Partial Period Performance Bonus Obligations definition

Partial Period Performance Bonus Obligations means, for the fiscal year in which the Termination Date occurs, the Target Performance Bonus if the Termination Date occurs within the same fiscal year as the Change in Control.
Sample 1Sample 2Sample 3
Partial Period Performance Bonus Obligations means, for the fiscal year in which the Termination Date occurs, a prorated Performance Bonus for the partial-year period ending on the Termination Date. The prorated Performance Bonus shall be based on achievement of the annual financial metrics as then in effect for calculation of Executive’s Performance Bonus (for example, net earnings, revenues, or other metrics as applicable, but not including individual management objectives), multiplied by a fraction, the numerator of which is the number of days elapsed in the fiscal year prior to the Termination Date and the denominator of which is 365.
Sample 1Sample 2Sample 3
Partial Period Performance Bonus Obligations means, for the fiscal year in which the Termination Date occurs, a prorated Target Performance Bonus for the partial-year period ending on the Termination Date, based on achievement of the annual financial metric(s) as then in effect for calculation of Executive’s Performance Bonus (for example, net earnings, revenues, or other metrics as applicable, but not including individual management objectives), multiplied by a fraction, the numerator of which is the number of days elapsed in the fiscal year prior to the Termination Date and the denominator of which is 365; provided, however, in the event of a Change in Control, “Partial Period Performance Bonus Obligations” shall mean, for the fiscal year in which the Termination Date occurs, the Target Performance Bonus if the Termination Date occurs within the same fiscal year as the Change in Control.
Sample 1Sample 2

Examples of Partial Period Performance Bonus Obligations in a sentence

  • Any Accrued Base Obligations (as defined below) other than employee benefits, Accrued Performance Bonus Obligations (as defined below), Accrued Retention Bonus Obligations (as defined below), Partial Period Performance Bonus Obligations (as defined below), and Partial Period Retention Bonus Obligations (as defined below), which are payable to Executive as provided in any of Sections 4.2 through 4.6 below, shall be paid within thirty (30) days after the Termination Date.


More Definitions of Partial Period Performance Bonus Obligations

Partial Period Performance Bonus Obligations means, for the fiscal year in which the Termination Date occurs, a prorated Target Performance Bonus for the partial-year period ending on the Termination Date, based on achievement of the financial metric(s) as then in effect for calculation of Executive’s Performance Bonus for the fiscal year (for example, net earnings, revenues, or other metrics as applicable, but not including individual management objectives), multiplied by a fraction, the numerator of which is the number of days elapsed in the fiscal year prior to and including the Termination Date and the denominator of which is 365; provided, however, if there is a Change in Control and the Termination Date occurs within the same fiscal year as the Change in Control, (i) the “Partial Period Performance Bonus Obligations” shall not be less than the Minimum CIC Performance Bonus and (ii) if the financial metric(s) as then in effect for calculation of Executive’s Performance Bonus are achieved through the end of the quarter in the fiscal year in which the Change in Control occurs, as budgeted on a quarterly basis but calculated on a cumulative basis, then “Partial Period Performance Bonus Obligations” shall mean, for the fiscal year in which the Termination Date occurs, the Target Performance Bonus.
Sample 1Sample 2
Partial Period Performance Bonus Obligations means, for the fiscal year in which the Termination Date occurs, a prorated Target Performance Bonus for the partial-year period ending on the Termination Date, based on achievement of the financial metric(s) as then in effect for calculation of Executive’s Performance Bonus for the fiscal year (for example, net earnings, revenues, or other metrics as applicable, but not including individual management objectives), multiplied by a fraction, the numerator of which is the number of days elapsed in the fiscal year prior to the Termination Date and the denominator of which is 365; provided, however, if (i) there is a Change in Control and (ii) the financial metric(s) as then in effect for calculation of Executive’s Performance Bonus are achieved through the end of the quarter in the fiscal year in which the Change in Control occurs, as budgeted on a quarterly basis but calculated on a cumulative basis, then “Partial Period Performance Bonus Obligations” shall mean, for the fiscal year in which the Termination Date occurs, the Target Performance Bonus if the Termination Date occurs within the same fiscal year as the Change in Control.
Sample 1

Related to Partial Period Performance Bonus Obligations

  • Worst Performance (final means the Performance of the Basket Componentj (final) specified as follows:Performance of the Basket Componentj (final) = mini= 1, ..., N [Ki (final) / Ki (initial)]

  • 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.

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Total Performance means that the entire Work, except those items arising from the provisions of any warranty, have been performed in accordance with the Contract;

  • 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).

  • Energy Performance Score means the numeric rating generated by Portfolio Manager that compares the Energy usage of the building to that of similar buildings.

  • energy performance contracting means a contractual arrangement between the beneficiary and the provider of an energy efficiency improvement measure, verified and monitored during the whole term of the contract, where investments (work, supply or service) in that measure are paid for in relation to a contractually agreed level of energy efficiency improvement or other agreed energy performance criterion, such as financial savings;

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

  • Additional Performance Security shall have the meaning set forth in Clause 7.1;

  • 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.

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

  • Energy savings performance contract means a contract under which the rate of payments is based upon energy and operational cost savings and a stipulated maximum energy consumption level over the life of the contract.

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.

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

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

  • Control Performance Standard or “CPS” shall mean the reliability standard that sets the limits of a Balancing Authority’s Area Control Error over a specified time period.

  • 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.

  • Annual performance report means a written appraisal of the teaching staff member's performance prepared by the teaching staff member’s designated supervisor based on the evaluation rubric for his or her position.

  • 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.

  • Key Performance Indicator means a measure that captures the performance of a critical variable to expand and improve community-based corrections programs to promote offender success, ensure accountability, enhance public safety, and reduce recidivism.

  • Target Bonus means the target Bonus established for Executive, whether expressed as a percentage of Base Salary or a dollar amount.

  • 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.

  • 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.

  • 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 Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

  • Qualifying Performance Criteria means any one or more of the following performance criteria, either individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit, Parent, Subsidiary or business segment, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, and on a pre-tax or after-tax basis, in each case as specified by the Committee in the Award: (i) cash flow (including operating cash flow or free cash flow); (ii) earnings (including gross margin, earnings before interest and taxes, earnings before taxes, and net earnings); (iii) earnings per share; (iv) growth in earnings or earnings per share; (v) stock price; (vi) return on equity or average stockholders’ equity; (vii) total stockholder return; (viii) return on capital; (ix) return on assets or net assets; (x) return on investment; (xi) revenue; (xii) income or net income; (xiii) operating income or net operating income; (xiv) operating profit or net operating profit; (xv) operating margin; (xvi) return on operating revenue; (xvii) market share; (xviii) contract awards or backlog; (xix) overhead or other expense reduction; (xx) growth in stockholder value relative to the moving average of the S&P 500 Index or a peer group index; (xxi) credit rating; (xxii) strategic plan development and implementation (including individual performance objectives that relate to achievement of the Company’s or any business unit’s strategic plan); (xxiii) improvement in workforce diversity; (xxiv) expenses; (xxv) economic value added; (xxvi) product quality; (xxvii) number of customers; (xxviii) objective customer indicators; (xxix) customer satisfaction; (xxx) new product invention or innovation; (xxxi) profit after taxes; (xxxii) pre-tax profit; (xxxiii) working capital; (xxxiv) sales; (xxxv) advancement of the Company’s product pipeline; (xxxvi) consummation of strategic transactions; (xxxvii) reduction in cash utilization; and (xxxviii) addition of technologies and products. The Committee may appropriately adjust any evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occurs during a performance period: (A) asset write-downs; (B) litigation or claim judgments or settlements; (C) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (D) accruals for reorganization and restructuring programs; and (E) any gains or losses classified as extraordinary or as discontinued operations in the Company’s financial statements.