Unit Performance Bonus definition

Unit Performance Bonus means, with respect to each Unit, the bonus payable to an Employee based on the performance of such Employee's Unit, as set forth in Section 3.2.
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Examples of Unit Performance Bonus in a sentence

  • Even Judge Easterbrook in ProCD had said that contract law, unlike copyright law, is not a right against the world, saying that if someone picked up the software on the street they would not be bound to the terms of the EULA.63Judge Ware’s ambivalence of method left the reader confused whether he was basing the liability of the reseller on contract or copyright principles.

  • In her direct testimony, Staff witness Pearce proposed to reduce CILCO’s test year compensation paid to energy delivery management, office and technical employees by amounts paid under the Energy Delivery Business Unit Performance Bonus Plan, also known as an incentive compensation plan.

  • Prior to the payment of any Unit Performance Bonus to an Employee whose compensation is subject to the limitation imposed by Section 162(m) of the Code, the Compensation Committee shall certify in writing that the applicable Unit Performance Percentage has been attained and shall take any other action required in order to qualify for the exemption from the deduction limitation provided by Section 162(m) of the Code.

  • The Compensation Committee may, in its sole discretion, adjust the Unit Performance Percentage of any Unit to reflect changed circumstances or such other matters as the Compensation Committee deems appropriate, provided that no such change shall result in any increase in the amount of the Unit Performance Bonus payable to an Employee whose compensation is subject to the limitation on the deductibility of compensation pursuant to Section 162(m) of the Code.

  • Terminated Eligible Employees shall be eligible to receive a Unit Performance Bonus based upon the actual year end Earnings Per Share Factor and the Unit Performance Percentage for the applicable Unit calculated through the end of the calendar quarter during which the Employee's termination of employment with the Company and/or all Participating Employers occurred.

  • Terminated Eligible Employees shall be ----------------------------- eligible to receive a Unit Performance Bonus based upon the actual year end Earnings Per Share Factor and the Unit Performance Percentage for the applicable Unit calculated through the end of the calendar quarter during which the Employee's termination of employment with the Company and/or all Participating Employers occurred.

  • If the Unit Performance Percentage of a Unit is 85% or more, a Unit Performance Bonus will be payable, with such Unit Performance Bonus determined by multiplying the applicable Target Performance Level set forth in the Tables in Section 3.2 below by the applicable percentage set forth in the following Schedule and multiplying the Employee's Salary by the resulting percentage.

  • In the event of a Change of Control, each eligible Employee (including Terminated Eligible Employees who terminate employment during the Plan Year in which the Change of Control occurs) shall become entitled to the payment of a Unit Performance Bonus, a Personal Performance Bonus and a Team Performance Bonus in accordance with the provisions of this Article.

  • The maximum Unit Performance Bonus that may be paid with respect to any Plan Year to an Employee whose compensation is subject to the deduction limitation of Section 162(m) of the Code shall be $3 million.

  • The Business Unit Performance Bonus Funding Percentage may range from 0% to 120%.

Related to Unit 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.

  • 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.

  • 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.

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

  • 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.

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

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

  • 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).

  • 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.

  • 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);

  • Cash Incentive Award means a cash award granted pursuant to Section 8 of this Plan.

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

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

  • Performance Cash Award means an award of cash granted pursuant to the terms and conditions of Section 6(c)(ii).

  • 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 Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • Annual Award means the cash payment paid or payable to the Executive with respect to a fiscal year under the Corporation's Incentive Compensation Performance Plan.

  • Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • Bonus means the bonus described in the Section 2.3.

  • 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.

  • 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.

  • Target Award means the target award, at 100% of target level performance achievement, payable under the Plan to a Participant for the Performance Period, as determined by the Committee in accordance with Section 3(b).

  • Performance Award Formula means, for any Performance Award, a formula or table established by the Committee pursuant to Section 10.3 which provides the basis for computing the value of a Performance Award at one or more levels of attainment of the applicable Performance Goal(s) measured as of the end of the applicable Performance Period.

  • 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).

  • 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.