Prorated Incentive Bonus. Executive will receive a lump sum severance payment equal to Executive’s prorated bonus for any partial incentive bonus period (based on the number of days Executive remained an employee of the Company) through the date of Executive’s termination of employment (at an assumed 100% on-target achievement of applicable goals) to the extent not already paid, at the target level in effect for the period that provides the highest target bonus amount among the following: (i) the fiscal year in which Executive’s termination of employment occurs (unless the termination occurs as a result of clause (iv) of the definition of “Good Reason” under Section 7(f) below, in which case the amount under this clause (i) will be equal to Executive’s target bonus in effect prior to such reduction), (ii) the fiscal year in which the Change in Control occurs, and (iii) the fiscal year preceding the year in which the Change in Control occurs. Such amount will be paid within the Applicable Payment Period.
Prorated Incentive Bonus. Executive will receive a lump sum severance payment equal to Executive’s prorated bonus for any partial incentive bonus period (based on the number of days Executive remained an employee of the Company) through the date of Executive’s termination of employment (based upon actual performance of the applicable performance goals through the date of such termination) to the extent not already paid. Such amount will be paid within the Applicable Payment Period.
Prorated Incentive Bonus. Executive will receive a lump sum severance payment equal to the sum of (i) Executive’s prorated bonus for any partial incentive bonus period (based on the number of days Executive remained an employee of the Company) through the date of Executive’s termination of employment (based upon and subject to actual performance through the date of such termination as compared to the applicable performance goals (prorated to the extent determined in good faith by the administrator of the applicable bonus plan) and the terms of applicable bonus plan) to the extent not already paid, and (ii) Executive’s bonus for the last completed incentive bonus period prior to the date of Executive’s termination of employment to the extent not already paid (based upon and subject to actual achievement of the applicable performance goals and the terms of applicable bonus plan). Any such amount will be paid within the Applicable Payment Period or if later, at the time provided in the applicable bonus plan.
Prorated Incentive Bonus. Executive will receive a lump sum severance payment equal to the sum of (i) Executive’s prorated target bonus for any partial incentive bonus period (based on the number of days Executive remained an employee of the Company) through the date of Executive’s termination of employment (based upon and subject to the terms of applicable bonus plan with performance) to the extent not already paid, and (ii) Executive’s bonus for the last completed incentive bonus period prior to the date of Executive’s termination of employment to the extent not already paid (based upon and subject to actual achievement of the applicable performance goals and the terms of applicable bonus plan). Any such amount will be paid within the Applicable Payment Period or if later, at the time provided in the applicable bonus plan.
Prorated Incentive Bonus. The Company agrees to pay the Executive an amount equal to the amount he would have otherwise received under the Company’s Annual Incentive Arrangement (the “AIA”) for the 2012 Performance Period (as defined under the AIA) had his employment not ended on the Effective Date, multiplied by a fraction, the numerator of which is the number of days in the period commencing on January 1, 2012 and ending on the Effective Date (inclusive) and the denominator of which is 366. One-half of such amount shall be paid at the same general time in 2013 that participants under the AIA receive payments for the 2012 Performance Period, and one-half of such amount shall be paid on the one-year anniversary of the Effective Date.
Prorated Incentive Bonus. Xx. Xxxxxxx hereby agrees to accept a payment of the sum of $146,268, less normal withholdings and deductions, paid to him in full satisfaction of any incentive bonus payment owing to him from the Company.
