Prorated Annual Bonus Sample Clauses
A Prorated Annual Bonus clause defines how an employee’s annual bonus is calculated and paid if their employment does not cover the full bonus period. Typically, this means the bonus amount is adjusted based on the proportion of the year the employee actually worked, such as when they join or leave the company mid-year. This clause ensures fairness by aligning bonus payments with the actual time worked, preventing overpayment or underpayment when employment is not for the entire bonus period.
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Prorated Annual Bonus. In addition, you will receive a payment equal to the product of (i) the Annual Bonus that you would have been entitled to receive if corporate and/or individual objectives and milestones were fully achieved for the calendar year in which the Separation Date occurs (less standard payroll deductions and applicable withholdings) and (ii) a fraction, the numerator of which is the number of days you were continuously employed by the Company during the year of termination and the denominator of which is the number of days in such year, to be paid periodically in installments during the CIC Severance Period in accordance with the Company’s normal payroll practices beginning on the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.6) has become effective.
Prorated Annual Bonus. Pursuant to Section 6(b)(ii) of the Change in Control Severance Agreement, the Company shall pay a lump-sum payment in the gross amount of Seventy Six Thousand, One Hundred Seventy-Three Dollars and 00/100 ($76,173.00), subject to all applicable or customary tax withholding requirements.
Prorated Annual Bonus. From the Effective Date through the end of the relevant calendar year, Executive will receive a prorated Annual Bonus, calculated by taking the Annual Bonus that would have been awarded for the entire year and multiplying it by a fraction where the numerator represents the number of days from the Effective Date to the end of the calendar year, and the denominator represents the total number of days in that year. The Annual Bonus will be subject to the terms of the Company’s 2018 Incentive Compensation Plan, or any successor plan (the “Incentive Plan”).
Prorated Annual Bonus. The Company shall pay the Executive an amount equal to the product of (A) the Executive’s target annual bonus for the year in which the Termination Date occurs (assuming all individual and business criteria are met at target levels) and (B) a fraction, the numerator of which is the number of days in the current fiscal year through the Termination Date, and the denominator of which is 365, in a lump-sum payment on the tenth business day after the Release Effective Date.
Prorated Annual Bonus. With respect to the annual bonus for which the Executive was eligible under the Company’s annual incentive plan for the Fiscal Year in which the Termination Date occurs, the Company shall pay to the Executive an amount equal to the product of (A) the Executive’s Target Annual Bonus and (B) a fraction, the numerator of which is the number of days elapsed in the Fiscal Year in which the Termination Date occurs through the Termination Date, and the denominator of which is 365, in a single lump-sum cash payment within ten business days after the Release Effective Date (or such later date as may be required to comply with the provisions of Section 409A of the Code).
Prorated Annual Bonus. You will be eligible to receive a prorated Annual Bonus (calculated as the Annual Bonus that would have been paid for the entire calendar year multiplied by a fraction, the numerator of which is equal to the number of days you worked in the applicable calendar year, and the denominator of which is equal to the total number of days in such year). The prorated Annual Bonus, if any, will be paid to you, subject to standard payroll deductions and withholdings, at the time such bonus is paid to similarly situated employees.
Prorated Annual Bonus. In the event that the Company grants an annual bonus for calendar year 2012 to its Chairman and Chief Executive Officer (the amount of such bonus, the “2012 Annual Bonus”), the Company will pay to ▇▇▇▇▇▇▇▇▇ an amount equal to 41.6% of the 2012 Annual Bonus (i.e., a pro rata portion based upon 5 months of ▇▇▇▇▇▇▇▇▇’▇ employment during 2012), payable in accordance with the Company’s customary payment practices, less all applicable federal and state taxes and withholdings.
Prorated Annual Bonus. Prorated Annual Bonus (determined using the actual performance achieved for the performance year in which such termination occurs) based on the number of days elapsed from the commencement of the performance year through and including the Termination Date, such bonus payable at the same time bonuses are paid to other senior executives of the Company. ● SP-PSUs: All SP-PSUs (to the extent they remain unvested following a Change in Control shall vest immediately on the date of such termination. ● COBRA: Company pays, or reimburses, for the entire premium paid by Executive, for eighteen (18) months. ● Cash lump-sum severance payment: a lump-sum payment of 2.0x Base Salary, with such payment to be made on the first payroll date following the Release becoming irrevocable.
Prorated Annual Bonus. Executive shall receive an annual bonus for the 2023 fiscal year in an amount equal to twenty-five percent (25%) of Executive’s actual annual bonus for the 2022 fiscal year ($180,150), payable when 2023 annual bonuses are paid to executives of the Company generally.
Prorated Annual Bonus. Prorated Annual Bonus (determined using the actual performance achieved for the fiscal year in which such termination occurs) based on the number of days elapsed from the commencement of the fiscal year through and including the Termination Date, such bonus payable at the same time bonuses are paid to other senior executives of the Company. ● RSUs: All RSUs shall vested immediately on the Termination Date. ● SP-PSUs and PTP-PSUs: the award will be earned based on actual performance of the Company through the date of termination. PSUs will be earned pro rata through the Termination Date for any period of less than one year.