Common use of PERFORMANCE AWARD, AND BONUS PAYMENTS Clause in Contracts

PERFORMANCE AWARD, AND BONUS PAYMENTS. On or before Employee's last day of employment with the Company, the Company shall pay in a lump sum to Employee as compensation for services rendered to the Company a cash amount equal to one-half the amount of Employee's annual Base Salary and the greater of (x) one-half the target bonus under the Management Bonus Program as in effect immediately prior to his date of termination or (y) the amount of the bonus under the Management Bonus Program to which he is entitled but which remains unpaid. At the election of the Company, the cash amount referred to in this Paragraph 7b.i. may be paid to Employee in periodic installments, without interest, in accordance with the regular salary payment practices of the Company, with the first such installment to be paid on or before Employee's last day of employment with the Company, and no interest shall be paid with respect to any amount not paid on the Employee's date of termination.

PERFORMANCE AWARD, AND BONUS PAYMENTS. On or before Employee's last day of employment with the Company, the Company shall pay in a lump sum to Employee as compensation for services rendered to the Company a cash amount equal to one-half the amount of Employee's annual Base Salary and the greater of (x) one-half the target bonus under the Management Bonus Program as in effect immediately prior to his her date of termination or (y) the amount of the bonus under the Management Bonus Program to which he she is entitled but which remains unpaid. At the election of the Company, the cash amount referred to in this Paragraph 7b.i. may be paid to Employee in periodic installments, without interest, in accordance with the regular salary payment practices of the Company, with the first such installment to be paid on or before Employee's last day of employment with the Company, and no interest shall be paid with respect to any amount not paid on the Employee's date of termination.

PERFORMANCE AWARD, AND BONUS PAYMENTS. On or before Employee's last day of employment with the Company, the Company shall pay in a lump sum the first of twelve equal monthly payments to Employee as compensation for services rendered to the Company a cash an amount equal to one-half the amount of Employee's annual Base Salary and the greater of (x) one-half the target bonus under the Management Bonus Program as in effect immediately prior to his date of termination or (y) the amount of the bonus under the Management Bonus Program to which he is entitled but which remains unpaid. At the election of the Company, the cash amount referred to in this Paragraph 7b.i. may will be paid to Employee in periodic installments, without interest, in accordance with the regular salary payment practices of the Company, with the first such installment to be paid on or before Employee's last day of employment with the Company, and no interest shall be paid with respect to any amount not paid on the Employee's date of termination.