Prorated Target Bonus definition

Prorated Target Bonus means an amount determined by multiplying the actual percentage of the Executive’s base salary that was to be paid to the Executive as his Target Bonus in the year in which the Change in Control Date occurs by the Executive’s then-current Annual Base Salary as of the Date of Termination and prorating this amount by multiplying it by a fraction, the numerator of which is the number of days during the then-current calendar year that the Executive was employed by the Company up to and including the Date of Termination and the denominator of which is 365. Payment under any long term cash incentive plan shall be determined and governed solely by the terms of such plan.

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Prorated Target Bonus means the Target Bonus 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

Prorated Target Bonus means the Target Bonus multiplied by a fraction, the numerator of which is the number of whole and partial months (rounded up) from the date of termination of employment until the end of the fiscal year of the Company, and the denominator of which is 12.

Examples of Prorated Target Bonus in a sentence

Other than the Severance Payments and the Prorated Target Bonus, the Company shall have no further obligation to the Executive after the date of such termination; provided, however, that the Executive shall only be entitled to continuation of the Severance Payments as long as Executive is in compliance with the provisions of the Confidentiality, Non-Solicitation & Non-Compete Agreement, which is part of this Agreement.
The Prorated Target Bonus shall be paid to the Executive or his estate in a lump sum in cash within sixty (60) days after his date of termination (or such later date as may be required pursuant to Section 9(d)).
The Company shall pay the Prorated Target Bonus, subject to standard deductions and withholdings, in a lump sum on the first regularly scheduled payroll date following the date the Release becomes effective and can no longer be revoked provided that, if the release execution period begins in one taxable year and ends in another taxable year, payment shall not be made until the beginning of the second taxable year.
If the Termination Compensation, the Prorated Target Bonus or other benefit provided to Employee pursuant to this Agreement is determined, in whole or in part, to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code (“Section 409A”) and Employee is a “specified employee” within the meaning of Section 409A(2)(B)(i) of the Code, no payments of any of such benefit shall made for six (6) months plus one (1) day after the Termination Date (the “New Payment Date ”).
The Prorated Target Bonus shall be paid to the Executive or his estate in a lump sum in cash within sixty (60) days after his date of termination (or such later date as may be required pursuant to Section 9(e)).

More Definitions of Prorated Target Bonus

Prorated Target Bonus has the meaning set forth in Section 4.2(a) of this Agreement.

Prorated Target Bonus has the meaning set forth in Section 4.2(a) of this Agreement. 1.1 (z) "Specified Employee" has the meaning set forth in Section 4.9 of this Agreement.

Prorated Target Bonus means an amount determined by multiplying the actual percentage of the Executive’s base salary that was to be paid to the Executive as his Target Bonus in the year in which the Change in Control Date occurs by the Executive’s then-current Annual Base Salary as of the Date of Termination and prorating this amount by multiplying it by a fraction, the numerator of which is the number of days during the then-current calendar year that the Executive was employed by the Company up to and including the Date of Termination and the denominator of which is 365. Payment under any long-term cash incentive plan or other incentive compensation plan shall be determined and governed solely by the terms of the applicable plan.

Prorated Target Bonus means an amount equal to a pro rata portion of the Participant’s annual short-term incentive bonus target in effect on the Participant’s date of termination of employment based upon the percentage of the performance period that has elapsed through the date of termination of employment.

Prorated Target Bonus. For the purposes of this Agreement, “Prorated Target Bonus” shall have the meaning ascribed to it in Section 2(b) of this Agreement.

Prorated Target Bonus means an amount determined by multiplying the actual percentage of the Executive’s base salary that was to be paid to the Executive as his Target Bonus in the year in which the Date of Termination occurs, and prorating this amount by multiplying it by a fraction, the numerator of which is the number of days during the then-current calendar year that the Executive was employed by the Company up to and including the Date of Termination and the denominator of which is 365. Payments under any long term cash incentive plan are not part of or included in this calculation.

Prorated Target Bonus means the Target Bonus Amount multiplied by a fraction, the numerator of which is the number of days you were employed by the Company or its subsidiaries during the calendar year in which your termination of employment occurred, and the denominator of which is 365.