Common use of Current Performance Year Clause in Contracts

Current 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 Date occurs, in a lump sum in cash within sixty (60) days after the Covered Termination Date.

Appears in 10 contracts

Samples: Change in Control Agreement (Babcock & Wilcox Co), Change in Control Agreement (Babcock & Wilcox Co), Change in Control Agreement (Babcock & Wilcox Co)

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Current 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 Date occurs, in a lump sum in cash within sixty (60) days on the 60th day after the Covered Termination Date.

Appears in 8 contracts

Samples: Change in Control Agreement (McDermott International Inc), Change in Control Agreement (McDermott International Inc), Change in Control Agreement (McDermott International Inc)

Current 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 Date occurs, in a lump sum in cash within sixty (60) days after the Covered Termination Date's employment terminated.

Appears in 5 contracts

Samples: Change in Control Agreement (Reliant Energy Inc), Change in Control Agreement (Reliant Energy Inc), Change in Control Agreement (Reliant Energy Inc)

Current 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 Date occurs, in a lump sum in cash within sixty (60) days after the Covered Termination Dateemployment terminated.

Appears in 3 contracts

Samples: Change in Control Agreement (Reliant Energy Inc), Change in Control Agreement (Reliant Energy Inc), Change in Control Agreement (Reliant Energy Inc)

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Current 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 Date date occurs, in a lump sum in cash within sixty (60) days after the Covered Termination Date.

Appears in 2 contracts

Samples: Change in Control Agreement (Reliant Energy Inc), Change in Control Agreement (Reliant Energy Inc)

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