CIC Bonus definition

CIC Bonus means (i) with respect to any Participant with an Employment Level below Vice President, the Target Bonus Amount, prorated based on the number of full calendar months of the fiscal year prior to and including the calendar month in which the Termination Date occurs or (ii) with respect to a Participant with an Employment Level of Vice President or higher, the Average Adjusted Bonus.
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CIC Bonus means (i) with respect to any Participant with an Employment Level below Vice President, the Prorated Current-Year Bonus or (ii) with respect to a Participant with an Employment Level of Vice President or higher, the Average Adjusted Bonus.
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Examples of CIC Bonus in a sentence

  • The receipt of the Severance, CIC Severance, COBRA Premiums, CIC COBRA Premiums, Special Cash Payments, CIC Special Cash Payments, CIC Bonus Payment, and Vesting Acceleration (collectively, the “Severance Benefits”) will be subject to Executive signing and not revoking a separation agreement and release of claims in a form satisfactory to the Company (the “Separation Agreement”) within a time period specified by the Company, in its sole discretion.

  • The CIC Bonus Severance will be paid as a one-time, lump-sum payment contemporaneously with the CIC Salary Severance, but in no event later than the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.5) has become effective.

  • In the event you voluntarily terminate your employment or are terminated for Cause prior to March 1, 2010, you shall not be entitled to receive the CIC Bonus.

  • In connection with the Retention Amount, Health Assistance Payment and CIC Bonus (to the extent payable) described in the Letter Agreement, I understand that the Company shall withhold and remit to the tax authorities the amounts required under applicable law, and that I shall be responsible for all applicable taxes with respect to such payments and benefits under applicable law.

  • For the avoidance of doubt, under no circumstance shall Executive be entitled to receive the Transition Bonus and a bonus under the CIC Bonus Plan, subject to the terms and conditions thereof.

  • In the event you are terminated without Cause or you terminate for Good Reason prior to March 1, 2010, the CIC Bonus shall be paid to you on March 1, 2010.

  • Notwithstanding any other provision of this Section 5(d), if Executive’s employment terminates due to a Termination by the Company without Cause or a Termination by Executive for Good Reason upon or within six (6) months following a Change in Control, then the amount due Executive under Sections 5(d)(i) and (ii) above shall be reduced by the amount of the CIC Bonus actually paid to Executive under Section 3(b) of this Agreement.

  • In order to receive each portion of your CIC Bonus, a Release must be signed and returned to the Company on or before the Closing Date (or, with respect to your second payment, on or before the relevant payment date) and your signature must not be revoked.

  • Notwithstanding the foregoing, the Company may elect to make the Monthly CIC Installment Bonus Payments in lieu of the Lump Sum CIC Bonus Payment only if an exemption is available from application of Section 409A of the Code with respect to such payments so that such payment schedule will not result in adverse tax consequences to Executive under Section 409A of the Code.

  • If (I) your employment with the Company terminates for any reason prior to the Closing Date or (II) a Change in Control does not occur prior to the Bonus Program Termination Date, you will not be entitled to receive a CIC Bonus, this letter agreement shall immediately terminate and the Company shall have no liability to you hereunder.