Bonus for Year of Termination. On the sixtieth (60th) day following the Date of Termination, Executive will be paid a lump sum cash payment in an amount equal to the product of (x) the average Annual Bonus earned by Executive for the two (2) calendar years immediately preceding the year in which the Date of Termination occurs, and (y) a fraction, the numerator of which is the number of days from January 1 of the year during which the Date of Termination occurs to the Date of Termination and the denominator of which is three hundred and sixty five (365).
Appears in 4 contracts
Samples: Severance and Change in Control Agreement (PROG Holdings, Inc.), Severance And (Aaron's Company, Inc.), Severance And (Aaron's Company, Inc.)
