1x Bonus Pool definition

1x Bonus Pool means the aggregate amount of variable compensation that would accrue under the Plan if the Company earned 100% of the financial target approved by the Committee for the applicable performance year; provided that the foregoing amount shall be adjusted for the actual number of employees who are actually employed by the Company both as of December 31 of the performance year in question and the date that variable compensation under the Plan is actually paid for the performance year in question, their length of service during the performance year in question, and the actual time worked or base pay earned during the performance year in question.
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Examples of 1x Bonus Pool in a sentence

  • Covance Corporate employees shall be awarded a variable compensation amount under the Plan equal to the product of (1) a fraction, (x) the numerator of which is the Bonus Pool and (y) the denominator of which is the 1x Bonus Pool (as hereinafter defined), (2) such Covance Corporate employee's Employee Bonus Target Amount and (3) such employee's bonus payout percentage, determined in accordance with such employee's performance rating.

Related to 1x Bonus Pool

  • Bonus Pool means the pool of funds available for distribution to Participants. Subject to the terms of the Plan, the Committee establishes the Bonus Pool for each Performance Period.

  • 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).

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • 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.

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.