Bonus Component

Bonus Component. The higher of (i) Executive's Target Bonus for the calendar year in which the Termination Date occurs (or, if Executive's Target Bonus for such calendar year is not yet determined as of the Termination Date, Executive's Target Bonus for the calendar year prior to the calendar year in which the Termination Date occurs) or (ii) the average of the Target Bonuses for the three most recent calendar years prior to the year in which the Termination Date occurs; provided, however, that if Executive was... not employed by the Company for each of such three most recent calendar years, then this clause (ii) will be equal to the average of Target Bonuses for such calendar years in which the Executive was employed by the Company. View More