Cash Bonus Plans. During the term, Employee shall be entitled to participate in the Employer's Management by Objective (the "MBO") and/or other cash bonus plans, if any, generally made available to senior management employees, from time to time, in accordance with and subject to the requirements of such plans (including, without limitation, the MBO); provided nothing herein shall obligate Employer to continue any of such plans including, without limitation, the MBO, for Employee if discontinued for other senior management employees or to maintain the present or any level of bonus potential.
Cash Bonus Plans. (a) Western Atlas shall be responsible for the payment of all Liabilities for benefits due and payable but unpaid as of and through the Distribution Date under each Western Atlas Bonus Plan with respect to any Prior Plan Year (other than the Current Plan Year), other than with respect to benefits due and payable to UNOVA Participants or UNOVA Former Employees.
(b) Except as provided in paragraph (c) below, under each Western Atlas Bonus Plan, the UNOVA Group shall be responsible for the payment of all Liabilities for benefits to UNOVA Participants and UNOVA Former Employees due and payable after the Distribution Date or due and payable but unpaid as of and through the Distribution Date, including the portions of awards made prior to the Distribution Date which are not payable prior to the Distribution Date.
(c) Prior to the Distribution Date, Western Atlas shall determine 1997 annual bonus awards under the Western Atlas Bonus Plans for UNOVA Employees who are Western Atlas corporate headquarters employees. Such awards shall be pro rated based upon the portion of the 1997 bonus year which had expired as of the Distribution Date. Western Atlas shall pay a portion of the cash bonus prior to the Distribution Date (the bonus amount that is up to 50% of the employee's base salary earned for 1997 prior to the Distribution Date), and UNOVA shall pay the balance of the bonus following the Distribution Date in installments pursuant to the terms of the Western Atlas Bonus Plans.
(d) Following the end of 1997, UNOVA shall determine 1997 annual bonus awards for UNOVA Employees who were not Western Atlas corporate headquarters employees, and shall make such payments to such UNOVA Employees.
(e) For purposes of the Western Atlas Bonus Plans, individuals who, in connection with the Distribution, cease to be employees of Western Atlas and become UNOVA Employees shall not be deemed to have terminated employment under such Plans as a result of becoming UNOVA Employees for purposes of receiving installments of prior year "Final Awards" under the Western Atlas Bonus Plans. To the extent applicable, for purposes of receiving payments of installments of prior year "Final Awards" under the Western Atlas Bonus Plans, UNOVA Employees must at the time such payment is due (i) be in the active employ of UNOVA or a Subsidiary or Affiliate of UNOVA, (ii) have terminated employment with UNOVA by reason of death, or "Disability" or "Retirement" (as defined in the UNOVA Option Plan) or (ii...
Cash Bonus Plans. From the Closing Date through the end of the applicable bonus year in which the Closing Date occurs, Buyer shall (a) continue to maintain the annual cash bonus plans, cash management incentive and local cash incentive plans and other cash arrangements maintained by Group Members and disclosed on Schedule 5.7 as in effect immediately prior to the Closing Date (the “Bonus Plans”) and (b) pay to the Group Employees who participated in such plans immediately prior to the Closing Date cash bonus amounts at such level(s) and at such time(s) as the terms of the Bonus Plans provide; provided, however, that, except as otherwise provided in any applicable change in control agreement or in any other applicable severance plan, policy or arrangement, notwithstanding anything to the contrary in any Bonus Plan, each Group Employee whose employment is terminated by Buyer or any of its Affiliates on or after the Closing Date, but prior to the end of the applicable bonus year other than for “cause” (as such term is defined in the employment, change in control, or severance agreement or plan, or employee manual, that is applicable, respectively, to each Group Employee who participates in any Bonus Plan) shall be entitled to receive a cash bonus pursuant to the applicable Bonus Plan equal to the pro rata portion (based on the number of days worked by the Group Employee during the applicable performance period) of the annual target bonus that such Group Employee would have been entitled to receive under the applicable Bonus Plan in respect of the bonus year in which such date of termination occurs (if the Group Employee had remained employed by Buyer and its Affiliates through the date such bonus would otherwise be payable).
Cash Bonus Plans
