Benefits Upon a Change in Control. The Executive shall be entitled to the following benefits upon a Change in Control during the term of this Agreement: (a) the immediate vesting of all equity-based awards (including options, restricted stock, phantom stock and performance shares) granted to the Executive; (b) a lump sum cash payout of the Executive's annual bonus under the Company's applicable annual bonus program (the "Annual Bonus Program") for the year in which such Change in Control occurs, the amount of which shall be equal to the Executive's target or base incentive bonus possible under the Annual Bonus Program for that year; (c) a lump cash payment of all earned but unpaid amounts under the Annual Bonus Program unless the Executive elects prior to such Change in Control to defer such distribution under and in accordance with the Company's Compensation Deferral Plan. The payments under this Section 3 shall be made on the effective date of the Change in Control.
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Sources: Executive Severance Agreement (Milacron Inc), Executive Severance Agreement (Milacron Inc)
Benefits Upon a Change in Control. The Executive shall be entitled to the following benefits upon a Change in Control during the term of this Agreement:
(a) the immediate vesting of all equity-based awards (including options, restricted stock, phantom stock and performance shares) granted to the Executive;
(b) a lump sum cash payout of the Executive's ’s annual bonus under the Company's ’s applicable annual bonus program (the "“Annual Bonus Program"”) for the year in which such Change in Control occurs, the amount of which shall be equal to the Executive's ’s target or base incentive bonus possible under the Annual Bonus Program for that year;
(c) a lump sum cash payment of all earned but unpaid amounts under the Annual Bonus Program unless the Executive elects prior to such Change in Control to defer such distribution under and in accordance with the Company's ’s Compensation Deferral Plan. The payments under this Section 3 shall be made on the effective date of the Change in Control.
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