Examples of Base Fiscal Year in a sentence
The Base Fiscal Year is defined as the fiscal year ending two years before the end of the fiscal year in which the payment is made.
Employer shall promptly advise Employee as to whether the Base Financial Target has been met during the Base Fiscal Year in question and, if so, the amount of the Deferred Bonus for that Base Fiscal Year as computed by Employer.
Once the final amount of Employee’s Deferred Bonus for any Base Fiscal Year has been computed, agreed or determined, such amount shall be memorialized in an addendum which shall also be attached hereto and shall be deemed a part hereof and such amount shall not then thereafter change.
If the Board elects to make such a payment, the amount may not be less than 10%, or greater than 35%, of the Corporation’s income before transfers when it equals or exceeds $2,000 for the Base Fiscal Year.
The forfeiture of Employee’s rights as to a Deferred Bonus for any particular Base Fiscal Year shall not prejudice or adversely affect in any way Employee’s rights, if any, to receive (or retain) a Deferred Bonus for another Base Fiscal Year.