Highest Bonus Amount definition

Highest Bonus Amount means the higher of (i) the highest dollar bonus earned by the Executive under any cash bonus or incentive compensation plan of the Company during either the three complete fiscal years of the Company immediately prior to the Executive's termination of employment or the three complete fiscal years of the Company immediately preceding the Change in Control of the Company, whichever is more favorable to the Executive, or (ii) the Executive's bonus or incentive compensation "target" for the fiscal year in which the termination of employment occurs.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Highest Bonus Amount means the highest dollar bonus which would result from three calculations, as follows: (i) the highest percentage of base salary ever used with respect to the calculation of the Executive's bonus during the three complete fiscal years of the Company immediately preceding the termination of employment or, if more favorable to the Executive, during the three complete fiscal years of the Company immediately preceding the Change in Control of the Company, multiplied times the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment; (ii) the highest dollar bonus earned by the Executive under any cash bonus or incentive compensation plan of the Company during either of the three complete fiscal year periods of the Company listed in (i) above, whichever is more favorable to the Executive; or (iii) the Executive's bonus or incentive compensation "target" for the fiscal year in which the termination of employment occurs.

Highest Bonus Amount means the highest dollar bonus which would result from three calculations, as follows:

Examples of Highest Bonus Amount in a sentence

For purposes of determining the amount of such welfare benefits, any part of which shall be based on compensation, the Executive's compensation during the relevant three-year period shall be deemed to be equal to the Executive's salary as in effect immediately before the termination of employment or, if higher, as in effect at any time during the 180-day period immediately preceding the termination date, and the Highest Bonus Amount.
The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount.
The Company shall pay to the Executive a lump sum equal to two times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount.
For purposes of determining the amount of such welfare benefits, any part of which shall be based on compensation, the Executive's compensation during the relevant two-year period shall be deemed to be equal to the Executive's salary as in effect immediately before the termination of employment or, if higher, as in effect at any time during the 180-day period immediately preceding the termination date, and the Highest Bonus Amount.
For purposes of determining the amount of such welfare benefits, any part of which shall be based on compensation, the Executive's compensation during the relevant two-year period shall be deemed to be equal to the Executive's salary as in effect immediately before the Termination of Employment or, if higher, as in effect at any time during the 180-day period immediately preceding the termination date, and the Highest Bonus Amount.
The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the Termination of Employment plus (b) the Highest Bonus Amount.
The Company will pay the Executive a cash severance benefit in an amount equal to the product of (A) the Executive’s Highest Bonus Amount and (B) a fraction, the numerator of which is the number of days in the Company’s fiscal year in which occurs the Executive’s Employment Termination Date through the Executive’s Employment Termination Date and the denominator of which is three hundred sixty-five (365).
The Company will pay the Executive a cash severance benefit in an amount equal to the product of (A) the Executive's Highest Bonus Amount and (B) a fraction, the numerator of which is the number of days in the Company's fiscal year in which occurs the Executive's Employment Termination Date through the Executive's Employment Termination Date and the denominator of which is three hundred sixty-five (365).
The Company shall pay to the Executive a lump sum equal to two times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the Termination of Employment plus (b) the Highest Bonus Amount.
The Company shall pay to the Executive a lump sum equal to two times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the 4 three-year period immediately prior to the Termination of Employment plus (b) the Highest Bonus Amount.

More Definitions of Highest Bonus Amount

Highest Bonus Amount means the average of the three highest Bonus Amounts received by the Executive with respect to the five fiscal years of the Company immediately preceding the Executive’s Employment Termination Date.

Highest Bonus Amount means an amount equal to the greater of $900,000 or the average of the annual bonuses paid to the Executive in his capacity as Executive Chairman, and (iii) in addition to the payments and benefits provided above in this section 13(c), all restricted stock awards of the Executive existing on the date of his termination of employment shall vest in full, to the extent not then vested, and be payable to the Executive on such date of termination; all stock options of the Executive existing on such date of termination shall vest in full on such date, to the extent not then vested, and shall be exercisable pursuant to their terms on and after such date; and all performance unit awards of the Executive existing on such date of termination shall be vested and earned in full on such date, without any proration, subject to the achievement of the performance metrics applicable for such awards, and payments under such performance unit awards shall be made at the times specified in the applicable performance unit agreements.