Move Bonus Clause Samples

A Move Bonus clause establishes an additional payment or incentive provided to a party, typically an employee or contractor, for successfully completing a relocation or move as specified in an agreement. This clause outlines the conditions under which the bonus is earned, such as timely completion of the move, adherence to budget, or meeting specific performance criteria. Its core practical function is to motivate and reward the party for undertaking the logistical and personal challenges associated with moving, thereby ensuring the relocation process is completed efficiently and in line with the employer's or client's requirements.
Move Bonus. The Executive shall be paid a one time move bonus of $75,000 payable as follows: (i) $37,500 shall be paid when the accounting and payroll systems for the Company which are currently operated at Vision 21's office in Largo, Florida are moved to and are operational in Baltimore, Maryland, in a commercially reasonable manner; and (ii) $37,500 shall be paid when the AS 400 operating system and the claims processing and member services functions which are currently operated at Block Vision's office in Boca Raton, Florida are moved to and are operational in Baltimore, Maryland, in a commercially reasonable manner.
View SourceView Similar (5)
Move Bonus. The Executive shall be paid a move bonus (the "Move Bonus") of $75,000 as follows: (i) $37,500 shall be earned and paid when the accounting and payroll systems for the Company which are currently operated at Vision 21's office in Largo, Florida are moved to and are operational in Baltimore, Maryland, in a commercially reasonable manner; and (ii) $37,500 shall be (1) earned when the AS400 operating system and the claims processing and member services functions which are currently operated at Block Vision's office in Boca Raton, Florida are moved to and are operational in Baltimore, Maryland in a commercially reasonable manner, and (2) paid upon termination of the Bridge Loan Commitment to be provided for in the amended and restated credit agreement to be entered into on or about November 10, 2000 among the Company, the Bank of Montreal as Agent, and the other lenders a party thereto (the "New Credit Agreement. Notwithstanding the foregoing, if the Executive's employment is terminated by the Company other than for (i) "Cause" as described in Section 5(c), or (ii) a voluntary termination by the Executive as described in Section 5(d), the balance, if any, of the Move Bonus earned and not previously paid pursuant to subsection (ii) of this Section 3(a) shall become immediately due and payable."
View SourceView Similar (5)

Related to Move Bonus

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Sick Leave Bonus For every six (6) months of perfect sick leave attendance after July 1, 1987, the employee will receive eight (8) hours of bonus time. This bonus time will be prorated for part-time employees. Such bonus time can be used for any leave purpose covered by this Agreement. Such bonus time shall be counted as vacation leave credits for purposes of determining eligibility for carry- over and cash payments.