Severance Payment. Executive shall receive a cash payment equal to twelve (12) months of Executive’s Base Annual Salary (at the Executive’s highest Base Annual Salary) plus annual bonus compensation, at the time of the Executive’s highest compensation level, if such bonus is earned prior to his employment with the Company terminating. Any such Severance Payment shall be paid in cash by the Company to Executive within ninety (90) days of the effective date of Executive’s termination.
Severance Payment. Executive shallwill receive continuing payments of severance for a cash paymentperiod of six (6) months (such number of months, the “Standard Severance Period”) from the date of such termination of employment at a rate equal to twelve (12) months of Executive’s Base Annual Salary (at the Executive’s highest Base Annual Salary) plus annual bonus compensation, at the time of the Executive’s highest compensation level, if such bonus is earnedbase salary as in effect immediately prior to his employment with the Company terminating. Any such Severance Payment shall be paid in cash by the Company to Executive within ninety (90) days of the effective date of Executive’s termination.termination of employment (disregarding any reduction in base salary that triggers the right
“(a) Severance. As soon as practicable after the Termination, but in any event no later than 10 business days following such Termination, the Company shall receivepay or cause to be paid to Executive, a lump sum cash paymentamount equal to twelve (12) monthsthree (3) times the sum of (i) Executive’s Base Annual Salary (atannual base salary on the Executive’s highest Base Annual Salary) plus annual bonus compensation,Effective Date (the “Base Salary”), and (ii) the Bonus. In addition, at the time of the above payment, Executive shall be entitled to an additional lump sum cash payment equal to the sum of (A) Executive’s highest compensation level, ifannual salary through the date of termination, (B) an amount equal to Executive’s annual aggregate bonuses, for any calendar year ending before such termination occurs, which would have been payable had Executive remained employed until the date such bonus would otherwise have been paid, (C) a pro rata portion of the Bonus (calculated through the date of termination); and (D) an amount, if any, equal to compensation previously deferred (excluding any qualified plan deferral) and any accrued vacation pay, in each case, in full satisfaction of Executive’s rights thereto. If payment of the amounts referred to herein is earned prior to his employment with the Company terminating. Any such Severance Payment shall be paid in cashnot made by the Company to Executive within ninety (90) dayssuch 10 day period, the Company shall pay Executive interest thereon at the rate of the effective date of Executive’s termination.10% per annum.”
An amount equal to twelve (12) months of Executive’s Base Annual Salary (at(in the Executive’s highest Base Annual Salary) plus annual bonus compensation, atamount in effect on ), payable in semi-monthly installments, beginning on the timesixtieth day after the Date of the Executive’s highest compensation level, if such bonus is earned prior to his employmentTermination. Severance payment shall be made in accordance with the Company terminating. Any such Severance Payment shall be paid in cash bycompany payroll practices with a lump sum payment due to Executive of any remaining severance amounts containing the Companycomplete remainder of all severance due to Executive within ninety (90)thirty days after the end of the effective date of Executive’s termination.Restricted Period.
Severance Payment. Subject to the Executive signing and not revoking a release of claims in a form prescribed by the Corporation and the Executive remaining in strict compliance with the terms of this Agreement and any other written agreements between the Corporation and the Executive, the Executive shall be entitled to receive a cash paymentthe following amount as severance pay, subject to such amount being reduced as provided below (referred to in this [Section 6(b)(iii)] as the “Severance Payment”): # an amount equal to twelve (12) months oftwo times the Executive’s Base Annual Salary (atas of the Executive’Date of Termination, payable in substantially equal installments in accordance with the Corporation’s highest Base Annual Salary)normal payroll policies commencing on the Date of Termination and continuing for twenty-four (24) consecutive months, plus annual bonus compensation,# an amount equal to the Bonus the Executive would have otherwise been paid for the fiscal year in which the Date of Termination occurs had the Executive remained employed by the Corporation through the payment date of any such Bonus, payable at the same time as bonuses are paid to other then-current senior executive officers of the Executive’s highest compensation level, if such bonus is earned prior to his employment withCorporation under the Company terminating. Any such Severance Payment shall be paidthen-applicable Short Term Plan for the fiscal year in cash bywhich the Company to Executive within ninety (90) daysDate of the effective date of Executive’s termination.Termination occurs.
The Executive shall receive a lump sum cash severance payment in an amount equal to twelve (12) months of Executive’s Base Annual Salary (at# 2.0 times the Executive’s highestannual Base Annual Salary) plus annual bonus compensation,Salary at the rate in effect at the time of the Executive’s highest compensation level, if suchtermination, plus # 2.0 times the greater of # the Executive’s average annual bonus is earned prior to his employment withpaid by the Company terminating. Any such Severance Paymentto the Executive for the three (3) fiscal years preceding the fiscal year in which the Executive’s termination of employment occurs, or # the annual bonus paid by the Company to the Executive for the last completed fiscal year. The severance amount shall be paid in cash by the Company to Executivea lump sum within ninety (90)thirty (30) days of the effective dateExecutive’s Termination of Executive’s termination.Employment.
The Company shall pay the Executive shall receive aan additional cash paymentseverance benefit in an amount equal to twelve (12) months of Executive’the Executives Base Annual Salary (at the Executive’s highest Base Annual Salary) plustarget annual bonus compensation, ataward for the timeyear of Executives Separation from Service, pro-rated based on the number of months (including partial months) of Executives service in the year of termination, but only if, as of the Executive’date of the Executives highest compensation level, if such bonus is earned prior to his employment withSeparation from Service, the Company terminating. Anyand the Executive were on target to achieve all applicable performance goals for such Severance Paymentannual bonus, as determined by the Board in its sole discretion. This amount, if any, shall be paid in cash bya single lump sum payment on the Company to Executive within ninety (90) daysfirst regular payroll date following the date of the effective date of Executive’Executives termination.Separation from Service, except as otherwise set forth in [Section (2)(a)(2)] above.
Severance Payment. Executive shall receive a cash paymentPayments. Continuation of payments in an amount equal to # Executive’s then-current Base Salary for a period of twelve (12) months ofmonths, and # an amount equal to the target Annual Performance Bonus to which Executive may have been entitled for the year in which Executive’s Base Annual Salary (at the Executive’s highest Base Annual Salary) plus annual bonus compensation, at the timeemployment terminates, prorated to reflect that portion of the Executive’s highest compensation level, if such bonus is earned prior to his employment with the Company terminating. Any such Severance Paymentyear in which Executive was employed, less all customary and required taxes and employment-related deductions, which amounts shall be paid over time in cashaccordance with Company’s normal payroll practices (provided such payments shall be made at least monthly), commencing on the first payroll date following the date on which the release of claims required by the Company to Executive within ninety (90)[Section 4(e)] becomes effective and non-revocable, but not after seventy (70) days offollowing the effective date of Executive’termination from employment; provided, that if the 70th day falls in the calendar year following the year during which the termination or separation from service occurred, then the payments will commence in such subsequent calendar year; provided further that if such payments commence in such subsequent year, the first such payment shall be a lump sum in an amount equal to the payments that would have come due since Employee’s termination.separation from service.
Amount and Payment of Cash Severance. The Corporation will make a cash payment (the “Cash Payment”) to Executive in an amount equal to twelve (12) monthsthe sum of # two times Executive’s Average Compensation and # Executive’s target annual bonus, if any, for the year in which employment terminates (with such calculations to be made as though the target level has been achieved for each performance goal), prorated by multiplying Executive’s target annual bonus by the number of days in the year completed through the date of Executive’s Base Annual Salary (at the Executive’s highest Base Annual Salary) plus annual bonus compensation, at the timetermination of the Executive’s highest compensation level, if such bonus is earned prior to his employment with the Company terminating. Any such Severancedivided by 365. The Cash Payment shall be paid in cash by the Company to Executive in a single lump sum within ninety (90)sixty days after termination of employment; provided, however, that if the effective date ofsixty day period overlaps two calendar years that the payment will be made in the later calendar year. If Executive dies after becoming entitled to the Cash Payment but before it has been paid, the Cash Payment will be made to Executive’s termination.designated beneficiary (or Executive’s estate if Executive fails to designate a beneficiary).
an amount equal to twelve (12) months180% of Executive’s Base Annual Salary (at the Executive’s highest Base Annual Salary) plus annual bonus compensation, at the timeas of the Executive’s highest compensation level, if such bonus is earned prior to his employmentdate of termination, payable in substantially equal installments during the 12-month period following the date of termination in accordance with the Company terminating. AnyCompany’s normal payroll practices (the “Severance Pay”); provided, however, that the first payment shall be on the pay day coinciding with or next following the sixtieth (60th) day after the date of termination, and such payment shall be equal to the amounts that would have been paid had payments begun immediately after the date of termination. Notwithstanding the foregoing, if necessary to comply with Section 409A(a)(2)(B)(i) of the Internal Revenue Code of 1986, as amended (the “Code”), and applicable administrative guidance and regulations, the payment of the Severance PaymentPay such sums shall be made as follows: # no payments shall be made for a six-month period following the date of termination, # an amount equal to six months of Severance Pay shall be paid in cash bya lump sum six months and one day following the Companydate of termination with interest at the applicable federal rate pursuant to Executive within ninety (90) daysSection 1274 of the effectiveCode, and # during the period beginning six months and one day following the date of Executive’termination through the remainder of the 12-month period, payment of the Severance Pay shall be made in accordance with the Company’s termination.normal payroll practices; and
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