Common use of Additional Bonus Compensation Clause in Contracts

Additional Bonus Compensation. The Company shall pay the Executive, at such time as other participants in the Bonus Plan are paid their respective bonuses, in respect of each of the two (2) Bonus Plan years immediately following the Termination Year, an amount equal to the greater of (A) the Executive's Target Bonus for the Termination Year; and (B) the Executive's actual annual incentive compensation paid or payable with respect to the plan year immediately preceding the Termination Year (whether or not deferred), provided that any actual bonus paid or payable in respect of calendar year 2004 shall be disregarded for purposes of this calculation, and provided, further, that the Company shall pay in respect of the last of such Bonus Plan years only a pro rata share of such annual bonus equal to the product of such bonus and a fraction, the numerator of which is the number of days during the Termination Year through and including the Termination Date and the denominator of which is 365;