Target Bonus definition

Target Bonus means the target Bonus established for Executive, whether expressed as a percentage of Base Salary or a dollar amount.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Target Bonus means Executive’s annual (or annualized, if 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.

Target Bonus has the meaning described in Section 4(b).

Examples of Target Bonus in a sentence

• For purposes of calculating the Target Bonus Amount, Executive’s final Base Salary will be calculated prior to giving effect to any reduction in Base Salary that would give rise to Executive’s right to resign for Good Reason.

• On an annual basis during the Employment Term, the Committee shall review and analyze the then-current Base Salary and Target Bonus of Executive and determine, in its discretion, whether adjustments are necessary or advisable based on merit, to meet industry benchmarks or otherwise, taking into account market practice and the performance of both the Company and Executive.

• Target Bonus" shall mean the percentage of salary or level of bonus for Employee which is set by the Compensation Committee at the beginning of each year as an incentive goal to be achieved (it being understood that the actual bonus eventually earned could be lesser or greater than the Target Bonus).

• Partial Bonus" shall mean a bonus equal to the product of (i) Employee's most recently set Target Bonus, and (ii) a fraction, the denominator of which is 365 and the numerator of which is the number of days in the fiscal year being considered through the date of the termination of Employee's employment.

• Executive shall also receive an amount equal to the Target Bonus Amount for the year in which the Separation of Service occurs, payable in a lump sum within 60 days following the termination date and subject to required payroll deductions and tax withholdings.

More Definitions of Target Bonus

Target Bonus shall have the meaning set forth in Paragraph 5(b) hereof.

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

Target Bonus means the target cash bonus for which the Executive is eligible on an annual basis, at a level consistent with the Executive's title and responsibilities, under the Company's bonus program then in effect and applicable to the Company's senior executives generally.

Target Bonus means the percentage of salary or level of bonus for Employee which is set by the Compensation Committee at the beginning of each year as an incentive goal to be achieved (it being understood that the actual bonus eventually earned could be lesser or greater than the Target Bonus).

Target Bonus has the meaning set forth in Section 5(b).

Target Bonus means the target bonus (100% level) established for the Executive for the year in question under the Company's "Annual Incentive Plan" or "Performance Unit Plan," as applicable.

Target Bonus means the full amount of the targeted annual short-term incentive bonus that would be payable to the Executive, assuming the targeted performance criteria on which such annual short-term incentive bonus is based were deemed to be satisfied, in respect of services for the calendar year in which the date in question occurs.