Post-Effective Date Pro Rata Bonus Clause Samples

Post-Effective Date Pro Rata Bonus. The Company and Executive acknowledge and agree that with respect to Executive’s eligibility for an annual bonus under the STIBP for calendar year 2014 for the time period following the Effective Date, Executive shall only be eligible to receive a pro rata bonus with respect to the time period beginning on the Effective Date and ending on December 31, 2014. Except as provided in the preceding sentence, all other terms and conditions applicable to Executive’s annual bonus for calendar year 2014 under the STIBP shall continue and remain unchanged in all other respects (including, but not limited to, performance and continued employment requirements). For the avoidance of doubt, (i) the only amount required to be paid to Executive under the STIBP for calendar year 2014 with respect to the time period preceding the Effective Date shall be the Guaranteed STIBP Bonus (but Executive shall remain eligible to receive additional amounts in excess of the Guaranteed STIBP Bonus with respect to such time period in accordance with Section 2(e)(ii) above) and (ii) if Executive becomes entitled to benefits under the COC Agreement prior to the date on which the Guaranteed STIBP Bonus is paid pursuant to Section 2(e)(ii) above, the Company and Executive acknowledge and agree that the Guaranteed STIBP Bonus shall not be considered an “Accrued Payment” (as defined in the COC Agreement) for purposes of the COC Agreement, and Executive shall not be entitled to receive any other amounts in respect of the STIBP for the time period preceding the Effective Date as an Accrued Payment under the COC Agreement.