Bonus Benefit definition

Bonus Benefit means, with respect to an Exit Event and with respect to a particular Participant, the product of “A” multiplied by “B”, with such product divided by “C”, denoted mathematically as follows: Bonus Benefit = [(A*B)/C] where “A”, “B”, and “C” are defined as follows: A = the Bonus Pool with respect to such Exit Event B = the Units of the Participant with respect to such Exit Event C = the aggregate Units of all Benefiting Participants as of such Exit Event However, the above notwithstanding, the Bonus Benefit of any Participant with respect to an Exit Event occurring after the fifth anniversary of the Effective Date shall be zero.
Sample 1

Examples of Bonus Benefit in a sentence

  • For example, if your Accidental Death Benefit is $50,000 and your accumulated Bonus Benefit is $1,000, and you decrease your Accidental Death Benefit by 50% to $25,000, your accumulated Bonus Benefit will decrease by 50% to $500.

  • Therefore, if Bonus, Promotion, Recognition, and Working Condition were increased by one measurable unit, then the model predicted that extra employee job satisfaction in the company happens thus, the outcome variable will increase by the beta coefficient value.It indicated that when nothing was considered for Salary, Bonus, Benefit, Promotion, Recognition, Responsibility and Working Condition (that is, when x1, x2, x3, x4, x5, and x6= 0), the model predicted the level of employee job satisfaction.

  • When the Deferral Bonus Benefit Base becomes the new Benefit Base, an Annual Ratchet does not occur on that Contract Date Anniversary.

  • The predictor variables were Salary, Bonus, Benefit, Promotion, Recognition, Responsibility and Working Condition.

  • With regard to planning for the city’s development, the city’s CLUP for the period 2016-2026 was updated in December 2015; the city is awaiting approval of the plan by the Housing and Land Use Regulatory Board (HLURB).

  • Hence, this value represented the Magnitude between all of the independent (Salary, Bonus, Benefit, Promotion, Recognition, Responsibility and Working Condition) and the dependent variable (employee job satisfaction) and the value indicated the existence of strong and positive relation between the variables except for bonus and responsibility.The R square of 0.

  • BONUS BENEFIT RATE INCREASES YOUR PENSIONEffective January 1, 1990, a Participant is entitled to the Bonus Benefit Rate (i.e. the higher Benefit Rate) the year following accrual of 25 Years of Benefit Credits and 25 Years of Vesting Credits.Effective August 1, 1996, a Participant is entitled to the Bonus Benefit Rate the year following accrual of 25 Years of Benefit Credits and either: (a) 25 Years of Vesting Credits; or (b) 25 Years of Participation in the Plan.

  • If the Deferral Bonus Benefit Base is greater than the Annuity Account Value, the Deferral Bonus Benefit Base amount will become the new Benefit Base.

  • Pro-Rata Reciprocal Vesting Credits do not count toward your Years of Participation.Once a Participant reaches the 26th Year of Participation as noted above, the Participant is entitled to the Bonus Benefit Rate.Effective with dates of retirement on or after January 1, 2006, there is an exception to the requirement that 300 hours be reported in Covered Employment for the July 1976 through June 1977; July 1977 through June 1978; and July 1978 through June 1979 Plan Years.

  • For example, if you purchase$50,000 in coverage (i.e. your Accidental Death Benefit is $50,000), a Bonus Benefit of $500 (1% of $50,000) will be added to your coverage on the first anniversary of the Effective Date.

Related to Bonus Benefit

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Termination Benefit means the benefit set forth in Article 7.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Annual Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • Early Retirement Benefit means the retirement benefit payable to a member following early

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

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • Disability Benefit means the benefit set forth in Article 8.

  • Service benefit means the credit toward retirement benefits as determined by the

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.