Common use of Current Fiscal Year Bonus Clause in Contracts

Current Fiscal Year Bonus. The Company shall pay to the Executive a pro rata portion of the Executive’s target annual cash Incentive Compensation Award for the fiscal year that includes the Termination Date, less any payments thereof already made during such fiscal year; provided, however, that if the Termination Date occurs during the last two (2) months of the fiscal year, the Company shall pay to the Executive a pro rata portion of the greater of: (i) the Executive’s target annual cash Incentive Compensation Award for the fiscal year that includes the Termination Date; or (ii) the Executive’s actual annual cash Incentive Compensation Award for the fiscal year that includes the Termination Date, based on trend of actual performance through the Termination Date. This payment, which shall be made in a lump sum, shall not be made until the later of: (a) fifteen (15) days after the Date of Termination; or (ii) fifteen (15) days after the date the executed Release required in Section 13 becomes non-revocable by the Executive in accordance with applicable law, subject to any applicable required timing to the contrary set forth in Section 13.