Pro-Rated Bonus. Executive will be paid, within 10 days after the Release Deadline, a pro-rated Cash Bonus for the fiscal year in which Executive terminates employment equal to (x) the Target Bonus multiplied by (y) a fraction, the numerator of which is the number of days in the fiscal year through the termination date and the denominator of which is 365.
Appears in 5 contracts
Samples: Employment Agreement (Granite Point Mortgage Trust Inc.), Employment Agreement (Granite Point Mortgage Trust Inc.), Employment Agreement (Granite Point Mortgage Trust Inc.)