Prorated Bonus Payment. An amount equal to the product of (A) Executive’s annual bonus amount3 for the year immediately preceding year in which the Change of Control occurs and (B) a fraction, the numerator of which is the number of days from January 1 through the Termination Date, and the denominator of which is 365 (such amount, the “Prorated Bonus Payment”); 2 “Bonus amount” shall include the cash bonus and preferred stock dividend, if any, paid to Executive. 3 “Bonus amount” shall include the cash bonus and preferred stock dividend, if any, paid to Executive.
Prorated Bonus Payment. Employee acknowledges and agrees that Company’s Board of Directors has not approved a target bonus payout amount for Employee for the current fiscal year and that Employee is not entitled to any bonus payment. Notwithstanding the above, Company agrees to provide Employee with an amount equal to Employee’s proposed annual target bonus for 2013, with such bonus amount determined assuming that all of the performance objectives for such fiscal year have been attained, prorated for the current fiscal year, of One Hundred Fifty Thousand Dollars ($150,000), less all applicable federal and state income and employment taxes (“Bonus Payment”). The Bonus Payment will be paid out to Employee in a lump sum within ten (10) days following the Effective Date of this Separation Agreement described below.
Prorated Bonus Payment. The Company will pay you a prorated annual bonus for Fiscal Year 2001 at target level, in the amount of $206,250, representing the five and one-half months that you were employed by the Company in Fiscal Year 2001. The prorated
Prorated Bonus Payment. An amount equal to the product of (A) Executive’s target annual bonus amount for the year of termination and (B) a fraction, the numerator of which is the number of days from January 1 through the Termination Date, and the denominator of which is 365 (such amount, the “Prorated Bonus Payment”);
Prorated Bonus Payment. An Executive shall receive his target bonus or incentive payment for the year in which termination occurs, pro rated through the date of termination and less applicable withholding, paid within thirty (30) days of termination of employment.
Prorated Bonus Payment. In consideration for Essex’s agreement to provide Employee with a prorated annual bonus payment of $435,000, less applicable payroll deductions, within fourteen (14) business days following the Effective Date (defined below), Employee agrees to the terms and conditions set forth herein, including the release of claims in Section 8 below. Employee acknowledges this is consideration beyond that to which he is otherwise entitled.
