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Amount of Benefit
Amount of Benefit contract clause examples
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Amount of Bonus. Subject to the payment schedule and provisions of Paragraph 5 below, Albany agrees to pay to Employee a retention bonus in a gross sum equal to $750,000.00 (the “Retention Bonus”) by check or direct deposit, less applicable withholdings and deductions required by law, or otherwise agreed to by the parties.

The amount of such contributions for each plan year shall be an amount determined by the employer, in its sole discretion, after the plan administrator has determined the amount needed to satisfy the actual deferral percentage test or the actual contribution percentage test, or both.

The amount of each lump sum payment shall be equal to the balance of the Deferral Account, as of the Valuation Date immediately preceding the date of any distribution from the Plan. In the case of a lump sum payment made upon the occurrence of an Unforeseeable Emergency, the amount shall be such portion of such balance as the Committee, in its sole discretion, shall determine, as being reasonable necessary to meet the need created by such Unforeseeable Emergency, plus any applicable taxes. The amount of each installment payment shall be equal to the balance of the Deferral Account as of the Valuation Date immediately preceding the date of payment multiplied by a fraction, the numerator of which is one and the denominator of which is the number of years remaining in the period over which installments are to be paid. Installment distributions to be made in Stock shall be rounded to the nearest whole share. Notwithstanding anything in the Plan to the contrary, all distributions, except those made on account of a Change in Control, are subject to the Deduction Limitation.

Amount of Award. The Committee shall establish a maximum amount of a Participant’s Award, which amount shall be denominated in Shares in the case of Performance Shares or in dollars in the case of Performance Units.

Target Incentive Amount. Each Participant’s target incentive amount for a Plan Year will be determined by the Plan Administrator, in his, her, or its discretion, and may be adjusted from time to time; provided, however, that a Participant will be deemed to have a target incentive amount of $0 for any portion of the Plan Year during which the Participant is not eligible to participate in the Plan. If a Participant is assigned more than one target incentive amount during a Plan Year, the target incentive amount used to calculate the Participant’s short-term incentive compensation for such Plan Year will equal the sum of the results obtained by multiplying each target incentive amount by the portion of the Plan Year such target incentive amount was in effect, as determined by the Plan Administrator in his, her, or its discretion.

Settlement Amount; Payment. IGI shall pay $200,000 to PBGC (the “Settlement Payment”) within 14 days after the Effective Date. The Settlement Payment shall be paid in cash by wire transfer in accordance with the instructions attached hereto as [Exhibit A].

Expected Warehousing Advance date.

A Participant may elect within the period specified in [Section 4.01(b)] of the Adoption Agreement to defer the following amounts of remuneration. For each type of remuneration listed, complete “dollar amount” and/or “percentage amount”.

Annual Deferral Amount. For each Plan Year, a Participant may elect, subject to withholding described in [Section 5.2(a)], to defer Salary and Bonus according to the following schedule:

Transaction Expense Amount. Upon Closing, the Company shall pay a one-time non-refundable, non-accountable sum equal to Four Thousand Five Hundred and No/100 United States Dollars (US$4,500.00) to the The EquiLux Group, L.P. cover the Holder's due diligence, analysis monitoring, and other transaction costs incurred for services rendered in connection herewith (the “Transaction Expense Amount”). The Transaction Expense Amount shall be offset against the proceeds of the Note and be deemed a payment of such portion of the Purchase Price hereunder.

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