Payment of Special Bonus Sample Clauses

Payment of Special Bonus. Executive will be eligible to receive a special bonus (the “Special Bonus”) payable upon the upon the closing of the Company Financing (as defined below) in the form of equity securities issued in the Company Financing calculated in accordance with this Section 2.3. Upon the closing of the Company Financing, the Company will issue to Executive equity securities in the Company in the same class and with the same rights and preferences as the equity securities issued pursuant to the Company Financing in an aggregate amount (based on the per share price of the equity securities issued in the Company Financing) equal to (a) $104,712, plus (b) an amount equal to $140,000 multiplied by x/365 (where x = the number of days between May 28, 2013 and the earlier to occur of (x) date of the closing of the Company Financing and (y) the effective date of any termination of Executive’s employment or consulting relationship with the Company prior to the date of the closing of the Company Financing). In the event that the Company has not closed a Company Financing prior to a Company Transaction (as defined below), at the closing of the Company Transaction, the Company will pay the Executive an amount in cash equal to the Special Bonus (provided, that for purposes of determining the portion of the Special Bonus described in clause (b) above, the term “Company Financing” shall be replaced with the term “Company Transaction”).
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Payment of Special Bonus. After the Closing, Centerprise shall cause the Company to make payments of the Special Bonus to the Persons and in the amounts set forth on a schedule to be provided by the Partner Representative to Centerprise as soon as practicable after the Closing (which schedule shall be substantially similar to the bonus projection schedule previously provided by the Company to Centerprise); provided, however, that (i) the Company shall make such payments on a monthly basis (the first payment to be made one month after the Closing Date), (ii) the aggregate payments to be made by the Company at the end of each month shall be limited to the AR collected by the Company during such month, (iii) one hundred eighty days after the Closing Date the Company shall (A) make payments of AR collected through such date and not yet paid out in accordance with this Section 8.13, and (B) distribute any then remaining AR as final payment of the Special Bonus, and (iv) in no event shall the liability of Centerprise and the Company under this Section 8.13 plus for all Taxes payable by the Company on account of the Special Bonus exceed the amount of the AR.
Sample 1
Payment of Special Bonus. 39 (ii) Page ---- 8.14 Partner Representative.............................................39
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Related to Payment of Special Bonus

  • Special Bonus In addition to the Annual Base Salary and Annual Bonus payable as hereinabove provided, if the Executive remains employed with the Company or its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the Highest Annual Bonus. The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

  • Payment of Bonus Within fifteen (15) days of such termination, the Company shall pay to the Executive his Target Bonus pursuant to Section 3(b), prorated for the number of days of employment completed by the Executive during the year in which his employment terminated.

  • Payment of Salary Executive acknowledges and represents that the Company has paid all salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Executive.

  • Payment of Special Counsel Fees Without limiting the provisions of Section 15.1, the Company shall have paid on or before the Closing the fees, charges and disbursements of your special counsel referred to in Section 4.4 to the extent reflected in a statement of such counsel rendered to the Company at least one Business Day prior to the Closing.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Payment of Compensation Subject to the provisions of this paragraph, payment of the Subadviser's compensation for the preceding month shall be made within 15 days after the end of the preceding month.

  • Payment of Bonuses The Bonus payable to an Executive for any Fiscal Year shall be paid in accordance with the following provisions:

  • Payment of Severance Subject to subsections (h) and (i) below and Section 4, if the Eligible Employee incurs a Severance during the Change in Control Protection Period, the Company shall pay to him a lump sum cash payment, no later than 10 days after the Severance Date (or the date of the Change in Control, if later), equal to two and ninety-nine one-hundredths (2.99) times the Eligible Employee’s Final Pay.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Payment of Reimbursement Amount To effect the expense reimbursement provided for in this Agreement, the Fund may offset the appropriate Reimbursement Amount against the management fees, Rule 12b-1 fees and/or shareholder servicing fees payable under the Investment Management Agreement, Rule 12b-1 Plan and/or the Shareholder Servicing Agreement. Alternatively, the Reimbursement Amount shall be paid directly by IICO, IDI and/or WISC. Such offset shall be taken, or such direct payment shall be paid, two times per year within 30 days following the date of a Fund’s applicable semi-annual or annual reporting period.

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