Average Bonus definition

Average Bonus means the average of the bonuses paid to Employee over the last two years (or such lesser number of years in which Employee was eligible to receive a bonus) in which the Employee was eligible to receive a bonus.

Average Bonus means (a) the total of the Annual Bonuses paid hereunder with respect to the Employment Term, divided by (b) the length of such portion of the Employment Term in years (including fractions) as falls on or prior to the last December 31 thereof.

Average Bonus means the average of the aggregate annual amounts paid to the Executive (or accrued) as bonuses or other cash incentive compensation for each of the three calendar years immediately preceding the termination of employment.

Examples of Average Bonus in a sentence

• In the event of a breach by Executive of Section 9 of this Agreement during the applicable period following his Date of Termination, Executive agrees (i) that the Company shall have no further obligation to make any payments to Executive under Section 10 of the Agreement and (ii) that any payments of Base Salary or Average Bonus Compensation previously made to Executive after his Date of Termination shall be returned to the Company.

• The Average Bonus together with the Salary Continuation Payments shall be referred to collectively as the “Severance Payments”.

• In addition to the remedies the Company may have at law or in equity, violation of Sections 7 or 8 herein will entitle the Company at its sole option not to pay the Average Bonus or the CIC Severance Payments, to discontinue the Salary Continuation Payments to the Executive, and to seek repayment from the Executive of any Severance Payments or CIC Severance Payments already paid to him by the Company.

• The higher of the Recent Average Bonus or the most recent Annual Bonus awarded by the Company and its affiliated companies after the Effective Date is herein called the "Highest Annual Bonus".

• For purposes of this Agreement, the "Average Bonus" shall mean, with respect to any fiscal year of the Company, the greater of (A) the Bonus accrued by the Employer as payable to the Executive with respect to the fiscal year immediately preceding the Termination Date or (B) 25% of the Salary payable in such fiscal year.

More Definitions of Average Bonus

Average Bonus means the average of Executive’s annual bonuses paid prior to the Effective Date and/or hereunder for the two fiscal years during which Executive has been employed by Company immediately preceding the fiscal year in which the Date of Termination occurs, and (b) the portion of the then applicable Base Salary to be used to determine the payments due to Executive upon the termination of his employment hereunder shall be that percentage of the stated Base Salary paid by Company pursuant to the proviso in the second sentence of Section 5(a) hereof for the twelve full months preceding the date of the notice of termination;

Average Bonus means, with respect to any fiscal year of the Company, the greater of (A) the Bonus accrued by the Employer as payable to the Executive with respect to the fiscal year immediately preceding the Termination Date or (B) 25% of the Salary payable in such fiscal year.

Average Bonus the average of the Annual Bonus paid to Executive for each of the three fiscal years preceding the fiscal year in which Executive’s Termination Date occurs (or the average of such lesser number of full fiscal year periods that Executive is employed if less than three full fiscal years prior to the Termination Date); provided, however, that if Executive’s employment terminates before December 31, 2021, then the Average Bonus shall equal the Target Bonus.

Average Bonus means an amount that is (i) the sum of the annual bonus awards (expressed as a percentage of the applicable year’s Base Salary) that you earned in each of the three (3) completed calendar years preceding the date your employment with the Company terminates, divided by (ii) three (3), multiplied by (iii) your Base Salary at the time your employment with the Company terminates [for example: (15%+5%+10%)/3 = 10% of Base Salary]. If you have been employed for more than one (1) but fewer than three (3) completed calendar years of service, then your “Average Bonus” will be the average of the annual bonus awards (as expressed as a percentage of the applicable year’s Base Salary) that you have received for the completed calendar year(s) preceding the date of your employment with the Company terminates

Average Bonus means the greater of (a) the Executive's average annual bonus for the two fiscal years (or such shorter period (which shall be annualized) during which the Executive has been employed by the Company) immediately preceding the fiscal year in which a Change in Control occurs and (b) the Executive's average bonus for the two fiscal years (or such shorter period (which shall be annualized) during which the Executive has been employed by the Company) immediately preceding the fiscal year which includes the Executive's Date of Termination.

Average Bonus means the greater of (i) Executive's target bonus for the calendar year immediately prior to the calendar year in which the earlier of the Termination Date or the Change in Control occurs or (ii) the highest bonus paid or payable to Executive in respect of any of the five (5) calendar years (annualized with respect to any such calendar year for which Executive has been employed for only a portion thereof) immediately prior to the calendar year in which the earlier of the Termination Date or the Change in Control occurs.

Average Bonus means the average Annual Bonus received by Executive during the two (2) full Employment Years preceding the date of termination.