Bonus Bank definition

Bonus Bank means, with respect to each Senior Executive, a bookkeeping record of an account to which Extraordinary Bonus Accruals are credited, and negative Accrued Bonuses debited as the case may be, for each Plan Year, and from which bonus payments to such Senior Executive are debited.

Bonus Bank means, with respect to each Participant, a bookkeeping record of an account to which amounts are credited, or debited as the case may be, from time to time under the Plan and from which bonus payments to such Participants are debited.

Bonus Bank means a deferred payment arrangement established under Section 6.2.

Examples of Bonus Bank in a sentence

• All or a portion of the Accrued Bonus will be either paid to the Participant or credited to or charged against the Bonus Bank as provided in this Article.

• The positive Bonus Bank balance will be paid in cash, net of applicable withholding taxes, as soon as reasonably practicable after the date on which it becomes payable.

• The negative Bonus Bank established for any Plan Year shall be eliminated to the extent not repaid pursuant to the preceding paragraph at the end of three years following the Plan Year with respect to which it arose.

• Upon termination for Cause or voluntary termination at the participant's instance, any unpaid portion of the "Bonus Bank" will be forfeited by the participant.

• Any positive balance in the Bonus Bank shall be payable without interest promptly upon the Company's termination of the participant's employment without "Cause," or upon the participant's death or retirement.

More Definitions of Bonus Bank

Bonus Bank means a bookkeeping account maintained by the Company pursuant to Section 4.6(b) of the Plan.

Bonus Bank means, with respect to each Executive Officer, a bookkeeping record of an account to which Extraordinary Bonus Accruals or positive Accrued Bonuses are credited, and negative Accrued Bonuses debited as the case may be, for each Plan Year, and from which bonus payments to such Executive Officers are debited.

Bonus Bank means, with respect to each Participant, a bookkeeping record of an account to which amounts are added to, or deducted from, as the case may be, from time to time under the Prior Plan (and subject to the transition rules of this Plan), and from which bonus payments to such Participant are paid out under the Prior Plan (and subject to the transition rules of this Plan). Subsequent to the 2007 Plan Year, Bank Balances will no longer exist.

Bonus Bank means, with respect to each Participant, a bookkeeping record

Bonus Bank means the amount of a Plan Participant’s Bonus potential that is not yet earned and which is accounted for by the Company in a non-interest bearing book entry account until such time as it may be earned and paid in the form of Bonus Paids under the Plan.

Bonus Bank means the bookkeeping account established and maintained by the Company under the Plan for the Participant which reflects the aggregate Bonus Credits for such Participant less the aggregate Bonuses paid to such Participant, in each case, in accordance with the terms of the Plan.

Bonus Bank means, with respect to each Participant, a bookkeeping record of an account to which Individual Awards for such Participant are added or subtracted, as the case may be, from time to time under the Plan and from which bonus payments to such Participant are subtracted.