Cash Bonus Payment. Executive shall receive a payment in an amount (the ------------------ "Minimum Bonus Payment") equal to fifty percent (50%) of Executive's "Target Bonus" for the year in which Executive's termination date occurs. In addition, if Executive's termination date
Cash Bonus Payment. The Company shall pay to Executive an amount equal to one times Executive’s target annual cash incentive bonus for the calendar year in which the Termination Date occurs, less deductions and withholding required by law, payable in a lump sum at the same time as other eligible employees under the Company’s annual cash incentive bonus plan for such calendar year are paid their bonuses under such Company’s annual cash incentive bonus plan for such calendar year, but in any event no later than March 15 of the calendar year immediately following the calendar year in which the Termination Date occurs.
Cash Bonus Payment. Executive shall receive a payment in an amount (the "Minimum Bonus Payment") equal to fifty percent (50%) of Executive's "Target Bonus" for the year in which Executive's termination date occurs. In addition, if Executive's termination date occurs in the second half of the year (i.e., after June 30th), and all financial performance criteria established in Executive's bonus plan are achieved by the Company for the full year in which Executive's termination date occurs, then the Company will pay Executive an additional amount (the "Contingent Bonus Payment") equal to (i) a pro rata portion of Executive's Target Bonus prorated based on the number of days Executive is employed by the Company during such year, less (ii) the Minimum Bonus Payment. "Target Bonus" means the total bonus amount Executive would be entitled to receive for the entire year assuming achievement of 100% of the financial and non-financial objectives established in Executive's bonus plan (but not including any additional bonus amount payable for over achievement of objectives). The Minimum Bonus Payment shall be paid in a lump sum within five (5) business days after the conclusion of the transition period (or after the termination date if there is no transition period requested by the Company) without regard to the actual satisfaction of any performance criteria. The Contingent Bonus Payment, if any, shall be paid in a lump sum within sixty (60) days after the end of the year in which Executive's termination date occurs. Payments under this section shall be less applicable withholding.
Cash Bonus Payment. The Company shall pay to Executive an amount equal to the sum of: (1) one times Executive’s target annual cash incentive bonus for the calendar year in which the Termination Date occurs plus (2) the amount determined by multiplying (x) the annual cash incentive bonus Executive would have received under the Company’s annual cash incentive bonus plan for the calendar year in which the Termination Date occurs assuming Executive would have remained employed through the date Executive would have otherwise earned an annual cash incentive bonus under such year’s annual cash incentive bonus plan by (y) a fraction, the numerator of which is the number of days Executive was employed by the Company during the calendar year in which the Termination Date occurs through and including the Termination Date and the denominator is 365. The amount payable pursuant to this paragraph shall be reduced by deductions and withholding required by law, and shall be payable in a lump sum at the same time as other eligible employees under the Company’s annual cash incentive bonus plan for such calendar year are paid their bonuses under such Company’s annual cash incentive bonus plan for such calendar year, but in any event no later than March 15 of the calendar year immediately following the calendar year in which the Termination Date occurs.
Cash Bonus Payment. The Company shall pay to Executive an amount equal to one times Executive’s target annual cash incentive bonus for the calendar year in which the Termination Date occurred, less deductions and withholding required by law, payable as follows: (a) if the Change in Control and the Termination Date occur in the same calendar year, then in a lump sum at the same time as other eligible employees under the Company’s annual cash incentive bonus plan for such calendar year are paid their bonuses under such Company’s annual cash incentive bonus plan for such calendar year, but in any event no later than March 15 of the calendar year immediately following the calendar year in which the Termination Date occurred, or (b) if the Change in Control occurs in the calendar year following the year in which the Termination Date occurred, then in a lump sum not later than 60 days after the Change in Control.
Cash Bonus Payment. Executive shall receive a payment in an amount (the “Minimum Bonus Payment”) equal to fifty percent (50%) of Executive’s “Target Bonus” for the year in which Executive’s termination date occurs, less any quarterly bonus amounts paid to Executive during such year. In addition, if Executive’s termination date occurs in the second half of the year (i.e., after June 30th), and all financial performance criteria established in Executive’s bonus plan are achieved by the Company for the full year in which Executive’s termination date occurs, then the Company will pay Executive an additional amount (the “Contingent Bonus Payment”) equal to (i) a pro rata portion of Executive’s Target Bonus prorated based on the number of days Executive is employed by the Company during such year, less (ii) the Minimum Bonus Payment and any quarterly bonus amounts paid to Executive during such year. “Target Bonus” means the total bonus amount Executive would be entitled to receive for the entire year assuming achievement of 100% of the financial and non-financial objectives established in Executive’s bonus plan (but not including any additional bonus amount payable for over achievement of objectives). The Minimum Bonus Payment shall be paid in a lump sum within five (5) business days after the conclusion of the transition period (or after the termination date if there is no transition period requested by the Company) without regard to the actual satisfaction of any performance criteria. The Contingent Bonus Payment, if any, shall be paid in a lump sum within sixty (60) days after the end of the year in which Executive’s termination date occurs. Payments under this section shall be less applicable withholding.
Cash Bonus Payment. Executive shall receive a payment in an amount equal to a pro rata portion of Executive’s bonus through the quarter period that Executive is employed by the Company during such year. Calculation of bonus will be based on the corresponding results of earnings through the full quarter period during which Executive is terminated (even if Executive was not employed through the full quarter period when termination occurred). The Cash Bonus Payment, if any, shall be paid in a lump sum within 90 days after the end of the quarter period in which Executive’s termination date occurs. Payments under this section shall be less applicable withholding. The Severance Payment and benefits provided for in this Section 2 shall be in lieu of any other severance or termination pay, compensation or payment to which the Executive may be entitled under any Company severance or termination plan, program, practice or arrangement.
Cash Bonus Payment. Executive shall receive a payment in an amount equal to the product of Executive’s bonus under his Annual Incentive Plan determined as if the Company had achieved 100% of the financial performance targeted for the year in which such Termination Upon Change of Control occurs multiplied by a fraction the numerator is the number of days from the first day of the year in which such Termination upon Change of Control occurs through the conclusion of the transition period (or the termination date if there is no transition period requested by the Company) and the denominator is 365. The Cash Bonus Payment shall be paid within five (5) business days after the conclusion of the transition period (or after the termination date if there is no transition period requested by the Company). The severance payment and benefits provided for in this Section 1 shall be in lieu of any other severance or termination pay, compensation or payment to which the Executive may be entitled under any Company severance or termination plan, program, practice or arrangement. The Company shall withhold from any payments under this Section 1 all amounts required to be withheld pursuant to any applicable law or regulation.
Cash Bonus Payment. Executive shall receive a payment in an amount equal to the product of Executive’s bonus under his Annual Incentive Plan determined as if the Company had achieved 100% of the financial performance targeted for the year in which such Termination (Without Cause) in the Absence of Change of Control occurs multiplied by a fraction the numerator is the number of days from the first day of the year in which such Termination (Without Cause) in the Absence of Change of Control occurs through the conclusion of the transition period (or the termination date if there is no transition period requested by the Company) and the denominator is 365. The Cash Bonus Payment shall be paid within five (5) business days after the conclusion of the transition period (or after the termination date if there is no transition period requested by the Company). The severance payment and benefits provided for in this Section 2 shall be in lieu of any other severance or termination pay, compensation or payment to which the Executive may be entitled under any Company severance or termination plan, program, practice or arrangement. The Company shall withhold from any payments under this Section 2 all amounts required to be withheld pursuant to any applicable law or regulation.
Cash Bonus Payment. The Company will provide you with a lump sum cash bonus payment of $300,000 (three hundred thousand dollars) payable on September 15, 2015 (the “Cash Bonus”). You shall be eligible for the Cash Bonus if you:
(a) Remain employed by the Company from the date of this Agreement through September 15, 2015;
(b) Remain employed by the Company from the date of this Agreement through the effective date of a Change of Control; or
(c) Are involuntarily terminated without Cause and thereafter deliver to the Company a signed release and waiver in the form substantially similar to the form attached hereto as Exhibit A (the “Release and Waiver”) within the applicable time period set forth therein, but in no event later than forty-five (45) days following your termination, and permit it to become effective in accordance with its terms. A termination of your employment for any reason other than an involuntary termination without Cause (e.g., involuntary termination for Cause, termination due to your death, Complete Disability, or a voluntary termination for any reason) prior to the earliest of the foregoing events shall result in your forfeiture of any right to receive the Cash Bonus. The Cash Bonus shall replace the target annual incentive you would otherwise be eligible for in calendar year 2015 under the Company’s 2015 Management Bonus Plan; you will revert back to eligibility under the Company’s Management Bonus Plan at your target annual incentive (currently 60% of base salary) in calendar year 2016.
