First Bonus Period definition

First Bonus Period means the period commencing on August 4, 2008 and ending on August 2, 2009. “Second Bonus Period” means the period commencing on August 3, 2009 and ending on August 1, 2010. Any Bonus payments will be prorated based on changes in Salary that may occur during the fiscal year.
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First Bonus Period means the period commencing on the Start Date and ending at the end of the fiscal quarter. “Subsequent Bonus Period” means each period commencing at the start of each fiscal quarter subsequent to the First Bonus Period and ending at the end of such fiscal quarter. Any Bonus payments will be prorated based on changes in Salary that may occur during the fiscal year.
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First Bonus Period means SenDEC’s fiscal year ending July 31, 2011.
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Examples of First Bonus Period in a sentence

  • Promptly following the execution of this Employment Agreement, the Company and the Executive will meet to establish the performance goals (the "Bonus Goals") upon which the award of the Bonus for the first year of employment pursuant to this Employment Agreement (the "First Bonus Period") will be determined.

  • Promptly following the execution of this Employment Agreement, the Company and the Executive will meet to establish the performance goals upon which the award of the Bonus for the first year of employment pursuant to this Employment Agreement (the "First Bonus Period") will be determined.

  • The Employee shall be entitled to receive such bonus for the First Bonus Period equal to (a) $0.15 for every dollar that Stealth’s Actual Pre-Tax Income for the First Bonus Period exceeds $2,400,000 but does not exceed $3,100,000, and (b) $0.25 for every dollar that Stealth’s Actual Pre-Tax Income for the First Bonus Period exceeds $3,100,000.

  • In addition to the salary described in Section 4(a) above, the Employee shall receive lump sum bonuses in respect of the period beginning on April 1, 2005 and ending on March 31, 2006 (the "First Bonus Period") and the period beginning April 1, 2006 and ending on March 31, 2007 (the "Second Bonus Period").

  • Solely with respect to the First Bonus Period, Second Bonus Period and Third Bonus Period, if at least 92% but less than 100% of the EBITDA Target is achieved in any of those Bonus Periods, then the Actual Bonus Amount for such Bonus Period shall equal the product of (x) the Maximum Bonus Amount and (y) the Participation Percentage (See Exhibit B).

  • The Participant Representative shall have twenty (20) Business Days after receipt of each of the First Bonus Period Notice, the Second Bonus Period Notice and the Third Bonus Period Notice (each an “Bonus Period Notice”), to verify Parent’s calculation of the applicable Adjusted EBITDA of the Company for the respective Bonus Plan Period and the amount of Incentive Shares required to be issued by Parent to the Bonus Plan Participants in Section 2.2(a), Section 2.2(b) and Section 2.2(c), as applicable.

  • Solely with respect to the First Bonus Period, Second Bonus Period and Third Bonus Period, if SenDEC achieves less than 92% of the EBITDA Target in any of those Bonus Periods, then no Actual Bonus Amount will be paid with respect to such Bonus Period and the Maximum Bonus Amount will be forfeited.

  • For the avoidance of any doubt, (i) if Actual Company 2016 Stub-Period Adjusted EBITDA is less than seventy-five percent (75%) of the 2016 Stub-Period Adjusted EBITDA Target, then Parent shall have no obligation to issue, and no Bonus Plan Participant shall have the right to receive, any First Bonus Period Shares, and (ii) in no event shall the First Bonus Target Period Fraction be greater than one (1.00).

  • The First Bonus Period Notice shall contain reasonably detailed data supporting the calculation of Actual Company 2016 Stub-Period Adjusted EBITDA.

Related to First Bonus Period

  • Bonus Period means the period for which a Bonus is payable. Unless otherwise specified by the Board, the Bonus Period shall be the fiscal year of the Company.

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

  • 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.

  • 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.

  • 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.

  • 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.

  • Employment Year means each twelve-month period, or part thereof, during which Employee is employed hereunder, commencing on the Commencement Date and on the same day of the subsequent calendar year and each consecutive 12 month period thereafter.

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

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Payout Period means the time frame during which certain benefits payable hereunder shall be distributed. Payments shall be made in monthly installments commencing on the first day of the month following the occurrence of the event which triggers distribution and continuing for a period of one hundred eighty (180) months. Should the Executive make a Timely Election to receive a lump sum benefit payment, the Executive's Payout Period shall be deemed to be one (1) month.

  • Award Period means the period beginning on an Award Date and ending on the expiration date of such Award.

  • 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.

  • 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.

  • 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.

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

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

  • 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.

  • Current Annual Compensation means the greater of:

  • 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.

  • Severance Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

  • 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);

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