Bonus Formula definition

Bonus Formula means as to any Performance Period, the formula established by the Committee pursuant to Section 6 in order to determine the Bonus amounts, if any, to be paid to Participants based upon the level of achievement of targeted goals for the selected Performance Measures. The formula may differ from Participant to Participant or business group to business group. The Bonus Formula shall be of such a nature that an objective third party having knowledge of all the relevant facts could determine whether targeted goals for the Performance Measures have been achieved.

Bonus Formula means the formula for calculating an Associate’s Bonus on the basis of a performance goal established under the Plan or otherwise.

Bonus Formula means as to any Performance Period, the formula established by the Committee pursuant to Section 6 in order to determine the Bonus amounts, if any, to be paid to Participants based upon the level of achievement of targeted goals for the selected Performance Measures. The bonus formula may include adjustments for individual performance considerations in addition to the selected Performance Measures. The formula may differ from Participant to Participant or business group to business group.

Examples of Bonus Formula in a sentence

• Depending upon the actual financial performance recorded by the Company for any given fiscal year, the Executive’s Annual Bonus may be increased or decreased solely in accordance with the Annual Bonus Formula and otherwise in accordance with the Annual Bonus Plan.

• The Bonus for each Participant shall be determined by applying the Bonus Formula to the level of actual performance that has been certified by the Committee.

• Notwithstanding any contrary provision of this Plan, the Committee, in its sole discretion, may eliminate or reduce the Bonus payable to any Participant below that which otherwise would be payable under the Bonus Formula.

• Termination of the Plan will not, however, affect any performance goal or Bonus Formula which has been established before the Plan is terminated or the right of any Participant to receive payments of a Bonus based on such goal or Bonus Formula.

• The Bonus Award for each Participant shall be determined by applying the Bonus Formula to the level of actual performance.

More Definitions of Bonus Formula

Bonus Formula means, as to any Performance Period, the formula established by the Committee with respect to the CEO, and by the CEO or the Committee with respect to other Entitled Employees, to determine the amounts available for Bonuses and the Bonus amounts, if any, to be paid to Entitled Employees based upon such compensation as the Committee may determine and the level of achievement of targeted goals for the selected Performance Measures. The formula may differ from Entitled Employee to Entitled Employee or from Bonus Classification to Bonus Classification.

Bonus Formula means the formula, determined by the Committee in its discretion, that is a function of the Business Criteria selected by the Committee, to determine each Participant’s Bonus for a Performance Period.

Bonus Formula means, with respect to any Performance Period, the formula established by the Committee pursuant to Section 6 in order to determine the Bonus amounts, if any, to be paid to Participants based upon the level of achievement of

Bonus Formula means a formula determined jointly and in good faith by the Board and Executive designed to provide Executive with incentive compensation each fiscal year commensurate with Executive's status and position as Chairman of the Board, Chief Executive Officer and founder of Company and the contribution and expected contribution of Executive to the success of Company; it being agreed that such formula is to be determined prior to the end of the third quarter of each of the Company's fiscal year during the Employment Term. The Bonus Formula may provide for appropriate adjustment in order to reflect special factors, including, without limitation, material changes in accounting policies or practices, material acquisitions or dispositions or other unusual or unplanned items (an "Adjustment Event"), which in the judgment of the Board, should be taken into account, in whole or in part, in furtherance of equity; it being understood that it is not intended that any such adjustment will either increase or decrease any Annual Bonus for performance following an Adjustment Event comparable to the performance contemplated in setting the Bonus Formula.

Bonus Formula means the specific objective goal or goals and/or applicable formula(s) for determining the amount of a Participant's Award and the form of payment thereof (cash and/or Shares, etc.) that are from time to time determined and set in writing by the Committee for the applicable Performance Period(s).

Bonus Formula has the meaning set forth in Section 5.6.

Bonus Formula means the formula for calculating an Associate’s Bonus on the basis of a performance goal established