Capped Bonus Award

Example Definitions of "Capped Bonus Award"
Capped Bonus Award. When used in respect of a fiscal year, shall mean a cash amount equal to the lesser of (x) the Executive's Target Bonus for such year (determined as if the Executive's employment hereunder had continued indefinitely) and (y) the Executive's Bonus Award for such year (determined in good faith, and without any exercise of negative discretion [at the time of the determination that is not also applied in equal percentage amounts across-the-board to the bonuses payable to the Company's other senior... executives], as if the Executive's employment hereunder had continued indefinitely), which cash amount shall be paid promptly after being determined and in no event later than the date that corresponding bonuses are paid to senior executives of the Company generally. View More
Capped Bonus Award. The lesser of the annual Target Bonus or actual performance for such fiscal year in accordance with the then existing terms of the STIP, which shall not be payable until the Compensation Committee has determined that any incentive targets have been achieved and the subsequent designated payout date has arrived
All Definitions