Maximum Annual Bonus definition
Examples of Maximum Annual Bonus in a sentence
Executive acknowledges and agrees that, of the total payments and benefits to which Executive would be entitled under Section 5(B) above, an amount equal to one times Executive’s annualized Base Salary, plus the Executive’s full Maximum Annual Bonus for the year in which the Termination Date occurs, shall be deemed to be paid on account of and in consideration for the covenants of Executive contained in clauses (A), (B) and (C) of this Section 7.
Upon the consummation of a change of control (as defined in the 2021 Incentive Plan), and concurrent with the payment of any consideration to any other holders of capital stock of the Company in connection with such change of control, the Executive shall be deemed to have earned the Maximum Annual Bonus (the “Change in Control Bonus”) for each fiscal year during the remainder of the Term (inclusive of partial fiscal years).
Maximum Annual Bonus" has the meaning set forth in Subsection 3b.
With respect to each fiscal year ending during the Term of ▇▇▇▇oyment, such Annual Bonus shall range from 0% to 70% of the Executive's then Base Salary (70% being the "Maximum Annual Bonus"), with a target equal to 35% of the Executive's then Base Salary (the "Target Annual Bonus"), based on both the individual performance of the Executive and the Company's performance all as determined by the Committee in its discretion.
The Executive will be a participant in the Annual Incentive Plan, and the Executive will be paid pursuant to the terms and conditions of that plan an annual benefit of up to fifty-two and one-half percent (52.5%) of the Executive's Annual Base Salary (the "Maximum Annual Bonus"), with a target of no less than thirty percent (30%) of the Executive's Annual Base Salary (the "Target Annual Bonus").