Termination Bonus definition

Termination Bonus means an amount equal to the product of (a) the Target Bonus and (b) the fraction derived (expressed as a decimal) by dividing (1) the number of days in the year that preceded the date of termination by (2) 365.

Termination Bonus means an amount equal to one hundred percent (100%) of the Executive’s Base Salary then in effect.

Termination Bonus means (i) an amount equal to the Executive’s target bonus for the fiscal year in which the termination occurs, increased or decreased pursuant to actual performance versus targeted performance in the then current plan measured as of the end of the calendar month in the month preceding the Termination Date; or (ii) in the event the target bonus has not been so established as provided in (i), an amount equal to the Executive's Bonus for the four (4) fiscal quarters immediately preceding the Termination Date; provided, however, if there has been a Change in Control of the Company the Termination Bonus shall be an amount equal to the greater of (i) the preceding calculation or (ii) Executive’s Bonus for the four (4) fiscal quarters immediately preceding the Change in Control of the Company.

Examples of Termination Bonus in a sentence

• In the event of the Executive's death or the termination of employment due to Disability, the Company shall pay to the Executive (or beneficiaries, or estate, as the case may be) an amount equal to the sum of (i) the Compensation Payments and (ii) the Termination Bonus.

• Any Annual Bonus earned for any calendar year completed prior to the Date of Termination, but unpaid prior to such date, and any Prorated Termination Bonus owed pursuant to the last sentence of Section 3(b), shall be paid within sixty (60) days after the Date of Termination (but in any event on or prior to March 15 of the calendar year immediately following such completed calendar year with respect to which such Annual Bonus or Prorated Termination Bonus was earned).

• Any Annual Bonus earned for any calendar year completed prior to the Date of Termination, but unpaid prior to such date, and any Prorated Termination Bonus owed pursuant to the last sentence of Section 3(b), shall be paid within thirty (30) days after the Date of Termination (but in any event on or prior to March 15 of the calendar year immediately following such completed calendar year with respect to which such Annual Bonus or Prorated Termination Bonus was earned).

• The Termination Bonus shall be paid as a lump sum within thirty (30) days of the Triggering Event.

• The Termination Salary Payment and Termination Bonus Payment shall be paid in one lump sum within 45 days following the date of the Executive’s Separation From Service, provided that the Executive executes and does not revoke within any applicable revocation period the release described in Section 4(j)(ii)(B) below.

More Definitions of Termination Bonus

Termination Bonus means fifty percent (50%) of the Executive’s Annual Base Salary.

Termination Bonus means an amount equal to one (1) time the Executive’s Base Salary for the most recently completed fiscal year.

Termination Bonus means the greater of (i) [75%]5 [60%]6 [50%]7 of the Termination Base Salary, or (ii) the highest annual bonus earned during any of the three full fiscal years preceding the Date of Termination.

Termination Bonus means, (i) if the Date of Termination is during the first six (6) months of a Fiscal Year, the Annual Bonus received in respect of the prior Fiscal Year and (ii) if the Date of Termination is in the last six (6) months of a Fiscal Year, the amount of the Annual Bonus that is accrued through the Date of Termination for purposes of Parent’s financial statements in accordance with generally accepted accounting principles.

Termination Bonus shall be calculated on the same basis as outlined in Section IV (2) of this Agreement and shall be due and payable on the Effective Date of Xxxxxx'x Employment Termination as set forth in Section VIII (3) of this Agreement.

Termination Bonus means the excess of $810,000 over the sum of the 2007 Minimum Annual Bonus, the 2008 Minimum Annual Bonus and the 2009 Minimum Annual Bonus paid through the date of termination or payable as an Accrued Obligation, and (2) the "Present Value Termination Bonus" shall mean the sum of the present value of (i) the unpaid 2007 Minimum Annual Bonus, plus (ii) the unpaid 2008 Minimum Annual Bonus, plus (iii) the unpaid 2009 Minimum Annual Bonus: in each case present value shall be calculated using a discount rate of 5% and assuming each bonus would otherwise be paid on the last day of the applicable Employment Year.

Termination Bonus shall be calculated on the same basis as outlined in Section IV (2) of this Agreement and shall be due and payable on the Effective Date of Charles' Employment Termination as set forth in Section VXXX (0) of this Agreement.