Emergence Bonus. If the Bankruptcy Court confirms and approves a plan of reorganization for the Company (the "Plan") and Executive is employed with the Company on the date the Bankruptcy Court approves the Plan, Executive shall receive a bonus of One Million and 00/100 Dollars ($1,000,000.00) (the "Emergence Bonus"), subject to customary withholdings for taxes. The Company, in its sole discretion, may pay the Emergence Bonus using a combination of cash (the "Cash Component") and new equity securities of the Company after confirmation of the Plan (the "Stock Component"); provided, however, in no event shall the Cash Component be less than forty percent (40%) of the Emergence Bonus. The Stock Component shall be valued in accordance with the terms of the Plan. In the event recoveries are being provided through a transaction described in the Plan where cash or securities of another company are being distributed, payment to Executive will be made in like manner, but in no event shall the Cash Component of the Emergence Bonus be less than forty percent (40%) of such amount. Payment of any withholdings for taxes as a result of the Emergence Bonus shall be deducted from the Cash Component.
Emergence Bonus. The Executive shall be paid $500,000 if the Company’s emergence from bankruptcy (the “Emergence”) pursuant to a Plan (as defined in the Restructuring Support Agreement dated as of May 9, 2016) occurs on or before October 31, 2016 (a “Qualifying Emergence”) and either (i) the Executive remains employed with the Company through the Qualifying Emergence or (ii) the Executive was terminated by the Company without Cause before the Qualifying Emergence. The Emergence Bonus, if any, will be paid within fifteen (15) days following the date of the Qualifying Emergence. For the avoidance of doubt, no Emergence Bonus will be payable if a Qualifying Emergence does not occur.
Emergence Bonus. If the Bankruptcy Court confirms and approves a plan of reorganization for the Company (the "Plan") and Executive is employed with the Company: (i) on the date the Bankruptcy Court enters an order confirming the Plan; and (ii) on the date the Bankruptcy Court enters an order finding substantial consummation of the Plan (the "Emergence Date"), Executive shall receive a bonus of Five Hundred Thousand and 00/100 Dollars ($500,000.00) (the "Emergence Bonus"), subject to customary withholdings for applicable taxes. 4.3.1
Emergence Bonus. Upon the occurrence of the Emergence Date, Executive will receive a one-time bonus equal to 100% of his Base Salary as in effect on the such date (the "Emergence Bonus").
Emergence Bonus. In the event that the Company commences judicial reorganization cases under Title 11 of the United States Code, the Executive shall receive the amount of $1,000,000 in cash or cash equivalents on the effective date of any confirmed plan of reorganization in such cases provided that: (a) the reorganization plan provides for the emergence and reorganization of at least one of the three principal businesses in which the Company is engaged as of the date of this Agreement; (b) the Executive is employed with the Company on the date that such reorganization plan is first filed in such cases in the executive position provided for in this Agreement or a more senior position; and (c) the Executive meets reasonable performance criteria as determined by the Chairman and Chief Executive Officer and the Compensation Committee of the Board of Directors during such cases.
Emergence Bonus. (a) Upon the effective date (“Effective Date”) of the Company’s plan of reorganization (either in its current form or as the same may be amended after the date hereof), the Company will be obligated to pay the Executive a bonus (the “Emergence Bonus”) in the amount of $350,000 of which $175,000 shall be paid immediately following the Effective Date and of which $175,000 shall be paid 60 days after the Effective Date.
Emergence Bonus. In addition to the Base Salary and the Retention Bonus, the Employee shall receive a one-time bonus (the "Emergence Bonus") equal to the amount that (I) either (A) $450,000 if either of the following events occur: (x) a stand-alone plan of reorganization of the Company is confirmed during the Employment Term prior to February 28, 2003, or (y) the events described in items (i), (ii) or (iv) of the definition of "Change of Control" occur during the Employment Term and the Employee's employment is subsequently terminated by the Company without Cause or by the Employee for Good Reason, or (B) in the event of the occurrence of an event described in item (iii) of the definition of "Change of Control" prior to February 28, 2003 then an amount equal to the respective value listed on Exhibit A based upon the Value of the Transaction and the date on which the Change of Control is consummated, exceeds (II)
Emergence Bonus. Within five (5) business days after Mirant's emergence from bankruptcy (or the first paydate thereafter, pursuant to Mirant's payroll policy, if later), Mirant shall pay an emergence bonus ("EMERGENCE BONUS") to Executive in a cash lump sum equal to not less than 200% of Executive's then-current Annual Base Salary, provided that Executive has been continuously employed by Mirant through the date of such emergence. For purposes of this Agreement, "emergence" shall occur when a plan of reorganization that is confirmed by the Bankruptcy Court becomes effective, as a result of which the business of Mirant is maintained on an ongoing basis, whether maintained by Mirant, the reorganized debtor or by an entity that has acquired all or substantially all of Mirant's or the debtor in possession's assets. Executive shall also be eligible to receive an additional cash payment in an amount equal to Executive's then-current Annual Base Salary subject to the same terms and conditions as are applicable to Mirant's Chief Executive Officer and Management Council for receipt of bonuses under Mirant's Key Employee Retention Program as may be approved by the Bankruptcy Court.
Emergence Bonus. Xx. Xxxxxx and Xx. Xxxxxx will each be paid an emergence bonus equal to $500,000, if Emergence occurs on or by 10/31/16 (a “Qualifying Emergence”) and either (i) he or she remains employed with the Company through the Qualifying Emergence or (ii) he or she was terminated by the Company without “cause” before the Qualifying Emergence.
Emergence Bonus. As soon as practicable following the effective date of the Plan of Reorganization, subject to Section 6(g), the Company shall pay to the Executive an amount in cash equal to $50,000 as a bonus.
