Bonus Credit definition

Bonus Credit. For purposes of determining the Bonus Credit associated with a Purchase Payment to this Contract, the following table will be used: Owner's Investment Bonus Credit % ------------------ -------------- Less than $99,999 3.0% $100,000 or greater but less than $999,999 4.0% $1,000,000 or greater 5.0% The Owner's Investment at the time of a Purchase Payment is equal to the sum of:
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Bonus Credit means an amount credited to a Participant's Account as provided in Section 3.5(b)(1).
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Bonus Credit means the amount credited to a Participant’s Bonus Bank for a Performance Period based on Economic Profit.
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Examples of Bonus Credit in a sentence

  • The additional Bonus Credit percentage will be the difference between the percentage applicable to the subsequent Purchase Payment and the percentage applied to the prior Purchase Payments.

  • The amount of the Bonus Credit is calculated as a percentage of the Purchase Payment.

  • This additional Bonus Credit will not be applicable after the first anniversary of the Contract Date.

  • The additional Bonus Credit will be determined by multiplying the sum of the prior Purchase Payments by the additional Bonus Credit percentage.

  • The ten percent (10%) penalty is imposed after any forfeiture of the Bonus Credit and associated deemed earnings.

  • Any account balance transferred to this Plan from another plan in accordance with Section 2.4 that may be credited to the Deferred Stock Fund shall not be increased by the Bonus Credit.

  • Adjustment for Additional [Net] Purchase Payments If an additional [Net] Purchase Payment is received, the AWL will be recalculated and will be equal to the sum of [2%] of the additional [Net] Purchase Payment [and Bonus Credit] plus the AWL immediately prior to receipt of the additional [Net] Purchase Payment.

  • A Bonus Credit is paid into this Contract by LNL for the initial and all subsequent Purchase Payments made to this Contract.

  • The Bonus Credit will be allocated to the Variable sub-accounts and/or the fixed portion of this Contract in the same proportion as the Renewal Amount is allocated to the Variable sub-accounts and/or the fixed portion of this Contract.

  • A Bonus Credit equal to 2.00% of the Renewal Amount will be paid into this Contract.


More Definitions of Bonus Credit

Bonus Credit means an amount credited to a Participant’s Account as provided in Section 3.5(b)(1).
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Bonus Credit means either a fixed value or a percentage credit to a Player’s Lottery Account balance that may be used to purchase Games/Plays, but is not redeemable for cash.
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Bonus Credit means any credit offered to a customer by an Originator as an inducement to extend or renew, or as a reward for extending or renewing, a Contract.
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Bonus Credit in relation to a Member means any part of the Retirement Benefit which is not Transfer Credit and which is provided in respect of, or computed by reference to, service while not a Member, or which is not required by any Supplementary Rules to be provided but is provided by the Trustees on the direction of the Principal Company, or which is provided in consequence of any alteration in the Rules made after he became a Member.
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Related to Bonus Credit

  • 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).

  • 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).

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

  • 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.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • 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.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • Award Opportunity means a cash award opportunity established under the Plan for a Participant by the Committee pursuant to such terms, conditions, restrictions and/or limitations, if any, as the Committee may establish.

  • Other Incentive Award means an Award denominated in, linked to or derived from Shares or value metrics related to Shares, granted pursuant to Section 9.6 hereof.

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.

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

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

  • Award Year means a fiscal year beginning January 1 and ending December 31 with respect to which an Award may be granted.

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

  • Bonus means the bonus described in the Section 2.3.

  • Incentive Award means the right to receive a cash payment to the extent Performance Goals are achieved, and shall include “Annual Incentive Awards” as described in Section 10 and “Long-Term Incentive Awards” as described in Section 11.

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

  • 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.

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • Annual Award means the cash payment paid or payable to the Executive with respect to a fiscal year under the Corporation's Incentive Compensation Performance Plan.

  • Annual Incentive Plan means the Cinergy Corp. Annual Incentive Plan or any similar plan or successor to the Annual Incentive Plan.

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

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

  • 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);

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

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