Common use of Prorated Bonus Payment Clause in Contracts

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. An amount equal to the product of (A) Executive’s annual bonus amount3 amount for the year immediately preceding year in which the Change of Control Executive’s Termination Date 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.;