Payment of Prorated Annual Bonus. If a Change of Control occurs during the term of this Agreement (including the sale of a segment as provided under Section 3(e) above), the Company shall provide Executive with a payment equal to a prorated portion of his performance-based annual bonus for such year. The prorated amount shall be determined based on performance to date and on the number of days which have elapsed in such fiscal year through the date of the Change of Control. Following receipt of this payment, Executive shall forfeit any further rights to this annual bonus.
Appears in 7 contracts
Samples: Change of Control Agreement (Amcol International Corp), Change of Control Agreement (Amcol International Corp), Change of Control Agreement (Amcol International Corp)
