Initial Bonus Period definition

Initial Bonus Period means the period commencing on the Effective Date and ending on the earlier of (A) the first material modification of such bonus plan(s) (within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended (the "Code") and the regulations issued thereunder), (B) the expiration of such bonus plan(s), (C) the first meeting of stockholders at which members of the Board are to be elected that occurs after the close of the third calendar year following the calendar year in which occurred the first registration of an equity security of the Company under Section 12 of the Securities Exchange Act of 1934 (the "Exchange Act"), or (D) such other date required by Section 162(m) of the Code and the rules and regulations promulgated thereunder.

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Initial Bonus Period means the period commencing on the Effective Date and ending on the earlier of (i) the first material modification of such bonus plan(s) (within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations issued thereunder), (ii) the expiration of such bonus plan(s), (iii) the first meeting of stockholders at which members of the Board of Directors of the REIT (the “Board”) are to be elected that occurs after the close of the third calendar year following the calendar year in which the closing of the IPO occurs, or (iv) such other date required by Section 162(m) of the Code and the rules and regulations promulgated thereunder.

Initial Bonus Period has the meaning set forth in Section 7.3(a).

Examples of Initial Bonus Period in a sentence

• Executive's Performance Bonus Distribution in an amount of up to twenty percent (20%) of Executive's Base Compensation for the Initial Bonus Period or for any given subsequent calendar year shall be determined at the sole discretion of the Board or the Committee based upon achievement of such corporate or individual performance goals and objectives as may be established or determined by the Board or the Committee from time to time.

• Prior to issuance of the final audited financial statements for the Initial Bonus Period or for each calendar year thereafter, as applicable, Executive shall have the right to review and approve or challenge any calculation or determination of the amount of the Performance Bonus Distribution distributable for the Initial Bonus Period or for such subsequent calendar year, as applicable.

• Notwithstanding the foregoing, the initial bonus period (the "Initial Bonus Period") shall be the period starting with the Bonus Starting Date and ending on December 31, 1999, and the Company shall use its budget for that period (a copy of which the Company has provided to the Executive) to determine the eligibility for a bonus, and then apply the applicable bonus percentage to that portion of the annual Base Salary thereafter.

• The Employee's second bonus period shall be the period beginning on July 1, 2000 and ending with the last day of the Company's fiscal year, and the Company shall prepare a budget for that period and determine the Employee's eligibility for a bonus in the manner described for the Initial Bonus Period.

• Notwithstanding the foregoing, the Employee's initial bonus period (the "Initial Bonus Period") shall be the period starting with the Bonus Starting Date and ending on fiscal year ended June 30, 2000, and the Company shall use its budget for that period (a copy of which the Company has provided to the Employee) to determine the Employee's eligibility for a bonus, and then apply the applicable bonus percentage to that portion of the Employee's annual Salary that relates to the Initial Bonus Period.

• The targets with respect to the bonus for each annual period following the Initial Bonus Period shall be mutually agreed upon at the beginning of each calendar year by the Executive and the Compensation Committee of the Board of Directors.

• Subsequent bonus periods shall begin on each January 1, thereafter and end with the last day of the Company's fiscal year, and the Company shall prepare a budget for that period and determine the Executive's eligibility for a bonus in the manner described for the Initial Bonus Period.

• If Actual EPS is equal to or greater than 90% of Plan EPS but than less 120% of Plan EPS, then a pro rata adjustment shall be made to the Performance Bonus Distribution to which Executive is entitled under this Section 3(b)(i) for the Initial Bonus Period or for such subsequent calendar year.

• Notwithstanding the foregoing, the Employee's initial bonus period (the "Initial Bonus Period") shall be the period starting with October 1, 1996, and ending September 30, 1997, and Tufco shall use its budget for that period to determine the Employee's eligibility for a bonus, and then apply the applicable bonus percentage to that portion of the Employee's annual Salary that relates to the Initial Bonus Period.

• If Actual EPS is 120% or more of Plan EPS, Executive shall be entitled to a Performance Bonus Distribution under this Section 3(b)(i) equal to 60% of Executive's Base Compensation for the Initial Bonus Period or for such subsequent calendar year.

More Definitions of Initial Bonus Period

Initial Bonus Period means the period commencing on the Effective Date and ending on the earlier of (i) the first material modification of such bonus plan(s) (within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations issued thereunder), (ii) the expiration of such bonus plan(s), (iii) the first meeting of stockholders at which members of the Board are to be elected that occurs after the close of the third calendar year following the calendar year in which the closing of the IPO occurs, or (iv) such other date required by Section 162(m) of the Code and the rules and regulations promulgated thereunder.