Common use of Base Salary and Target Bonus Clause in Contracts

Base Salary and Target Bonus. The Company shall continue to pay to the Executive the Base Salary in effect as of the date on which the Notice of Termination was delivered for one (1) year following the Termination Date (such period being the "Disability Continuation Period"), which amount shall be reduced by any amount payable to the Executive under any disability plan maintained by the Company for the benefit of the Executive. In addition, the Executive shall be entitled to receive a Target Bonus (i) for the year in which the Executive's employment is terminated prorated through the Termination Date equal to the highest Target Bonus that could have been earned in such year (which Target Bonus will be paid on the same schedule as Target Bonuses are paid to other senior employees of the Company) and (ii) during the Disability Continuation Period equal to the highest Target Bonus that could have been earned in the year in which the Termination Date occurred (which Target Bonus will be paid on the same schedule as Target Bonuses are paid to senior employees of the Company during the Disability Continuation Period).

Appears in 4 contracts

Samples: Employment Agreement (American Capital Strategies LTD), Employment Agreement (American Capital Strategies LTD), Employment Agreement (American Capital Strategies LTD)

AutoNDA by SimpleDocs

Base Salary and Target Bonus. The Company shall continue to pay to the Executive the Base Salary in effect as of the date on which the Notice of Termination was delivered for one (1) year following the Termination Date (such period being the "Disability Continuation Period"), which amount shall be reduced by any amount payable to the Executive under any disability plan maintained by the Company for the benefit of the Executive. In addition, the Executive shall be entitled to receive a Target Bonus (i) for the year in which the Executive's ’s employment is terminated prorated through the Termination Date equal to the highest Target Bonus that could have been earned in such year (which Target Bonus will be paid on the same schedule as Target Bonuses are paid to other senior employees of the Company) and (ii) during the Disability Continuation Period equal to the highest Target Bonus that could have been earned in the year in which the Termination Date occurred (which Target Bonus will be paid on the same schedule as Target Bonuses are paid to senior employees of the Company during the Disability Continuation Period).

Appears in 2 contracts

Samples: Employment Agreement (American Capital Strategies LTD), Employment Agreement (American Capital Strategies LTD)

Base Salary and Target Bonus. The Company shall continue to pay to the Executive the Base Salary in effect as of the date on which the Notice of Termination was delivered for one two (12) year years following the Termination Date (such period being the "Disability Continuation Period"), which amount shall be reduced by any amount payable to the Executive under any disability plan maintained by the Company for the benefit of the Executive. In addition, the Executive shall be entitled to receive a Target Bonus (i) for the year in which the Executive's employment is terminated prorated through the Termination Date equal to the highest Target Bonus that could have been earned in such year (which Target Bonus will be paid on the same schedule as Target Bonuses are paid to other senior employees of the Company) and (ii) during the Disability Continuation Period equal to the highest Target Bonus that could have been earned in the year in which the Termination Date occurred (which Target Bonus will be paid on the same schedule as Target Bonuses are paid to senior employees of the Company during the Disability Continuation Period).

Appears in 1 contract

Samples: Employment Agreement (American Capital Strategies LTD)

Base Salary and Target Bonus. The Company shall continue to pay to the Executive the Base Salary in effect as of the date on which the Notice of Termination was delivered for one (1) year following the Termination Effective Date (such period being the "Disability Continuation Period"), ) which amount shall be reduced by any amount payable to the Executive under any disability plan maintained by the Company for the benefit of the Executive. In addition, the Executive shall be entitled to receive a Target Bonus (i) for the year in which the Executive's employment is terminated prorated through the Termination Date equal to based on the highest Target Bonus that could have been earned in such year (which Target Bonus will be paid on the same schedule as Target Bonuses are paid to other senior employees of the Company) and (ii) during the Disability Continuation Period equal to computed at the highest Target Bonus that could have been earned in the year in which the Termination Effective Date occurred (which Target Bonus will be paid on the same schedule as Target Bonuses are paid to senior employees of the Company during the Disability Continuation Period).

Appears in 1 contract

Samples: Employment Agreement (American Capital Strategies LTD)

AutoNDA by SimpleDocs

Base Salary and Target Bonus. The Company shall continue to pay to the Executive the Base Salary in effect as of the date on which the Notice of Termination was delivered for one (1) year following the Termination Date (such period being the "Disability Continuation Period"), which amount shall be reduced by any amount payable to the Executive under any disability plan maintained by the Company for the benefit of the Executive. In addition, the Executive shall be entitled to receive a Target Bonus (i) for the year in which the Executive's employment is terminated prorated through the Termination Date equal to the highest Target Bonus that could have been earned in such year (which Target Bonus will be paid on the same schedule as Target Bonuses are paid to other senior employees of the Company) and (ii) during the Disability Continuation Period equal to at the highest Target Bonus that could have been earned in the year in which the Termination Date occurred (which Target Bonus will be paid on the same schedule as Target Bonuses are paid to senior employees of the Company during the Disability Continuation Period).

Appears in 1 contract

Samples: Employment Agreement (American Capital Strategies LTD)

Time is Money Join Law Insider Premium to draft better contracts faster.