Pensionable Bonus definition
Pensionable Bonus means the portion of Annual Incentive Bonus which is used under the defined benefit pension plan and the supplemental benefit pension plan to determine final or best average earnings;
Pensionable Bonus for a calendar year, means:
Pensionable Bonus any bonus awarded to you in any year which ▇▇▇▇▇ has declared to be pensionable and also which you have elected to be pensionable at the time the first such bonus is awarded to you. The Pensionable Bonus cannot exceed in any one year 10 per cent. of the average of your Basic Pay for ▇▇▇▇▇' financial year ending immediately before the Pensionable Bonus is awarded. Pensionable Employment: the period from the date your employment with ▇▇▇▇▇ started (or such other date as may be notified to you in writing) until the Termination Date.
Examples of Pensionable Bonus in a sentence
In addition, the Corporation agrees that the portion of the Annual Incentive Bonus used in calculating Pensionable Bonus for all years of credited service shall not be less than 50% of Annual Incentive Bonus for each applicable year.