Performance Year. Each calendar year beginning with January 1, 1997 shall be a "Performance Year." During the Term, if the Executive is employed by the Company for a part of a Performance Year, he shall receive a Bonus Award (as hereinafter defined) equal to the Bonus Award he would have received had he been employed for the entire Performance Year, MULTIPLIED BY a fraction, of which (i) the numerator is the number of days he was employed by the Company during such Performance Year and (ii) the denominator is 365; PROVIDED, HOWEVER, that if Executive's employment is terminated before the end of the Performance Year either (x) by the Board for Cause or (y) by the Executive without Good Reason, no Bonus Award shall be made for the related Performance Year (or part thereof).
Appears in 3 contracts
Sources: Employment Agreement (Viatel Inc), Employment Agreement (Viatel Inc), Employment Agreement (Viatel Inc)