Special Bonus definition

Special Bonus means $400,000; provided, that if Executive's commission and fee revenue for the twelve (12) months ending September 30, 2010 (including commission and fee revenue from new business written or placed by or through Executive ("New Business")) is less than 90% of Executive's commission and fee revenue for the twelve (12) months ending September 30, 2009 there shall be a proportionate reduction in the Special Bonus using 90 as the denominator (e.g. if 60% of Executive's commission and fee revenue as determined September 30, 2009 is booked by the Company as of September 30, 2010, then 60/90 or two-thirds of the $400,000 Special Bonus ($266,667) shall be paid to Executive). The Special Bonus shall vest 100% in Executive (or his personal representative) on the date that Executive's employment with the Company terminates prior to September 30, 2009 as a result of death, disability or termination by the Company without Cause and be payable by the Company within thirty (30) days following death, disability or termination by the Company without Cause; provided, that such payment is subject to acceleration pursuant to Section 20.

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Special Bonus means an amount, if any, designated as such by the Committee and credited to a Participant’s Compensation Account.

Special Bonus shall have the meaning set forth in Section 4(g) below.

Examples of Special Bonus in a sentence

• The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

• The Special Bonus shall be in addition to, and not in lieu of, any Severance Payments to which Executive may otherwise become entitled under this section 10 in connection with the subsequent termination of his employment.

• The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date or, if earlier, the Date of Termination.

• Anything in this Agreement to the contrary notwithstanding, if the Executive’s employment is terminated under Section 6(d) herein prior to the first anniversary of the Effective Date, then the Company shall pay the Executive the Special Bonus as if he was employed on the first anniversary of the Effective Date.

• Following an Involuntary Separation from Service, the Corporation shall pay the Executive a lump sum payment for Special Bonus Hours, if the Executive is a participant in the Corporation’s Paid Time Off Policy (“PTO Policy”).

More Definitions of Special Bonus

Special Bonus means, with respect to the five month period ending December 31, 2007: (i) if Special Bonus Actual EBITDA for such five month period is less than eighty percent (80%) of the Special Bonus Target EBITDA for such five month period, zero; (ii) if Special Bonus Actual EBITDA for such five month period is equal to eighty percent (80%) of the Special Bonus Target EBITDA for such five month period, an amount equal to fourteen and 6/100 percent (14.6%) of the Base Salary; (iii) if Special Bonus Actual EBITDA for such five month period is more than eighty percent (80%) and less than one hundred percent (100%) of the Special Bonus Target EBITDA for such fiscal year, an amount equal to the sum of (A) fourteen and 6/100 percent (14.6%) of the Base Salary, plus (B) the product of 73/100 percent (0.73%) of the Base Salary multiplied by the number of full percentage points by which Special Bonus Actual EBITDA exceeds eighty percent (80%) of the Special Bonus Target EBITDA; and (iv) if Special Bonus Actual EBITDA for such five month period equals or exceeds one hundred percent (100%) of the Special Bonus Target EBITDA for such five month period, an amount equal to twenty nine and 17/100 percent (29.17%) of the Base Salary.

Special Bonus means a non-guaranteed amount to be declared by us at our absolute discretion pursuant to provision C.

Special Bonus has the meaning attributed to such term in section 3.4;

Special Bonus means a discretionary award granted to an Employee outside of the Annual Incentive Plan which is designated as eligible (or required) to be deferred by the Vice President – Human Resources. Only those Employees who would be eligible to participate in this Plan without regard to a Special Bonus shall be able to defer a Special Bonus under this Plan.

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

Special Bonus is defined in Section 3.4.

Special Bonus. See Section 2(b)(ii)(A).