Bonus Equivalent definition

Bonus Equivalent means the highest annual bonus paid under the Corporation's Annual Incentive Plan over the three-year period directly preceding termination.
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Bonus Equivalent means an amount equal to a Participant’s target annual incentive amount for the year in which the Participant’s termination of employment occurs.
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Examples of Bonus Equivalent in a sentence

  • Payment of the Bonus Equivalent Award shall be made within ten (10) business days of the Effective Date.

  • In the event of a Trigger Event following a Qualifying Termination of Service, Executive's Then Effective Ownership Percentage shall equal the product of: - the quotient of (x) the Vested Bonus Equivalent divided by (Y) the Total Shares of Common Stock Outstanding; - multiplied by, the Applicable Conversion Ratio for the Terminal Equity Value.

  • In the event of a Trigger Event following a Qualifying Termination of Service, Executive's Then Effective Ownership Percentage shall equal the product of: o the quotient of (x) the Vested Bonus Equivalent divided by (Y) the Total Shares of Common Stock Outstanding; o multiplied by.

  • In the event of a Trigger Event during the Period of Employment, Executive's Then Effective Ownership Percentage shall equal the product of: - the quotient of (x) Executive's Maximum Bonus Equivalent divided by (Y) the Total Shares of Common Stock Outstanding; - multiplied by, the Applicable Conversion Ratio for the Terminal Equity Value for such Trigger Event.

  • Legally Mandated Christmas Bonus: Equivalent to 42 days of salary.

  • Apple se reserva el derecho de devolver las facturas incorrectas dentro de los 30 xxxx siguientes a su recepción [en el caso de facturas chilenas].

  • In the event that you become entitled to a Bonus Equivalent Payment in accordance with the preceding sentence, such Bonus Equivalent Payment will be made to you in accordance with the Company's standard practices related to annual incentive compensation of similarly situated executives, but in any event no earlier than January 1 and no later than December 31 of the calendar year following the Bonus Entitlement Year to which such Bonus Equivalent Payment relates.

  • Performance Award for which the performance period has not concluded or any other Eligible Employee and is not covered by Section 5(b)(i) or (ii) above – a lump sum payment equal to the sum of (a) the product of the number of full Years of Service (up to a maximum of 26) credited to the Eligible Employee multiplied by the Eligible Employee’s weekly rate of Base Pay at the time of termination of employment, plus (b) the Eligible Employee’s Pro Rata Bonus Equivalent, plus (c) Follow-on Benefits.

  • In the event that you become entitled to a Bonus Equivalent Payment in accordance with the preceding sentence, such Bonus Equivalent Payment will be made to you no earlier than January 1 and no later than December 31 of the calendar year following the Bonus Equivalent Year to which such Bonus Equivalent Payment relates.

Related to Bonus Equivalent

  • Award Value means the value, in dollars, of an award made to a Participant and as stated in the applicable Award Agreement, which is provided under the Plan in the form of PSUs or RSUs, as the case may be.

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

  • Phantom Share means a right, pursuant to the Plan, of the Grantee to payment of the Phantom Share Value.

  • Lead equivalent means the thickness of lead affording the same attenuation, under specified conditions, as the material in question.

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • 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).

  • 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).

  • DBRS Equivalent Rating means, with respect to any date and any Person with respect to whom DBRS does not maintain a public Relevant DBRS Rating as of such date,

  • Award Cycle means a period of consecutive fiscal years or portions thereof designated by the Committee over which Performance Units are to be earned.

  • Performance Percentage means the factor determined pursuant to a Performance Schedule that is to be applied to a Target Award and that reflects actual performance compared to the Performance Target.

  • 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.

  • Maximum Award means as to any Participant for any Performance Period, $4 million.

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

  • Target Award means the target award, at 100% of target level performance achievement, payable under the Plan to a Participant for the Performance Period, as determined by the Committee in accordance with Section 3(b).

  • Payout means that time at which cash distributions have been made by the Limited Partnership to the Unit Holders (together with their predecessors in interest) pursuant to Section 5.1 of the Limited Partnership Agreement (together with any distributions to such Unit Holders pursuant to Section 3.3 of the Limited Partnership Agreement), in an aggregate amount equal to the Unit Holders' Subscriptions to the Limited Partnership.

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

  • Aggregate Industry Equivalent Unit Score is then calculated for each S&P Industry Classification, shown on Schedule 2, and is equal to the sum of the Equivalent Unit Scores for each issuer in such industry classification group.

  • 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.

  • 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.

  • 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.

  • 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.

  • Performance Award Formula means, for any Performance Award, a formula or table established by the Committee pursuant to Section 10.3 which provides the basis for computing the value of a Performance Award at one or more levels of attainment of the applicable Performance Goal(s) measured as of the end of the applicable Performance Period.

  • 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.

  • 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;

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