Section 2.1, if the Executive is continuously employed by COMSAT from the Signing Date through the Closing Date (or, if the Closing Date has not occurred as of the Drop Dead Date, through the Drop Dead Date) and the Executive has not received or delivered a notice of termination on or before the Closing Date (or, if the Closing Date has not occurred as of the Drop Dead Date, on or before the Drop Dead Date), the Executive shall receive a Closing Bonus in an amount to be determined as follows: if the Closing Date occurs prior to the Drop Dead Date or if the Closing Date has not occurred as of the Drop Dead Date, the amount of such Closing Bonus shall be equal to one hundred and fifty percent (150%) of the sum (such sum, the Executive's "Closing Date Total Cash Compensation") of (i) the Executive's Base Salary as in effect on the Closing Date (or the Drop Dead Date, if applicable) or, if higher, as in effect immediately prior to the Signing Date, and (ii) the Executive's targeted Annual Bonus (assuming that all target levels and performance measures are achieved to the maximum extent) under COMSAT's Annual Incentive Plan for the year in which the Closing Date (or the Drop Dead Date, if applicable) occurs or, if higher, the year in which the Signing Date occurs.
Closing Bonus. On the date first written above, the Company shall pay Employee a Merger closing bonus of $236,000, less any applicable withholdings. The Company shall pay Employee an additional Merger closing bonus of $189,000 (the "Additional Bonus") in 12 equal monthly installments of $15,750, less any applicable withholdings. The Company shall pay Employee the first installment of the Additional Bonus on the date first written above and each succeeding installment of the Additional Bonus on the first of each month following the date first written above.
Closing Bonus. Immediately following the approval of the merger effected pursuant to that certain Agreement and Plan of Merger and Reorganization, dated as of April 4, 2005, by and between Employer, Red Acquisition Corporation, the wholly-owned subsidiary of Employer and Company by the stockholders of Company, Company shall pay to Employee a bonus of $50,000, net of any federal, state or local withholding or other taxes or charges.”
f. Section 5.3(B) is amended by deleting the entire paragraph thereof and adding the following paragraph:
Closing Bonus. For services rendered to date, Holdings will pay to the Executive a bonus upon Closing (the "Closing Bonus") of (i) $100,000 in cash, (ii) 4,000 shares of Holdings Series A Preferred Stock and (iii) 1000 shares of Holdings Common Stock.
Closing Bonus. Provided that the Pending Transaction closes in accordance with substantially all of the terms and conditions set forth in the Purchase Agreement, in recognition of Executive’s work to complete the Pending Transaction, the Company or its successor or assign shall pay to Executive a Closing Bonus (the “Closing Bonus”) in the gross amount of Two Hundred Fifteen Thousand Dollars and No Cents ($215,000.00), less all applicable state and federal tax withholdings, to be paid in three installments (each a “Closing Bonus Payment” and collectively, the “Closing Bonus Payments”) as follows:
Closing Bonus. Upon the closing of the 2010 Private Placement (as defined in Section 4(f) below), the Company shall pay the Executive a bonus (the “Closing Bonus”) of Two Million Dollars ($2,000,000). The Closing Bonus shall be paid by the Company to Executive at the closing of the 2010 Private Placement.
Closing Bonus. The Company shall pay the Executive a Closing Bonus of $400,000.00, less applicable withholdings and deductions. The Closing Bonus shall be paid in three installments as follows: (1) $100,000.00, less applicable withholdings and deductions, on or before July 15, 2020; (2) $100,000.00, less applicable withholdings and deductions, on or before September 30, 2020; and (3) $200,000.00, less applicable withholdings and deductions, on or before December 31, 2020.
Closing Bonus. Employee hereby acknowledges receipt of a $50,000 ------------- bonus paid by the Company following the closing of the sale of the Company's Series A Preferred Stock to cover prior legal, travel and other expenses.