Bonus Entitlement. To the extent the Executive's termination of employment occurs after the last day of the first quarter of an applicable Company fiscal year, the Executive will be entitled to receive a pro rata portion of the Executive's Target Bonus Percentage (based on the number of days the Executive was employed with the Company during such fiscal year of termination divided by 365), which amount shall be payable over the Payment Period; PROVIDED, HOWEVER, that, if the Target Bonus Percentage has not been set for the year in which the date of termination occurs, the Executive's Target Bonus Percentage for purpose of this Section 10(b) shall be the Executive's Target Bonus Percentage for the year immediately preceding the year in which the Executive's employment is terminated hereunder.
Appears in 7 contracts
Samples: Employment Agreement (Uici), Employment Agreement (Uici), Employment Agreement (Uici)
Bonus Entitlement. To the extent the Executive's ’s termination of employment occurs after the last day of the first quarter of an applicable Company fiscal year, the Executive will be entitled to receive a pro rata portion of the Executive's ’s Target Bonus Percentage (based on the number of days the Executive was employed with the Company during such fiscal year of termination divided by 365), which amount shall be payable over the Payment Period; PROVIDEDprovided, HOWEVERhowever, that, if the Target Bonus Percentage has not been set for the year in which the date of termination occurs, the Executive's ’s Target Bonus Percentage for purpose of this Section 10(b) shall be the Executive's ’s Target Bonus Percentage for the year immediately preceding the year in which the Executive's ’s employment is terminated hereunder.
Appears in 4 contracts
Samples: Employment Agreement (HealthMarkets, Inc.), Employment Agreement (HealthMarkets, Inc.), Employment Agreement (HealthMarkets, Inc.)
Bonus Entitlement. To the extent the Executive's ’s termination of employment occurs after the last day of the first quarter of an applicable Company fiscal year, the Executive will be entitled to receive a pro rata portion of the Executive's ’s Target Bonus Percentage (based on the number of days the Executive was employed with the Company during such fiscal year of termination divided by 365)) multiplied by the Executive’s Base Salary, which amount shall be payable over the Payment Period; PROVIDEDprovided, HOWEVERhowever, that, if the Target Bonus Percentage has not been set for the year in which the date of termination occurs, the Executive's ’s Target Bonus Percentage for purpose of this Section 10(b9(b) shall be the Executive's ’s Target Bonus Percentage for the year immediately preceding the year in which the Executive's ’s employment is terminated hereunder.
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