Valuation Limit definition
Valuation Limit means the value of the property (as assessed by the Board) as at the date of purchase or the purchase price, whichever is lower or such other value of the property as the Board shall determine in accordance with its policy prevailing at the time of the member’s application.
Valuation Limit means the number obtained by multiplying (a) 2.5 by (b) the number that is equal to the sum of your initial Base Salary and targeted Annual Bonus during the first year of the Employment Period, times the number of full and partial years worked as of the date of termination. For purposes of this definition, any partial year of employment will be pro-rated based on the number of whole months actually worked through the year of termination.
Examples of Valuation Limit in a sentence
With respect to Section 9(f) and Exhibit A of the Employment Agreement, for purposes of determining the Valuation Limit, all stock options granted to Employee under the Employment Agreement shall be deemed exercised upon vesting.