Retirement Bonus definition

Retirement Bonus means an amount equal to the portion of Executive’s unvested account balance in the EXCO Resources, Inc. 401(k) Plan (or any successor plan thereto) that is forfeited upon Executive’s Separation from Service.
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Retirement Bonus. = employee’s BPR salary cell x 25%
Sample 1

Examples of Retirement Bonus in a sentence

  • Several factors are used to calculate the payment to you and include:• Your account balance over the 12-months period preceding your account opening date.• The investment option/s you were invested in during that period.• Any investment option switches you made during that period and the amount/s involved.• legalsuper’s tax position during this time.You can obtain a quote for the Retirement Bonus amount applicable to you at any time using the functionality available in MemberAccess.

  • If you have received the Bonus payment, then closed and re-opened a second Pension account, you will not receive another payment.How and when will you receive the Retirement Bonus?The Retirement Bonus will be paid to you the same day that you open a Pension account.

  • These accounts are not eligible as they are not tax-free accounts.• You have not previously received a Retirement Bonus.

  • Eligible employees electing this option will be designated by their seniority for a Special Retirement Bonus.

  • You do not need to apply for the Bonus; it will be calculated and paid to you automatically.The Retirement Bonus amount will be listed in your account online as well as in any periodical member statements you receive after your account is opened.How much Retirement Bonus will you receive?The Retirement Bonus is based on your individual circumstances, so every eligible member will receive a different amount.

  • The Retirement Bonus is a bonus payment that you could be eligible to receive when you transfer or move your investment balance from a legalsuper Superannuation account (accumulation phase) to a legalsuper Pension account (retirement phase).The Retirement Bonus represents a tax saving.

  • The Administrative Officer role will provide opportunities for an exciting and wide-ranging career, including possibilities to progress to senior management in the Civil Service, and help influence how the State functions for its citizens.

  • Employees who retire under the Kent County Retirement Plan (other than a deferred retirement) will receive pension service credit for all hours in their Retirement Bonus Bank at the time of retirement.

  • An hourly rated or nonexempt salaried employee who is age sixty (60) or older with fifteen (15) or more years of continuous service and is assigned to a job classification which the Company has announced is expected to be directly adversely affected by a transfer of work, the discontinuance of a discrete, unreplaced product line, the introduction of a robot, or the introduction of an automated manufacturing or office machine may elect to be considered for termination with a Special Retirement Bonus.

  • The Retirement Bonus shall be paid as such and shall not become part of the employee’s salary for retirement purposes.

Related to Retirement Bonus

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

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

  • Basic Compensation means Salary and Benefits.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • 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.

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

  • Retirement Benefit means the benefit set forth in Article 5.

  • Bonus means the bonus described in the Section 2.3.

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Final compensation of a member means:

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • 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 any distributions per Unit of that Class during the Performance Bonus Term exceeds $28.00.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

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

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Retention Bonus means an incentive bonus provided under

  • SERP Benefit means the benefit described in Section 5.1.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Target Bonus means Executive’s annual (or annualized, as applicable) target bonus in effect immediately prior to Executive’s Qualifying Termination or, if Executive’s Qualifying Termination occurs during the Change in Control Period and the amount is greater, Executive’s annual (or annualized, if applicable) target bonus in effect immediately prior to the Change in Control.