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.
Appears in 1 contract
Bonus Continuation. Subject to Section 7 6 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.
Appears in 1 contract