Monthly Bonus Amount definition

Monthly Bonus Amount means the quotient of (A) the "bonus percentage" (as hereinafter defined) times the Executive's annual base salary as in effect under Paragraph 3 on the Date of Termination, divided by (B) twelve (12). The term "bonus percentage" shall mean the percentage of the Executive's base salary that the Executive received as a bonus with respect to the fiscal year immediately preceding the fiscal year in which the Date of Termination occurs, but in no event less than 25%.
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Monthly Bonus Amount means one-twelfth (1/12) of the -------------------- Executive's target annual bonus for the fiscal year in which the Date of Termination occurs.
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Monthly Bonus Amount means an amount equal to the average of a Participant’s three most recent annual cash incentive bonuses paid by an Employer (or, with respect to a Participant who has not been an Employee sufficiently long enough to have received three such bonuses, the average of the applicable number of annual cash incentive bonuses paid to such Participant by an Employer), divided by twelve.
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Examples of Monthly Bonus Amount in a sentence

  • A Participant who has a Separation from Service that constitutes a Covered Termination shall be entitled to the following Severance Benefits:(a)Severance Pay – A Participant shall receive an amount equal to the product of (i) the Monthly Base Pay plus the Monthly Bonus Amount, and (ii) the applicable number of months in the Severance Benefit Period (the “Severance Pay”).

  • The Monthly Bonus Amount shall be payable on a monthly basis, within 10 days of Client's receipt of an invoice submitted in accordance with the terms of this Agreement.

  • For purposes of clarity, a Designated Continuing Employee’s Individual Monthly Bonus Amount shall be in addition to, and not in lieu of, any other consideration received by such person from his or her respective Employer.

  • Employee Personal Details Full Name: Xxxxxx LiakhovetskyI.D. Number: ####Address: ####Telephone Number (cell): ####E-mail: #### Position CTO Direct Manager CEO Monthly Salary Monthly Salary: 70,000 NIS (gross) Monthly Bonus Amount 35,000 Scope of Work Full time Notice Period (by the Companyor the Employee) 60 Days Pension Plan ☑ Entitled under Section 14 route.

  • Under the Program, the amount that each Designated Continuing Employee may obtain as a retention bonus (“Retention Bonus”) shall be, in the aggregate, the Individual Aggregate Bonus Amount, such amount to be paid in installments equal to the Individual Monthly Bonus Amount as set forth below.

  • This Program shall be deemed effective on the Merger Closing Date and shall terminate upon the payment of the final Individual Monthly Bonus Amount made in accordance with the terms herein.

  • As of January 2022, the Employee’s Monthly Bonus Amount shall be NIS 31,964 (gross) (i.e., the equivalent of 70% of the pro-rated Annual Bonus) on account of the Annual Bonus (section 2.a.i above).

  • The Participating Company shall pay the Participant, as severance, a cash amount equal to (i) the sum of the Participant’s Monthly Base Salary plus the Participant’s Monthly Bonus Amount, multiplied by (ii) the number of months set forth in the Participant’s Participation Agreement, subject to standard payroll deductions and withholdings, in a single lump sum on the 60th day following the date of the Change of Control Termination.

  • Such Designated Continuing Employee’s Employer shall make payment of such Individual Monthly Bonus Amount by adding such amounts to the payroll amounts to be paid by such Employer to such Designated Continuing Employee for the month in which such Individual Monthly Bonus Amount was earned.

  • The Monthly Bonus Amount shall be payable on a monthly basis, within 10 days of Company’s receipt of an invoice submitted in accordance with the terms of the Agreement.


More Definitions of Monthly Bonus Amount

Monthly Bonus Amount means the dollar amount of the Participant’s target annual bonus in effect immediately prior to the date of the Qualifying Termination, ignoring any reduction that forms the basis for Constructive Termination, divided by 12.
Sample 1
Monthly Bonus Amount means one-twelfth (1/12) of Executive's -------------------- target annual bonus for the fiscal year in which the Date of Termination occurs, or if such target bonus has not yet been set as of the Date of Termination, then one-twelfth (1/12) of the target annual bonus for the immediately preceding fiscal year shall be used ("target annual bonus" meaning 100% of the target annual bonus set for the Executive for the applicable fiscal year, without regard to any discount from or premium over that target bonus which could be applied based on achievement below or above targeted performance).
Sample 1

Related to Monthly Bonus Amount

  • 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.

  • 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).

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

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

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

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • 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.

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Average Bonus means the average of the bonuses paid to Employee over the last two years (or such lesser number of years in which Employee was eligible to receive a bonus) in which the Employee was eligible to receive a bonus.

  • 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.

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

  • Base Salary Amount means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement or arrangement.

  • Target Bonus means Executive’s annual (or annualized, as applicable) target bonus in effect immediately prior to Executive’s Qualifying Termination or, if Executive’s Qualifying Termination occurs during the Change in Control Period and the amount is greater, Executive’s annual (or annualized, if applicable) target bonus in effect immediately prior to the Change in Control.

  • 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.

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Monthly Salary Rate means the amount agreed to by the Owner that can be used on Applications for Payment throughout the Construction Phase to account for the services of Construction Manager’s salaried personnel assigned to the Project. A Monthly Salary Rate must be established for each salaried person and must be approved in writing by the Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Construction Manager’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by the Construction Manager for services performed for the Project.

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

  • 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.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year, if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);