Prorated Performance Bonus definition

Prorated Performance Bonus means the award to which the Participant would have been entitled under the Annual Incentive Program, if any, at the end of the then current performance period based on actual performance during the performance period, prorated by multiplying such award by a fraction, the numerator of which is the number of days during the performance period that the Participant is employed by the Company and the denominator of which is 365. In addition, Prorated Performance Bonus shall include any amounts to which the Participant is entitled under the Quarterly Incentive Plan upon termination of employment in accordance with the terms of such plan.
Sample 1Sample 2
Prorated Performance Bonus means the portion of the Performance Bonus, if any, that is payable with respect to a fiscal year which becomes due after a termination of this Agreement under Sections 5(c) or 9(b) hereof. The Prorated Performance Bonus will be calculated as follows: the Committee shall (a) determine the Performance Bonus to which Executive would have been entitled, had Executive been employed for the entire fiscal year, in accordance with Section 5(b)(i) hereof, (b) divide that amount by 52 to produce a Weekly Amount; and (c) multiply the Weekly Amount by the number of weeks during the relevant fiscal year that Executive was employed by GTECH.
Sample 1
Prorated Performance Bonus means an amount equal to the annual cash bonus Executive would have received for the fiscal year that ends on or immediately after the Date of Termination, based on the Company’s actual achievement of performance goals for such year prorated for the period beginning on the first day of the fiscal year in which occurs the Date of Termination through the Date of Termination, with such prorated bonus being paid at the time that cash bonuses are normally paid under the Company’s annual cash bonus plan then in effect.
Sample 1Sample 2

Examples of Prorated Performance Bonus in a sentence

  • Any Prorated Performance Bonus shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 14 days following the Date of Termination (or at such earlier date required by law).

  • The Prorated Performance Bonus shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 30 days following the Date of Termination (or at such earlier date required by law).

  • Such Prorated Performance Bonus, if any, shall be paid to Executive (or in the case of Executive’s death, Executive’s designated beneficiary) at the same time in which the Company pays bonuses for such calendar year to other Executives of the Company.

  • Such Prorated Performance Bonus, if any, shall be paid to Executive (or in the case of Executive’s death, Executive’s designated beneficiary) during the calendar year following the Bonus Plan Year at the same time at which the Company pays bonuses for such Bonus Plan Year to other Executives of the Company, subject to Section 4.5(d) hereof.

  • Payment by the Company of the Severance Payment and the Prorated Performance Bonus due to Executive pursuant to this Section 4.5(c) shall be conditioned upon Executive’s executing a release of claims in the form attached hereto as Exhibit A (the “Release”) within twenty-one days (or, to the extent required by law, forty-five days) following the Date of Termination, and not revoking such Release within seven days thereafter.

  • Any Prorated Performance Bonus shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 30 days following the Date of Termination (or at such earlier date required by law).

  • If the Executive’s employment is terminated upon the expiration of the Employment Terms, the Company shall pay to the Executive (A) any accrued, unpaid base salary payable under Section 4(a) as in effect on the Date of Termination, (B) any unreimbursed business expenses under Section 4(b), and (C) the Prorated Performance Bonus.

  • If the Executive’s employment is terminated by reason of death pursuant to Section 5(a), the Company shall pay to the Executive’s estate (i) any accrued, unpaid base salary payable under Section 4(a) as in effect on the Date of Termination, (ii) any unreimbursed business expenses under Section 4(b), and (iii) the Prorated Performance Bonus.

  • If the Executive’s employment is terminated by reason of disability pursuant to Section 5(b), the Company shall pay to the Executive (i) any accrued, unpaid base salary payable under Section 4(a) as in effect on the Date of Termination, (ii) any unreimbursed business expenses under Section 4(b), and (iii) the Prorated Performance Bonus.

  • The payment of any Performance Bonus or Prorated Performance Bonus after such termination shall be made in cash, notwithstanding the provisions of Section 5(b)(i) hereof.


More Definitions of Prorated Performance Bonus

Prorated Performance Bonus means the portion of the Performance Bonus, if any, which is payable with respect to fiscal 2003 (as provided in Section 5(b)(i)), or which becomes due after a termination of this Agreement under Sections 5(c) or 9(b) hereof. The Prorated Performance Bonus will be calculated as follows: the Committee shall (a) determine the Performance Bonus to which Executive would have been entitled, had Executive been employed for the entire fiscal year, in accordance with Section 5(b)(i) or (ii) hereof, (b) divide that amount by 52 to produce a Weekly Amount; and (c) multiply the Weekly Amount by the number of weeks during the relevant fiscal year that Executive was employed by the Company.
Sample 1
Prorated Performance Bonus means the portion of the Performance Bonus, if any, which becomes due after a termination of this Agreement under Sections 5(c) or 9(b) hereof. The Prorated Performance Bonus will be calculated as follows: the Committee shall (a) determine the Performance Bonus to which Executive would have been entitled, had Executive remained employed for the entire fiscal year, in accordance with Section 5(b)(i) hereof; (b) divide that amount by 52 to produce a Weekly Amount; and (c) multiply the Weekly Amount by the number of weeks during the relevant fiscal year that Executive was employed by the Company.
Sample 1
Prorated Performance Bonus means an amount equal to the Target Bonus that a Participant would have been eligible to receive for the calendar year in which the Change in Control occurs, multiplied by a fraction, the numerator of which is the number of days during which the Participant was employed by a Company Entity in the calendar year of the Change in Control, and the denominator of which is 365.
Sample 1

Related to Prorated Performance Bonus

  • 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.

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.

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

  • 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.

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

  • 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).

  • 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.

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

  • 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.

  • 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.

  • Density bonus means a floor area ratio bonus over the otherwise maximum allowable density permitted under the applicable zoning ordinance and land use elements of the general plan of a city, including a charter city, city and county, or county of:

  • 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 Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • 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.

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • 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;

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

  • Qualified Performance-Based Award means an Award intended to qualify for the Section 162(m) Exemption, as provided in Section 11.

  • 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.

  • 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.

  • Qualified Performance-Based Compensation means any compensation that is intended to qualify as “qualified performance-based compensation” as described in Section 162(m)(4)(C) of the Code.

  • 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.

  • 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.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • 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;

  • Retention Bonus means an incentive bonus provided under