Bonus Continuation Clause Samples
Bonus Continuation. If Employee's employment by the Company is terminated by Employee or the Company pursuant to clause (i), (ii), (iv) or (v) of Section 4(a), then, in consideration for the execution by Employee of a release in form and substance satisfactory to the Company (which condition shall not apply in the event of termination pursuant to clause (i) of Section 4(a)), the Company shall pay to Employee or his estate, as the case may be, pursuant to Section 3(b) Employee's pro rata share of all amounts earned or accrued thereunder through such date of termination (subject to applicable withholdings pursuant to the Company's standard payroll practices). In the case of bonuses under Section 3(b) that are calculated based on an annual basis or other specified period of time, Employee, or his estate, as the case may be, shall receive payment of Employee's pro rata portion (subject to applicable withholdings pursuant to the Company's standard payroll practices) following the termination of the period for which such bonuses are calculated notwithstanding the fact that Employee is not employed by the Company on the last day of such period. If Employee's employment is terminated pursuant to clause (iii) or (vi) of Section 4(a), Employee's right to payments pursuant to all clauses of Section 3(b) shall immediately terminate, except as may otherwise be required by applicable law.
Bonus Continuation. Subject to Section 7 below, Executive shall be entitled to receive as severance the portion of the bonus or bonuses attributable to the financial targets set forth for the Company under the Company's Executive Incentive Plan (the "EIP") that Executive would have earned had his employment continued through January 31, 1998, determined in accordance with the EIP and based on the same percentage of base compensation used to calculate bonuses for Executive on the Effective Date and subject to the Company reaching the applicable financial targets set under the EIP or any other bonus plans. Any bonus payments payable to Executive hereunder shall be paid in accordance with the Company's current practice for paying bonuses commencing within two months after the Company's fiscal year-end.
Bonus Continuation. The Executive will be paid one-twelfth of his or her "average annual bonus", for each month of the period set forth on Exhibit A, such amount to be paid monthly commencing on the date of the termination without Cause or resignation for Good Reason. The "average annual bonus" shall mean the average of the Executive's bonuses in respect of each of the three calendar years preceding the year of the termination without Cause or resignation for Good Reason. If the bonus for any such year was zero, such amount shall be included in the average, unless the Executive was not employed and not eligible for a bonus in such calendar year.
Bonus Continuation. If Employee's employment by the Company is terminated pursuant to clause (i), (ii), (iv) or (v) of Section 4(a), the Company shall pay to Employee or his estate, as the case may be, pursuant to Section 3(b) Employee's pro rata share of all amounts earned or accrued thereunder through such date of termination. In the case of bonuses under Section 3(b) that are calculated based on an annual basis or other specified period of time, Employee, or his estate, as the case may be, shall receive payment of Employee's pro rata portion (subject to applicable withholdings pursuant to the Company's standard payroll practices) following the termination of the period for which such bonuses are calculated notwithstanding the fact that Employee is not employed by the Company on the last day of such period. If Employee's employment is terminated pursuant to clauses (iii) or (vi) of Section 4(a), Employee's right to payments pursuant to all clauses of Section 3(b) shall immediately terminate, except as may otherwise be required by applicable law.
Bonus Continuation. The Executive will be paid one-twelfth of his or her "annual target bonus", for each month of the period set forth on Exhibit A, such amount to be paid monthly commencing on the date of the termination without Cause or resignation for Good Reason. The "annual target bonus" shall mean an amount equal to one hundred percent (100%) of the Executive's bonus established for the year in which either the without Cause termination or resignation for Good Reason occurs.
Bonus Continuation. CBI shall also pay the Marketing Bonus to the Executive (or to the Executive's estate) on Levelized Compensation CBI receives within 12 months following the Executive's termination of employment, to the extent such amounts would otherwise have been included in calculating the Executive's Marketing Bonus but for the termination. CBI shall pay the bonus to the Executive quarterly based on fees and commissions received during such quarter.