Benchmark Bonus definition

Benchmark Bonus has the meaning assigned to that term in Section 5.
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Benchmark Bonus means the greater of (a) the average of the three annual bonuses earned by the Participant under the terms of the Company’s annual incentive plan for the three consecutive fiscal years of the Company immediately preceding the Change in Control event (or, if the Participant has been employed for fewer than three fiscal years of the Company, the average of all annual bonuses earned by the Participant under the terms of the Company’s annual incentive plan for the fiscal years immediately preceding the Change in Control event) or (b) the annual bonus that would be payable to the Participant if the target level of performance was achieved for the fiscal year of the Company in which the Change in Control event occurs under the terms of the Company’s annual incentive plan applicable to such Participant. In the event that a Participant received a bonus in a year in which he was not employed for the entire 12 months of that year, such bonus will be annualized for purposes of determining the average as set forth in Article 1.2(a).
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Benchmark Bonus means an Executive’s target or maximum bonus potential for the year preceding a Change in Control.
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Examples of Benchmark Bonus in a sentence

  • The Benchmark Bonus shall be paid to Executive no later than March 14th of the year following the calendar year in which the Benchmark Bonus is earned by virtue of the Company becoming a U.S. public company.

  • Executive shall be entitled to receive a lump sum bonus payment of $15,625 (each, a "Quarterly Benchmark Bonus Payment") each time Company's actual performance with respect to all of the four Benchmarks in a particular fiscal quarter equals or exceeds the target Benchmark for such fiscal quarter as set forth in an Annual Budget.

  • Mortgage-backed securities, which comprise 10% of the portfolio, are subject to repayment at the discretion of the underlying borrower.

  • Each time Company's actual performance with respect to all of the four Benchmarks for the fiscal year equals or exceeds the target Benchmark for such fiscal year as set forth in an Annual Budget, Executive shall also be entitled to receive a lump sum bonus payment equal to the sum of (i) $15,625 and (ii) any Quarterly Benchmark Bonus Payments Executive did not previously earn during such fiscal year.

  • By: /s/ Xxxxx Xxxxxxx Authorized Signatory Dated: This Note is one of a duly authorized issue of notes of GAIN Capital Holdings, Inc.

  • Initially, the Company and Executive agree that Executive will be eligible for (i) a cash bonus of $2,500,000.00 (the "Benchmark Bonus"), to be paid out of the Company's working capital, plus an additional cash gross-up payment in an amount equal to the federal, state, city and local income taxes payable by Executive in connection with Executive's receipt of the Benchmark Bonus ("Applicable Tax Gross-Up").

  • If Employer achieves only one of the Benchmark Bonus Criteria and at least ninety percent (90%) of the other two Benchmark Bonus Criteria, then Employee shall be entitled to an alternative Benchmark Bonus (the "Alternative Benchmark Bonus") of $26,667 ($33,334 for any Renewal Term).

  • In the event Employee receives a Bonus Advance with respect to any Benchmark Bonus or Alternative Benchmark Bonus which ultimately is determined not to have been earned by Employee, Employer may deduct the amount of any such excess Bonus Advance from any future payment due to Employee under this Agreement or otherwise.

  • Upon termination for Cause, Employee will not be entitled to any other benefits described hereunder, including, but not limited to, any Benchmark Bonus, Alternative Benchmark Bonus, Revenue Bonus or Subscriber Bonus with respect to the Term or any Renewal Term in which termination occurs.

  • Employer shall pay to Employee a Bonus Advance of $17,778 if the Annualized Results project a Benchmark Bonus or $8,889 if the Annualized Results project a $53,334 Alternative Benchmark Bonus.

Related to Benchmark Bonus

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • Annual Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Bonus means the bonus described in the Section 2.3.

  • Cash Incentive Award means a cash award granted pursuant to Section 8 of this Plan.

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.

  • Performance Cash Award means an award of cash granted pursuant to the terms and conditions of Section 6(c)(ii).

  • Target Bonus means the target Bonus established for Executive, whether expressed as a percentage of Base Salary or a dollar amount.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Bonus Award means a bonus award made pursuant to Section 9.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Incentive Compensation Awards means awards granted under Incentive Compensation Plans providing the Executive with the opportunity to earn, on a year‑by‑year basis, annual and long‑term incentive compensation.

  • Performance Period means the one or more periods of time, which may be of varying and overlapping durations, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to, and the payment of, a Performance-Based Award.

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Award Period means the period beginning on an Award Date and ending on the expiration date of such Award.

  • LTIP Award means each or any, as the context requires, LTIP Award issued under any Equity Incentive Plan.

  • Bonus Amount means the greater of (i) the average annual incentive bonus earned by Executive from the Company (or its affiliates) during the last three (3) completed fiscal years of the Company immediately preceding Executive's Date of Termination (annualized in the event Executive was not employed by the Company (or its affiliates) for the whole of any such fiscal year), and (ii) the Executive's target annual incentive bonus for the year in which the Date of Termination occurs.

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Bid incentive means an amount deducted, for bid evaluation purposes only, from the contract base bid in order to calculate the bid price to be used to evaluate the bid on a competitively bid contract.

  • Performance Cash means any cash incentives granted pursuant to Article 9 payable to the Participant upon the achievement of such performance goals as the Committee shall establish.