Cumulative Bonus Booster Sample Clauses

Cumulative Bonus Booster. You may choose one of the 4 Cumulative Bonus Options under the Policy as follows Option a) We will increase the opted Sum Insured by 10% at the end of the Policy Year, up to a maximum of 100%, if the policy is Renewed with Us provided that there are no claims paid or outstanding in the expiring Policy Year. In case of opting for Cumulative Bonus Booster IV.3.(a), the Cumulative Bonus under section III.(1) shall not be available, however all terms and conditions of the said section shall apply. Option b) We will increase the Sum Insured by 25% at the end of the policy year, up to a maximum of 100%, if the policy is Renewed with Us provided that there are no claims paid or outstanding in the expiring Policy Year. In case of opting for Cumulative Bonus Booster IV.3.(b), the Cumulative Bonus under section III(1) shall not be available, however all terms and conditions of the said section shall apply. Option c) We will increase in the opted Sum Insured by 50% for each claim free Policy Year, up to a maximum of 100%, when there are no claims paid or outstanding in the expiring Policy Year. In case of a claim being paid or remaining outstanding at the end of a Policy Year or at the time of Renewal of such Policy, the earned cumulative bonus will reduce by 50% in the subsequent year. However this does not impact the opted Sum Insured. In case of opting for Cumulative Bonus Booster IV.3(c), the Cumulative Bonus under section III.(1) shall not be available, however all terms and conditions except III(1).d & e. of the said section shall apply. Option d) We will increase in the opted Sum Insured by 10% at the end of each Policy Year irrespective of a claim under the expiring Policy Year, up to a maximum of 200%. In case of opting for Cumulative Bonus Booster IV.3(d), the Cumulative Bonus under section III.(1) shall not be available, however all terms and conditions except III(1).a.c. of the said section shall apply.
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Cumulative Bonus Booster. We will provide an option to increase the Sum Insured by 25% for each claim free year up to a maximum of 100% when there are no claims paid or outstanding in the expiring Policy Year provided that the Policy is renewed with Us without a break. o No cumulative bonus will be added if the Policy is not renewed with Us by the end of the Grace Period. The Cumulative Bonus will not be accumulated in excess of 100% of the Sum Insured under the current Policy with Us. o Any earned Cumulative Bonus will not be reduced for claims made in the future. Wherever o the earned Cumulative Bonus is used for payment of a claim during a particular Policy Year, the balance Cumulative Bonus if any will be carried forward to the next Policy Year. o In case of opting for Cumulative Bonus Booster, the Cumulative Bonus under section III. (iii) shall not be available, however all terms and conditions of the said section shall apply. o This Cumulative bonus shall not be available for claims made for Maternity Expenses under Section II.11, New Born Baby Expenses Section II.12 and First Year Vaccinations Section II.13
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Related to Cumulative Bonus Booster

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Incentive Bonuses After the Company attains profitability, the Employee shall be eligible to be considered for an annual incentive bonus. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board or its Compensation Committee. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding. Except as expressly provided in this Agreement, the Employee shall not be entitled to an incentive bonus if he is not employed by the Company on the date when such bonus is payable.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • 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.

  • Annual Bonuses For each fiscal year during the term of employment, the Executive shall be eligible to receive a bonus in the amount, if any, as may be determined from time to time by the Board in its discretion.

  • 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.

  • 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.

  • Discretionary Bonuses The Employee shall participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that the Board may award from time to time to the Bank’s senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to participate in such discretionary bonuses.

  • 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 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.

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