Common use of Certain Bonus Payments Clause in Contracts

Certain Bonus Payments. (a) Except to the extent otherwise provided in Section 10.1, annual incentive bonuses in respect of 2015 shall be paid to RemainCo Employees and SpinCo Employees by RemainCo and SpinCo, respectively, at the time such bonuses are normally paid (but no later than March 15, 2016) in accordance with the bonus pools determined by the Compensation Committee of the respective Board of Directors. The annual incentive bonuses in respect of 2015 for RemainCo Employees and SpinCo Employees who were employed by the RemainCo Group during 2015 prior to the Distribution Date shall be bifurcated. Each such individual’s bonus shall be the sum of: (i) the bonus based on the applicable bonus plan provisions, prorated for the period between January 1, 2015 and the Distribution Date, and (ii) the bonus based on the applicable bonus plan provisions, prorated for the period between the day after the Distribution Date and December 31, 2015. (b) SpinCo shall assume responsibility for the grant of 2015 bonuses and liability for payment of bonuses to the individuals listed on Schedule 3.7(b) earned under The Xxxxxxx & Xxxxxx Executive Incentive Compensation Plan and The Xxxxxxx & Xxxxxx Company Management Incentive Plan. RemainCo shall maintain liability for payment of bonuses to individuals other than those listed on Schedule 3.7(b) earned under The Xxxxxxx & Xxxxxx Executive Incentive Compensation Plan and The Xxxxxxx & Xxxxxx Company Management Incentive Plan. SpinCo shall assume responsibility for the grant of 2015 bonuses and liability for payment of bonuses to SpinCo Employees earned under the The Xxxxxxx & Xxxxxx Company Salaried Employees Incentive Plan. RemainCo shall maintain liability for payment of bonuses to individuals other than the SpinCo Employees earned under The Xxxxxxx & Xxxxxx Company Salaried Employees Incentive Plan.

Certain Bonus Payments. (a) Except to the extent otherwise provided in Section 10.1, annual incentive bonuses in respect of 2015 2010 shall be paid to RemainCo XxXxxxxxx Employees and SpinCo B&W Employees by RemainCo MII and SpinCoB&W, respectively, at the time such bonuses are normally paid (but no later than March 15, 20162011) in accordance with the bonus pools determined by the Compensation Committee of the respective Board board of Directorsdirectors. The annual incentive bonuses in respect of 2015 2010 for RemainCo XxXxxxxxx Employees and SpinCo B&W Employees who were employed by the RemainCo Group MI during 2015 2010 prior to the Distribution Date shall be bifurcated. Each such individual’s bonus shall be the sum of: (i) the target bonus based on for the applicable bonus plan provisionsyear, prorated for the period between January 1, 2015 2010 and the day before the Distribution Date, and (ii) the bonus based on the applicable bonus plan provisions, prorated for the period between the day after the Distribution Date and December 31, 20152010. (b) SpinCo B&W shall assume responsibility for the grant of 2015 2010 bonuses and liability for payment of bonuses to the individuals listed on Schedule 3.7(b) earned under The Xxxxxxx & Xxxxxx the MII Executive Incentive Compensation Plan, the MII Management Incentive Compensation Plan for B&W Employees and The Xxxxxxx & Xxxxxx Company Management the MI Salaried Employees Incentive Plan. RemainCo MII shall maintain liability for payment of bonuses to individuals other than those listed on Schedule 3.7(b) earned under The Xxxxxxx & Xxxxxx the MII Executive Incentive Compensation Plan and The Xxxxxxx & Xxxxxx Company Plan, the MII Management Incentive Plan. SpinCo shall assume responsibility Compensation Plan for MII Employees and the grant of 2015 bonuses and liability for payment of bonuses to SpinCo Employees earned under the The Xxxxxxx & Xxxxxx Company Salaried Employees Incentive Plan. RemainCo shall maintain liability for payment of bonuses to individuals other than the SpinCo Employees earned under The Xxxxxxx & Xxxxxx Company MI Salaried Employees Incentive Plan.

Certain Bonus Payments. (a) Except to the extent otherwise provided in Section 10.1, annual incentive bonuses in respect of 2015 2010 shall be paid to RemainCo XxXxxxxxx Employees and SpinCo B&W Employees by RemainCo MII and SpinCoB&W, respectively, at the time such bonuses are normally paid (but no later than March 15, 20162011) in accordance with the bonus pools determined by the Compensation Committee of the respective Board board of Directorsdirectors. The annual incentive bonuses in respect of 2015 2010 for RemainCo XxXxxxxxx Employees and SpinCo B&W Employees who were are employed by MI on the RemainCo Group during 2015 prior to day before the Distribution Date shall be bifurcated. Each such individual’s bonus shall be the sum of: (i) the target bonus based on for the applicable bonus plan provisionsyear, prorated for the period between January 1, 2015 2010 and the day before the Distribution Date, and (ii) the bonus based on the applicable bonus plan provisions, prorated for the period between the day after the Distribution Date and December 31, 20152010. (b) SpinCo B&W shall assume responsibility for the grant of 2015 2010 bonuses and liability for payment of bonuses to the individuals listed on Schedule 3.7(b) earned under The Xxxxxxx & Xxxxxx the MII Executive Incentive Compensation Plan, the MII Management Incentive Compensation Plan for B&W Employees and The Xxxxxxx & Xxxxxx Company Management the MI Salaried Employees Incentive Plan. RemainCo MII shall maintain liability for payment of bonuses to individuals other than those listed on Schedule 3.7(b) earned under The Xxxxxxx & Xxxxxx the MII Executive Incentive Compensation Plan and The Xxxxxxx & Xxxxxx Company Plan, the MII Management Incentive Plan. SpinCo shall assume responsibility Compensation Plan for MII Employees and the grant of 2015 bonuses and liability for payment of bonuses to SpinCo Employees earned under the The Xxxxxxx & Xxxxxx Company Salaried Employees Incentive Plan. RemainCo shall maintain liability for payment of bonuses to individuals other than the SpinCo Employees earned under The Xxxxxxx & Xxxxxx Company MI Salaried Employees Incentive Plan.