Bonus Fund definition

Bonus Fund. - shall mean the targeted amount established each Fiscal Year by the Board of Directors to fund the payment of the Bonuses for such Fiscal Year hereunder.
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Bonus Fund means the bonus fund established pursuant to the Programme;
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Examples of Bonus Fund in a sentence

  • Should the services of any employee be terminated during the month, a statement as prescribed together with the amount due in respect of Holiday Bonus Fund monies for the period employed between October of the current year and September the following year shall be submitted to the Council.

  • However, if any claim for Holiday Bonus Fund monies is proved successfully by an applicant while the Council is still in existence, it shall remain obliged to pay that Holiday Bonus Fund monies.

  • Should the services of any employee be terminated during the month, a statement as prescribed together with the amount due in respect of Holiday Bonus Fund moneys for the period employed between October of the current year and September the following year shall be submitted to the Council.

  • All working employers shall observe the provisions of this Agreement in respect of hours of work, payment of Leave Pay Fund contributions and payment of Holiday Bonus Fund contributions at the prescribed foremen’s rate of pay, payment of Provident Fund contributions, additional Provident Fund contributions, payment of Council levies and payment of wages for public holidays.

  • However, if any claim for Holiday Bonus Fund moneys is proved successfully by an applicant while the Council is still in existence, it shall remain obliged to pay that Holiday Bonus Fund moneys.

  • An Exemption Fee, as referred to in clause 11 of Chapter 1, shall be charged to establishments to whom exemptions have been granted in respect of Leave Pay Fund and Holiday Bonus Fund contributions payable to the Council.

  • The Bonus payable to Employee, if any, shall be paid out of a Management Bonus Fund equal to 10% of the profits before taxes of Employer based upon the audited financial statements of Employer.

  • All payments from the Holiday Bonus Fund shall be by cheque drawn on the Fund’s account and such cheques shall be signed by three persons duly authorised by the Council.

  • In order to determine the amount of the Management Bonus Fund, a calculation will be made from the audited fiscal year and financial statements within 45 days of the availability of such audited statements.

  • The Compensation Committee shall make recommendations to the Board of Directors for the payment to Employee of such sums out of the Management Bonus Fund as the Board shall, in its sole discretion, determine or approve, and such sums will be payable to Employee, in cash, for each fiscal year during the term of this Agreement, including fiscal years 1997, 1998, 1999, 2000 and 2001; as well as any fiscal years falling within any extension of this Agreement.

Related to Bonus Fund

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

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • 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);

  • Bonus means the bonus described in the Section 2.3.

  • 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.