Common use of Special Bonus Clause in Contracts

Special Bonus. In addition to Annual Base Salary and Annual Bonus payable as hereinabove provided, if the Executive remains employed with the Company and its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the greater of (1) the Annual Bonus paid or payable, including by reason of any deferral, to the Executive (and annualized for any fiscal year consisting of less than twelve full months or for which the Executive has been employed for less than twelve full months) for the most recently completed fiscal year during the Employment Period, if any, and (2) the Recent Average Bonus (such greater amount shall be hereinafter referred to as the "Highest Annual Bonus"). The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

Appears in 4 contracts

Samples: Executive Employment Agreement (Navidec Inc), Executive Supplemental Employment Agreement (Peach Auto Painting & Collision Inc), Executive Supplemental Employment Agreement (Highwoods Realty LTD Partnership)

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Special Bonus. In addition to Annual Base Salary and Annual ------------- Bonus payable as hereinabove provided, if the Executive remains employed with the Company and and/or its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the greater of (1x) the Annual Bonus paid or payable, including by reason of any deferral, to the Executive payable (and annualized for any fiscal year consisting of less than twelve full months or for which the Executive has been employed for less than twelve full months) to the Executive for the most recently completed fiscal year during the Employment Period, if any, and (2y) the Recent Average Annual Bonus (such greater amount shall be hereinafter hereafter referred to as the "Highest Annual Bonus"). The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

Appears in 4 contracts

Samples: Change of Control Agreement (Hologic Inc), Change of Control Agreement (Hologic Inc), Change of Control Agreement (Hologic Inc)

Special Bonus. In addition to Annual Base Salary and ------------- Annual Bonus payable as hereinabove provided, if the Executive remains employed with the Company and and/or its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the greater of (1x) the Annual Bonus paid or payable, including by reason of any deferral, to the Executive payable (and annualized for any fiscal year consisting of less than twelve full months or for which the Executive has been employed for less than twelve full months) to the Executive for the most recently completed fiscal year during the Employment Period, if any, and (2y) the Recent Average Annual Bonus (such greater amount shall be hereinafter hereafter referred to as the "Highest Annual Bonus"). The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

Appears in 3 contracts

Samples: Change of Control Agreement (Hologic Inc), Change of Control Agreement (Hologic Inc), Change of Control Agreement (Hologic Inc)

Special Bonus. In addition to Annual Base Salary and Annual Bonus payable as hereinabove providedBonus, if the Executive remains employed with the Company and its affiliated companies through the first six month anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special BonusSPECIAL BONUS") in recognition of the Executive's services during the crucial onesix-year month transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the greater of (1) the Annual Bonus paid or payable, including by reason of any deferral, to the Executive (and annualized for any fiscal year consisting of less than twelve full months or for which the Executive has been employed for less than twelve full months) for the most recently completed fiscal year during the Employment Period, if any, and (2) the Recent Average Bonus (such greater amount shall be hereinafter referred to as the "Highest Annual BonusHIGHEST ANNUAL BONUS"). The Special Bonus shall be paid no later than 30 days following the first six-month anniversary of the Effective Date.

Appears in 2 contracts

Samples: Employment Agreement (Ivax Corp /De), Employment Agreement (Ivax Corp /De)

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Special Bonus. In addition to Annual Base Salary and Annual Bonus ------------- payable as hereinabove herein above provided, if the Executive remains employed with the Company and its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the greater of (1) the Annual Bonus paid or payable, including by reason of any deferral, to the Executive (and annualized for any fiscal year consisting of less than twelve full months or for which the Executive has been employed for less than twelve full months) for the most recently completed fiscal year during the Employment Period, if any, and (2) the Recent Average Bonus (such greater amount shall be hereinafter referred to as the "Highest Annual Bonus"). The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

Appears in 2 contracts

Samples: Termination Benefits Agreement (Control Devices Inc), Termination Benefits Agreement (Control Devices Inc)

Special Bonus. In addition to Annual Base Salary and Annual Bonus payable as hereinabove provided, if the Executive remains employed with the Company and its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the greater of (1) the Annual Bonus paid or payable, including by reason of any deferral, payable to the Executive (and annualized for any fiscal year consisting of less than twelve full months or for which the Executive has been employed for less than twelve full months) for the most recently completed fiscal year during the Employment Period, if any, and (2) the Recent Average Bonus (such greater amount shall be hereinafter referred to as the "Highest Annual Bonus"). The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

Appears in 1 contract

Samples: Change of Control Agreement (Delchamps Inc)

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