Common use of Annual Bonus Clause in Contracts

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average bonus paid or payable, including by reason of deferral, to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 20 contracts

Samples: Retention Agreement (Nashua Corp), Change of Control and Severance Agreement (Nashua Corp), Change of Control and Severance Agreement (Nashua Corp)

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Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for in respect of each fiscal year beginning or of the Company ending during the Employment PeriodTerm, an annual bonus (the "Annual Bonus") in cash in an amount at least equal to the average Executive’s highest aggregate bonus paid or payable, including by reason of deferral, to the Executive by the under all Company and its affiliated companies company bonus plans, programs, arrangements and awards (including the Company’s Short-Term Incentive Plan and any successor plan) in respect of the three fiscal years immediately preceding the any fiscal year in which the three full fiscal year period ended immediately prior to the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve 12 full months or with respect to which the Executive has been employed by the Company or any of its affiliated companies for less than twelve 12 full months) (such highest amount is hereinafter referred to as the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for in respect of which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 11 contracts

Samples: Employment Agreement (Paragon Offshore PLC), Employment Agreement (Noble Corp PLC), Employment Agreement (Noble Corp PLC)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average annualized (for any fiscal year consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) bonus paid or payable, including by reason of any deferral, to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) (the "Recent Annual Average Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 10 contracts

Samples: Employment Agreement (MCN Energy Group Inc), Executive Employment Agreement (Navidec Inc), Executive Supplemental Employment Agreement (Highwoods Realty LTD Partnership)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average highest cash bonus paid or payable, including by reason of deferral, to the Executive by the Company and its affiliated companies in respect of the three ten fiscal years (or such shorter period during which the Executive has been employed by the Company) immediately preceding the fiscal year in which the Effective Date occurs (annualized for any fiscal year during the Employment Period such period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) (referred to herein as the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 7 contracts

Samples: Change in Control Agreement (Strattec Security Corp), Employment Agreement (Strattec Security Corp), Employment Agreement (Strattec Security Corp)

Annual Bonus. In addition to Annual Base Salary, the ------------ Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average annualized (for any fiscal year consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) bonus (the "Average Annual Bonus") paid or payable, including by reason of deferral, payable to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) (the "Recent Annual Bonus")occurs. Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual BonusBonus pursuant to deferral plans of the Company.

Appears in 5 contracts

Samples: Agreement (Hologic Inc), Agreement (Hologic Inc), Agreement (Hologic Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average Executive's highest bonus paid under the Company's Management Incentive Plan, Long-Term Incentive Plan and/or business unit incentive plan (or payableany predecessor or successor plan to any thereof) as applicable, including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for less than twelve full monthsthe whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 5 contracts

Samples: Employment Agreement (Comerica Inc /New/), Employment Agreement (Comerica Inc /New/), Employment Agreement (Comerica Inc /New/)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Post-Change of Control Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average annualized (for any fiscal year consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) bonus paid or payable, including by reason of any deferral, to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) (the "Recent Annual Bonus")occurs. Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 4 contracts

Samples: Executive Agreement (Atwood Oceanics Inc), Executive Agreement (Atwood Oceanics Inc), Executive Agreement (Atwood Oceanics Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual BonusANNUAL BONUS") in cash at least equal to the average annualized (for any fiscal year consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) bonus paid or payable, including by reason of any deferral, to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) (the "Recent Annual BonusRECENT AVERAGE BONUS"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 3 contracts

Samples: Employment Agreement (Ivax Corp /De), Employment Agreement (Noven Pharmaceuticals Inc), Employment Agreement (Ivax Corp /De)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average Executive's aggregate highest bonus paid under the Company's Annual Incentive Compensation Plan and Intermediate Term Incentive Compensation Plan, or payableany successor or replacement plans, including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for less than twelve full monthsthe whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 3 contracts

Samples: Employment Agreement (Newmont Mining Corp), Employment Agreement (Newmont Mining Corp), Employment Agreement (Newmont Mining Corp)

Annual Bonus. In addition to Annual Base Salary, the Executive shall ------------ be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average annualized (for any fiscal year consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) bonus paid or payable, including by reason of any deferral, to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) (the "Recent Annual Average Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 2 contracts

Samples: Termination Benefits Agreement (Control Devices Inc), Termination Benefits Agreement (Control Devices Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average annualized (for any fiscal year consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) bonus paid or payable, including by reason of any deferral, to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) (the "Recent Annual Bonus")occurs. Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 2 contracts

Samples: Agreement (Ha Lo Industries Inc), Agreement (Ha Lo Industries Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average Executive's highest bonus paid under the Company's incentive plans, or payableany comparable bonus under any predecessor or successor plan, including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for the whole of such fiscal year), provided that if no such bonus has been paid to the Executive, such amount shall not be less than twelve full months) $80,000 (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 2 contracts

Samples: Change of Control Employment Agreement (West Coast Bancorp /New/Or/), Change of Control Employment Agreement (West Coast Bancorp /New/Or/)

Annual Bonus. In addition to Annual Base Salary, the Executive ------------ shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average annualized (for any fiscal year consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) bonus (the "Average Annual Bonus") paid or payable, including by reason of deferral, payable to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) (the "Recent Annual Bonus")occurs. Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual BonusBonus pursuant to deferral plans of the Company.

Appears in 2 contracts

Samples: Agreement (Hologic Inc), Agreement (Hologic Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average highest bonus paid or payable, including by reason of deferral, to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in in, which the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve full full, months or with respect to which the Executive has been employed by the Company for less than twelve full months) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 2 contracts

Samples: Employment Agreement (Hecla Mining Co/De/), Employment Agreement (Hecla Mining Co/De/)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average Executive’s highest bonus paid under the Company’s annual incentive bonus plans, including, without limitation, its Designated Executive Incentive Plan and Management Incentive Plan, or payableany comparable bonus under any predecessor or successor plan or plans, including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for less than twelve full monthsthe whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 2 contracts

Samples: Employment Agreement (Office Depot Inc), Employment Agreement (Office Depot Inc)

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Annual Bonus. In addition to Annual Base Salary, the ------------ Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average greater of fifty percent (50%) of Annual Base Salary or the Executive's highest bonus paid under the Company's executive compensation plan, or payableany comparable bonus under any predecessor or successor plan, including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for less than twelve full monthsthe whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Change in Control (Xcellenet Inc /Ga/)

Annual Bonus. In addition to the Annual Base Salary, the ------------ Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average Executive's highest annual bonus paid under the Company's annual incentive plans or payableany comparable bonus under any predecessor or successor plan (and not including any signing bonuses or other one-time special bonus payments), including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during annualized, in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for less than twelve full monthsthe whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Employment Agreement (Ziegler Companies Inc)

Annual Bonus. In addition to Annual Base SalarySalary during the Employment Period, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average Executive’s highest bonus paid under the Company’s Incentive Compensation and Deferred Income Plan for Key Employees, or payableany comparable bonus under any predecessor or successor plan, including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for less than twelve full monthsthe whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end fifteenth day of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Employment Agreement (PPG Industries Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average Executive's highest bonus paid under the Company's annual incentive plans (including, for these purposes, any grant of restricted stock or payableother similar transaction which is made instead of, including by reason of deferralor as a supplement to, to any such bonus), for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for less than twelve full monthsthe whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Employment Agreement (Lexington Corporate Properties Trust)

Annual Bonus. In addition to Annual Base Salary, the Executive ------------ shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average greater of forty percent (40%) of Annual Base Salary or the Executive's highest bonus paid under the Company's executive compensation plan, or payableany comparable bonus under any predecessor or successor plan, including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for less than twelve full monthsthe whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Xcellenet Inc /Ga/

Annual Bonus. In addition to Annual Base Salary, the Executive shall ------------ be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average greater of forty percent (40%) of Annual Base Salary or the Executive's highest bonus paid under the Company's executive compensation plan, or payableany comparable bonus under any predecessor or successor plan, including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for less than twelve full monthsthe whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Change in Control (Xcellenet Inc /Ga/)

Annual Bonus. In addition to Annual Base Salary, the Executive ------------ shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average annualized (for any fiscal year consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) bonus paid or payable, including by reason of any deferral, to the Executive by the Company and its affiliated companies in respect of the three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (annualized for any fiscal year during the Employment Period consisting of less than twelve full months or with respect to which the Executive has been employed by the Company for less than twelve full months) (the "Recent Annual Average Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Employment Agreement (Atl Ultrasound Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average Executive's highest bonus paid under the Company's [Annual Incentive Plans], or payableany comparable bonus under any predecessor or successor plan, including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for the whole of such fiscal year), provided that if no such bonus has been paid to the Executive, such amount shall not be less than twelve full months) $125,000 (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Change of Control Employment Agreement (West Coast Bancorp /New/Or/)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year beginning or ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the average GREATER OF, the bonus paid provided for in any Existing Agreement and the Executive's highest cash bonus under the Company's annual incentive plans, or payableany comparable bonus under any predecessor or successor plan, including by reason of deferral, to for the Executive by the Company and its affiliated companies in respect of the last three full fiscal years immediately preceding the fiscal year in which prior to the Effective Date occurs (annualized for any fiscal year during in the Employment Period consisting of less than twelve full months or with respect to which event that the Executive has been was not employed by the Company for less than twelve full monthsthe whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Change Of (Conrail Inc)

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