Special Bonus definition
Special Bonus means an amount, if any, designated as such by the Committee and credited to a Participant’s Compensation Account.
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.
Special Bonus means a bonus, other than a bonus payable under the MIP, that is payable to an Eligible Officer with respect to services rendered or to be rendered for an Employer and that is eligible for deferral under the Plan either because (1) the bonus is payable pursuant to an offer letter accepted in writing by the Eligible Officer before commencement of employment and that specifically refers to the deferability of the bonus by explicit reference to this Plan or (2) the bonus is eligible for deferral in accordance with guidelines established by the Committee, or by an officer to whom the Committee has delegated authority to establish such guidelines, and the bonus requires as a condition of receipt of the bonus and to avoid forfeiture of the bonus that the recipient continue to perform services for the Employer for a period of at least thirteen (13) months after the date he or she obtains the legally binding right to the bonus.
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.
Any such Special Bonus will not exceed 200% of the Executive Officer’s annual base salary.
This Agreement, together with the Option Agreements (to the extent not expressly amended hereby) and the applicable Plan under which each Option is outstanding, represents the entire agreement of the parties with respect to the Options, the Covered Portions thereof and the Special Bonus and supersedes any and all previous contracts, arrangements or understandings between the parties with respect to such Options and the Special Bonus.
A Special Bonus can be paid, in whole or in part, in equity in lieu of cash and the value of any such equity component of a Special Bonus shall be determined in accordance with Section 13.3 below.
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.
More Definitions of Special Bonus
Special Bonus shall have the meaning set forth in Section 4(g) below.
Special Bonus means a non-guaranteed amount to be declared by us at our absolute discretion pursuant to provision C.
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 has the meaning attributed to such term in section 3.4;
Special Bonus means any bonus payable to a Participant pursuant to the terms of the Participant’s initial offer letter of employment which is dated on or after January 1, 2008. To constitute a Special Bonus hereunder, the offer letter must specifically refer to the deferability of the bonus by explicit reference to this Plan and the offer letter and deferral election must be accepted and elected in writing by the Eligible Officer before his or her commencement of employment.
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 2.3.3.