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. 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 $82,500, less any applicable withholdings.
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. 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. 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.”
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. 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. Subject to the approval of the Board and contingent upon the closing of the Merger, the Executive shall be eligible for a one-time award of restricted stock units under the Plan with a targeted value of $1,400,000 at grant (the “Closing RSU Award”). The Closing RSU Award is in addition to the Initial Equity Award for which the Executive may be eligible pursuant to Section 3(c) (Equity Compensation). The Closing RSU Award is subject to both (a) a time-based vesting component (annual vesting over three years), and (b) a performance-based vesting component (the 20-day average closing price of a share of the Company’s common stock must reach $11.50 on or after the 151st day following, and within five years of, the closing of the Merger). The Closing RSU Award will vest in full on the first date both requirements are satisfied. The Closing RSU Award will be subject to the terms of the Plan and the award agreement, which shall control in the event of any conflict with this Agreement.
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.
