Pro-Rata Annual Incentive Award means an amount equal to the product obtained by multiplying (i) the Executive’s target annual incentive award set forth in Section 5 for the year during which his employment hereunder terminates (with such award deemed to be no less than the greater of (x) the target annual incentive award for such year pursuant to Section 5 or (y) the actual annual incentive award of the Executive in the prior year of employment hereunder) times (ii) a fraction, the numerator of which is the number of days on which the Executive was employed by the Company during such year and the denominator of which is 365.
Pro-Rata Annual Incentive Award equal to the Pro Rata Portion (as defined below) of the sum of (1) and (2) below, with respect to any Annual Incentive Award with an incomplete performance period as of the Date of Termination:
Pro-Rata Annual Incentive Award means an amount equal to the product obtained by multiplying (x) the Executive's target annual incentive award (assuming continued employment) for the year during which his employment with the Company terminates times (y) a fraction, the numerator of which is the number of days he was employed with the Company during such year and the denominator of which is the number of days in such year.
Examples of Pro-Rata Annual Incentive Award in a sentence
The bonus for the year 2000 shall be determined as follows: (i) for the period prior to the Effective Date, a Pro-Rata Annual Incentive Award pursuant to the 1997 Employment Agreement and (ii) for the period after the Effective Date, a Pro-Rata Annual Incentive Award pursuant to this Agreement.
The Pro-Rata Annual Incentive Award (if any) shall be paid at the same time and subject to the same terms under Section 3 of this Agreement.
More Definitions of Pro-Rata Annual Incentive Award
Pro-Rata Annual Incentive Award means (i) an Annual Incentive Award for the Corporation’s fiscal year in which the Participant’s Date of Termination occurs pursuant to the Participant’s annual incentive scorecard or other applicable metric as recommended by management and as determined by the HRCC after initially considering whether the Participant was actively employed for a sufficient portion of the year to warrant an Annual Incentive Award and the following factors, as applicable: (A) actual full year performance results for any corporate and business unit performance goals set forth in the Participant’s Annual Incentive Award scorecard for the year of termination, (B) the Participant’s individual modifier as set forth in such scorecard, determined as of the end of such fiscal year, provided that the individual modifier shall not exceed 100%, (C) any risk assessment adjustment based on the HRCC’s assessment of any risk factors set forth in such scorecard, and (D) any other performance goals, adjustments and assessments as set forth in the scorecard and any applicable Annual Incentive Award plan, multiplied by (ii) a fraction the numerator of which shall be the number of days the Participant was employed by the Corporation during the fiscal year in which the Date of Termination occurred and the denominator of which is 365.
Pro-Rata Annual Incentive Award means an amount equal to the product obtained by multiplying (x) the aggregate amount of the annual incentive award that the Executive would have been entitled to receive for the calendar year during which his employment hereunder terminated if his employment hereunder had continued times (y) a fraction, the numerator of which is the number of days he was employed hereunder during such year and the denominator of which is the number of days in such year. Any Pro-Rata Annual Incentive Award shall be paid promptly following the completion of such calendar year in accordance with Section 5(d), and shall be reduced by the amount of any quarterly or other payments already made to the Executive in respect of an annual incentive award under Section 5 for such year.
Pro-Rata Annual Incentive Award means an amount equal to the product obtained by multiplying (i) the Executive’s target Annual Incentive Award set forth in Section 5 for the calendar year during which his employment hereunder terminates (with such award deemed to be no less than the greater of (x) the target Annual Incentive Award for such year pursuant to Section 5 or (y) the actual Annual Incentive Award of the Executive in the prior year of employment hereunder) times (ii) a fraction, the numerator of which is the number of days on which the Executive was employed by the Company during such year and the denominator of which is 365.
Pro-Rata Annual Incentive Award means the most recent Annual Incentive Award amount earned by the Executive prior to the Termination Date, multiplied by a fraction, the numerator of which is the number of days in such fiscal year through the Termination Date and the denominator of which is 365.
Pro-Rata Annual Incentive Award means an amount equal to the product obtained by multiplying (i) the Executive's target annual incentive award set forth in Section 5 for the year during which her employment hereunder terminates (with such award deemed to be no less than the greatest of (x) the target annual incentive award for such year pursuant to Section 5, (y) the Minimum Award (as defined is Section 5 hereof) for such year (if applicable) pursuant to Section 5, and (z) the actual annual incentive award of the Executive in the prior year of employment hereunder) times (ii) a fraction, the numerator of which is the number of days on which the Executive was employed by the Company during such year and the denominator of which is 365.
Pro-Rata Annual Incentive Award means an amount equal to the product obtained by multiplying (x) the aggregate amount of the annual cash incentive award that the Executive would have received, in respect of the period beginning on January 1 of the calendar year of termination and ending on the last day of the calendar quarter during which his employment hereunder terminated, if his employment hereunder had not terminated, but based on actual results for the year of termination through the end of such calendar quarter times (y) a fraction whose numerator is the number of days he was employed hereunder during the calendar year of termination, and whose denominator is the number of days in the calendar year of termination through the last day of the calendar quarter of termination. Any Pro-Rata Annual Incentive Award shall be paid as provided in Section 5 hereof.
Pro-Rata Annual Incentive Award means an amount equal to the product obtained by MULTIPLYING (x) the AVERAGE of (A) the Executive's Annual Bonus amount for the prior year (with such amount being deemed to be $200,000 for calendar years 1999 and 2000) and (B) the Executive's target Annual Bonus amount for the calendar year during which his employment with the Company terminates (with such amount being deemed to be $200,000 for calendar year 2000) TIMES (y) a fraction, the numerator of which is the number of days he was employed hereunder during the year of termination and the denominator of which is 365.