Bonus Eligible Employee definition

Bonus Eligible Employee means an individual who is an Employee on November 1 preceding the Plan Year with respect to which deferrals are to be made (1) who satisfies both of the following conditions: (i) whose job position has a title of Director (or whose job function is, in the sole and absolute discretion of DXC, equivalent to a ‘Director’ position) and (ii) whose Annual Rate of Pay is equal to or greater than the dollar limit for highly compensated employees as defined in Section 414(q)(1)(B)(i) of the Code plus $30,000, or (2) whose job position has a title of Executive Vice President or above, irrespective of such Employee’s Annual Rate of Pay.

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Bonus Eligible Employee has the meaning set forth in Exhibit D.

Bonus Eligible Employee means any Company Employee who would have been eligible to receive payment of an Annual Bonus under the Annual Bonus Plan, who also remains employed through each applicable quarterly payment date referenced above and (ii) “Annual Bonus” shall mean the annual bonus in respect of a given fiscal year that otherwise could have been payable at the end of the applicable fiscal year, subject to achievement of applicable annual performance targets, pursuant to the applicable annual bonus Company Benefit Plans (identified in Section 5.5(e) of the Company Disclosure Schedule) (the “Annual Bonus Plans”).

Examples of Bonus Eligible Employee in a sentence

Each Bonus Eligible Employee shall receive his or her full earned Bonus Award Amount, if any, in a single lump sum cash payment, at the same time as Parent makes its 2020 annual bonus payments to employees of Parent, but no later than March 15, 2021.
For example, if the Operating Group Bonus Pool for the U.S. Operating Group is $1,000,000 and the Target Bonus for the Bonus Eligible Employee is 2% of the sum of the Target Bonuses of all Bonus Eligible Employees in the U.S. Operating Group, then this Bonus Eligible Employee should generally expect a bonus of $20,000.
Since the Operating Group Bonus Pool will be a fixed amount, if any Bonus Eligible Employee receives more than a pro rata portion (based on Target Bonuses as described in the first paragraph of this subsection), one or more other Bonus Eligible Employees must receive less than their pro rata amount.
The Bonus Amount would then equal the amount that the Bonus Eligible Employee would have received for 2004 under the applicable Company Bonus Plan had the Company's actual performance for 2004 equaled 120.
The 2020 Accrued Payments will be paid to each Bonus Eligible Employee, less applicable withholding, (i) in the first payroll period in March 2021 or (ii) the first payroll date of the applicable Group Company following the date of such Bonus Eligible Employee’s involuntary termination of employment without Cause by the applicable Group Company.
The actual bonus to be paid to any Bonus Eligible Employee will be a function of three things: • The Total Bonus Pool (described below) earned by the company as a whole.
For purposes of this Plan there are four Operating Groups: o Corporate o United States o Europe o APLAC • The portion of the Operating Group Bonus Pool allocated to each Bonus Eligible Employee within the Operating Group.
The Bonus Amount would then equal the amount that the Bonus Eligible Employee would have received for 2004 under the applicable Company Bonus Plan had the Company’s actual performance for 2004 equaled 120.
In the event that any Bonus Eligible Employee Voluntarily Resigns or is terminated by the Company prior to the Bonus Measurement Date, (A) such employee shall no longer be a Bonus Eligible Employee and shall not have any rights to any portion of the Employee Bonus Pool and (B) such employee’s Bonus Percentage shall be forfeited to Parent.
The calculation of pro rata for each Bonus Eligible Employee shall be the quotient determined by such Bonus Eligible Employee’s Retention Bonus Aggregate Payment divided by the sum of all of the then Bonus Eligible Employees’ Retention Bonus Aggregate Payments.

More Definitions of Bonus Eligible Employee

Bonus Eligible Employee has the meaning set forth in Section 2.11.

Bonus Eligible Employee shall have the meaning set forth in the Management Bonus Plan.

Bonus Eligible Employee means an individual who is an Employee on November 1 preceding the Plan Year with respect to which deferrals are to be made

Bonus Eligible Employee and “Bonus Eligible Employees” have the meanings set forth in Section 2.9.

Bonus Eligible Employee means an individual who is an Employee on November 1 preceding the Plan Year within which deferrals are to be made and whose job position has a title of Director (or whose job function is, in the sole and absolute discretion of HP, equivalent to a “Director” position) or above.