Pro-Rata Bonus Payment. In addition to any bonus Executive has earned but not yet been paid (e.g., for an annual bonus, with respect to a termination made following year-end but prior to payment), Executive will receive a lump-sum payment equal to the greater of (x) 75% of Executive’s most recent bonus actually paid, or (y) 75% of Executive’s on-target annual bonus for the year of termination, in either case of (x) or (y) pro-rated for the partial year of service.
Appears in 5 contracts
Samples: Separation and Change in Control Severance Agreement (Aerohive Networks, Inc), Separation and Change in Control Severance Agreement (Aerohive Networks, Inc), Separation and Change in Control Severance Agreement (Aerohive Networks, Inc)
Pro-Rata Bonus Payment. In addition to any bonus Executive has earned but not yet been paid (e.g., for an annual bonus, with respect to a termination made following year-end but prior to payment), Executive will receive a lump-sum payment equal to the greater of (x) 75% of Executive’s most recent annual bonus actually paid, or (y) 75100% of Executive’s on-target annual bonus for the year of termination, in either case of (x) or (y) pro-rated for the partial year of service.
Appears in 3 contracts
Samples: Separation and Change in Control Severance Agreement (Aerohive Networks, Inc), Separation and Change in Control Severance Agreement (Aerohive Networks, Inc), Separation and Change in Control Severance Agreement (Aerohive Networks, Inc)