Bonus Obligations definition

Bonus Obligations means any payment accrued in respect of Employees of the Business under the Executive Bonus Plan of Seller or any other bonus plan of Seller or its Subsidiaries for the portion of Seller's fiscal year in which the Closing Date occurs that has elapsed prior to the Closing Date (and for any prior fiscal year, if not paid prior to the Closing Date) based on the level of achievement of the bonus criteria specified in such plans for such bonuses; provided that no payments payable under any sales incentive plans of Seller or its Subsidiaries shall constitute Bonus Obligations.
Sample 1
Bonus Obligations means all severance, incentive, stay bonus or change of control obligations (whether payable prior to, on or after the Closing Date) that arose or may arise under any Employee Benefit Plan of any Park Company or other contract in whole or in part as a result of the consummation of the transactions contemplated by this Agreement.
Sample 1
Bonus Obligations means the aggregate amount payable by the Company to Company Employees pursuant to (i) the 2009 Employee Bonuses and (ii) the Transaction Bonuses, but, in each of clauses (i) and (ii), only to the extent such amounts are payable on or after the close of business on the Business Day immediately preceding the Closing.
Sample 1

Examples of Bonus Obligations in a sentence

  • As a condition for the payment of any post-Termination Date benefits to be provided hereunder except for Accrued Base Obligations, Accrued Performance Bonus Obligations and Accrued Retention Bonus Obligations, Executive shall deliver to Company a release in favor of Company in a customary form prior to the 52nd day after the termination date.

  • Any Accrued Base Obligations (as defined below) other than employee benefits, Accrued Performance Bonus Obligations (as defined below), Accrued Retention Bonus Obligations (as defined below), Partial Period Performance Bonus Obligations (as defined below), and Partial Period Retention Bonus Obligations (as defined below), which are payable to Executive as provided in any of Sections 4.2 through 4.6 below, shall be paid within thirty (30) days after the Termination Date.

  • As a condition for the payment of any post-Termination Date benefits to be provided hereunder except for Accrued Base Obligations, earned but unpaid Performance Bonus for fiscal years ended prior to the Termination Date, and Accrued Bonus Obligations, Executive shall deliver to the Company a release in favor of the Company in the form attached hereto as Exhibit A.

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  • Accrued Base Obligations shall be paid within thirty (30) days after the Termination Date, and Accrued Bonus Obligations shall be paid on the date on which they would have been paid under this Agreement absent the occurrence of the Termination Date.

  • As a condition for the payment of any post-Termination Date benefits to be provided hereunder except for Accrued Base Obligations and Accrued Bonus Obligations, prior to the date of any such payment Executive shall deliver to Company a release in favor of Company in the form attached hereto as Exhibit B prior to the 52nd day after the Termination Date (the “Release”).

  • In the event Executive’s employment is voluntarily terminated by Executive without Good Reason, Company shall not be obligated to make any further payments to Executive hereunder other than Accrued Base Obligations and Accrued Bonus Obligations through the Termination Date.

  • The parties acknowledge and agree that a portion of the Retention Bonus Obligations may become due and payable by the Companies or their Subsidiaries on the one (1) year anniversary of the Closing Date (the “Retention Bonus Date”).

  • Except as described in Section 3.1(s) of the Disclosure Letter, for the Services Agreement and for Contracts of employment, the Company is not a party to any Employee Bonus Obligations, any Contract with any officer, director, employee, shareholder or any other related party of the Company.

  • Based on the foregoing, the Debtors seek authority to pay approximately $325,000 on account of Compensation Obligations; consisting of $25,000 in Base Compensation Obligations; and $300,000 in Performance Bonus Obligations.


More Definitions of Bonus Obligations

Bonus Obligations means the total amount of annual cash incentive compensation paid to the Transferred Employees in respect of full year 2023.
Sample 1
Bonus Obligations means all payments, bonuses, severance, deferred compensation and similar items owing to any employee of, independent contractor to, or former holder of equity in, the Company, including without limitation all Transaction-Related Bonuses.
Sample 1
Bonus Obligations means any payment due to Employees of the Business under the Executive Bonus Plan of Seller for the 2005 fiscal year not already paid by Target Company prior to the Closing Date.
Sample 1
Bonus Obligations means any cash bonus payment accrued in respect of Employees of the Business under the short-term incentive plan of Parent for calendar year 2007.
Sample 1
Bonus Obligations means the total of the Grantor’s obligations to a Beneficiary, or if the context indicates that such term is used to refer to one or more persons, to the Beneficiaries either pursuant to the Bonus Programs established by the Grantor (such policy being subject to change, including changes based upon changes to the applicable law) or pursuant to the Retention Letter(s), which also may be subject to change as permitted by law. The aggregate amount of the Bonus Obligations shall be reduced to the extent of Grantor’s payment, or the payment from the Trust, of amounts due under the Retention Letter(s) or pursuant to the Bonus Programs, and may increase in accordance with the terms of certain of the Retention Letters or those programs.
Sample 1

Related to Bonus Obligations

  • U.S. Obligations means non-redeemable securities evidencing an obligation to timely pay principal and/or interest in a full and timely manner that are direct obligations of the United States of America for the payment of which its full faith and credit is pledged.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Refunded Obligations means, collectively, the Refunded Notes, if any, and the Refunded Bonds, if any, refunded by each Series.

  • Accrued Obligation means the sum of (a) Executive’s Annual Base Salary through the Termination Date for periods through but not following his Separation From Service and (b) any accrued vacation pay earned by Executive, in each case, to the extent not theretofore paid.

  • L/C Obligation means, as at any date of determination, the aggregate maximum amount then available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts in respect of Letters of Credit, including all L/C Borrowings.

  • Employee Obligations means all wages, bonuses, vacation pay, sick time, pension payments, overtime pay, change of control payments, severance pay and any other termination or severance obligations and any other compensation or obligation which may be due by statute, contract or Law relating to the employment of the Employees.

  • Accrued Obligations means (i) all accrued but unpaid Base Salary through the date of termination of Executive’s employment, (ii) any unpaid or unreimbursed expenses incurred in accordance with Section 7 hereof, and (iii) any benefits provided under the Company’s employee benefit plans upon a termination of employment, in accordance with the terms contained therein.

  • Escrow Obligations means (a) Government Obligations, (b) certificates of deposit issued by a bank or trust company which are (1) fully insured by the Federal Deposit Insurance Corporation or similar corporation chartered by the United States or (2) secured by a pledge of any Government Obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured, which security is held in a custody account by a custodian satisfactory to the Registrar or the Registrar, as the case may be, or (c)(1) evidences of a direct ownership in future interest or principal on Government Obligations, which Government Obligations are held in a custody account by a custodian satisfactory to the Registrar pursuant to the terms of a custody agreement in form and substance acceptable to the Registrar and (2) obligations issued by any state of the United States or any political subdivision, public instrumentality or public authority of any state, which obligations are fully secured by and payable solely from Government Obligations, which Government Obligations are held pursuant to an agreement in form and substance acceptable to the Registrar and, in any such case, maturing as to principal and interest in such amounts and at such times as will insure the availability of sufficient money to make the payment secured thereby.

  • Bonus Payments means that portion of the bonus payments received by the

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • Obligation Category means Payment, Borrowed Money, Bond, Loan, or Bond or Loan, only one of which shall be specified in the Standard, and:

  • Bonus Amount means the greater of (i) the average annual incentive bonus earned by Executive from the Company (or its affiliates) during the last three (3) completed fiscal years of the Company immediately preceding Executive’s Date of Termination (annualized in the event Executive was not employed by the Company (or its affiliates) for the whole of any such fiscal year), and (ii) the Executive’s target annual incentive bonus for the year in which the Date of Termination occurs.

  • Earn Out Obligations means, with respect to an Acquisition, all obligations of the Company or any Subsidiary to make earn out or other contingency payments pursuant to the documentation relating to such Acquisition. The amount of any Earn Out Obligation shall be deemed to be the aggregate liability in respect thereof as recorded on the balance sheet of the Company and its Subsidiaries in accordance with Agreement Accounting Principles.

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • Transaction Bonuses means any transaction bonuses payable by the Sellers or their Affiliates on or after the Closing to the Transferred Employees.

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

  • Specified Obligations means Obligations consisting of the principal and interest on Loans, reimbursement obligations in respect of LC Disbursements and fees.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Bank Products Obligations of any Person means the obligations of such Person pursuant to any Bank Products Agreement.

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.

  • Other Benefit Obligations means all obligations, arrangements, or customary practices, whether or not legally enforceable, to provide benefits, other than salary, as compensation for services rendered, to present or former directors, employees, or agents, other than obligations, arrangements, and practices that are Plans. Other Benefit Obligations include consulting agreements under which the compensation paid does not depend upon the amount of service rendered, sabbatical policies, severance payment policies, and fringe benefits within the meaning of IRC ss. 132.

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Retained Obligations shall have the meaning set forth in Section 2.6.

  • Current Pay Obligation means a Collateral Debt Obligation that would otherwise be a Defaulted Obligation, but as to which: