Common use of Target Bonus Pro-Ration Clause in Contracts

Target Bonus Pro-Ration. For each full or partial month of employment which the Executive completes with the Corporation in the fiscal year in which his Involuntary Termination occurs, the Executive shall also be entitled to receive a lump sum cash payment equal to one-twelfth (1/12th) of the annual Target Bonus in effect for him for that year. Such lump sum payment shall be made within three (3) business days following the date the general release required of the Executive pursuant to Paragraph 13 and shall be subject to all applicable withholding requirements as set forth in Paragraph 3.C.

Target Bonus Pro-Ration. For each full or partial month of employment which the Executive completes with the Corporation in the fiscal year in which his Involuntary Termination the Change of Control occurs, the Executive shall also be entitled to receive a lump sum cash payment equal to one-twelfth (1/12th) of the annual Target Bonus in effect for him for that year. Such lump sum payment shall be made within three (3) business days following the date the general release required of the Executive pursuant to Paragraph 13 Change of Control and shall be subject to all applicable withholding requirements as set forth in Paragraph 3.C.