Average Annual Bonus definition

Average Annual Bonus means the average of the annual bonuses from the Company earned by the Executive with respect to the three (3) fiscal years of the Company immediately preceding the Date of Termination (the “Bonus Fiscal Years”); provided, however, that, if the Executive was employed by the Company during all or any portion of one or two of the Bonus Fiscal Years (but not three of the Bonus Fiscal Years), “Average Annual Bonus” means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.
Average Annual Bonus means zero.
Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during which the Executive was employed by the Company; and, provided,

Examples of Average Annual Bonus in a sentence

  • Payment, promptly after termination and in any event within 30 days after the Date of Termination, of a lump sum amount equal to the product of (A) two (2) and (B) 75% of his Average Annual Bonus (as defined below).

  • An amount equal to two (2) times the sum of the NEO’s (i) base salary and (ii) Average Annual Bonus (as defined in the CIC Plan).


More Definitions of Average Annual Bonus

Average Annual Bonus means the average bonus actually paid to the Executive with respect to the prior two (2) calendar years but specifically excluding the deferred shares granted to Executive concurrent with the closing of the U-Store-It IPO. For purposes of this Section 5.2, the “Effective Date of the Termination” shall mean the date on which a notice of termination is given or any later date (within thirty (30) days after the giving of such notice) set forth in such notice of termination, or in the case of termination of employment by the Executive for Good Reason, the date of termination specified in such Executive’s notice of termination.
Average Annual Bonus means the average annual bonus earned by the Executive pursuant to any annual bonus plan maintained by the Company in which the Executive participated in respect of any of the three (3) consecutive calendar years ending immediately prior to the calendar year in which occurs the last event that gives Executive the right to payments under this Section 10(a); provided, however, that if only one bonus is earned by the Executive in the applicable three-year period, such bonus shall be deemed to be the Average Annual Bonus.
Average Annual Bonus means the average amount of the annual bonus earned by, and paid to, the Executive under the Key Employees Incentive Plan (or any substitute or successor plan) for the last three full calendar years preceding the Operative Date, for purposes of Section 3(b)(i), and the Date of Termination (as defined below), for purposes of Section 5; provided that, if the Executive has not been employed for the entirety of the last three full calendar years, so that the Average Annual Bonus cannot be determined based on the actual amount of annual bonuses earned and paid for such full calendar years, then to the extent necessary to attain an average of three years for purposes of determining the Average Annual Bonus, the Executive’s target annual bonus amount for the year in which the Operative Date, for purposes of this Section 3(b)(i), and the Date of Termination, for purposes of Section 5, occurs shall be used for any (i) partial calendar year(s) of employment and (ii) calendar year(s) that has not yet commenced.
Average Annual Bonus means the Executive’s actual average annual bonus earned over the two complete fiscal years prior to the Effective Date of Termination, or, if shorter, over the Executive’s entire period of employment. However, if the Executive’s period of employment is less than one year, the average bonus will be considered zero.
Average Annual Bonus means the average of the annual cash performance bonuses, if any, paid to Executive by Company pursuant to Section 4.2 with respect to the two calendar years ending prior to the date of Executive’s Involuntary Termination; provided, however, that (i) if Executive has not been employed by Company for a sufficient period of time to have been eligible to receive bonuses with respect to both of such calendar years, then the term “Average Annual Bonus” shall mean the average of all such bonuses, if any, paid to Executive by Company pursuant to Section 4.2 with respect to all calendar years ending prior to the date of Executive’s Involuntary Termination, and (ii) if Executive was employed by Company for only a portion of a year with respect to which such a bonus was paid, then the “Average Annual Bonus” shall be determined by annualizing the bonus received by Executive for such portion of such year based on the ratio of the number of days Executive was employed by Company during such year to 365 days.
Average Annual Bonus means the average of the last three annual bonus amounts awarded to the Executive under the Company’s Management Incentive Compensation Plan, or any successor, alternate or supplemental plan (the “Bonus Plan”) or, if the Executive has not participated in the Bonus Plan for three completed annual award periods, the average of the annual bonus amounts awarded, provided that any award made in respect of an annual award period in which the Executive did not participate for the full period (the “Pro-Rata Award”) shall be annualized for purposes of computing the Average Bonus Amount by multiplying the Pro-Rata Award by a fraction, of which the numerator is 365 and the denominator is the number of days during which the Executive participated in such annual award period).
Average Annual Bonus means the average Annual Bonus (as such term is defined in Section 4.2) paid (or payable) for the three calendar years (or if Executive was employed for less than three full calendar years, such lesser number of full calendar years for which Executive was employed) preceding the Date of Termination.