Eligible Bonus

Eligible Bonus. Means, with respect to a Participant, the average of the annual performance bonuses received by the Participant from the Company for the three (3) calendar years ending immediately before or coincident with the effective date of the Change in Control (or such lesser number of calendar years that the Participant was employed by the Company during the relevant period). For clarity, if a Participant was eligible but did not receive a performance bonus for a particular year, a bonus of zero for... such year will be taken into account. If a Participant was not eligible for a performance bonus in any year under consideration, that year will not be included in the calculation. If the Participant was hired in the year of a Qualifying Termination (and has not received a performance bonus), his Eligible Bonus will be equal to his target annual bonus opportunity. View More