Bonus Increment definition

Bonus Increment. The Bonus Increment shall equal the annualized average of all bonuses and incentive compensation payments including stock options paid or payable to Executive during the Employment Period under all of the Company's bonus and incentive compensation plans or arrangements, if any.
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Bonus Increment shall equal the annualized average of all cash bonuses and cash incentive compensation payments paid to Executive during the two (2) year period immediately before the date of Executive’s Involuntary Termination under all of the Company’s bonus and incentive compensation plans or arrangements.
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Bonus Increment. The Bonus Increment shall equal the annualized average of all bonuses and incentive compensation payments other than stock options paid or payable to Consultant during the three-year period immediately before Consultant's Date of Termination under all of the Company's bonus and incentive compensation plans or arrangements, if any. (c) In lieu of a cash lump sum, Consultant may, in his sole discretion, elect to receive the Severance Payment in equal annual installments over three (3) years (or such lesser number of years as Consultant may elect). Such installments shall be paid to Consultant on each anniversary of Consultant's Date of Termination, beginning with the first such anniversary and continuing on each such anniversary thereafter until fully paid. Such election to receive the Severance Payment in installments may be made and/or revoked by Consultant at any time prior to the termination of his engagement by providing written notice to the Board of such election. Any such election by Consultant to receive the Severance Payment in installments that has been made and not revoked prior to Consultant's termination shall, effective the date of such termination, be irrevocable and binding on all parties hereto. (d) In the event that at the time of Consultant's Qualifying Termination there is not in effect an election by Consultant to receive the Severance Payment in installments, such Severance Payment shall be paid to Consultant in a single cash lump sum. In the event that Consultant has made an appropriate election to receive the Severance Payment in annual installments, and Consultant becomes entitled to such Severance Payment as provided in this Agreement, then such Severance Payment, to the extent at any time unpaid and/or deferred, shall be deemed to bear interest at the base or prime rate in effect from time to time as publicly announced by Bank of America NT&SA (the "Prime Rate"). Accrued interest shall be due and payable together with each annual installment of the Severance Payment.
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Examples of Bonus Increment in a sentence

  • Any shares of the Company’s common stock paid in accordance with the Bonus Increment shall have a value equal to the fair market value as of the last day of the period for which they are issued.

  • For purposes of this Agreement, Executive's "Compensation" shall equal the sum of (i) the higher of Executive's current Base Salary or Executive's highest annual salary rate within the five-year period ending on Executive's Date of Termination due to a Qualifying Termination, plus (ii) a Management Bonus Increment.

  • The Bonus Increment shall be calculated by multiplying five percent (5%) by the Invested Capital as of the beginning of the Year for the Participation Pool, subject to adjustment by the Committee.

  • The "Management Bonus Increment" shall equal the higher of 100% of the target bonus rate in the year Executive's employment terminates or the average of the two highest of the last five bonuses paid by the Company to Executive under the management bonus plan or any successor thereto.

  • The program has given funds to ten students chosen through a blind review process.▪ Selected as one of ten finalists for the fifth annual McKinsey/SMS Best Conference Paper Prize.

  • Principle 3 – Governance Process for Bonus, Increment and Promotion (“BIP”)The Bank has established a robust BIP process to ensure proper governance and sufficient controls are in place.

  • The Bonus Increment shall equal the annualized average of all bonuses and incentive compensation payments paid to Executive during the two (2) year period immediately before the date of Executive's Qualifying Termination under all of the Company's bonus and incentive compensation plans or arrangements.

  • The Bonus Increment shall equal the annualized average of all bonuses and incentive compensation payments paid to Executive during the two (2) year period immediately before the date of Executive's Qualifying Termination under all of the Company's bonus and incentive compensation plans or arrangements, or during such shorter period if Executive has been employed by the Company or any of its affiliated companies for a shorter period.

  • Principles- Oversight by Remuneration Committee & Board of Directors- Prudent Risk Taking- Governance Process for Bonus, Increment and Promotion (BIP) Remuneration practices:C.

  • For avoidance of doubt, the Retention Awards are in addition to, and not in lieu of, any benefits that may become payable under the Severance and CIC Agreement; provided that the Cash Retention Award shall not be treated as a cash bonus or cash incentive compensation payment for purposes of the Severance and CIC Agreement and shall be expressly excluded from the calculation of any Bonus Increment or Compensation (each, as defined under the Severance and CIC Agreement).

Related to Bonus Increment

  • Scan increment means the amount of relative displacement of the patient with respect to the CT x-ray system between successive scans measured along the direction of such displacement.

  • Maximum Incremental Amount means, at any time, the sum of (a) $1,400.0 million minus the Dollar Equivalent amount (measured at the time of incurrence) of New Term Loans, New Revolving Commitments and Permitted Alternative Incremental Facilities Debt previously established or incurred in reliance on this clause (a) plus (b) the aggregate Dollar Equivalent amount (measured at the time of prepayment or reduction) of Term Loans and Revolving Commitments outstanding on the Closing Date (or established pursuant to clause (a) above) that are optionally prepaid or optionally reduced (other than with the proceeds of long-term Indebtedness (other than borrowings under any revolving credit facility) and other than Revolving Commitments replaced with New Revolving Commitments) following the Closing Date and on or prior to such time (and, in the case of any prepayment of Term Loans pursuant to Section 2.08(d), based on the Dollar Equivalent amount (measured at the time of each applicable prepayment) expended by the Borrowers pursuant to such Section 2.08(d) and not the principal amount) plus (c) an unlimited amount so long as, in the case of this clause (c) only, on a pro forma basis (including the application of proceeds therefrom but excluding any increase in cash and cash equivalents and treating any New Revolving Commitments established pursuant to this clause (c) as fully drawn and all Permitted Alternative Incremental Facilities Debt incurred pursuant to this clause (c) as secured by Liens whether or not actually secured (but without giving effect to any substantially simultaneous incurrence of any New Term Loans, New Revolving Commitments or Permitted Alternative Incremental Facilities made pursuant to the foregoing clauses (a) and (b))), the Consolidated Secured Debt Ratio would not exceed 3.00 to 1.00 (it being understood that the Borrowers shall be deemed to have used amounts under clause (c) (to the extent compliant herewith) prior to utilization of amounts under clause (a) or (b)).

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Incremental Increase has the meaning specified in Section 2.16(a).

  • Available Incremental Amount has the meaning set forth in Section 2.14(d)(v).

  • Fixed Incremental Amount has the meaning specified in the definition of “Permitted Incremental Amount.”

  • Total Incremental Term Loan Commitment means the sum of the Incremental Term Loan Commitments of any Class of Incremental Term Loans of all the Lenders providing such Class of Incremental Term Loans.

  • Incremental Amount has the meaning specified in Section 2.14(a).

  • Incremental Term Loan Amendment has the meaning assigned to such term in Section 2.20.

  • Incremental Facility Amendment has the meaning specified in Section 2.14(d).

  • Annual increase means, initially, fifty-nine cents per month

  • Incremental Cap has the meaning assigned to such term in Section 2.21(a).

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Incremental Commitment shall have the meaning set forth in Section 2.23.

  • Incremental Term Commitment means, with respect to any Lender, the commitment, if any, of such Lender, established pursuant an Incremental Facility Agreement and Section 2.21, to make Incremental Term Loans of any Series hereunder, expressed as an amount representing the maximum principal amount of the Incremental Term Loans of such Series to be made by such Lender.

  • Incremental Term Lenders (a) on any Increased Facility Activation Date relating to Incremental Term Loans, the Lenders signatory to the relevant Increased Facility Activation Notice and (b) thereafter, each Lender that is a holder of an Incremental Term Loan.

  • Tax Increment means the difference between:

  • Incremental Term Loan Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain term loans to one or more Borrowers.

  • Incremental Term Loan Amount means, at any time, the excess, if any, of (a) $25,000,000 over (b) the sum of (i) the aggregate increase in the Revolving Credit Commitments established at or prior to such time pursuant to Section 2.24 and (ii) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.25.

  • Leverage Increase Period has the meaning specified in Section 7.11(a).

  • Incremental Term A Loans has the meaning specified in Section 2.14(a).

  • Incremental Term Commitments has the meaning set forth in Section 2.14(a).

  • Incremental Term Lender means a Lender with an Incremental Term Loan Commitment or an outstanding Incremental Term Loan.

  • Incremental Term B Loans has the meaning specified in Section 2.14(a).

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.