Profit Sharing Bonus definition
Examples of Profit Sharing Bonus in a sentence
Upon such a termination for Cause, the Executive shall be entitled to any accrued but unpaid Base Salary, any earned but unpaid Bonus and Profit Sharing Bonus for the fiscal year which ended prior to the Termination Date, any accrued but unused vacation, and any unreimbursed expenses through the Termination Date.
In addition, the Executive shall be eligible to participate in the annual profit sharing bonus program that is available to all employees of the Bank (the "Profit Sharing Bonus").
Upon the Executive's termination due to death or Disability, the Executive, or his estate in the case of his death, shall be entitled to any earned but unpaid Base Salary, any accrued but unused vacation, any earned but unpaid Bonus and/or Profit Sharing Bonus for the fiscal year which ended prior to the Termination Date, and unreimbursed expenses through the Termination Date.
Executive shall also be entitled to: (i) benefits under ▇▇▇▇▇▇▇'▇ generally applicable welfare and retirement plans, in accordance with the respective terms of such plans; and (ii) Executive's rights under the 2005 Profit Sharing Bonus Plan, the Supplemental Employee Retirement Plan, the 1996 Director Stock Compensation and Option Plan, the 1996 Stock Incentive Program, the 2003 Stock Plan, and any other equity or incentive plan, in accordance with the respective terms of those plans.
Upon the Executive’s termination due to death or Disability, the Executive, or his estate in the case of his death, shall be entitled to any earned but unpaid Base Salary, any accrued but unused vacation, any earned but unpaid Bonus and/or Profit Sharing Bonus for the fiscal year which ended prior to the Termination Date, and unreimbursed expenses through the Termination Date.
Awards will be based on the terms and conditions of the Profit Sharing Bonus Plan, but will be made at the sole and complete discretion of the Board’s independent Compensation Committee.
Not later than March 1, 2015, any CSI Employee still employed by the Company or an Affiliate of the Purchaser as of December 31, 2014 shall receive from the Company or one of its Affiliates a payment calculated by annualizing the amount set forth on the Profit Sharing Bonus Accrual Schedule (defined below) across from such CSI Employee’s name and pro rating such amount for the period beginning on the Closing Date to and ending on December 31, 2014.
Executive shall not be entitled to any Profit Sharing Bonus for the year in which the termination occurs or any subsequent year.
Executive shall also be entitled to: (i) benefits under ▇▇▇▇▇▇▇’▇ generally applicable welfare and retirement plans, in accordance with the respective terms of such plans; and (ii) Executive’s rights under the Profit Sharing Bonus Plan, the Supplemental Employee Retirement Plan, 2014 Stock Option and Incentive Plan, and any other equity or incentive plan, in accordance with the respective terms of those plans.
The Executive shall be entitled to severance pay in an amount equal to twenty-four (24) months of the Executive's Base Salary, target Bonus and Profit Sharing Bonus based on his current Base Salary at the Termination Date.