Common use of Earned Bonus Amount Clause in Contracts

Earned Bonus Amount. For any year for which the EVA Plan is in effect prior to the year during which a Change of Control occurs, your "Earned Bonus Amount" means your Declared Bonus for that year (as determined under the EVA Plan) multiplied by a fraction the numerator of which is your Bonus Award Earned for that year (as determined under the EVA Plan) and the denominator of which is your Available Bonus for that year (as determined under the EVA Plan). For the year during which a Change of Control occurs and any subsequent year, your "Earned Bonus Amount" means your Declared Bonus for that year (as determined under the EVA Plan).

Appears in 4 contracts

Samples: Severance Agreement (Computer Network Technology Corp), Severance Agreement (Computer Network Technology Corp), Severance Agreement (Inrange Technologies Corp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!