Employee Bonus Pool definition

Employee Bonus Pool means an amount up to $9,000,000 reserved from the proceeds of the Senior Notes which shall be used by the Company to pay employee compensation and bonuses on or after the Closing Date so long as such employee compensation and bonuses are paid on or before December 31, 2011.

Employee Bonus Pool the gross sum of $1,862,717 to be paid by the Buyer to the Company on or prior to Completion; Employee Bonus Pool Allocation: the allocation sheet attached at Schedule 12 which sets out the Employee Bonus that shall be paid to each Specified Employee by the Company; Encumbrance: any interest or equity of any person (including any right to acquire, option or right of pre-emption) or any mortgage, charge, pledge, lien, assignment, hypothecation, security interest, title retention or any other security agreement or arrangement or other third party right, or any agreement, arrangement or obligation to create any of the same; Expert: an arbitrator appointed pursuant to Clause 5 or an accountant appointed pursuant to Schedule 9 (as the case may be); Former Employees: those former employees of the Company identified on the Employee Bonus Pool Allocation, who shall be paid an Employee Bonus by the Company under Clause 4.5;

Employee Bonus Pool has the meaning set forth in Section 6.24.

Examples of Employee Bonus Pool in a sentence

• The ExBP shall be paid at the same time as the 6% PTPC Non-executive Employee Bonus Pool and within ten (10) days after the Employer's accountants have completed the net pre-tax audit and has been accepted by the Board of Directors.

• On the Effective Date, 10,287,500 shares of Existing NTI Series B Common Stock and the Employee Bonus Pool Reorganized NWI Equity Interests shall be granted to Current Active Employees and the outside directors from the Current Active Employee Confirmation Bonus Pool.

• Employee Bonus Pool Reorganized NWI Equity Interests means that number of Reorganized NWI Equity Interests equal to the sum (such sum to be rounded down to the nearest whole number) of (i) the product of (A) 10,287,500 multiplied by the Per Share Cash Distribution Amount and (B) 1.2, (ii) 3,910,278.75 and (iii) 10,287,500.

• Current Active Employee Confirmation Bonus Pool means a pool of (i) 10,287,500 shares of Existing NTI Series B Common Stock and (ii) the Employee Bonus Pool Reorganized NWI Equity Interests that shall, subject to the terms hereof, be allocated by the Bonus Pool Committee to Current Active Employees and the outside directors prior to the Confirmation Date and that shall be granted by NTI and Reorganized NWI, respectively, to such employees and directors as of the Effective Date.

• In addition, the Company hereby agrees that Employee shall be entitled to receive from the moneys allocated to the Management and Employee Bonus Pool (the "MBP") a payment equal to five percent (5%) of the Net Proceeds to Securityholders.

More Definitions of Employee Bonus Pool

Employee Bonus Pool has the meaning given in Schedule 10 “Encumbrance” any encumbrance, restriction on transfer, security interest, mortgage, charge, pledge, lien, assignment, option, right to acquire, right of pre-emption or other third party right and any agreement, arrangement or obligation to give or create any of the same “Executive Board” the executive board of the Company following Completion constituted in accordance with the articles of association of the Company from time to time and comprising representatives of the Buyer and the Seller “Executive Leadership Team” Xxxxxxx Xxxxxx, Xxxxxx Xxxxxx-Xxxxx, Xxxxx Xxxx, Xxxxxxxx Xxxxx and Xxxxxx Xxxxxx “First Deferred Consideration” the sum equal to 25% of the Consideration

Employee Bonus Pool means an amount not to exceed $950,000 that will be available for the payment of bonuses to certain employees of the Company Entities, which bonuses will be triggered upon the consummation of the Merger.

Employee Bonus Pool means $1,330,000 (One Million Three Hundred Thirty Thousand Dollars).

Employee Bonus Pool means the employee bonus pool of an aggregate of $540,000 to be distributed to Employees upon Closing;

Employee Bonus Pool is defined in Section 2.2(a)(iv).

Employee Bonus Pool means the employee bonus pool to be established by the Company, which will be paid to employees of the Company as described in Schedule E.

Employee Bonus Pool is defined in Section 5.22.