Common use of Base Salary and Target Bonus Clause in Contracts

Base Salary and Target Bonus. The Company shall continue to pay to Employee the Adjusted Base Salary in effect as of the date on which the Notice of Termination was delivered for two (2) years following the Termination Date (but in no event less than 365 days) (such period being the "Continuation Period") which amount shall be reduced by any amount payable to Employee under any disability plan maintained by the Company for the benefit of Employee. In addition, the Employee shall be entitled to continue to participate in the Annual Bonus Plan for two (2) years following the Termination Date with the second anniversary of the Termination Date being the Expiration Date for purposes of Section 3.2.

Appears in 6 contracts

Samples: Release Agreement (American Capital Strategies LTD), Release Agreement (American Capital Strategies LTD), Employment Agreement (American Capital Strategies LTD)

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Base Salary and Target Bonus. The Company shall continue to pay to Employee the Adjusted Base Salary under the Old Agreement in effect as of the date on which the Notice of Termination was delivered for two (2) years following the Termination Effective Date (but in no event less than 365 days) (such period being the "Continuation Period") which amount shall be reduced by any amount payable to Employee under any disability plan maintained by the Company for the benefit of Employee. In addition, the Employee shall be entitled to continue to participate in the Annual Bonus Plan for two (2) years following the Termination Effective Date with the second anniversary of the Termination Effective Date being the Expiration Date for purposes of Section 3.23.2 of the Old Agreement.

Appears in 2 contracts

Samples: Release Agreement (American Capital Strategies LTD), Release Agreement (American Capital Strategies LTD)

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Base Salary and Target Bonus. The Company shall continue to pay to Employee the Adjusted Base Salary in effect as of the date on which the Notice of Termination was delivered for two (2) years following the Termination Date (but in no event less than 365 days) (such period being the "Continuation Period") which amount shall be reduced by any amount payable to Employee under any disability plan maintained by the Company for the benefit of Employee. In addition, the Employee shall be entitled to continue to participate in the Annual Bonus Plan for two (2) years following the Termination Date with the second anniversary of the Termination Date being the Expiration Date for purposes of Section 3.2.

Appears in 1 contract

Samples: Employment Agreement (American Capital Strategies LTD)

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