Managers' Bonus Rate

Example Definitions of "Managers' Bonus Rate"
Managers' Bonus Rate. The average for all Managers of X/Y where X is the actual bonus paid for the year in which a termination occurs or the Reference Year, as appropriate, and Y is the target bonus for such year; but including only those Managers who were employed for the entire year; provided that if there were no Managers employed for the entire year, then the Managers' Bonus Rate shall equal the Executive's Bonus Rate
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