Deferral Bonus definition

Deferral Bonus means an award pursuant to Section 3.2 of the Plan.
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Deferral Bonus is an amount that is applied to your Income Base on each Contract Anniversary until you make a withdrawal. Once any withdrawal (including a Guaranteed Annual Payment Amount) is made, you are no longer eligible to receive a Deferral Bonus in that or any subsequent Contract Year. The Deferral Bonus is determined as follows: For the first Contract Year, the Deferral Bonus will be [6%] of Contributions received in the first [90 days]. For Contract Years after the first, the Deferral Bonus will be [6%] of your total Contributions, except Contributions made in the immediately preceding [twelve months]. If your Income Base has been increased because of an Annual Step-Up, any Deferral Bonus applicable in the following years will be [6%] of the sum of the adjusted Income Base plus any Contributions received after the Income Base adjustment except Contributions made during the [twelve months] immediately preceding the Contract Date Anniversary on which the Deferral Bonus is to be applied. In a Contract Year in which the Deferral Bonus is applicable, we will, on the Contract Date Anniversary, compare:
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Deferral Bonus means an amount equal to [6%] of your total Contributions, excluding Contributions made in the immediately preceding [twelve months] that is applied as described below. For the first Contract Year, Contributions received in the first [90 days] will be used to determine the Deferral Bonus. If your Benefit Base has been increased because of an Annual Ratchet or decreased because of an Excess Withdrawal, the Deferral Bonus will instead be [6%] of the sum of the adjusted Benefit Base plus any Contributions received after the Benefit Base adjustment excluding Contributions made during the [twelve months] preceding the Contract Date Anniversary on which the Deferral Bonus is to be applied.
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Examples of Deferral Bonus in a sentence

  • On each Contract Anniversary during the effective Bonus Period, We may apply a Deferral Bonus to Your Payment Base.

  • The Deferral Bonus percentage will not change during the effective Bonus Period.

  • SUBSEQUENT PREMIUM PAYMENTS Your Withdrawal Base, Anniversary Withdrawal Base and Deferral Bonus Base may be increased by the dollar amount of a subsequent Premium Payment.

  • Partial Withdrawals which are not Excess Withdrawals do not reduce Your Withdrawal Base, Anniversary Withdrawal Base and Deferral Bonus Base.

  • The Deferral Bonus Base will not increase if the Deferral Bonus Period has ended.

  • Excess Withdrawals reduce Your prior Valuation Day Withdrawal Base, Deferral Bonus Base and Anniversary Withdrawal Base values used in determining these values for the current Valuation Day by multiplying each by the following factor: Factor = (A/B) where: A = The Contract Value immediately after the Excess Withdrawal; and B = Contract Value (less any Withdrawal that is not an Excess Withdrawal) immediately prior to the Excess Withdrawal.

  • The Deferral Bonus will equal [5%] of the Bonus Base, as of the Valuation Day prior to each Contract Anniversary during the effective Bonus Period.

  • The Deferral Bonus will equal [6%] of the Bonus Base, as of the Valuation Day prior to each Contract Anniversary during the effective Bonus Period.

  • Your Deferral Bonus Base is calculated without deduction for sales charges, if any.

  • If You elect this rider after the Contract Issue Date, then Your initial Deferral Bonus Base is Your Contract Value as of the Rider Effective Date.

Related to Deferral Bonus

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • 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).

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • 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.

  • Bonus means the bonus described in the Section 2.3.

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

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Deferred Compensation Award means an award of Stock Units granted to a Participant pursuant to Section 11 of the Plan.

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

  • Incentive Compensation Awards means awards granted under Incentive Compensation Plans providing the Executive with the opportunity to earn, on a year‑by‑year basis, annual and long‑term incentive compensation.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

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

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • 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.

  • Basic Compensation means Salary and Benefits.

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

  • Eligible Compensation means (i) for eligible exempt employees, such employee’s base salary at the time the Bonus or Spot Bonus is determined (prorated for time in an eligible position), and (ii) for eligible non-exempt and non-union hourly employees, such employees’ eligible wages for the applicable year as determined by the Company to be required by law.