Exit Bonus definition

Exit Bonus payable to Executive (if any) shall be paid in cash and in an amount determined in accordance with this Schedule 2. Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Employment Agreement to which this Schedule is attached. As used in this Schedule 2, the following terms shall have the following meanings:
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Exit Bonus means, in the case of any Target Disposition Event that occurs while Executive is an employee of the Company, an amount (the “Calculated Amount”) equal to (i) $805,000 multiplied by (ii) a fraction the numerator of which is Target Amount and the denominator of which is three (3)1 . Notwithstanding the foregoing, (A) in no event shall the Exit Bonus exceed $805,000, (B) in no event shall the sum of the Exit Bonus and any other amounts required to be taken into account under Section 280G of the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder (the “Code”) in connection with the Change of Control exceed 299% of the Executive’s “Base Amount” as determined pursuant to Section 280G of the Code, and (C) in the case of any Target Disposition Event that occurs after the termination of Executive’s employment with the Company without Cause or by the Executive for Good Reason, the Exit Bonus shall equal an amount equal to the quotient of the Calculated Amount divided by two (2).
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Exit Bonus means either of a Trigger Event Bonus or a Partial Trigger Event Bonus.
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Examples of Exit Bonus in a sentence

  • Except for the Exit Bonus Payment and the Stay On Bonus Payments, there are no agreements or arrangements between the Seller or any company within the Group and an employee or a director of any of the companies in the Group, under which such employee or director is entitled to a bonus or any other remuneration from any Company within the Group, which is conditional upon the completion of the transaction contemplated of this Agreement.

  • Additionally, the Executive agrees and consents that, during the Benefit Continuation Period, the amount of contributions that an active employee of the Company would be required to pay for coverage elected by the Executive under the Hyatt Welfare Plans will be withheld from the Exit Bonus.


More Definitions of Exit Bonus

Exit Bonus has the meaning set forth in Section 2(b).
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Exit Bonus means the discretionary cash bonus (if any) to be paid by the Seller to any employee of a Group Company after Completion;
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Exit Bonus means any payments to be paid to the Manager by the Company in connection with a Trigger Event (as such term is defined in the Management Services Agreement).
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Exit Bonus means the "exit bonus" (including social contributions borne by the beneficiaries and by the Group Companies) which the Group Companies contemplate to pay to their employees with respect to the Closing of this Agreement; Expiry Date has the meaning set forth in Article 9.6.1(a); Fairly Disclosed has the meaning set forth in Article 7.1.2; FDA means the U.S. Food and Drug Administration and corresponding regulatory agencies in other counties and states of the United States; FDA Company Contractor means any Person with which the Company or any of its Subsidiaries formerly or presently had or has any Contract under which that person has or had physical possession of, or was obligated to develop, test, process, investigate, manufacture, or produce any FDA Regulated Product on behalf of the Company or any of its Subsidiaries; ACTIVE/99344198.6
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Related to Exit Bonus

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

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

  • Target Bonus means Executive’s annual (or annualized, as applicable) target bonus in effect immediately prior to Executive’s Qualifying Termination or, if Executive’s Qualifying Termination occurs during the Change in Control Period and the amount is greater, Executive’s annual (or annualized, if applicable) target bonus in effect immediately prior to the Change in Control.

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

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

  • 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.

  • 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.

  • 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.

  • Bonus Amount means the greater of (i) the average annual incentive bonus earned by Executive from the Company (or its affiliates) during the last three (3) completed fiscal years of the Company immediately preceding Executive’s Date of Termination (annualized in the event Executive was not employed by the Company (or its affiliates) for the whole of any such fiscal year), and (ii) the Executive’s target annual incentive bonus for the year in which the Date of Termination occurs.

  • Bonus means the bonus described in the Section 2.3.

  • Density bonus means a floor area ratio bonus over the otherwise maximum allowable density permitted under the applicable zoning ordinance and land use elements of the general plan of a city, including a charter city, city and county, or county of:

  • 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).

  • Availability Incentive Payments has the meaning set forth in the CAISO Tariff.

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • Pro Rata Bonus means an amount equal to the Bonus Amount multiplied by a fraction the numerator of which is the number of days in the fiscal year through the Termination Date and the denominator of which is 365.

  • Average Bonus means the average of the bonuses paid to Employee over the last two years (or such lesser number of years in which Employee was eligible to receive a bonus) in which the Employee was eligible to receive a bonus.

  • 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);

  • 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).

  • 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).

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • Retention Bonus means the amount equal to:

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

  • Target Annual Bonus has the meaning set forth in Subsection 3b.

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.

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