Common use of Timing and Deferral of Annual Bonus Clause in Contracts

Timing and Deferral of Annual Bonus. The Annual Bonus for each year shall be paid to the Executive as soon as reasonably practicable following the end of such year, but in no event later than March 15th following the end of the calendar year to which such Annual Bonus relates.

Timing and Deferral of Annual Bonus. The Annual Bonus for each year shall be paid to the Executive as soon as reasonably practicable following the end of such year, but in no event later than March 15th following the end of the calendar year to which such Annual Bonus relates. Payment shall be based on the applicable pro-rata amounts for which Executive is eligible, if a Transition occurs in the middle of a calendar year.