Severance Bonus Amount means, in the event of a termination (i) prior to June 1st of any calendar year, the annual performance-based bonus paid to the Executive for the calendar year prior to the termination or (ii) on or after June 1st of any calendar year, the annual performance-based bonus that would have been payable to the Executive for the calendar year of the termination (determined as of the end of such calendar year and payable when the Company pays its annual performance-based bonuses to similarly situated employees).
Severance Bonus Amount means an amount equal to the highest annual Incentive Compensation paid to Executive in respect of the two most recent fiscal years of the Company but not more than the Executive’s Target Bonus for the-then current fiscal year;
Severance Bonus Amount means the Bonus paid to Executive for the full calendar year prior to the calendar year in which the Termination Date occurs.
Examples of Severance Bonus Amount in a sentence
Your “bonus payment percentage” for purposes of calculation of your Severance Bonus Amount is the actual annual bonus earned by you with respect to a particular year, expressed as a percentage of your annual base salary for such year.
Severance Pay – Severance Pay is the sum total of an Eligible Participant’s Salary Amount and Severance Bonus Amount.
Severance Bonus Amount – Severance Bonus Amount is an Eligible Participant’s target annual bonus opportunity as provided under the eIP for the bonus year in which the Separation Date occurs.
Such foregoing prohibition shall not require that all Eligible Participants receive the same Salary Amount, Severance Bonus Amount, Premium Payment, treatment of Company Equity Awards or other additional payments and benefits that the Plan Administrator may in its sole discretion choose to provide to any given Eligible Employee.
Upon the termination of the Employment Period at any time by the Employer without Cause or by the Employee for Good Reason, the Employer shall pay to the Employee an amount (in addition to the amount payable under the first sentence of Section 3(e)(i)) equal to the sum of the Employee's annual Base Salary at the annual rate in effect on the date of termination and the Severance Bonus Amount.
More Definitions of Severance Bonus Amount
Severance Bonus Amount means an amount determined by averaging the percentages of Executive’s base salary which were actually awarded to Executive as incentive bonuses under short-term incentive plans of the Company or any of its Subsidiaries for the five most recently completed fiscal years prior to the fiscal year in which the Change of Control occurs, and multiplying such average percentage by the greater of (A) Executive’s annual base salary in effect immediately prior to the Termination of Employment, or (B) Executive’s annual base salary in effect as of the date of the Change of Control. If Executive was not employed by the Company or any of its Subsidiaries for the entire five-year period, the average shall be determined only for those years during which Executive was so employed.
Severance Bonus Amount means an amount equal to the Employee's Base Salary at the annual rate in effect on the date of termination multiplied by the bonus percentage applied under any executive bonus plan or other incentive compensation program for purposes of determining the Employee's annual bonus for the year preceding the year of termination. The Employer may pay the amount (if any) owed to the Employee pursuant to this Section 3(e)(ii) in equal installments pursuant to the Employer's customary pay practices over a period of 12 months; provided, however, that the Employee may, by giving written notice to the Employer at any time more than 6 months after the date of termination, require the Employer to pay all amounts that then remain outstanding under this Section 3(e)(ii) in a lump sum payment to be made within 10 days; provided further, that no such lump sum payment shall be required if the Board of Directors of the Employer determines in good faith that a lump sum payment would be materially detrimental to the interests of the Employer.
Severance Bonus Amount means an amount equal to the Employee's Base Salary at the annual rate in effect on the date of termination multiplied by a percentage, which is the greater of (1) the Effective Date Plan Percentage and (2) the "plan" or "target" bonus percentage then applicable under any executive bonus plan or other incentive compensation program.
Severance Bonus Amount means, in the event of a termination (i) on or prior to June 30th of any calendar year, the Bonus paid to the Executive for the calendar year prior to the termination or (ii) after June 30th of any calendar year, the Bonus that would have been payable to the Executive for the calendar year of the termination (determined as of the end of such calendar year). Notwithstanding the foregoing, the amount payable pursuant to the sum of (b) and (c) above shall not be less than the excess of (x) the product of the Severance Multiplier multiplied by $1.5 million over (y)
Severance Bonus Amount as defined in Section 2.7(a).
Severance Bonus Amount means (i) if the Termination Date occurs prior to the payment to the Executive of the annual incentive payment under the Company’s cash bonus incentive plan with respect to 2008, an amount equal to his Target Bonus for 2008, pro rated over the number of days of employment in the calendar year in which the Termination Date occurs, or (ii) if the Termination Date occurs after the payment to the Executive of the annual incentive payment under the Company’s cash bonus incentive plan with respect to 2008 (but prior to the payment with respect to 2009), an amount equal to such payment, pro rated over the number of days of employment in the calendar year in which the Termination Date occurs or (iii) if the Termination Date occurs after the payment to the Executive of the annual incentive payment under the Company’s cash bonus incentive plan with respect to 2009, an amount equal to the average of the last two annual incentive payments paid or payable to the Executive prior to the Termination Date, pro rated over the number of days of employment in the calendar year in which the Termination Date occurs.
Severance Bonus Amount means an amount in cash equal to the greater of (a) the Participant’s Target Bonus under the Participant’s Employing Company’s Short Term Bonus Plan for the year in which the Separation Date occurs, and (b) the product of the Participant’s Target Bonus under the Participant’s Employing Company’s Short Term Bonus Plan for the year in which the Separation Date occurs multiplied by the Average Actual Payout Percentage.