Employment Period Bonus definition

Employment Period Bonus means a bonus (either pursuant to a bonus or incentive plan or program of the Company or otherwise) in cash at least equal to the product of the average of the bonus payout ratio for the three years (or such shorter period as Executive has been employed by the Company) immediately preceding the Closing Date (expressed as a fraction) times the target bonus established by the Company for the year in question. For purposes of this definition, the parties acknowledge and agree that the bonus payout ratio is the percentage of Executive’s target bonus for the year(s) in question which was actually awarded to Executive in the year(s) in question.
Sample 1Sample 2
Employment Period Bonus means a bonus (either pursuant to a bonus or incentive plan or program of the Company or otherwise) in cash at least equal to the product of the average of the bonus payout ratio for the three years (or such shorter period as Executive has been employed by the Company) immediately preceding the Closing Date (expressed as a fraction) times the target bonus established by the Company for the year in question. For purposes of this definition, the parties acknowledge and agree that the bonus payout ratio is the percentage of Executive’s target bonus for the year(s) in question which was actually awarded to Executive in the year(s) in question. HHC: Executive:
Sample 1

Examples of Employment Period Bonus in a sentence

  • If, at any time after the Effective Date of a Change of Control and prior to the expiration of the Employment Period, Executive is involuntarily terminated, other than for Cause or as a result of Executive’s Disability, or if Executive resigns his or her position for Good Reason, Xxxxxxx shall pay to Executive a lump-sum severance amount equal to [.99] [1.99] times Executive’s Base Compensation and average Employment Period Bonus.

  • The Employee shall receive a cash bonus opportunity during the Employment Period ("Bonus") substantially equivalent to the opportunity set forth in Exhibit B attached hereto, as the same may be amended from time to time by the parties.

  • For purposes of this provision, the bonus payout ratios for the three years in question would be aggregated and divided by three, and the resulting average would be applied to the target bonus for the Executive in the year in which the Employment Period Bonus would be paid.

Related to Employment Period Bonus

  • Employment Period has the meaning set forth in Section 2.01.

  • Post-Employment Period shall have the meaning set forth in Article 8.

  • Employment Year means each twelve-month period, or part thereof, during which Employee is employed hereunder, commencing on the Commencement Date and on the same day of the subsequent calendar year and each consecutive 12 month period thereafter.

  • Year of Employment means a period of service of 12 months.

  • Period of Employment shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Good Reason” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

  • Annual Bonus shall have the meaning set forth in Section 4(b) below.

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

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

  • Leave Salary means the monthly amount paid by the University to an employee who is on leave.

  • Employment Term has the meaning specified in Section 2.

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Term of Employment means the period specified in Section 2 below.

  • Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

  • 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.

  • Date of Termination means the date of receipt of the Notice of Termination or any later date specified therein, as the case may be; provided, however, that (i) if the Executive's employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (ii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be.

  • Date of Employment means the first day an Employee performs an Hour of Service.

  • Employment benefits means all benefits provided or made

  • Target Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Bonus Period means the period for which a Bonus is payable. Unless otherwise specified by the Board, the Bonus Period shall be the fiscal year of the Company.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Bonus means the bonus described in the Section 2.3.

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

  • Annual Salary means the salary given under this Part.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.