On-Target Bonus definition

On-Target Bonus means a Participant’s target annual bonus (under the Company’s annual bonus plan or program) for the fiscal year during which a Qualifying Termination occurs, calculated at 100% of target levels as specified in such Company bonus plan or program as in effect immediately prior to the date of the Qualifying Termination, but ignoring any decrease that forms the basis for a Resignation for Good Reason.
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On-Target Bonus means a Participant’s target annual bonus (under the Company’s annual bonus plan or program) for the fiscal year during which a Qualifying Termination occurs, calculated at 100% of target levels as specified in such Company bonus plan or program as in effect immediately prior to the date of the Change in Control Termination.
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Examples of On-Target Bonus in a sentence

  • Company will provide Employee with the opportunity to earn an On-Target Bonus under terms identified by Company and based on achievement of goals identified by the Chief Executive Officer.

  • Any On-Target Bonus will be prorated for the actual period of employment and subject to Employee’s satisfaction of all eligibility criteria, as determined by the CEO.

  • Any On-Target Bonus will not be deemed earned until paid, and Employee must be employed with the Company at the time of payment and award to be eligible to receive such payment and award.

  • For clarity, if Executive’s on-target bonus rate was fifty percent (50%) of Executive’s Base Salary (the “Hypothetical On-Target Bonus”) and Executive’s termination of service by the Company without Cause occurred on March 31 of a particular year, then the Bonus Severance would be calculated as 50% of Base Salary (i.e., the Hypothetical On-Target Bonus) prorated for three months out of twelve months, or 25% of the Hypothetical On-Target Bonus.

  • For calendar year 2022 and going forward, Employee is eligible to earn an On-Target Bonus of 60% based on Revenue and EBITDA targets set by the Board of Directors (“Board”) and the achievement of goals identified by the CEO, and any bonus may be in the form determined by Company (including an option to purchase Company stock).

  • For 2024 and going forward, Employee is eligible to earn an On-Target Bonus of 60% based on Revenue targets set by the Board of Directors (“Board”) and the forecast in effect as of July 22, 2024, and the achievement of goals identified by the CEO, and any bonus may be in the form determined by Company (including an option to purchase Company stock).

  • Any On-Target Bonus will not be deemed earned until paid, and Employee must be employed with Company at the time of payment and award to be eligible to receive such payment and award.

  • For the remainder of Fiscal Year 2004, the criteria of performance for the award of an On-Target Bonus to Executive will be the market consensus estimates of the Company’s quarterly (and annual) revenue.

  • Any On-Target Bonus awarded under this clause 8.1 shall be paid, subject to deduction of income tax and employee’s national insurance contributions, no later than two and one-half months into the financial year of the Company next following the financial year of the Company in respect of which the On-Target Bonus is earned.