Exit Bonus Pool definition

Exit Bonus Pool has the meaning set forth in Section 2(a).
View Source
Exit Bonus Pool means a portion of the Exit Proceeds established by the Board by written resolution and communicated to eligible Participants, and available for allocation among Participants who have been granted Exit Awards.
View Source

Examples of Exit Bonus Pool in a sentence

  • Each Eligible Employee employed by the Employer on the date of the Change of Control Transaction or Initial Public Offering shall be entitled to receive an Exit Bonus, equal to a percentage of the Exit Bonus Pool or specified dollar amount.

  • Eligible Employees shall be eligible to receive a percentage of the Exit Bonus Pool or specified dollar amount in the event of a Change of Control Transaction or Initial Public Offering in such amount as determined in accordance with Section 2(c) below (the “Exit Bonus”), subject in all respects to the terms of the Plan.

  • In no event shall an Exit Bonus Pool be established with respect to any transaction that does not constitute a Change of Control Transaction or Initial Public Offering.

  • In accordance with the terms of the Plan and this Exit Award Agreement, the Company hereby grants to the Participant an Exit Award equal to [INSERT PERCENTAGE] ( %) of the Exit Bonus Pool.

Related to Exit Bonus Pool

  • Bonus Pool means the pool of funds available for distribution to Participants. Subject to the terms of the Plan, the Committee establishes the Bonus Pool for each Performance Period.

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • Target Bonus means Executive’s annual (or annualized, as applicable) target bonus in effect immediately prior to Executive’s Qualifying Termination or, if Executive’s Qualifying Termination occurs during the Change in Control Period and the amount is greater, Executive’s annual (or annualized, if applicable) target bonus in effect immediately prior to the Change in Control.

  • Bonus Amount means the greater of (i) the average annual incentive bonus earned by Executive from the Company (or its affiliates) during the last three (3) completed fiscal years of the Company immediately preceding Executive’s Date of Termination (annualized in the event Executive was not employed by the Company (or its affiliates) for the whole of any such fiscal year), and (ii) the Executive’s target annual incentive bonus for the year in which the Date of Termination occurs.