Deferred Bonus Plan definition
Examples of Deferred Bonus Plan in a sentence
The terms and conditions of "Farmers & Merchants Bank of Central California Amended and Restated Deferred Bonus Plan" are set forth in a separate agreement, the contents of which are incorporated herein by this reference as though set forth in their entirety.
An amount equal to Employee’s average bonus paid under the Company’s Annual Incentive Plan or a successor thereto during the Company’s three most recently completed fiscal years, determined net of any deferral under the Deferred Bonus Plan, multiplied by a fraction (i) the numerator of which is the number of days of Employee’s service during the fiscal year in which Employee’s Termination Date occurs, and (ii) the denominator of which is 365.
Employee shall be entitled to participate in the Employer's Deferred Bonus Plan at a bonus factor (as defined in the Plan documents).
The average of his or her annual bonus payable under the Company’s Annual Incentive Plan or a successor thereto, before any deferral under the Company’s Deferred Bonus Plan, during the Company’s three most recently completed fiscal years or such shorter period as Employee has been employed by the Company; such amount shall be paid in the form of a single-sum 30 days following Employee’s Termination Date or the first business day thereafter.
The Deferred Bonus shall be paid to a Rabbi Trust account in the Executive’s name and shall be paid in accordance with the Company’s Deferred Bonus Plan notwithstanding any termination of the Executive’s employment or other such event and, for the avoidance of doubt, shall be fully vested and not subject to forfeiture.