Common use of Target Bonus Amount Clause in Contracts

Target Bonus Amount. Executive shall also receive an amount equal to the Target Bonus Amount, multiplied by one point five (1.5), payable in a lump sum within sixty (60) days following the termination date and subject to required payroll deductions and tax withholdings; provided, however that, if the period for satisfaction of the Release Requirement (as defined below) begins in one taxable year and ends in another taxable year, payment shall not be made until the beginning of the second taxable year. For purposes of calculating the Target Bonus Amount, Executive’s final Base Salary will be calculated prior to giving effect to any reduction in Base Salary that would give rise to Executive’s right to resign for Good Reason.

Target Bonus Amount. Executive shall also receive an amount equal to [XX]% of the Target Bonus Amount, multiplied by one point five (1.5), payable in a lump sum within sixty (60) days following the termination date and subject to required payroll deductions and tax withholdings; provided, however that, if the period for satisfaction of the Release Requirement (as defined below) begins in one taxable year and ends in another taxable year, payment shall not be made until the beginning of the second taxable year. For purposes of calculating the Target Bonus Amount, Executive’s final Base Salary will be calculated prior to giving effect to any reduction in Base Salary that would give rise to Executive’s right to resign for Good Reason.