Common use of Bonuses and Incentives Clause in Contracts

Bonuses and Incentives. The Executive shall receive any Annual Cash Bonus then earned (for a full fiscal year or prorated for a partial fiscal year) plus bonus payments from the Company for the thirty-six (36) months following the month in which his employment is terminated in an amount for each such month equal to one-twelfth of the average of the Annual Cash Bonuses paid to him for the two calendar years immediately preceding the calendar year in which such termination occurs (provided that calendar years prior to 1998 shall not be considered). Any Annual Cash Bonus that the Executive had previously earned but which may not yet have been paid as of the date of termination shall be due and payable. All such bonus amounts shall be paid in a single lump sum payment which shall be paid not later than ninety days after his termination.

Bonuses and Incentives. The Executive shall receive any Annual Cash Bonus then earned (for a full fiscal year or prorated for a partial fiscal year) plus bonus payments from the Company for the thirty-six (36) months following the month in which his employment is terminated in an amount for each such month equal to one-twelfth of the average of the Annual Cash Bonuses paid to him for the two calendar fiscal years immediately preceding the calendar fiscal year in which such termination occurs (provided that calendar fiscal years prior to 1998 shall not be considered). Any Annual Cash Bonus that the Executive had previously earned but which may not yet have been paid as of the date of termination shall be due and payable. All such bonus amounts shall be paid in a single lump sum payment which shall be paid not later than ninety days after his payable on the date of termination.