Bonus Level definition
Examples of Bonus Level in a sentence
For this purpose, full salary shall be the basic salary in effect at the date such notice is given to the Executive, and bonus shall be calculated on the basis of the Executive achieving 100 per cent of the target bonus at Bonus Level 1.
The actual percentage of the Employee’s Base Salary that the Board, in its sole discretion, may award the Employee under any Employee Bonus Plan is referred to herein as the Employee’s “Bonus Level Percentage.” The Bonus Level Percentage that Employee may be eligible for under any Employee Bonus plan may be adjusted upward or downward from time to time in the sole discretion of the Board, or replaced by another or Employee Bonus Plan.
All Level I Bonus, Level II Bonus, and LTI awards are discretionary and subject to the approval of the Compensation Committee and the Independent Board Members.
DURING THE PROTECTION PERIOD Same as “Discharge for Cause During the Protection Period” EXCEPT that, in addition, Executive shall receive: (1) cash severance equal to one times Executive’s annual base salary at the rate applicable as of the Date of Termination due to Executive’s death or disability; and (2) a pro rata amount of Executive’s annual bonus during the year of termination, based on the Target Bonus Level.
In the event that the performance of Enfinity falls between the Minimum Bonus Level and the Maximum Bonus Level, then the bonus that the Executive shall be entitled to receive under the Bonus Plan shall be adjusted accordingly.