Bonus Increment definition

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 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.

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.

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 "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 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.
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 "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 or its affiliates to Executive under the management bonus plan or any successor thereto.
Within 15 days following the end of each three-month period during a Bonus Period (the “Bonus Increment Period”), the Company shall pay the Employee an amount (a “Bonus Increment”) equal to 70% of Revenues in excess of $525,000 (the “Measuring Increment”) minus any Measuring Increment for which a Bonus Increment was paid in a prior Bonus Increment Period, if any, due as of the last day of such Bonus Increment Period (net of applicable wage withholding).
Notwithstanding the foregoing, in the event that this Agreement is terminated or expires for any reason, Employee shall be entitled to a Bonus Increment on any Revenues received from clients of the Division to whom introductions were made and interviews scheduled by the Employee or the Other Employees prior to such termination, even if the Revenues are received by the Company after the date of such termination or expiration.
If UDT exceeds the Minimum Sales Quota for a particular calendar year by an amount of Product Sales equal to Fifteen Percent (15%) or greater, then Execute shall pay to UDT, in addition to the normal UDT Commission the following bonus payments: Two (2%) Percent for a total of Seven (7%) Percent Commission (a "Bonus Increment") for all sales in excess of the Minimum Sales Quota for the Calendar Year.