Prior Bonus definition

Prior Bonus means the higher of: (i) the average of the annual bonuses paid to Executive in the three fiscal years prior to his separation from the Company; or (ii) the annual bonus applicable for the prior fiscal year.
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Prior Bonus means the Annual Bonus paid to Executive, if any, for the completed fiscal year immediately preceding the fiscal year in which a Change in Control occurs.
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Prior Bonus means the average bonus paid to the Executive under the Company’s Management Performance Incentive Program for the five most recent years.
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Examples of Prior Bonus in a sentence

  • Subject to Section 1.6, Invacare shall pay to the Executive, on the sixtieth (60th) day after the Termination Date, a lump sum severance benefit in an amount equal to two times: (i) the Executive’s Annual Base Salary plus (ii) the Executive’s Prior Bonus Amount.

  • If ICH terminates Executive's employment for any reason in connection with a Change in Control which is not approved by the Continuing Directors of ICH, Executive shall receive from ICH in one lump sum, payable on the consummation of the Change in Control an amount equal to the Severance Payment, the Prior Bonus Payment and the Expense Reimbursement.

  • If the Annual Bonus for the calendar year immediately preceding the Termination Date has not been determined, the Company shall pay the Executive the target Annual Bonus for the current calendar year, calculate the Prior Bonus Amount as soon as practicable, and pay the Executive the Prior Bonus Amount promptly following calculation.

  • If Executive provides ninety (90) days notice and resigns with Good Reason, as defined herein, and complies in all respects with his obligations hereunder, or if the Company terminates Executive without Cause, then Executive shall be paid, within 30 days of his separation from the Company, a lump sum equal to his then-current Minimum Base Salary plus the Prior Bonus (as defined below).

  • If Executive's employment is terminated due to death of Executive, Executive's estate or beneficiary(ies), as the case may be, shall be entitled to a lump payment in an amount equal to the Severance Payment, the Prior Bonus Payment and Expense Reimbursement.

  • If the Executive resigns with Good Reason that is a Disability and complies in all respects with his obligations hereunder, the Company will pay Executive, within 30 days of his separation from the Company, a lump sum equal to his then-current Minimum Base Salary plus the Prior Bonus.

  • If the Term of Employment is not extended or renewed on terms mutually acceptable to Executive and the Company, and if this Agreement has not been already terminated for reasons stated in Section 8 (a), (b), or (c) of this Agreement, Executive shall be paid, within 30 days of his separation from the Company, a lump sum equal to his then-current Minimum Base Salary plus the Prior Bonus.

  • If the Company terminates Executive's employment for any reason in connection with a Change in Control which is not approved by the Continuing Directors of the Company, Executive shall receive from the Company in one lump sum, payable on the consummation of the Change in Control an amount equal to the Severance Payment, the Prior Bonus Payment and the Expense Reimbursement.

  • As used herein, "Prior Bonus" means the higher of: (i) the average of the annual bonuses paid to Executive in the three fiscal years prior to his separation from the Company; or (ii) the annual bonus applicable for the prior fiscal year.

  • If the Company terminates Executive's employment for any reason in connection with a Change in Control (as defined in Section 2(c)), Executive shall receive from the Company in one lump sum, payable on the consummation of the Change in Control an amount equal to the Severance Payment, the Prior Bonus Payment and the Expense Reimbursement.


More Definitions of Prior Bonus

Prior Bonus means the average of the annual incentive bonus earned under the Incentive Plan (including any bonus earned and payable but not yet paid) for the last three full fiscal years (or such shorter period during which the Executive has been an employee of the Company); provided that, if the Executive is not employed by the Company on September 30, 2006, the Prior Bonus for the 2006 fiscal year only shall be the target incentive bonus for such year.
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Prior Bonus means the average of the annual incentive bonus earned under the Incentive Plan or any comparable bonus earned under any predecessor or successor plan (including any bonus earned and payable but not yet paid) for the last three full fiscal years.
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Prior Bonus means the average of the annual incentive bonus earned under the Company's Senior Management Incentive Plan or any comparable bonus earned under any successor plan (including any bonus earned and payable but not yet paid) for the last three full fiscal years (or such shorter period during which the Executive has been an employee of the Company); provided that, (1) if the Executive is not employed by the Company on December 31, 2001, the Prior Bonus for the 2001 fiscal year only shall be the sum of the target incentive bonus for such year and the special bonus for such year and (2) if the Executive has been continuously employed by the Company through December 31, 2001, for purposes of calculating Prior Bonus, the Prior Bonus for the 2001 fiscal year shall be the sum of the incentive bonus for such year and the special bonus for such year.
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Prior Bonus has the meaning given to such term in Section 2.3(a).
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Prior Bonus means the higher of (1) the Executive’s target incentive bonus during the fiscal year in which the Change in Control occurs and (2) the average of the annual incentive bonus earned under the Company’s Senior Management Incentive Plan or any comparable bonus earned under any successor plan (including any bonus earned and payable but not yet paid) for the last three full fiscal years (or such shorter period during which the Executive has been an employee of the Company); provided that, if the Executive is not employed by the Company for a full fiscal year, the Prior Bonus shall be the target incentive bonus for such year.
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Prior Bonus shall have the meaning set forth in Section 8.
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Related to Prior Bonus

  • 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.

  • Annual 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.

  • 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.

  • 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.

  • Retention Bonus means the amount equal to:

  • 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.

  • 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 means the bonus described in the Section 2.3.

  • 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.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Target Annual Bonus has the meaning set forth in Subsection 3b.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

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

  • 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.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Severance Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

  • 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.

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

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

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

  • 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:

  • Pro Rata Bonus means an amount equal to the Bonus Amount multiplied by a fraction the numerator of which is the number of days in the fiscal year through the Termination Date and the denominator of which is 365.