REVERSIONARY BONUS Sample Clauses

REVERSIONARY BONUS. The Reversionary Bonus is determined annually and credited to the policy on the following Policy anniversary. Once the Reversionary Bonus is declared and added/vested, it forms part of the guaranteed Benefit of the policy.
Sample 1
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REVERSIONARY BONUS. 5.1 The Policy will be entitled to a reversionary bonus if declared by the Company. The Company usually declares a reversionary bonus each year. The Company does not guarantee that it will declare a reversionary bonus every year.
Sample 1

Related to REVERSIONARY BONUS

  • Longevity Bonus Effective 2005, twenty (20) years of continuous service, an employee will receive a longevity bonus of seven hundred dollars ($700.00) per year, payable in one lump sum by the second pay period following the employee's anniversary date.

  • 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.

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