Prorated Target Bonus definition

Prorated Target Bonus has the meaning set forth in Section 4.2(a) 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 shall be determined and governed solely by the terms of such plan.

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

Examples of Prorated Target Bonus in a sentence

• The Accrued Obligations and the Prorated Target Bonus shall be paid to the Participant, or the Participant’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days after the Date of Termination, subject to any applicable deferral election as contemplated by Sections 3.1(a)(i) and (ii).

• The Prorated Target Bonus payable to any Executive shall be solely the obligation of the Employer by whom the Executive was employed on his or her Termination 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(d)).

• 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.

• Notwithstanding the foregoing, the Company may pay the Prorated Target Bonus in the form of a lump sum, which amount will be paid on the Initial Payment Date, but such lump sum payment shall be made only if the Company, in consultation with its advisors, determines that such payment will not result in adverse taxation under Section 409A.

More Definitions of Prorated Target Bonus

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.

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. 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 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 means the pro-rata portion (determined based on the number of days the Executive is employed by the Company during the bonus performance period) of the Executive’s Target Bonus.

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.

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. If the Target Bonus is nonqualified deferred compensation, as defined in Code Section 409A and the regulations thereunder, payment of the Prorated Target Bonus shall be delayed until the date it would otherwise be paid in accordance with the Company’s annual bonus plan if the Executive had continued in employment with the Company. Payment under any long term cash incentive plan shall be determined and governed solely by the terms of such plan.