Common use of Bonus Calculation Clause in Contracts

Bonus Calculation. The pro rata bonuses pursuant to Section 3(c) payable to the Executive pursuant to Section 4(a), (b), (d), or (e) shall include any unpaid bonuses for the prior fiscal year. The pro rata bonuses for the fiscal year in which the termination occurs will be calculated at the end of the fiscal year in question according to the following method. The Company and/or Board shall determine the amount that would have been paid to the Executive as if he had remained employed through the end of the fiscal year and multiply that amount by the number of days of such fiscal year during which the Executive was employed by the Company divided by 365 days.

Bonus Calculation. The pro rata bonuses pursuant to Section 3(c) payable to the Executive pursuant to Section Subsections 4(a), (b), (d), or (e) shall include any unpaid bonuses for the prior fiscal year. The pro rata bonuses for the fiscal year in which the termination occurs will be calculated at the end of the fiscal year in question according to the following methodmethod and paid to Executive during the calendar year following the fiscal year but in no event later than the date on which the other executives awarded fiscal year bonuses are paid those bonuses. The Company and/or Board shall determine the amount that would have been paid to the Executive as if he had remained employed through the end of the fiscal year (the “Determined Bonus”) and multiply that amount by the number of days of such fiscal year during which the Executive was employed by the Company divided by 365 days.