Covered Termination Performance Year. An amount equal to the product of (A) the Salary and (B) the Target Bonus Percentage, with the product of (A) and (B) prorated based on the number of days Executive was employed during the bonus year in which Executive’s Covered Termination occurs, paid in a lump sum in cash within sixty (60) days after the effective date of the Covered Termination.
Appears in 8 contracts
Samples: Change in Control Agreement, Change in Control Severance Agreement (Babcock & Wilcox Enterprises, Inc.), Change in Control Severance Agreement (Babcock & Wilcox Enterprises, Inc.)
Covered Termination Performance Year. An amount equal to the product of (A) the Salary and (B) the Target Applicable Bonus Percentage, with the product of (A) and (B) prorated based on the number of days Executive was employed during the bonus year in which Executive’s Covered Termination occurs, paid in a lump sum in cash within sixty (60) days after the effective date Covered Termination; but if the Covered Termination occurs in calendar year 2014 or 2016, such payment may be made not later than March 15 of the calendar year following the year in which the Covered TerminationTermination occurs.
Appears in 5 contracts
Samples: Restructuring Transaction Retention Agreement (Babcock & Wilcox Enterprises, Inc.), Restructuring Transaction Severance Agreement (Babcock & Wilcox Enterprises, Inc.), Restructuring Transaction Severance Agreement (Babcock & Wilcox Co)
Covered Termination Performance Year. An amount equal to the product of (A) the Executive’s Salary and (B) the Target Applicable Bonus Percentage, with the product of (A) and (B) prorated based on the number of days Executive was employed during the bonus year in which Executive’s Covered Termination occurs, paid in a lump sum in cash within sixty (60) days after the effective date of Covered Termination; provided that if the Covered TerminationTermination occurs in calendar year 2014, such payment shall be made at the same time as would have been the case had the Covered Termination not occurred.
Appears in 2 contracts
Samples: Restructuring Transaction Retention Agreement (Babcock & Wilcox Enterprises, Inc.), Restructuring Transaction Retention Agreement (Babcock & Wilcox Co)
Covered Termination Performance Year. An amount equal to the product of (A) the Salary and (B) the Target Bonus Percentagein respect of the calendar year in which the Executive’s Covered Termination occurs, with the product of (A) and (B) prorated based on the number of days Executive was employed during the bonus year in which Executive’s Covered Termination occurssuch calendar year, paid in a lump sum in cash within sixty (60) days after the effective date of the Covered Termination.
Appears in 1 contract
Samples: Restructuring Transaction Severance Agreement (Babcock & Wilcox Co)
