Final Average Bonus means the average of the three most recent annual bonuses paid to Executive prior to the Date of Termination, whether such annual bonuses are paid in the form of cash or in grants of restricted common stock of the Company or restricted stock units under the USEC Inc. Annual Incentive Program (which, under the USEC Inc. Annual Incentive Program, generally vests one (1) year after the date of grant); provided, however, that (i) any annual bonus paid to Executive that was pro-rated or otherwise adjusted because Executive was not employed by the Company or any subsidiary during the entire period to which such bonus related shall be annualized for purposes of the calculation of the Executive’s Final Average Bonus; (ii) if Executive has experienced a change in position that has increased Executive’s annual bonus opportunity (whether or not such change in position is accompanied by a change in title), any annual bonus paid to Executive with respect to a period prior to such change in position shall not be included in the calculation of the Executive’s Final Average Bonus; (iii) if Executive shall not have been paid at least three annual bonuses prior to the Date of Termination that are includable in the calculation of Executive’s Final Average Bonus, then Executive’s Final Average Bonus shall be an amount equal to the average of such lesser number of annual bonuses (or, if just one annual bonus, an amount equal to such bonus); and (iv) if Executive shall not have been paid at least one annual bonus prior to the Date of Termination that is includable in the calculation of Executive’s Final Average Bonus, Executive’s Final Average Bonus shall be an amount equal to Executive’s annual target bonus as in effect on the Date of Termination or, if higher, the Executive’s annual target bonus in effect immediately prior to the reduction giving rise (pursuant to clause (iv) of the definition of Good Reason) to such termination. Final Average Bonus shall not include any amount of cash or equity paid or granted as part of any long term incentive plan or program that the Company in its sole discretion may elect to maintain from time to time;
Final Average Bonus means the average of the Bonuses awarded to the Executive pursuant to the Annual Incentive Program with respect to the three years preceding the Date of Termination and commencing no earlier than February 3, 1999 (or, if shorter, the number of years from February 3, 1999 to the Date of Termination);
Final Average Bonus. - means the Participant's average bonus paid under the Incentive Compensation Plan (including amounts that may have been deferred) during the highest thirty-six (36) months out of the final sixty-month (60) period. For these purposes, the "bonus paid" for a particular month within a particular fiscal year under such plan shall be equal to the amount of such bonus actually paid (regardless of the date paid, but excluding any adjustment for the deferral of such payment) to such Participant on account of such fiscal year divided by the number of months contained in such fiscal year which were used in determining the amount of such bonus actually paid to such Participant.
Examples of Final Average Bonus in a sentence
Section 2.11 shall be amended to add the following sentences to the end thereof which shall read as follows: Notwithstanding the foregoing, the Final Average Bonus of a Participant shall not include any amounts paid after September 30, 2016, provided, however, that payments made under the Fiscal Year 2016 Annual Incentive Compensation program, payable in December of 2016, shall be included in determining the Final Average Bonus of a Participant.
The determination of a Participant's Final Average Bonus shall be made as of September 30, 2016 and such amount shall not be modified thereafter.
Subject to the applicable provisions of paragraph (b) above, the vested benefit payable to a Participant on the Effective Retirement Date for the period such Participant was deemed classified as a Level III, IV or V Participant is equal to 25% of Final Average Bonus multiplied by years of Service not to exceed 20 years of Service.
However, "Final Average Pay," as the term is defined in the Retirement Plan, shall be replaced by "Final Average Bonus," which shall be computed by taking into account the sum of the three highest bonuses received from a Bonus Plan during the last ten years prior to the Participant's Retirement with the Affiliated Group divided by thirty-six months.
At June 30, 2012, the stock market value of the investment was 6% lower than the value of Nissan in Renault’s balance sheet (9% lower at December 31, 2011).
More Definitions of Final Average Bonus
Final Average Bonus means the Participant’s target annualized Part A award opportunity under the Quarterly Incentive Plan for the year of termination or, if higher, the average of the three most recent annual bonuses paid to the Participant prior to the date of termination, whether such annual bonuses are paid in the form of cash or in grants of restricted common stock of the Company or other awards under the Annual Incentive Program; provided, however, that (i) any annual bonus paid to the Participant that was pro-rated or otherwise adjusted because the Participant was not employed by the Company during the entire period to which such bonus related shall be annualized for purposes of the calculation of the Participant’s Final Average Bonus;(ii) if the Participant has experienced a change in position that has increased the Participant’s annual bonus opportunity (whether or not such change in position is accompanied by a change in title), any annual bonus paid to the Participant with respect to a period prior to such change in position shall not be included in the calculation of the Participant’s Final Average Bonus; (iii) if the Participant shall not have been paid at least three annual bonuses prior to the date of termination that are includable in the calculation of the Participant’s Final Average Bonus, then the Participant’s Final Average Bonus shall be an amount equal to the average of such lesser number of annual bonuses (or, if just one annual bonus, an amount equal to such bonus); and (iv) if the Participant shall not have been paid at least one annual bonus prior to the date of termination that is includable in the calculation of the Participant’s Final Average Bonus, the Participant’s Final Average Bonus shall be an amount equal to the Participant’s annual target bonus as in effect on the date of termination. Final Average Bonus shall not include any amount of cash or equity paid or granted as part of any long term incentive plan or program that the Company in its sole discretion may elect to maintain from time to time. Except as set forth above, Final Average Bonus shall also not include the amount of any quarterly incentive awards paid or granted under the Quarterly Incentive Plan or any other quarterly incentive plan or program that the Company in its sole discretion may elect to maintain from time to time, or the amount of any other award which is intended to represent a portion of an executive’s historical long-term incentive compensation opportunity.
Final Average Bonus means the Participant's average bonus paid under the Incentive Compensation Plan (including amounts that may have been deferred) during the highest thirty-six (36) months out of the final eighty-four-month (84) period. For Effective Retirement Dates after June 30, 2003, the calculation of the eighty-four month period shall be measured back from the Participant's Termination of Employment that is nearest to or which is coincident with the Participant's Effective Retirement Date. If the Participant becomes classified below a Level V Employee after June 30, 2003 and before the Termination of Employment identified in the preceding sentence, then the date of such change in classification is substituted for the said Termination Date. For these purposes, the "bonus paid" for a particular month within a particular fiscal year under such plan shall be equal to the amount of such bonus actually paid (regardless of the date paid, but excluding any adjustment for the deferral of such payment) to such Participant on account of such fiscal year divided by the number of months contained in such fiscal year which were used in determining the amount of such bonus actually paid to such Participant. The bonus paid that is used compute the average described in this Section 2.11 shall only be a bonus that is paid to the Participant when such Participant is considered a Level III, IV or V participant in the Incentive Compensation Plan.
Final Average Bonus. - means the Participant’s average bonus paid under the Incentive Compensation Plan (including amounts that may have been deferred) during the highest thirty-six (36) months out of the final eighty-four-month (84) period. The calculation of the eighty-four month period shall be measured back from the Participant’s Termination of Employment that is nearest to or which is coincident with the Participant’s Effective Retirement Date. If the Participant becomes classified below a Level V Employee before the Termination of Employment identified in the preceding sentence, then the date of such change in classification is substituted for the said Termination Date. For these purposes, the “bonus paid” for a particular month within a particular fiscal year under such plan shall be equal to the amount of such bonus actually paid
Final Average Bonus means the average of the annual bonuses awarded to the Executive pursuant to Sections 2(b) and 2(c) of this Agreement with respect to the three years preceding the date of termination and commencing no earlier than July 1, 1999 (or, if shorter, the number of years from July 1, 1999 to the date of termination; PROVIDED that if the Executive's employment is terminated prior to his eligibility to earn an Annual Bonus for the period July 1, 1999 to June 30, 2000, then for purposes of making the aforementioned computation he shall be deemed to have earned the maximum Annual Bonus to which he would have been entitled assuming the attainment by the Executive of the specified performance and other targets related to designated performance and other goals selected by the Compensation Committee under the Performance Compensation Plan), payable in a lump sum at the end of the calendar month in which the termination date occurs; PROVIDED, HOWEVER, that if the Executive's employment is terminated following a Change in Control or is terminated by the Company other than for Cause in anticipation of a Change in Control, such severance compensation shall be paid in one lump sum on the date of such termination.
Final Average Bonus means the average of the Bonuses awarded to the Executive pursuant to the Annual Incentive Program with respect to the three years preceding the Date of Termination (or, if shorter, the number of years from the Effective Date to the Date of Termination, and provided that, until such time as Executive has received a Bonus with respect to 2004, the Final Average Bonus shall be deemed to be 70% of the Executive’s Annual Base Salary as then in effect); provided, however, that if the Executive is found in breach of the requirements in Section 9(b) of this Agreement, she shall repay to the Company a pro-rata share of the lump sum to coincide with the period of time she was not in compliance with Section 9 (that is, the lump sum shall be multiplied by a fraction, the denominator of which is the number of days the Executive was required to comply with Section 9(b), and the numerator of which is the number of days the Executive was not in compliance, and the Executive shall repay that amount to the Company) (the “Repayment”); and
Final Average Bonus. - means the Participant's average bonus paid under the Incentive Compensation Plan (including amounts that may have been accrued, but deferred in payment under such plan) during the highest thirty-six (36) months out of the final sixty-month
Final Average Bonus means the average of the annual bonuses awarded to the Executive pursuant to Section 2(b) of this Agreement with respect to the three years preceding the date of termination and commencing no earlier than July 1, 2000 (or, if shorter, the number of years from July 1, 2000 to the date of termination; provided that if the Executive's employment is terminated prior to his eligibility to earn an Annual Bonus for the period July 1, 2000 to June 30, 2001, then for purposes of making the aforementioned computation he shall be deemed to have earned the maximum Annual Bonus to which he would have been entitled assuming the attainment by the Executive of the specified performance and other targets related to designated performance and other goals selected by the Compensation Committee under the Performance Compensation Plan), payable in a lump sum at the end of the calendar month in which the termination date occurs; provided, however, that if the Executive's employment is terminated following a Change in Control or is terminated by the Company other than for Cause in anticipation of a Change in Control, such severance compensation shall be paid in one lump sum on the date of such termination.