Target Bonus Opportunity definition

Target Bonus Opportunity means the annual target bonus opportunity that would have been granted to Executive with respect to the next fiscal year beginning after his date of termination, had his employment continued with Company, and assuming Executive’s target bonus in that future fiscal year was equal to his target bonus percentage for the fiscal year in which Executive’s date of termination occurs.

Target Bonus Opportunity means, with respect to each Eligible Employee, a target bonus expressed as a percentage of his or her annual base salary, which is intended as an approximation of the bonus payment that would be paid if aggressive performance goals and other expectations are met by both the Eligible Employee and the business segment or unit he or she is employed by. The Target Bonus Opportunity for each Eligible Employee shall be periodically established (i) by senior management of the applicable business segment or unit and (ii) by the Committee, in the case of certain Senior Executives designated by the Committee (subject to applicable employment agreements).

Target Bonus Opportunity means: (i) subject to the limitation contained in Section 3(s)(ii) below, the maximum bonus available to Employee under any annual bonus program offered by the Company during the year in which the Triggering Event occurs, or if no such bonus is available to Employee in such year, the maximum bonus available to Employee under any annual bonus program offered by the Company during the last year prior to the year in which the Triggering Event occurs for which Employee had a bonus opportunity (subject to further increase as described in Section 3(s)(iii) below). (ii) if the maximum bonus available under any such annual bonus program described under Section 3(s)(i) is indeterminable or otherwise unlimited, the Target Bonus Opportunity for such program shall be limited to 100% of Employee’s Base Compensation (subject to further increase as described in Section 3(s)(iii) below). (iii) in the event Employee (if he is also the Vice President of Worldwide Sales) is entitled to receive payments pursuant to a sales commission plan at the time the Triggering Event occurs, the “Target Bonus Opportunity” calculated pursuant to Section 3(s)(i) shall be increased by the maximum sales commission payable to Employee under any sales commission plan offered by the Company during the year in which the Triggering Event occurs, or if no such commission is available to Employee in such year, the maximum sales commission available to Employee under any sales commission plan offered by the Company during the last year prior to the year in which the Triggering Event occurs for which Employee had a commission opportunity; provided, however, that if the maximum sales commission available under any such sales commission plan is indeterminable or otherwise unlimited, the “Target Bonus Opportunity” calculated pursuant to Section 3(s)(i) or 3(s)(ii) shall be increased by 75% of Employee’s Base Compensation, representing the contribution of the sales commission plan to the Target Bonus Opportunity.

Examples of Target Bonus Opportunity in a sentence

• Accordingly, if the definition of Target Bonus Opportunity would cause a bonus granted to Executive under Company’s annual incentive compensation plan to not meet the requirements of Section 162(m), such definition shall be modified or deleted, as necessary, as determined in good faith by the Committee, to comply with Section 162(m).

• The Target Bonus Opportunity will be adjusted annually to be in alignment with Company goals.

• The Company shall also provide Executive with compensation on an hourly basis (to be derived from the sum of his Base Salary and Target Bonus Opportunity) for requested litigation and regulatory cooperation that occurs after his termination of employment, and reimburse Executive for all costs and expenses incurred in connection with his performance under this Paragraph 15, including, but not limited to, reasonable attorneys’ fees and costs.

• The Company shall also provide Executive with compensation on an hourly basis (to be derived from the sum of his Base Compensation and Target Bonus Opportunity) for requested litigation and regulatory cooperation that occurs after his termination of employment, and reimburse Executive for all costs and expenses incurred in connection with his performance under this Paragraph 12, including, but not limited to, reasonable attorneys’ fees and costs.

• In the event of a Termination of Employment described above, and subject to the last sentence of this paragraph, BPLSC shall pay to Employee, within fifteen days after the Termination Date, an amount in cash, payable in a lump sum, equal to Employee’s Annual Base Compensation plus Employee’s Annual Target Bonus Opportunity for such year.

More Definitions of Target Bonus Opportunity

Target Bonus Opportunity means the percentage of Base Salary that has been set by the Company’s Compensation Committee as the target level of achievement for Executive in the Company’s annual short-term bonus or other similar plan that affords the Executive the opportunity to achieve an annual bonus on account of performance against certain goals for a given fiscal year.

Target Bonus Opportunity means: (i) subject to the limitation contained in Section 3(s)(ii) below, the maximum bonus available to Employee under any bonus program offered by the Company during the year in which the Triggering Event occurs, or if no such bonus is available to Employee in such year, the maximum bonus available to Employee under any bonus program offered by the Company during the last year prior to the year in which the Triggering Event occurs in which Employee had a bonus opportunity. (ii) Notwithstanding Section 3(s)(i) above, if the maximum bonus available under any such bonus program described under Section 3(s)(i) is indeterminable or otherwise unlimited, the Target Bonus Opportunity shall be limited to 100% of Employee’s Base Compensation.

Target Bonus Opportunity means, for any given year, the amount set by the Board as the target bonus opportunity for the Executive.

Target Bonus Opportunity means the applicable Eligible Officer’s target bonus opportunity, as provided under the SLM Corporation Annual Incentive Plan (or such other similar plan under which the Eligible Officer participates), with such amount to be determined (x) for Executive Officers, by the Committee and set forth in the Corporation’s Annual Incentive Plan, as in effect as of the Termination Date and (y) for all other Eligible Officers, by the Chief People Officer and/or appropriate supervisors/managers, as applicable, subject to the approval of the Compensation Committee (or such other committee as designated by the Board of Directors or the Compensation Committee).

Target Bonus Opportunity means an amount (specified as such or determined pursuant to a formula) and denominated in local currency that a Participant potentially may earn as a Bonus Award in respect of a specified Performance Year at the targeted level of Performance. A Target Bonus Opportunity constitutes only a conditional right to receive a Bonus Award and does not guarantee receipt of a Bonus Award or any level of Bonus Award based on Performance or otherwise.

Target Bonus Opportunity means the higher of (i) Employee’s target bonus opportunity under the Company’s annual bonus program applicable to Employee as in effect immediately prior to the Change of Control, provided that if no target bonus opportunity has been established for the year in which the Change of Control occurs, as in effect for the year immediately preceding the year in which the Change of Control occurs, or (ii) Employee’s target bonus opportunity under the annual bonus program applicable to Employee as in effect at any time after the Change in Control.

Target Bonus Opportunity means the percentage of a Participant’s Base Salary, or predetermined dollar amount, that may be awarded to a Participant upon attainment of the requisite level of performance with respect to a Performance Measure specified for Target Performance during a Performance Period.