Examples of Bonus Pool in a sentence
Interests in the Bonus Pool will be awarded at the discretion of the Chief Executive Officer subject to approval of the Board, at any time following the adoption of the Plan, with the initial allocations shall be made no later than December 31, 2020; provided that if dSpace Investments Limited (“dSpace”) does not have a designated director serving on the Board, the consent of dSpace will be required in lieu of Board approval.
Each Participant shall be notified of his or her allocation of the Bonus Pool (the “Interest”) in a Triggering Event Bonus Agreement, if and when awarded hereunder (the amount of the Bonus Pool representing such Interest, a “Bonus Amount”, which may be specified not to exceed a certain dollar amount).
The Plan will operate through the establishment of a Bonus Pool, which shall be equal to $5,400,000.
Subject to the Board’s discretion to determine otherwise for any or all Participants (which determination shall be deemed to have been made if the Board shall have approved a definitive agreement or plan in respect of any Triggering Event that addresses the treatment of Bonus Amounts), the Bonus Pool (and any Bonus Amount actually payable to any or all Participant) shall consist of cash and/or equity.