Pro Rata Bonus Amount as used in Section 9, means an amount equal to a “portion” of the highest cash bonus paid to the Executive in the three calendar years immediately prior to the Change in Control. The “portion” of such cash bonus shall be a fraction, the numerator of which is the number of calendar months or part thereof which the Executive has worked in the calendar year in which the termination occurs and the denominator of which is 12.
Pro Rata Bonus Amount means an amount equal to the annual bonus paid to the Executive for the year prior to the year in which the Executive's employment is terminated, multiplied by a fraction, the numerator of which is the number of days elapsed from the beginning of the bonus period through and including the Termination Date, and the denominator of which is 365.
Pro Rata Bonus Amount means one-twenty-fourth (1/24th) of the greater of (a) the most recent annual cash bonus paid to the Employee prior to the date of his termination, or (b) the average of the three most recent annual cash bonuses paid to the Employee prior to the date of his termination. The rights of the Employee and the obligations of the Company under this Section 10(b) shall remain in full force and effect notwithstanding the expiration of the Employment Period, whether by failure of the Compensation Committee to extend such period or otherwise. (c)
Examples of Pro Rata Bonus Amount in a sentence
The Company shall pay Executive the Pro Rata Bonus Amount, notwithstanding any provision of the applicable Annual Bonus plan requiring employment through a particular date as a condition of payment.
More Definitions of Pro Rata Bonus Amount
Pro Rata Bonus Amount means one-twelfth (1/12th) of the greater of (A) the most recent annual cash bonus paid to Executive prior to the date of his termination, or (B) the average of the three most recent annual cash bonuses paid to Executive prior to the date of his termination. The rights of Executive and the obligations of the Company under this Section 7(c) shall remain in full force and effect notwithstanding the expiration of the Term, whether by failure of the Board to extend such Term or otherwise, and the failure of the Board to extend such Term shall be deemed a Termination Without Cause under this Section 7(c).
Pro Rata Bonus Amount has the meaning accorded such term in Section 3.03.
Pro Rata Bonus Amount means one twenty-fourth (1/24) of (x) the portion of the Executive’s annual bonus, as determined by the Compensation Committee, applicable to that portion of the year arising prior to termination of this Agreement in the year in which such Termination Without Cause occurs, plus the greater of (y) the most recent annual cash bonus paid to the Executive prior to the date of his termination or (z) the average of the three most recent annual cash bonuses paid to the Executive prior to the date of his termination.
Pro Rata Bonus Amount means for each Continuing Employee who participated in the USAA Corporate Bonus Plan immediately prior to the Closing that is not otherwise a Retiree Eligible Employee, an amount equal to the target annual incentive bonus applicable to such Continuing Employee for the calendar year in which Closing occurs multiplied by a fraction, the numerator of which is the number of days during such calendar year preceding the Closing Date and the denominator of which is three hundred sixty-five (365).
Pro Rata Bonus Amount means the amount obtained by multiplying (i) what Executive would have received in Annual Bonus payment, if any, for the fiscal year of his termination had he remained employed until the date such Annual Bonus would ordinarily be paid under the applicable Annual Bonus plan terms by (ii) the amount obtained by dividing (x) the total number of full calendar days during the fiscal year in which the applicable termination occurred during which Executive was employed by the Company prior to such termination by (y) the total number of calendar days during such fiscal year; provided, however, that if Executive has worked fewer than three calendar months of the fiscal year at the time of the termination, the Pro Rata Bonus Amount shall be zero.
Pro Rata Bonus Amount means a cash amount determined by multiplying Executive’s target Bonus, if any, for the year in which a termination of employment occurs by a fraction, the numerator of which is the elapsed number of days in such year through such termination date, and the denominator of which is 365.
Pro Rata Bonus Amount means an amount equal to $950,000.