Bonus Pay definition

Bonus Pay means, with respect to a Participant, the total target payments with respect to the Participant under the Company’s cash bonus and other cash incentive programs at 100% of plan for the Company fiscal year in which the Change of Control occurs (or for the immediately preceding year if the target payment with respect to the Participant for the Company fiscal year in which the Change of Control occurs has not yet been established) (without regard to any reduction made in the target payments In Anticipation of a Change of Control), or, if greater, for the Company fiscal year in which the Participant’s employment terminates.
Bonus Pay means, with respect to a Participant, the total target payments to the Participant under the Company’s cash bonus, commission and incentive programs at 100% of plan for the Company fiscal year in which the Change of Control occurs, or, if greater, for the Company fiscal year in which the Participant’s employment terminates, and Company contributions allocated to the Participant’s account under the Company’s 401(k) plan (other than contributions attributable to the Participant’s salary deferral election), for the calendar year coinciding with or immediately preceding the year in which the Severance Payment becomes payable.
Bonus Pay means amounts payable to an Eligible Employee under the annual cash incentive plan of the Employer, prior to reduction for amounts deferred under the Employer’s qualified retirement plans or Code Section 125 plans. Bonus Compensation does not include other types of remuneration, such as long-term incentive pay or restricted stock awards.

Examples of Bonus Pay in a sentence

  • Your pro rata portion of any Bonus Pay shall be based upon the number of days in such calendar year elapsed through the Notice Date of such termination as a proportion of 365.

  • The Severance Payment for the Company’s Chief Executive Officer shall equal the product of 2.99 times the sum of the Chief Executive Officer’s Base Pay and Bonus Pay.

  • We define as Total Pay the sum of these two pay components and as Bonus Share the ratio of Bonus Pay to Base Salary.

  • Merit Bonus Pay is defined as a management tool to encourage and reward excellence among employees who are at the top of their respective pay scales.

  • Merit Bonus Pay is designed to recognize outstanding performance without employee expectation of continual receipt of an award.


More Definitions of Bonus Pay

Bonus Pay means any additional remuneration 21 in an amount exceeding two hundred dollars provided 22 an employee in the form of a bonus, including but 23 not limited to a retention bonus, recruitment bonus, 24 exceptional job performance pay, extraordinary 25 job performance pay, exceptional performance pay, 26 extraordinary duty pay, or extraordinary or special 27 duty pay, and any extra benefit not otherwise provided 28 to other similarly situated employees.
Bonus Pay means money paid to employees which is over and above their wages and overtime money. The law does not say that an employer must pay a bonus to employees although some Bargaining Council Agreements do. This is 'extra' money. It is usually paid out at the end of the year, for example, for good performance during the year, or for targets reached in production of goods. Bonuses should always be paid equally and fairly to employees with similar productivity - with
Bonus Pay means that payment that is linked to the achievement of Company goals as defined under subclause 15.3.
Bonus Pay means any remuneration that is in the form of money relating to productivity, performance or incentive, and for HPFT the only relevant payments for the reporting period were:
Bonus Pay means the amounts of a Participant’s bonus or incentive compensation (i) which are awarded to the Participant for a fiscal period under the AZZ Inc. Senior Management Bonus Plan; and (ii) which specifically exclude any such amounts that are (A) paid after the later of (1) 2 ½ months after Separation from Service or (2) the end of the calendar year that includes the date of Separation from Service; (B) paid to the Participant by Affiliates that are not active Participating Companies; and/or (C) paid pursuant to court order or settlement related to a lawsuit. As of the Effective Date, the fiscal period for Bonus Pay is the 12-month period beginning each March 1.
Bonus Pay means compensation in addition to Base Pay which is (i) payable pursuant to any plan, program, agreement or arrangement (excluding employee stock options or restricted stock or other rights the value of which is determined by reference to the value of the Company’s common stock); (ii) determined by reference to one or more performance measures and (iii) payable in cash.