Distribution Bonus definition

Distribution Bonus. Employer shall pay Employee "Distribution Bonuses", at the same times as the shareholders of Employer receive distributions from Employer in respect of their common shares of Employer, except for "Excluded Payments" (as defined below), if, but only if, Employee is still employed by Employer under this Agreement on the date of such distribution. The amount of each Distribution Bonus payable to Employee shall be (i) the number of common shares of Employer that Employee has the right to acquire pursuant to the unexercised portion of the option granted to Employee pursuant to Section 2.C. as of the record date for the applicable distribution, multiplied by (ii) the "Per Share Distribution Amount" (as defined below).
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Examples of Distribution Bonus in a sentence

  • Any dividends accruing and payable in respect of such shares shall be in lieu of, and not in addition to, any subsequent Distribution Bonus.

  • For illustrative purposes only, in the event the Executive’s employment is terminated by the Company without Cause on June 1, 2018, the Executive would be entitled to receive a cash bonus in an amount equal to the sum of (x) the Relevant Date FMV of 100,000 Class A-2 Units of Holdings (i.e., 3 unpaid Retention Bonus installments multiplied by 33,333.334 Class A-2 Units of Holdings), plus (y) a Distribution Bonus in respect of 100,000 Class-2 Units.

  • Upon Employee's breach or violation of, or failure to comply with, any provision of this Agreement, Employer shall have, in addition to any other remedies provided in this Agreement, no further obligation under this Agreement to pay Employee any Discretionary Bonus, Distribution Bonus or Severance Pay or to make the installment payments called for by Section 4F above or the payment called for by Section 5A above.