Common use of Unpaid Bonus and Prorated Bonus Clause in Contracts

Unpaid Bonus and Prorated Bonus. The Company shall pay to Executive (aa) any unpaid Bonus earned by Executive with respect to the year immediately preceding the year of termination, if any, and (bb) a prorated bonus (the “Prorated Bonus”) for the calendar year of termination of Executive’s employment, calculated as the Bonus Executive would have received in such year based on actual performance multiplied by a fraction, the numerator of which is the number of business days during the calendar year of termination that Executive was employed and the denominator of which is the total number of business days during the calendar year of termination. The unpaid Bonus and the Prorated Bonus shall be payable when annual bonuses are paid to other senior executives of the Company, but in no event later than March 15 of the calendar year following the later of (1) the calendar year in which the Bonus is earned or (2) the calendar year in which the Bonus is no longer subject to a substantial risk of forfeiture within the meaning of Section 409A.

Appears in 5 contracts

Samples: Employment Agreement (Peabody Energy Corp), Employment Agreement (Peabody Energy Corp), Employment Agreement (Peabody Energy Corp)

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Unpaid Bonus and Prorated Bonus. The Company shall pay to Executive (aa) any unpaid Bonus earned by Executive with respect to the year immediately preceding the year of termination, if any, and (bb) a prorated bonus (the “Prorated Bonus”) for the calendar year of termination of Executive’s employment, calculated as the Bonus Executive would have received in such year based on actual performance multiplied by a fraction, the numerator of which is the number of business days during the calendar year of termination that Executive was employed and the denominator of which is the total number of business days during the calendar year of termination. The unpaid Bonus and the Prorated Bonus shall be payable when annual bonuses are paid to other senior executives of the Company, but in no event later than March 15 of the calendar year following the later of (1) the calendar year in which the Bonus is earned or (2) the calendar year in which the Bonus is no longer subject to a substantial risk of forfeiture within the meaning of Section 409A.

Appears in 1 contract

Samples: Employment Agreement (Peabody Energy Corp)

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Unpaid Bonus and Prorated Bonus. The Company shall pay to Executive (aaI) any unpaid Bonus earned by Executive with respect to the fiscal year immediately preceding the calendar year of termination, if any, and (bbII) a prorated bonus (the “Prorated Bonus”) for the calendar fiscal year of termination of Executive’s 's employment, calculated as the Bonus Executive would have received in such year based on actual performance multiplied by a fraction, the numerator of which is the number of business days during the calendar year of termination that Executive was employed and the denominator of which is the total number of business days during the calendar year of termination. The unpaid Bonus and the Prorated Bonus shall be payable when annual bonuses are paid to other senior executives of the Company, but in no event later than March 15 of the calendar year following the later of (1) the calendar year in which the Bonus is earned or (2) the calendar year in which the Bonus is no longer subject to a substantial risk of forfeiture within the meaning of Section 409A.

Appears in 1 contract

Samples: Employment Agreement (Peabody Energy Corp)

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