Transition Bonus Payment Sample Clauses

Transition Bonus Payment. Colleague’s participation in the Executive Officer Bonus Plan is terminated on the Effective Date and, therefore, Colleague will not be entitled to any bonus under the Executive Officer Bonus Plan for periods ending on or after the Effective Date. However, in order to facilitate a smooth transition, Energizer will pay Colleague a Transition Bonus. If, and to the extent that the performance goals are achieved under the terms of the Executive Officer Bonus plan, Energizer will pay the Transition Bonus on the same date that the Executive Officer Bonus would have been paid had Colleague’s employment continued until the date of payment under the Executive Officer Bonus Program for the entire fiscal year 2017. You are currently eligible for a 80% bonus under the Executive Officer Bonus Plan and the same percentage will apply to the Transition Bonus payment. The Transition Bonus payment will be calculated using the same methodology used to calculate other Executive Officer Bonus Plan payments. The anticipated payment date is November 30, 2017, but in no event shall the payment date be later than December 31, 2017, if and to the extent that the Colleague is eligible for a payment hereunder.
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Transition Bonus Payment. Executive will receive a lump sum cash payment of $562,500 (the “Transition Bonus Payment”) to be paid at the end of the Transition Period for completion of the Transition Services, subject to Executive’s execution and non-revocation of the Final Release by the Final Release Deadline, with such Transition Bonus Payment to be paid within ten (10) days following the effectiveness of the Final Release. Notwithstanding the foregoing, in the event of a Qualifying Termination or Executive’s termination due to his death or Disability (as set forth in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”)) prior to the completion of the Transition Period, subject to Executive’s execution and non-revocation of the Final Release by the Final Release Deadline, Executive shall be paid the full amount of the Transition Bonus Payment within ten (10) days following the effectiveness of the Final Release. If, prior to the end of the Transition Period, Executive resigns his employment absent a written request of the Company to do so (other than due to death or Disability), or is terminated by the Company for Cause, he will not be entitled to any Transition Bonus Payment. Executive will not be eligible to participate the Company’s FY19 Bonus Plan.
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Transition Bonus Payment. Colleague will not be entitled to any bonus under the Executive Officer Bonus Plan for periods ending on or after the Transition Date. If, and to the extent that the performance goals are achieved under the terms of the Bonus Plan for the 2022 fiscal year, Energizer will pay Colleague a transition bonus (the “Transition Bonus”) on the same date the 2022 bonus would have been paid had Colleague’s employment continued until the date of payment under the Bonus Plan for the entire fiscal year 2022. Any Transition Bonus shall equal a pro rata portion of the amount Colleague would have earned under the Bonus Plan for the 2022 fiscal year based on the number of full months of employment from October 1, 2021 to the Retirement Date. The anticipated payment date for the Transition Bonus is November 30, 2022, but in no event shall the payment date be later than December 31, 2022, if and to the extent that the Colleague is eligible for a payment hereunder.
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Transition Bonus Payment. The Company shall pay to Hollister a transition bonus in the aggregate amount of $63,000 in cash (the “Transition Bonus Payment”). The Transition Bonus Payment shall be payable by the Company to Hollister in a single lump sum on March 9, 2007 (the “Effective Date”); provided that such payment shall be subject to reduction in respect of applicable federal, state and local tax withholdings.
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Transition Bonus Payment. In return for the Employee’s promises in this Agreement, the Company will provide the Employee with a target bonus representing 45% of the Employee’s annual base salary of $501,900 (the “Transition Bonus Payment”), with the amount of the Transition Bonus Payment to be determined based on the Company’s actual results against the Company’s financial and other corporate goals of the Company’s bonus plan for fiscal year 2020 and provided that bonuses are awarded to other Company executives. The Transition Bonus Payment will be paid in a single, lump-sum payment at the same time that bonuses for 2020 are paid to other executives, as long as this Agreement has become effective.
Sample 1
Transition Bonus Payment. Colleague’s bonus, if any, under the Executive Officer Bonus Plan (the “Bonus Plan”) for the fiscal year ending September 30, 2019 shall be earned and payable pursuant to the terms of the Bonus Plan. Colleague will not be entitled to any bonus under the Bonus Plan for periods ending on or after the Effective Date. If, and to the extent that the performance goals are achieved under the terms of the Bonus Plan for the 2020 fiscal year, Energizer will pay Colleague a transition bonus (the “Transition Bonus”) on the same date the 2020 bonus would have been paid had Colleague’s employment continued until the date of payment under the Bonus Plan for the entire fiscal year 2020. Any Transition Bonus shall equal a pro rata portion of the amount Colleague would have earned under the Bonus Plan for the 2020 fiscal year based on the number of full months of employment from October 1, 2019 to the Retirement Date. The anticipated payment date for the Transition Bonus is November 30, 2020, but in no event shall the payment date be later than December 31, 2020, if and to the extent that the Colleague is eligible for a payment hereunder.
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Transition Bonus Payment. Subject to the limitations in this Section 5, in return for the Employee’s promises in this Agreement, the Company will provide the Employee with a target bonus representing 45% of the Employee’s annual base salary of $501,900 (the “Transition Bonus Payment”), with the amount of the Transition Bonus Payment to be determined based on the Company’s actual results against the Company’s financial and other corporate goals of the Company’s bonus plan for fiscal year 2020 and provided that bonuses are awarded to other Company executives. The Transition Bonus Payment will be paid in a single, lump-sum payment at the same time that bonuses for 2020 are paid to other executives, as long as this Agreement has become effective. For the avoidance of doubt, the Transition Bonus Payment will not be due or payable by the Company to Employee in the event the bonus for 2020 performance has already been paid to Employee at or prior to the Effective Date.
Sample 1
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Transition Bonus Payment. The Bank shall pay or provide to Employee the following items upon the effective time of the merger of Big Lake with and into the Bank or as soon thereafter as permitted by applicable laws and regulations. The Bank Merger has been approved by all applicable regulatory authorities. The Company will merge Big Lake with and into the Bank at the earliest possible time, consistent with the conversion of Big Lake’s data systems, which is currently scheduled for June 1, 2006.
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Transition Bonus Payment. As an incentive for you to remain with the Company through the Transition Period, you will be paid a transition bonus in the amount of $90,000 (the “Transition Bonus”), subject to the “Transition Bonus Conditions” provided below. The Transition Bonus will be paid, less applicable withholdings and deductions, on the next regularly scheduled pay date following August 31, 2010, unless local law requires that it be paid sooner.
Sample 1

Related to Transition Bonus Payment

  • Bonus Payment Executive will receive a lump-sum payment equal to one hundred fifty percent (150%) of the higher of (A) the greater of (x) Executive’s target bonus for the fiscal year in which the Change of Control occurs (as in effect immediately prior to the Change of Control) or (y) Executive’s target bonus as in effect for the fiscal year in which Executive’s termination of employment occurs, or (B) Executive’s actual bonus for performance during the calendar year prior to the calendar year during which the termination of employment occurs. For avoidance of doubt, the amount paid to Executive pursuant to this Section 3(b)(iii) will not be prorated based on the actual amount of time Executive is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the termination occurs.

  • Bonus Payments In addition to Base Salary, Executive shall be entitled, during the Employment Term, to participate in and receive payments from all bonus and other incentive compensation plans (as currently in effect, as modified from time to time, or as subsequently adopted) of the Company; provided, however, that nothing contained herein shall grant Executive the right to continue in any bonus or other incentive compensation plan following its discontinuance by the Board (except to the extent Executive had earned or otherwise accumulated vested rights therein prior to such discontinuance).

  • Retention Bonus You will be eligible for a lump sum cash payment on the first anniversary of the Acquisition Date provided that you are employed by the Company as of such date in an amount equal to the sum of (i) 100% of your annual base salary in effect as of the Acquisition Date, plus (ii) 100% of the annual bonus paid to you for the Company’s fiscal year ending December 31, 2008 (such sum, the “First Year Retention Bonus”). You will be eligible for a lump sum cash payment on the second anniversary of the Acquisition Date provided that you are employed by the Company as of such date in an amount equal to the sum of (i) 100% of your annual base salary in effect as of the Acquisition Date, plus (ii) 100% of the annual bonus paid to you for the Company’s fiscal year ending December 31, 2008 (such sum, the “Second Year Retention Bonus”). Except as set forth below, you will not be eligible for the retention bonuses as set forth above if your employment terminates prior to such applicable anniversary. In the event of your Voluntary Termination for Good Reason (as defined below), the termination of your employment by the Company other than for Justifiable Cause, or in the event of your death or “permanent disability” as defined in the Company’s long-term disability policy (i) during the first twelve month period following the Acquisition Date, you will be eligible for a pro rata portion of the First Year Retention Bonus, counting full months of employment with the Company from the Acquisition Date through such termination, and (ii) during the second twelve month period following the Acquisition Date, you will be eligible for a pro rata portion of the Second Year Retention Bonus, counting full months of employment with the Company from the first anniversary of the Acquisition Date through such termination. Any prorated payment pursuant to the preceding sentence shall be made within 10 business days of such termination. If the annual bonus payment for the Company’s fiscal year ending December 31, 2008 has not been paid to you or otherwise determined by the Company as of the date the prorated payment is due, the prorated payment shall be calculated using your target bonus amount for 2008. Payments under this Section 8 shall be net of any applicable withholding taxes. For purposes of this Section 8, “Voluntary Termination for Good Reason” shall have the same meaning as given to such term under the Key Employee Change in Control Severance Plan as in effect immediately prior to the Acquisition Date, but with respect to the First Year Retention Bonus only, determined without regard to clause (ii) thereof.”

  • Retention Bonuses Provided Executive becomes and remains an active employee of Mercantile, Mercantile will pay Executive retention bonuses in accordance with the following schedule:

  • 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.

  • Bonus Amount For purposes of this Agreement, "Bonus Amount" shall mean the greater of (a) the target annual bonus payable to the Executive under the Incentive Plan in respect of the fiscal year during which the Termination Date occurs or (b) the highest annual bonus paid or payable under the Incentive Plan in respect of any of the three full fiscal years ended prior to the Termination Date or, if greater, the three (3) full fiscal years ended prior to the Change in Control.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Severance Payment Executive will be paid continuing payments of severance pay at a rate equal to Executive’s base salary rate, as then in effect, for twelve (12) months from the date of such termination of employment, to be paid periodically in accordance with the Company’s normal payroll policies.

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