Recent Annual Bonus definition

Recent Annual Bonus means the Executive’s target annual bonus for the year in which the Effective Date occurs.) Each such Annual Bonus shall be paid no later than two and a half months after the end of the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus pursuant to an arrangement that meets the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).

Recent Annual Bonus means a prior year’s Annual Bonus in cash equal to at least the highest “annual short-term incentive award” (as such terminology is defined in the Xxxxxx Xxxxxxx Annual Executive Short-Term Incentive Plan) received by the Executive under the Xxxxxx Xxxxxxx Annual Executive Short-Term Incentive Plan, or any comparable bonus under any predecessor or successor plan, including any bonus or portion thereof that has been awarded but deferred, for the last three full fiscal years prior to the Start Date. Notwithstanding anything to the contrary, in the event that during any three year look-back period above, any annual bonus paid and received by Executive under the Xxxxxx Xxxxxxx Annual Executive Short-Term Incentive Plan (or any respective predecessor annual incentive plan) was paid by a Xxxxxx Xxxxxxx affiliate other than the Company, then any such annual bonus paid by either the Company or any other Xxxxxx Xxxxxxx affiliate during the three-year look-back period shall be deemed to be paid by the Company for purposes of this computation.

Recent Annual Bonus means the Executive’s highest Annual Bonus for the last three fiscal years prior to the Change of Control Effective Date (annualized in the event that the Executive is not employed by the Company for the whole of such fiscal year).

Examples of Recent Annual Bonus in a sentence

• For purposes of determining the Recent Annual Bonus, the highest bonus under the Management Incentive Plan shall be determined by including bonuses earned for both the annual and multiyear performance periods ending in each of the last three full fiscal years prior to the Effective Date (or for such lesser number of full fiscal years prior to the Effective Date for which the Executive was eligible to earn such a bonus and annualized in the case of any pro rata bonus earned for a partial fiscal year).

• In addition to Annual Base Salary, the 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 the Executive's highest comparable bonus under any predecessor or successor plan, for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus").

• After a Change of Control, the Executive shall be awarded for each fiscal year ending during the Employment Period an Annual Bonus in cash at least equal to the Executive's average Annual Bonus for the last three full fiscal years prior to the Change of Control (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus").

• During any Change of Control Period, the Executive shall be awarded, for each fiscal year ending during the Change of Control Period, an Annual Bonus in cash at least equal to the Recent Annual Bonus.

• For purposes of determining the Recent Annual Bonus under the foregoing sentence, if the Executive was not employed by the Company for the whole of any of the last three fiscal years prior to the Effective Date, then the bonus paid with respect to such fiscal year shall be deemed to be the greater of (x) the Executive’s target bonus as set forth in the Executive’s employment offer letter, or (y) the actual bonus paid to the Executive with respect to such fiscal year.

More Definitions of Recent Annual Bonus

Recent Annual Bonus means the highest Annual Bonus paid or payable to the Employee (including any deferred amounts) with respect to any of the three full calendar years ending immediately prior to the Employee's termination of employment.

Recent Annual Bonus means the Executive’s average bonus earned under the Company’s Performance Incentive Plan, or any comparable bonus under any predecessor or successor plan, for the last three full fiscal years prior to the Effective Date (or for such lesser number of full fiscal years prior to the Effective Date for which the Executive was eligible to earn such a bonus, and annualized in the case of any bonus earned for a partial fiscal year). Notwithstanding the foregoing, the “Recent Annual Bonus” shall mean the amount determined by multiplying (i) the Executive’s target annual bonus percentage in effect for the fiscal year in which the Effective Date occurs times (ii) the Annual Base Salary, if that amount is higher than the amount determined pursuant to the preceding sentence, or if the Executive has not been eligible to earn such a bonus for any period prior to the Effective Date. Each such Annual Bonus shall be paid no later than the 15th day of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus pursuant to the terms and conditions of a nonqualified deferred compensation plan otherwise maintained by the Company for which the Executive is eligible to participate.

Recent Annual Bonus means the amount determined by multiplying (i) the Executive’s target annual bonus percentage in effect for the fiscal year in which the Effective Date occurs times (ii) the Annual Base Salary, if that amount is higher than the amount determined pursuant to the preceding sentence, or if the Executive has not been eligible to earn such a bonus for any period prior to the Effective Date. Each such Annual Bonus shall be paid no later than the 15th day of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus pursuant to the terms and conditions of a nonqualified deferred compensation plan otherwise maintained by the Company for which the Executive is eligible to participate.

Recent Annual Bonus is defined in Section 4(b)(ii).

Recent Annual Bonus means the Employee’s highest Annual Bonus for the last three fiscal years prior to the Change of Control Effective Date (annualized in the event that the Employee is not employed by the Company for the whole of such fiscal year).

Recent Annual Bonus. Annual base salary ("Annual Base Salary") means the greater of (a) the annual base salary payable to the Employee by the Employer and its affiliates as of the Date of Termination of employment (the "Current Annual Base Salary") or (b) the amount equal to twelve times the highest monthly base salary paid or payable, including any base salary which has been earned but deferred, to the Employee by the Employer and its affiliated companies in respect of the twelve-month period immediately preceding the month in which the Date of Termination occurs. Annual bonus (the "Annual Bonus") means the greater of (i) the targeted annual bonus that would be payable to the Employee for the fiscal year including the Date of Termination of employment if all performance targets under the Employer's annual incentive plan were met at the highest level of achievement or (ii) the Employee's highest bonus under the Employer's annual incentive plan, or any comparable bonus under any predecessor or successor plan, for the last fiscal year prior to fiscal year including the Date of Termination (annualized in the event that the Employee was not employed by the Employer for the whole of such fiscal year) (the "Recent Annual Bonus").

Recent Annual Bonus means the Executive's target bonus in effect for the year in which the Effective Time occurs under the Company's incentive plans (both annual and long-term), but in no event less than $595,000.