Pro Rata Annual Bonus definition

Pro Rata Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

Pro Rata Annual Bonus means, in respect of an Employer’s fiscal year during which the Termination Date occurs, an amount equal to the product of Executive’s Target Annual Bonus (determined as of the Termination Date) multiplied by a fraction, the numerator of which equals the number of days from and including the first day of such fiscal year through and including the Termination Date, and the denominator of which equals 365.

Pro Rata Annual Bonus means (a) the product of the amount of the Target Annual Bonus to which Executive would have been entitled if he had been employed by the Company on the last day of the year that includes the Termination Date and if Executive had achieved Executive’s Target Performance Goals for such year, multiplied by (b) a fraction of which the numerator is the numbers of days which have elapsed in such year through the Termination Date and the denominator is 365.

Examples of Pro Rata Annual Bonus in a sentence

• Further, if the Date of Termination occurs during the period commencing from July 1 through December 31 of any Fiscal Year, Executive or his Beneficiaries, as the case may be, shall be paid a Prorata Annual Bonus as soon as reasonably possible but in no event later than thirty (30) calendar days after the Date of Termination.

• If Executive’s employment terminates due to his death or Disability prior to a Change of Control or more than thirteen months after a Change of Control, the Company shall pay to Executive or his beneficiaries, as the case may be, (i) immediately after the Date of Termination an amount which is equal to the sum of Executive’s Accrued Base Salary and Accrued Annual Bonus, and (ii) at the time described in Section 4.2(b), an amount which is equal to the Executive’s Prorata Annual Bonus.

• If Executive's employment terminates due to his death or Disability prior to a Change of Control or more than seven months after a Change of Control, the Company shall pay to Executive or his Beneficiaries, as the case may be, (i) immediately after the Date of Termination an amount which is equal to the sum of Executive's Accrued Base Salary and Accrued Annual Bonus, and (ii) at the time described in Section 4.2(b), an amount which is equal to the Executive's Prorata Annual Bonus.

• If, before the end of the Employment Period, Executive's employment terminates due to his death or Disability, Executive or his Beneficiaries, as the case may be, shall be entitled to receive immediately after the Date of Termination, a lump sum amount which is equal to the sum of Executive's Accrued Base Salary, Accrued Annual Bonus, and Prorata Annual Bonus.

• Subject to Section 7.6, if Executive’s employment terminates during the Employment Period due to his death or if the Company terminates Executive’s employment during the Employment Period due to Disability, the Company shall pay to Executive or his Beneficiaries, as the case may be, immediately after the Date of Termination an amount which is equal to the sum of Executive’s Accrued Base Salary, Accrued Annual Bonus and Prorata Annual Bonus.

More Definitions of Pro Rata Annual Bonus

Pro Rata Annual Bonus means an amount equal to (1) the annual incentive compensation bonus that Employee would have been entitled to receive for the calendar year that includes the Termination Date if Employee’s employment hereunder had continued (such amount to be determined with any subjective or personal performance goals rated at target), multiplied by (2) a fraction, the numerator of which is the number of days Employee was employed hereunder during such year and the denominator of which is the number of days in such year (provided, however, that if the Termination Date occurs during 2010, then the fraction described in this clause (2) shall be deemed to equal 1.0). Notwithstanding the foregoing, if this paragraph applies with respect to an annual bonus that is intended to constitute performance-based compensation within the meaning of, and for purposes of, Section 162(m) of the Code, then this paragraph shall apply with respect to such annual bonus only to the extent the applicable performance criteria have been satisfied as certified by a committee of the Board of Directors of UCH as required under Section 162(m) of the Code.

Pro Rata Annual Bonus generally means actual bonus amount, prorated based on the number of days employed by the employer during the year of termination, payable to the participant for a given calendar year pursuant to the employer’s cash performance bonus program as in effect from time to time.

Pro Rata Annual Bonus means an amount equal to the annual cash bonus that an Eligible Executive would have been entitled to receive for the fiscal year of the Company in which the Date of Termination occurs based on actual performance (as determined by the Committee following the end of such fiscal year in accordance with the LTIP or any successor plan thereto), multiplied by a fraction, the numerator of which is the number of days in such fiscal year during which such Eligible Executive was employed by the Company and its Affiliates, and the denominator of which is 365.

Pro Rata Annual Bonus means, in respect of the Company's fiscal year during which the Effective Date (in the case of a Pro-rata Annual Bonus payable pursuant to Section 2.5 hereof) or the Termination Date (in the case of a Pro-rata Annual Bonus payable pursuant to Article IV hereof), as applicable, occurs, an amount equal to the product of the greater of Executive's Historical Bonus or Executive's Target Annual Bonus (determined as of the Effective Date or Termination Date, as applicable) multiplied by a fraction, the numerator of which equals the number of days from and including the first day of such fiscal year through and including the Effective Date or the Termination Date, as applicable, and the denominator of which equals 365.

Pro Rata Annual Bonus means a pro rata bonus equal to the amount of the applicable Eligible Employee’s annual bonus for the year in which the Severance Date occurs, based on the Compensation Committee’s assessment of performance as of the Severance Date, multiplied by a fraction, the numerator of which is the number of calendar days in such year that the Eligible Employee was employed by the Company Group and the denominator of which is three hundred sixty-five (365).

Pro Rata Annual Bonus means an amount equal to an Eligible Executive’s Target Annual Bonus multiplied by a fraction, the numerator of which is the number of days in such fiscal year during which such Eligible Executive was employed by the Company and its Affiliates, and the denominator of which is 365; provided, however, the calculation of the Pro-Rata Annual Bonus shall not take into account any temporary reduction in such Eligible Executive’s annualized base salary in connection with a general reduction in base salaries that affects all similarly situated employees of the Company in substantially the same proportions, as determined by the Committee in its sole discretion.

Pro Rata Annual Bonus shall have the meaning set forth in Section 8(b)(iii) hereof.