Prorated Annual Bonus. The Company shall pay the Executive an amount equal to the product of (A) the Executive’s target annual bonus for the year in which the Termination Date occurs (assuming all individual and business criteria are met at target levels) and (B) a fraction, the numerator of which is the number of days in the current fiscal year through the Termination Date, and the denominator of which is 365, in a lump-sum payment on the tenth business day after the Release Effective Date.
Prorated Annual Bonus. In addition, you will receive a payment equal to the product of (i) the Annual Bonus that you would have been entitled to receive if corporate and/or individual objectives and milestones were fully achieved for the calendar year in which the Separation Date occurs (less standard payroll deductions and applicable withholdings) and (ii) a fraction, the numerator of which is the number of days you were continuously employed by the Company during the year of termination and the denominator of which is the number of days in such year, to be paid periodically in installments during the CIC Severance Period in accordance with the Company’s normal payroll practices beginning on the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.6) has become effective.
Prorated Annual Bonus. Pursuant to Section 6(b)(ii) of the Change in Control Severance Agreement, the Company shall pay Xx. Xxxxxx a lump-sum payment in the gross amount of Fifty Nine Thousand Dollars and 43/100 ($59,000.43), subject to all applicable or customary tax withholding requirements.
Prorated Annual Bonus. You will be eligible to receive a prorated Annual Bonus (calculated as the Annual Bonus that would have been paid for the entire calendar year multiplied by a fraction, the numerator of which is equal to the number of days you worked in the applicable calendar year, and the denominator of which is equal to the total number of days in such year). The prorated Annual Bonus, if any, will be paid to you, subject to standard payroll deductions and withholdings, at the time such bonus is paid to similarly situated employees.
Prorated Annual Bonus. You will be entitled to a prorated annual bonus for fiscal year 2020 based on actual Company financial results and 100% of your individual component. Such bonus will be paid in the first quarter of fiscal year 2021 at the time annual bonuses are paid to continuing employees.
Prorated Annual Bonus. In accordance with Section 10(d)(ii)(C) of the Agreement, a prorated annual bonus for fiscal year 2003, based on the actual performance for such year, the amount of which prorated bonus, if any, shall be determined in the same manner as such bonuses are determined for other senior level executives of the Company and shall be paid at the same time that other senior level executives of the Company receive their payment.
Prorated Annual Bonus. With respect to the annual bonus for which the Executive was eligible under the Company’s annual incentive plan for the Fiscal Year in which the Termination Date occurs, the Company shall pay to the Executive an amount equal to the product of (A) the Executive’s Target Annual Bonus and (B) a fraction, the numerator of which is the number of days elapsed in the Fiscal Year in which the Termination Date occurs through the Termination Date, and the denominator of which is 365, in a single lump-sum cash payment within ten business days after the Release Effective Date (or such later date as may be required to comply with the provisions of Section 409A of the Code).
Prorated Annual Bonus. Executive shall receive an annual bonus for the 2023 fiscal year in an amount equal to twenty-five percent (25%) of Executive’s actual annual bonus for the 2022 fiscal year ($180,150), payable when 2023 annual bonuses are paid to executives of the Company generally.
Prorated Annual Bonus. Prorated Annual Bonus (determined using the actual performance achieved for the fiscal year in which such termination occurs) based on the number of days elapsed from the commencement of the fiscal year through and including the Termination Date, such bonus payable at the same time bonuses are paid to other senior executives of the Company. ● RSUs: All RSUs shall vested immediately on the Termination Date. ● SP-PSUs and PTP-PSUs: the award will be earned based on actual performance of the Company through the date of termination. PSUs will be earned pro rata through the Termination Date for any period of less than one year.
Prorated Annual Bonus. Prorated Annual Bonus (determined using the actual performance achieved for the performance year in which such termination occurs) based on the number of days elapsed from the commencement of the performance year through and including the Termination Date, such bonus payable at the same time bonuses are paid to other senior executives of the Company. ● Annual RSUs: Unvested RSUs are forfeited, provided that all unvested annual RSUs which would vest during the one-year period following termination of employment, shall vest. ● Sign-on RSUs: Unvested RSUs will immediately vest ● SP-PSUs and PTP-PSUs: If terminated during 5-year Performance Period, SP-PSUs and PTP-PSUs will be earned based on actual performance of the Company through the date of termination as if such date was the end of the Performance Periods. PSUs will be earned pro rata through date of termination. COBRA: Company pays, or reimburses, for the entire premium paid by Executive, for twelve (12) months following termination of employment or, if earlier, until Executive obtains new medical coverage. ● Cash lump-sum severance payment: a lump-sum payment of 1.0x Base Salary, with such payment to be made on the first payroll date following the Release becoming irrevocable.
