Signing bonus. You will receive a one-time signing bonus of twenty-five thousand dollars ($25,000), payable in a single lump sum cheque on the next regular payment date after the effective date. The signing bonus is taxable and all regular social security contributions will be withheld. In the event that you voluntarily leave the Company within twelve (12) months of the Effective Date, you are responsible for refunding the Company the entire signing bonus. By signing this Agreement, you authorize the Company to withhold all or part of the $25,000 signing bonus amount from any final payment to which you may be entitled if a refund is required under this Section 3.b. Signing Bonus: The Company agrees to pay you a one-time signing bonus in cash of $100,000 (the Signing Bonus). payable on the first regular settlement date of the Company after the Start Date and subject to all applicable tax reporting and withholding tax requirements. Notwithstanding the foregoing, you acknowledge and agree that if you voluntarily terminate or terminate your employment relationship for cause (each, a termination event) before the second anniversary of your Start Date, you must refund any portion of the Signing Bonus within 30 days of such termination event without any reduction in the taxes withheld by the Company upon payment of the Signing bonus. as follows: (i) if there is a termination event before the first anniversary of your start date, you must refund the Company 50% of the signing bonus and (ii) if there is a termination event from the first anniversary of your start date, but before the second anniversary of your start date, you must reimburse the Company 33% of the signing premium.
By signing below, you authorize the Company to immediately set off and reduce all amounts to which you are otherwise entitled in relation to any amount to which the Company is entitled in respect of your obligation to repay the Signing Bonus under this paragraph. 2. Signing bonus. The Company has already provided you with a signing bonus (the signing bonus). In the event of qualified termination (as defined below), the signing bonus is not subject to any redemption requirements. In the event that the Company terminates your employment relationship for cause (defined below) or for your voluntary resignation without just cause (defined below) before the third (3rd) anniversary of the date on which you began your employment with the Company (the Start Date), you must immediately reimburse fifty percent (50%) of the total signing bonus to the Company; After the third (3rd) anniversary of your start date, no portion of the signing bonus will be returned to the Company, regardless of the circumstances of the termination of the employment relationship. The Company has the right, in its sole discretion, to automatically offset any compensation due to you by the redemption amount of the Signing Bonus to the fullest extent permitted by applicable law in order to recover it. A signing bonus contract is a legal contract signed between an employer and an employee (or a company and a candidate) under which an employer is required by law to pay an employee a registration bonus. The contract is usually signed after or at the same time as an employment contract between the same parties. The objective of the agreement is to guarantee the employee`s right to the bonus promised by his employer. The parties may agree to include other sections in the Agreement, such as.
B severability, applicable law and location, agent information and other clauses. 3. Signing bonus. The Company will pay you a signing bonus of $40,000 (the “Signing Bonus”) within 30 days of your start date. If (i) you withdraw from your employment with the Company and such termination does not constitute termination for cause, or (ii) you are terminated by the Company for cause, in both cases you agree to refund 100% of the signing bonus within 30 days of termination of your employment before the end of uninterrupted employment 12 months after your date at the beginning. 7.6. At the discretion of the Compensation Committee and the Board of Directors (and with respect to the CEO – including the Company`s General Meeting), Gamida may grant a signing bonus to a newly appointed Officer. Such a bonus can be granted in cash, equity or a combination of both. The signing bonus must not exceed: (1) 50% of the annual base salary of that senior officer if the signing bonus is granted in cash; (2) 100% of the officer`s annual basic salary if the signing bonus is granted from equity; 3. Where the signing premium is a combination of cash and equity, its limit shall be proportional to the cash and equity items calculated on the basis of the ratios set out in Sections (1) and (2). We are pleased to offer you a signing bonus of $50,000. This bonus will be paid as a lump sum as part of a separate review on the next regular payment date after you start working with REGENXBIO Inc.
(“REGENXBIO”). The signing bonus is taxable and all regular social security contributions are retained. In the event that you terminate your employment with REGENXBIO or are terminated by the Company for a reason determined by REGENXBIO, you will be responsible for reimbursing the full signing bonus to the Company within 12 months of your hiring date. By signing this Agreement, you agree to return this amount to the Company upon request. You further authorize the Company to deduct from any salary owed to you by the Company (including, but not limited to, a final paycheque or severance pay) any amount you owe to the Company hereunder. In the unlikely event that you voluntarily terminate your employment relationship or if the Company terminates your employment relationship for cause within 1 year of your date of employment, you agree and are responsible for reimbursing the Company for the entire signing bonus. In such a case, the balance due will be deducted from all payments due to you at the time of termination, including salary, severance pay, bonuses and holidays. By signing this offer of employment, you expressly accept and authorize the Company to withhold all payments made prior to termination if such termination is made 1 year after your date of employment. The signing bonus is not taken into account for the purpose of determining benefits under the compensation and performance plans. A registration bonus is a kind of financial compensation for the employee at the beginning of his employment. Typically, employers tend to offer it when they want to hire someone who is already employed, or when they want to hire a highly qualified specialist and need to make sure they accept their offer. 5.
SIGNING BONUS. As part of your participation in this Letter of Offer, you will receive a signing bonus of $40,000 (the “Signing Bonus”) within twenty days of the effective date. You and the Company acknowledge and agree that the Signing Bonus will not be earned in full unless you are continuously and actively employed by the Company until the third anniversary of the Effective Date. If your employment relationship is terminated by the Company for cause at any time before or on the occasion of the first anniversary of the Effective Date or by you for any reason before or on the first anniversary of the Effective Date, you are not entitled to withhold any portion of the Signing Bonus and you are required to immediately refund the Premium to the Signature to the Company. in full on the day of termination. In the event that your employment relationship is terminated by the Company for cause or by you (a) after the first anniversary of the Effective Date but before or the second anniversary of the Effective Date, the Company allows you to withhold 33% of the Unearned Bonus and you hereby agree to reimburse the Company, on the date of termination 67% of the Bonus; or (b) after the second anniversary of the Effective Date, but prior to the third anniversary of the Effective Date, the Company allows you to withhold 67% of the Unearned Bonus and you hereby agree to refund 33% of the Signature Bonus to the Company on the date of termination. For the purposes of this Section 5, reason means: (1) your conviction or plea to nolo contender for an offense involving moral depravity or a crime, (2) your commission of theft, misappropriation or misappropriation of company assets, (3) your material breach of any agreement with the Company, (4) your failure to comply with the reasonable and lawful written instructions of a supervisor, provided that you receive five days` notice prior to termination and that you have the opportunity to remedy such breach, if it is reparable, (5) your wilful breach of the essential duties of your position, or (6) your unlawful discrimination, harassment or retaliation commission. It doesn`t change the type of your job.
Table of Contents Annual bonus target of 30% of Dr. Chakrabortys` annual base salary, based on the achievement of the objectives set by our Board of Directors. Dr. Chakraborty`s annual base salary was increased to $325,000 in connection with his appointment as Scientific Director in November 2020. In addition, according to the letter of offer, Dr. Chakraborty received a one-time signing bonus of $30,000 with an additional payment to cover all taxes resulting from the payment of the signing premium. The letter of offer also provides for the grant of an initial call option of 628,952 common shares granted on September 25, 2019 at an exercise price of $0.10 per share and the grant of an option to purchase 331,982 common shares following the significant closing of our Series A-2 preferred share financing. granted on March 10, 2020 at an exercise price of $0.16 per share. .