Pro-Rated Bonus Payment. A lump-sum cash payment equal to one hundred percent (100%) of the higher of (A) Employee’s target bonus as in effect for the fiscal year in which the Change of Control occurs or (B) Employee’s target bonus as in effect for the fiscal year in which Employee’s termination occurs, pro-rated by multiplying such bonus amount in clause (A) or (B), as applicable, by a fraction, the numerator of which shall be the number of days prior to Employee’s termination during such fiscal year, and the denominator of which shall be three-hundred and sixty-five.
Appears in 8 contracts
Samples: Management Retention Agreement (Palmsource Inc), Management Retention Agreement (Palm Inc), Management Retention Agreement (Palmsource Inc)
Pro-Rated Bonus Payment. A lump-sum cash payment equal to one hundred percent (100%) of the higher of (A) Employee’s target bonus as in effect for the fiscal year in which the Change of Control occurs or (B) Employee’s target bonus as in effect for the fiscal year in which Employee’s termination occurs, pro-rated by multiplying such bonus amount in clause (A) or (B), as applicable, by a fraction, the numerator of which shall be the number of days prior to Employee’s termination during such fiscal year, and the denominator of which shall be three-three hundred and sixty-five.
Appears in 4 contracts
Samples: Management Retention Agreement (Palmsource Inc), Management Retention Agreement (Palmsource Inc), Management Retention Agreement (Palmsource Inc)
