Common use of Bonus and Incentive Payments Clause in Contracts

Bonus and Incentive Payments. If the Executive’s employment with the Company pursuant to this Agreement is terminated by the Company for Cause or by the Executive for any reason other than Good Reason, Executive shall be deemed to have forfeited the right to receive all amounts accrued during the fiscal year of termination under the bonus and incentive compensation arrangements described in Section 3(b) and the Company shall have no obligation to pay Executive any amounts arising under such bonus and incentive compensation arrangements. Upon the termination of the Executive’s employment with the Company pursuant to this Agreement for any other reason, including by reason of the Executive’s death or Disability, the Executive (or his beneficiaries or estate) shall be entitled to receive all amounts accrued under the bonus and incentive compensation arrangements described in Section 3(b) in proportion to the number of days worked in the relevant year, with the bonus and incentive compensation amounts determined by the Company’s Compensation Committee at a time and in a manner consistent with the arrangements then in effect and with any similar awards given to other key executive officers of the Company.

Bonus and Incentive Payments. If the Executive’s employment with the Company pursuant to this Agreement is terminated by the Company for Cause or by the Executive for any reason other than Good Reason, Executive shall be deemed to have forfeited the right to receive all amounts accrued during the fiscal year of termination under the bonus and incentive compensation arrangements described in Section 3(b) and the Company shall have no obligation to pay Executive any amounts arising under such bonus and incentive compensation arrangements. Upon the termination of the Executive’s employment with the Company pursuant to this Agreement for any other reason, including by reason of the Executive’s death or Disability, the Executive (or his her beneficiaries or estate) shall be entitled to receive all amounts accrued under the bonus and incentive compensation arrangements described in Section 3(b) in proportion to the number of days worked in the relevant year, with the bonus and incentive compensation amounts determined by the Company’s Compensation Committee at a time and in a manner consistent with the arrangements then in effect and with any similar awards given to other key executive officers of the Company.