Common use of Bonus Amount Clause in Contracts

Bonus Amount. The term “Bonus Amount” means twice the amount of the higher of (i) the highest annual bonus earned by Employee for the last three fiscal years ending prior to the termination date, and (ii) (A) the target bonus percentage as established by the Company’s Board of Directors for the fiscal year in which the Change of Control occurs, multiplied by (B) Employee’s annual base salary for that fiscal year (whether or not paid or accrued for the full year at the time of Employee’s termination or resignation).

Appears in 8 contracts

Samples: Employment Agreement (Harvest Natural Resources, Inc.), Employment Agreement (Harvest Natural Resources, Inc.), Employment Agreement (Harvest Natural Resources, Inc.)

AutoNDA by SimpleDocs

Bonus Amount. The term "Bonus Amount" means twice the amount of the higher of (i) the highest annual bonus earned by Employee for the last three fiscal years ending prior to the termination date, and (ii) (A) the target bonus percentage as established by the Company’s 's Board of Directors for the fiscal year in which the Change of Control occurs, multiplied by (B) Employee’s 's annual base salary for that fiscal year (whether or not paid or accrued for the full year at the time of Employee’s 's termination or resignation).

Appears in 2 contracts

Samples: Employment Agreement (Harvest Natural Resources, Inc.), Employment Agreement (Harvest Natural Resources, Inc.)

Bonus Amount. The term "Bonus Amount" means twice the amount of the higher of (i) the highest annual bonus earned by Employee for the last three fiscal years ending prior to the termination date, and (ii) (A) the target bonus percentage as established by the Company’s 's Board of Directors for the fiscal year in which the Change of Control occurs, multiplied by (B) Employee’s 's annual base salary for that fiscal year (whether or not paid or accrued for the full year at the time of Employee’s 's termination or resignation).

Appears in 2 contracts

Samples: Employment Agreement (Harvest Natural Resources, Inc.), Employment Agreement (Harvest Natural Resources, Inc.)

Bonus Amount. The term “Bonus Amount” means twice three times the amount of the higher of (i) the highest annual bonus earned by Employee for the last three fiscal years ending prior to the termination date, and (ii) (A) the target bonus percentage as established by the Company’s Board of Directors for the fiscal year in which the Change of Control occurs, multiplied by (B) Employee’s annual base salary for that fiscal year (whether or not paid or accrued for the full year at the time of Employee’s termination or resignation).

Appears in 1 contract

Samples: Employment Agreement (Harvest Natural Resources, Inc.)

AutoNDA by SimpleDocs

Bonus Amount. The term "Bonus Amount" means twice the amount of the higher of (i) the highest annual bonus earned by Employee for the last three fiscal years ending prior to the termination date, and (ii) (A) the target bonus percentage as established by the Company’s 's Board of Directors for the fiscal year in which the Change of Control occurs, multiplied by (B) Employee’s 's annual base salary for that fiscal year (whether or not paid or accrued for the full year at the time of Employee’s 's termination or resignation).

Appears in 1 contract

Samples: Employment Agreement (Harvest Natural Resources Inc)

Bonus Amount. The term “Bonus Amount” means twice the amount of the higher of (i) the highest annual bonus earned by Employee for the last three fiscal years ending prior to the termination date, and (ii) (A) the target bonus percentage as established by the Company’s Board of Directors for the fiscal year in which the Change of Control occurs, multiplied by (B) Employee’s annual base salary for that fiscal year (whether or not paid or accrued for the full year at the time of Employee’s termination or resignation).

Appears in 1 contract

Samples: Employment Agreement (Harvest Natural Resources, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!