Designated Officers Bonus Payment

Designated Officers Bonus Payment. In the case of a Designated Officer, two annual bonus payments as calculated under, and payable at the times contemplated in, the Company's Senior Executive Bonus Plan or Target Bonus Plan (each a 'Bonus Plan') in effect prior to the Change of Control and adjusted as provided in the next sentence. In making the calculations under the Bonus Plan, the Participant's 'Base Salary' (as defined therein) shall be the annual rate in effect immediately prior to the date of Termination or the effective... date of the Change of Control, whichever is higher, and the applicable 'Bonus Factor' (as defined therein) in each case shall be 1.0 without regard to the Company's actual performance under the performance measures during the measurement period. View More