Additional Compensation

Additional Compensation. Means Projected Annual Bonus amounts that, but for a Change in Control, would have been paid to any Employee, such amounts to be determined by the Company in good faith consistent with past practice. (a) If a Change in Control occurs on or before December 31 in any year, the Additional Compensation shall be calculated in accordance with a fraction, the numerator of which is the number of days the Employee was employed by the Company during the year and the dominator of which is 365 (which... amount shall be annualized in order to determine the next Projected Annual Bonus for the purposes of calculating the Executive, Key Manager and Regular Employee Payments to be made pursuant to this Plan). (b) If a Change in Control occurs in any year prior to the time the Company has paid Bonuses for the prior year, the Additional Compensation will consist of (i) a Bonus for such prior year (which will be deemed for the purposes of this Plan to be the most recent annual Bonus) and (ii) a payment for the year in which the Change in Control occurs which will be a pro rata portion of the Projected Annual Bonus for such year calculated in accordance with a fraction, the numerator of which is the total number of whole and partial months the Employee was employed by the Company during the year and the denominator of which is twelve. View More