Prorated Performance Bonus definition

Prorated Performance Bonus means the award to which the Participant would have been entitled under the Annual Incentive Program, if any, at the end of the then current performance period based on actual performance during the performance period, prorated by multiplying such award by a fraction, the numerator of which is the number of days during the performance period that the Participant is employed by the Company and the denominator of which is 365. In addition, Prorated Performance Bonus shall include any amounts to which the Participant is entitled under the Quarterly Incentive Plan upon termination of employment in accordance with the terms of such plan.
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Prorated Performance Bonus means the portion of the Performance Bonus, if any, that is payable with respect to a fiscal year which becomes due after a termination of this Agreement under Sections 5(c) or 9(b) hereof. The Prorated Performance Bonus will be calculated as follows: the Committee shall (a) determine the Performance Bonus to which Executive would have been entitled, had Executive been employed for the entire fiscal year, in accordance with Section 5(b)(i) hereof; (b) divide that amount by 52 to produce a Weekly Amount; and (c) multiply the Weekly Amount by the number of weeks during the relevant fiscal year that Executive was employed by GTECH.
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Prorated Performance Bonus means an amount equal to the annual cash bonus Executive would have received for the fiscal year that ends on or immediately after the Date of Termination, based on the Company’s actual achievement of performance goals for such year prorated for the period beginning on the first day of the fiscal year in which occurs the Date of Termination through the Date of Termination, with such prorated bonus being paid at the time that cash bonuses are normally paid under the Company’s annual cash bonus plan then in effect.
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Examples of Prorated Performance Bonus in a sentence

  • Any Prorated Performance Bonus shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 14 days following the Date of Termination (or at such earlier date required by law).

  • The Prorated Performance Bonus shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 30 days following the Date of Termination (or at such earlier date required by law).

  • Such Prorated Performance Bonus, if any, shall be paid to Executive (or in the case of Executive’s death, Executive’s designated beneficiary) during the calendar year following the Bonus Plan Year at the same time at which the Company pays bonuses for such Bonus Plan Year to other Executives of the Company, subject to Section 4.5(d) hereof.

  • Any Prorated Performance Bonus shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 30 days following the Date of Termination (or at such earlier date required by law).

  • Such Prorated Performance Bonus, if any, shall be paid to Executive (or in the case of Executive’s death, Executive’s designated beneficiary) at the same time in which the Company pays bonuses for such calendar year to other Executives of the Company.

  • Payment by the Company of the Severance Payment and the Prorated Performance Bonus due to Executive pursuant to this Section 4.5(c) shall be conditioned upon Executive’s executing a release of claims in the form attached hereto as Exhibit A (the “Release”) within twenty-one days (or, to the extent required by law, forty-five days) following the Date of Termination, and not revoking such Release within seven days thereafter.

  • If the Executive’s employment is terminated by reason of death pursuant to Section 5(a), the Company shall pay to the Executive’s estate (i) any accrued, unpaid base salary payable under Section 4(a) as in effect on the Date of Termination, (ii) any unreimbursed business expenses under Section 4(b), and (iii) the Prorated Performance Bonus.

  • If the Executive’s employment is terminated upon the expiration of the Employment Terms, the Company shall pay to the Executive (A) any accrued, unpaid base salary payable under Section 4(a) as in effect on the Date of Termination, (B) any unreimbursed business expenses under Section 4(b), and (C) the Prorated Performance Bonus.

  • If the Executive’s employment is terminated by reason of disability pursuant to Section 5(b), the Company shall pay to the Executive (i) any accrued, unpaid base salary payable under Section 4(a) as in effect on the Date of Termination, (ii) any unreimbursed business expenses under Section 4(b), and (iii) the Prorated Performance Bonus.

  • The payment of any Performance Bonus or Prorated Performance Bonus after such termination shall be made in cash, notwithstanding the provisions of Section 5(b)(i) hereof.


More Definitions of Prorated Performance Bonus

Prorated Performance Bonus means the portion of the Performance Bonus, if any, which becomes due after a termination of this Agreement under Sections 5(c) or 9(b) hereof. The Prorated Performance Bonus will be calculated as follows: the Committee shall (a) determine the Performance Bonus to which Executive would have been entitled, had Executive remained employed for the entire fiscal year, in accordance with Section 5(b)(i) hereof; (b) divide that amount by 52 to produce a Weekly Amount; and (c) multiply the Weekly Amount by the number of weeks during the relevant fiscal year that Executive was employed by the Company.
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Prorated Performance Bonus means an amount equal to the Target Bonus that a Participant would have been eligible to receive for the calendar year in which the Change in Control occurs, multiplied by a fraction, the numerator of which is the number of days during which the Participant was employed by a Company Entity in the calendar year of the Change in Control, and the denominator of which is 365.
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Prorated Performance Bonus means the portion of the Performance Bonus, if any, which is payable with respect to fiscal 2003 (as provided in Section 5(b)(i)), or which becomes due after a termination of this Agreement under Sections 5(c) or 9(b) hereof. The Prorated Performance Bonus will be calculated as follows: the Committee shall (a) determine the Performance Bonus to which Executive would have been entitled, had Executive been employed for the entire fiscal year, in accordance with Section 5(b)(i) or (ii) hereof, (b) divide that amount by 52 to produce a Weekly Amount; and (c) multiply the Weekly Amount by the number of weeks during the relevant fiscal year that Executive was employed by the Company.
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Related to Prorated Performance 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 any distributions per Unit of that Class during the Performance Bonus Term exceeds $28.00.

  • 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.

  • 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.

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