Maximum Potential Bonus definition
Maximum Potential Bonus means the amount determined by multiplying the amount of a Participant's base salary actually paid during the applicable Measurement Period by a percentage designated by the Committee in its sole discretion prior to the commencement of such Measurement Period, or within the first 90 days thereof, which percentage need not be the same for each Participant. Notwithstanding the foregoing, in the case of a Participant who is a Covered Employee, such Maximum Potential Bonus shall be determined based upon the Participant's base salary as of the day immediately preceding the commencement of the applicable Measurement Period. The Maximum Potential Bonus payable to a Participant for any Measurement Period shall be 150 percent of such Participant's annual base salary (as determined above) appropriately adjusted if necessary to reflect the length of such Measurement Period.
Examples of Maximum Potential Bonus in a sentence
The Participant will not have earned and is not entitled to any portion of the Maximum Potential Bonus Amount not yet due and payable as of the date of termination of the Participant’s status as an employee or as the Chief Technology Officer of the Company.
This Agreement represents the entire agreement between the parties with respect to the Maximum Potential Bonus Amount.
The maximum potential bonus payable to Participant under this Agreement equals the Maximum Potential Bonus Amount ($240,000), payable subject to the terms hereof.