Short-Term Bonus definition
Examples of Short-Term Bonus in a sentence
With respect to each fiscal year of the Company ending during the Term (including with respect to the fiscal year that includes the Effective Date), Employee shall be eligible to participate in the Company’s Annual Short-Term Bonus Plan or such other short-term bonus compensation plan established by the Board or a Board committee as in effect from time to time (the “Bonus Plan”).
Commencing in 2005, Employee will participate in PSB's Short-Term Bonus Program and will be eligible for other incentives that will be administered by PSB's Human Resource Committee.
For each fiscal year of the Company ending within the Term, the Executive shall be eligible to receive a Short-Term Bonus.
If the Executive's employment shall terminate by reason of his death or Disability, the Company shall pay to the Executive (or his estate or representative), in a lump sum within 90 days after the Date of Termination, the Prorated Short-Term Bonus for the fiscal year in which such termination occurs.
The Executive shall be eligible to participate in the Company's Short-Term Bonus Plan ("Annual Bonus"), with a target Annual Bonus (the "Target Bonus") of $300,000 for the bonus year until August 31, 2002, and a Target Bonus of $150,000 for the bonus year from September 1, 2002 until March 31, 2003.
A target bonus equal to 80% of base ------------ salary per year ("Target Annual Bonus") shall be payable based on the attainment by the Company of the Short-Term Bonus Plan Objectives under the Company's Executive Bonus Plan for each such year, which such Short-Term Bonus Plan Objectives shall be agreed upon by the Executive and the Company annually and shall be consistent with the Company's business plan for the relevant year.
For example, if Employee is employed for a partial year, Employee shall receive the Short-Term Bonus on a pro rata basis that considers the degree of achievement and/or satisfaction of performance criteria and targets prior to Employee's separation from service and the number of months worked divided by the total number of months in the reporting year, subject to (ii) below.
With respect to each fiscal year of the Company ending during the Term (including with respect to the fiscal year that includes the Effective Date), Employee shall be eligible to participate in the Company’s Annual Short-Term Bonus Plan or such other short‑term bonus compensation plan established by the Board or a Board committee as in effect from time to time (the “Bonus Plan”).
A target bonus of $200,000 ------------ (adjusted for inflation as determined by the Company's Compensation Committee) per year ("Target Annual Bonus") shall be payable based on the attainment by the Company of the Short-Term Bonus Plan Objectives under the Company's Executive Bonus Plan for each such year, which such Short-Term Bonus Plan Objectives shall be agreed upon by the Executive and the Company annually and shall be consistent with the Company's business plan for the relevant year.
The parties have executed and delivered this Short-Term Bonus Agreement to be effective for all purposes as of the date set forth above.