INTERIM BONUS CALCULATION definition

INTERIM BONUS CALCULATION means, with respect to a Participant's or the Special Participant's unpaid Retention Bonus (as adjusted, if applicable, pursuant to Section 8(g)) as of any Interim Bonus Payment Date, the hypothetical interest which would accrue on the principal amount of such unpaid Retention Bonus (as adjusted, if applicable, pursuant to Section 8(g)) at the rate of ten percent (10%) per annum computed on the basis of a 365- or 366-day year, as appropriate, for the actual number of days elapsed during the period, commencing on the most recent prior Interim Bonus Payment Date or, with respect to the first Interim Bonus Payment Date, commencing on the Effective Date and ending on such Interim Bonus Payment Date. For purposes of making the Interim Bonus Calculation, in the event that a Participant forfeits all or part of such Participant's Retention Bonus, such amount shall be deemed to have been forfeited (and the Special Participant's Retention Bonus shall be deemed to be increased) as of the immediately preceding Interim Bonus Payment Date or, with respect to the first period for which Interim Bonus Calculation is calculated, as of the Effective Date.
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Related to INTERIM BONUS CALCULATION

  • 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).

  • 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.

  • 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 any distributions per Unit of that Class during the Performance Bonus Term exceeds $28.00.

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

  • Payout Amount means the vested portion of the Final Amount expressed as an amount of cash equal to the Fair Market Value of the shares of Stock underlying the RSUs and related Dividend Equivalents.