Minimum Annual Bonus definition

Minimum Annual Bonus has the meaning set forth in Section 5.5(d).
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Minimum Annual Bonus means an amount equal to fifty percent (50%) of the Executive’s then current Target Annual Bonus.
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Minimum Annual Bonus solely for the period commencing on October 1, 2020 and continuing until September 30, 2021 shall be $200,000.
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Examples of Minimum Annual Bonus in a sentence

  • For each Bonus Period that begins on or after November 1, 2000 during the Term of Employment, the Executive shall be paid an annual formula bonus (the "Formula Bonus") during the Term of Employment equal to the greater of (i) the Minimum Annual Bonus, or (ii) the bonus determined pursuant to a formula (the "Formula") established by the Board at the beginning of each Bonus Period that commences during the Term of Employment.

  • The amount of any such Annual Cash Bonuses (subject to the requirement to pay the Minimum Annual Bonus) and the annual target performance goals under any cash incentive plan that may be adopted during the Employment Term shall be determined by the Compensation Committee, in its sole discretion, and, subject to the Minimum Annual Bonus requirement, may be based on the Company’s fiscal year.

  • For purposes of complying with Section 409A, the parties hereto intend that the portion of the Annual Bonus that exceed the Minimum Annual Bonus shall constitute performance-based compensation (as described in Treas.

  • All such payments shall be made in accordance with Employer’s normal payroll practices except that (x) each Minimum Annual Bonus shall be payable as provided in §5(a)(ii) and (y) each installment of the One-Time Bonus shall be payable as provided in §5(a)(iii).

  • For purposes of clarity, each of the parties hereto acknowledges and agrees that the 2007 Minimum Annual Bonus, the 2008 Minimum Annual Bonus and the 2009 Minimum Annual Bonus are the minimum guaranteed Annual Bonus for such periods and that the Compensation Committee of the Board may, in its discretion, pay a higher amount as an Annual Bonus.

  • The HOA Management Services Fee, the Corporate Management Services Fee and the Minimum Annual Bonus shall be subject to increase, at the discretion of the Company, in connection with the adoption of the Company’s annual operating budget, and Schedule A shall be amended accordingly.

  • All such payments shall be made in accordance with Employer’s normal payroll practices except that (x) Minimum Annual Bonus shall be payable as provided in §5(a)(ii).

  • The Minimum Annual Bonus shall be $150,000 and, subject to the Board's approval, may be payable on each July 31, October 31, January 31, and April 30.

  • The Minimum Annual Bonus shall be payable in equal monthly installments during the applicable Employment Year.

  • You will be entitled to a lump sum payment of severance in an amount equal to $1,800,000, which is equivalent to two years times the sum of (1) your annual Base Salary and (2) Minimum Annual Bonus (“Severance Pay”).

Related to Minimum Annual Bonus

  • Target Annual Bonus as of any date means the amount equal to the product of Base Salary determined as of such date multiplied by the percentage of such Base Salary to which Executive would have been entitled immediately prior to such date under any Bonus Plan for the Annual Performance Period for which the Annual Bonus is awarded if the performance goals established pursuant to such Bonus Plan were achieved at the 100% level as of the end of the Annual Performance Period.

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

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

  • Pro Rata Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.

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

  • 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).

  • 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 all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • Average Annual Compensation For the purposes of this Agreement, “Average Annual Compensation” shall be an amount equal to the annual average of the sums of (x) the Executive’s annual Base Salary from the Company plus (y) the amount of Incentive Awards accrued by TNS for the Executive, in each case for the three calendar years that ended immediately before (or, if applicable, coincident with) the Change in Control Date;

  • Base Annual Salary means the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee.

  • Bonus means the bonus described in the Section 2.3.

  • Current Annual Compensation means the greater of:

  • 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.

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

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

  • Bonus Period means the period for which a Bonus is payable. Unless otherwise specified by the Board, the Bonus Period shall be the fiscal year of the Company.

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarial equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or Qualified Joint and Survivor Annuity) to which the Participant would be entitled under the terms of the Plan assuming:

  • Bonus Target means the annual bonus that the Executive would have received in a fiscal year under the AIP Plan and/or the EIC Plan, if the target goals had been achieved.

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Bonus Payments means that portion of the bonus payments received by the

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • Annual Award means the cash payment paid or payable to the Executive with respect to a fiscal year under the Corporation's Incentive Compensation Performance Plan.

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • Density bonus means a floor area ratio bonus over the otherwise maximum allowable density permitted under the applicable zoning ordinance and land use elements of the general plan of a city, including a charter city, city and county, or county of: