Pro Rata Annual Incentive. In lieu of any annual bonus under Section 5(b) for the year in which the Executive’s employment terminated, the amount equal to the average of the portion of the annual bonus actually paid or payable, in cash, to the Executive with respect to each of the last three calendar years ended prior to the Change in Control (or, if at the Date of Termination, the Executive has been employed for less than three full calendar years, for the number of full calendar years during which the Executive was employed), multiplied by a fraction the numerator of which is the number of days the Executive was employed in the year of termination and the denominator of which is the total number of days in the year of termination, payable in a single lump sum as soon as practicable, but in no event more than 30 days following the Date of Termination, subject to Section 7(f). In addition, for any fiscal year that has been completed at the time of the Executive’s termination, the Company shall pay to the Executive the annual bonus (limited to the portion of such annual bonus scheduled to be paid in cash) under Section 5(b) to the extent earned based on performance in the completed year, without any exercise of negative discretion except as such exercise of negative discretion may be consistent with the exercise of negative discretion for executive officers of the Company whose employment is not then contemplated to terminate payable in a single lump sum as soon as practicable, but in no event more than 30 days following the Date of Termination, subject to Section 7(f) ____________________ 3 The multiplier rangers from ONE to THREE (Chief Executive Officer) depending upon executive position.
Pro Rata Annual Incentive. During the Employment Period, you will continue your participation in the Company’s Short Term Incentive Plan (“STIP”) in accordance with its terms during the Company’s fiscal year ending in 2013 (“FY 2013”). You shall be entitled to a pro rata portion of the annual incentive for FY 2013 under the STIP, in an amount equal to the amount payable based on actual performance if you had remained an employee throughout FY 2013, multiplied by a fraction (the “Pro-Ration Fraction”) the numerator of which is the number of days of your employment in FY 2013 prior to your Termination Date, and the denominator of which is 365, paid at the same time as other recipients receive their annual incentive payments for FY 2103 (the “Pro-Rata 2013 Annual Incentive”).
Pro Rata Annual Incentive. In lieu of any annual bonus under Section 5(b) for the year in which the Executive’s employment terminated, an amount equal to the Executive’s target annual bonus under Section 5(b) (limited to the portion of such target annual bonus scheduled to be paid in cash) for the year of termination, multiplied by a fraction the numerator of which is the number of days the Executive was employed in the year of termination and the denominator of which is the total number of days in the year of termination, payable in a single lump sum as soon as practicable, but in no event more than 30 days following the Date of Termination, subject to Section 7(f). In addition, for any fiscal year that has been completed at the time of the Executive’s termination, the Company shall pay to the Executive the annual bonus (limited to the portion of such annual bonus scheduled to be paid in cash) under Section 5(b) to the extent earned based on performance in the completed year, without any exercise of negative discretion except as such exercise of negative discretion may be consistent with the exercise of negative discretion for executive officers of the Company whose employment is not then contemplated to terminate payable in a single lump sum as soon 2The multiplier rangers from ONE to THREE (Chief Executive Officer) depending upon executive position. as practicable, but in no event more than 30 days following the Date of Termination, subject to Section 7(f);
Pro Rata Annual Incentive. In lieu of any annual incentive compensation under Section 4(b) for the year in which Executive’s employment terminated, an amount equal to the Executive’s target annual incentive compensation for the year of termination, multiplied by a fraction the numerator of which is the number of days Executive was employed in the year of termination and the denominator of which is the total number of days in the year of termination. In addition, for any fiscal year that has been completed at the time of Executive’s termination, the Company shall pay to Executive the annual incentive under Section 5(b) to the extent earned based on performance in the completed year, without any exercise of negative discretion except as such exercise of negative discretion may be consistent with the exercise of negative discretion for executive officers of the Company whose employment is not then contemplated to terminate;
Pro Rata Annual Incentive. In lieu of any annual incentive compensation under Section 4(b) for the year in which Executive’s employment terminated, an amount equal to the Executive’s target annual incentive compensation for the year of termination, multiplied by a fraction the numerator of which is the number of days Executive was employed in the year of termination and the denominator of which is the total number of days in the year of termination payable in a single lump sum as soon as practicable, but in no event more than 30 days following the Date of Termination, subject to Section 7(f). In addition, for any fiscal year that has been completed at the time of Executive’s termination, the Company shall pay to Executive the annual incentive under Section 5(b) to the extent earned based on performance in the completed year, without any exercise of negative discretion except as such exercise of negative discretion may be consistent with the exercise of negative discretion for executive officers of the Company whose employment is not then contemplated to terminate payable in a single lump sum as soon as practicable, but in no event more than 30 days following the Date of Termination, subject to Section 7(f);
