Deemed Bonus

Deemed Bonus. As of a given date during a Fiscal Year, Deemed Bonus shall mean the product of (a) the ratio of: (i) the sum of the Annual Bonuses paid or payable to the Executive with respect to all prior Fiscal Years since the Effective Date (but including the Gap Period), to (ii) the sum of all the Base Salary amounts paid or payable to the Executive with respect to all prior Fiscal Years ... since the Effective Date (but including the Gap Period), and (b) the sum of the Base Salary payments paid or payable to the Executive for the then current Fiscal Year through such date. Notwithstanding the foregoing, the Deemed Bonus for any termination of the Employment Period which occurs during the Gap Period shall be a pro-rated (based upon the number of days 2 of the Cap Period during which Executive was employed) portion of the Annual Bonus that would otherwise have been payable for the Gap Period and shall be calculated following the Gap Period. View More