Common use of Partial Bonus Clause in Contracts

Partial Bonus. In the event that the Board of Directors of GTE Corporation decides to terminate efforts to divest all or substantially all of the assets of Government Systems, on or about 45 days from the date of that decision (the "Termination Date"), you will receive a special bonus (a "Partial Bonus") equal, before withholding of applicable taxes, to 25% of the Transaction Completion Bonus you would have received under option B(1)(a), above, if the Transaction Completion had occurred on the Termination Date.

Appears in 2 contracts

Sources: Transition Agreement (Gte Corp), Transition Agreement (Gte Corp)