BONUS MULTIPLE Sample Clauses

BONUS MULTIPLE. For the Chief Executive Officer and executives in management level 17 and above at the time the Notice of Termination was given ONLY, an amount equal to the PRODUCT OF the Bonus Opportunity determined in clause c above MULTIPLIED BY the following multiple depending on the Executive's management level at the time the Notice of Termination was given: Chief Executive Officer 2 Mgmt. Level 17 or above 1
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BONUS MULTIPLE. For the Chief Executive Officer and executives in management level 17 and above at the time the Notice of Termination was given only, an amount equal to the product of the Bonus Opportunity determined in clause c above multiplied by the following multiple depending on the Executive’s management level at the time the Notice of Termination was given: Chief Executive Officer 2 Mgmt. Level 17 or above 1 e. Prior Year Bonus. If bonuses for the calendar year prior to the Executive’s Date of Termination have been distributed and the Executive has not yet been paid his incentive compensation award for such calendar year, and his Date of Termination is subsequent to the incentive compensation award payment date for such calendar year, then the Executive shall receive an additional amount equal to the product of the actual salary earned by the Executive during the prior calendar year multiplied by the actual bonus percentage approved for the Executive for such calendar year under the respective incentive compensation plan. The Executive agrees that he shall not be eligible for or entitled to any other incentive compensation award, including any pro rata incentive compensation award, pursuant to the Corporation’s and/or its subsidiaries’ or affiliates’ incentive compensation plans. The Executive’s agreement to this provision is a material consideration for the Corporation’s executing this Agreement. The Corporation shall pay to the Executive the amounts determined in clauses a through e above as follows:
Sample 1
BONUS MULTIPLE. For the Chief Executive Officer and executives in management level 17 and above ONLY, an amount equal to the PRODUCT OF the Bonus Opportunity determined in clause c above MULTIPLIED BY the following multiple depending on the Executive's management level immediately preceding either the Notice of Termination or, if greater, the Change of Control: Chief Executive Officer 2 Mgmt. Level 17 or above 1
Sample 1
BONUS MULTIPLE. For the Chief Executive Officer and executives in management level 17 and above only, an amount equal to the product of the Bonus Opportunity determined in clause c above multiplied by the following multiple depending on the Executive’s management level immediately preceding either the Notice of Termination or, if greater, the Change of Control: Chief Executive Officer 2 Mgmt. Level 17 or above 1 e. Change of Control Year Bonus. If the Executive has not yet been paid an incentive compensation award for the calendar year in which the Change of Control occurred in accordance with the terms of the incentive compensation plan in effect immediately preceding the Change of Control, the Executive shall receive an amount equal to the product of (i) the actual salary earned by the Executive during the calendar year in which the Change of Control occurred multiplied by (ii) the greater of bonus percentage based on actual company performance or one hundred twenty percent (120%) of stated target bonus opportunity for such calendar year under the incentive compensation plan as in effect immediately preceding the Change of Control; provided, however, if a “Big Five” accounting firm chosen by the Corporation does not verify the actual company performance in accordance with the terms of the incentive compensation plan in effect immediately preceding the Change of Control, the Executive shall receive an amount equal to the product of (i) above multiplied by one hundred percent (100%) of stated target bonus opportunity for such calendar year under the incentive compensation plan as in effect immediately preceding the Change of Control.
Sample 1

Related to BONUS MULTIPLE

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Quarterly Bonus The Employee shall be eligible to be paid a quarterly bonus earned in accordance with the terms set forth on Exhibit 3.2.

  • Target Bonus For purposes of this Agreement, “Target Bonus” means the assigned bonus target for the Executive under any short-term incentive plan(s) of the Company, multiplied by his or her base salary, for the relevant fiscal year. If the Executive’s base salary is changed during the relevant fiscal year, the Target Bonus shall be calculated by multiplying the Executive’s assigned bonus target by the highest base salary in effect during that fiscal year.

  • Annual Performance Bonus In the discretion of the Company's Compensation Committee, the Executive shall be eligible to receive an annual performance bonus payable in cash for each full or partial fiscal year of the Company during the Employment Period in accordance with the Company's performance-based bonus program for Executive Officers.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

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