Net Bonus Payment definition

Net Bonus Payment means, with respect to a Key Employee, (a) such Key Employee’s Bonus Payment minus (b) any and all amounts otherwise payable pursuant to this Agreement in exchange for his Qualifying Company Options and his Company Common Stock.
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Net Bonus Payment means the Bonus Payment less any withholdings taken by the Company or any Affiliate for taxes and other governmental charges.
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Examples of Net Bonus Payment in a sentence

  • If, prior to December 31, 2003, Employee's employment with the Company and all Affiliates is terminated (i) by the Company or any Affiliate for Cause or (ii) because of Employee's resignation for any reason, then Employee will (A) immediately repay all Net Bonus Payment received and (B) not have any rights to any Bonus Payment.

  • In the event Employee is required to repay any Net Bonus Payment, Employee authorizes the Company and its Affiliates to deduct any amount of such payment from any salary, bonus, vacation pay, commissions or any other compensation earned by Employee and Employee specifically authorizes the Company and its Affiliates to deduct any amount of such payment from Employee's paycheck(s), including Employee's final paycheck (to the extent lawful).