Example ContractsClausesBonus Severance
Bonus Severance
Bonus Severance contract clause examples

Bonus Severance. A lump-sum payment equal to 100% of the Executive’s target annual bonus as in effect for the fiscal year in which the CIC Qualified Termination occurs.

Bonus Severance. A single, lump sum, cash payment equal to one hundred percent (100%) of Executive’s Target Bonus.

Bonus Severance. Executive will receive a lump-sum payment, which will become payable upon Executive’s termination of employment and will be paid in accordance with the Company’s regular payroll procedures, equal to one hundred percent (100%) of the higher of # Executive’s target Bonus as in effect for the fiscal year in which the Change in Control occurs or # Executive’s target Bonus as in effect for the fiscal year in which Executive’s termination of employment occurs; provided, in either case, the Company had not previously paid Executive a Bonus corresponding to such fiscal year. For avoidance of doubt, the amount paid to Executive pursuant to this Section 6(b)(ii) will not be prorated based on the actual amount of time Executive is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the termination occurs.

Bonus Severance Payment. Executive shall receive an additional severance payment in an amount equal to 100% of Executive's target annual bonus in effect for the fiscal year in which the Termination Date occurs (the “Bonus Severance Payment"). The Bonus Severance Payment shall be

Bonus Severance. If a Change in Control occurs during the Double-Trigger Period, Employee will receive a lump-sum payment equal to one hundred percent (100%) of the higher of # Employee’s target annual bonus as in effect for the fiscal year in which the Change in Control occurs or # Employee’s target annual bonus as in effect for the fiscal year in which Termination Date occurs; provided, in either case, the Company had not previously paid Employee an annual bonus corresponding to such fiscal year. Such payment will be paid, less applicable withholdings, on the later of # the Initial Payment Date or # on or as soon as administratively practicable after the Change in Control. For avoidance of doubt, the amount paid to Employee pursuant to this Section 4.b.ii will not be prorated based on the actual amount of time Employee is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the Termination Date occurs.

Bonus Severance Payment. Executive shall receive an additional severance payment in an amount equal to 100% of Executive’s target annual bonus in effect for the fiscal year in which the Termination Date occurs, paid on the first regular payroll date following the effective date of the Release subject to any delay in payment required by [Section 7(e)].

Bonus Severance. If Executive is participating in a performance bonus plan immediately prior to the termination date, Executive will receive a lump-sum payment, payable in accordance with the Company’s regular payroll procedures, equal to one hundred percent (100%) of the higher of # Executive’s target bonus as in effect for the fiscal year in which the Change in Control occurs or # Executive’s target bonus as in effect for the fiscal year in which Executive’s termination of employment occurs; provided, in either case, the Company had not previously paid Executive a bonus corresponding to such fiscal year. For avoidance of doubt, the amount paid to Executive pursuant to this Section 6(b)(ii) will not be prorated based on the actual amount of time Executive is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the termination occurs.

Bonus Severance Payment. A single, lump sum, cash payment equal to the greater of # Executive’s annual target bonus in effect for the fiscal year in which the termination occurs, or (if greater) in effect immediately prior to the Change of Control, or # the bonus Executive would receive for the fiscal year during which the termination occurs based on actual performance being accrued for financial accounting purposes at the time of termination against the performance goals applicable to Executive’s bonus arrangement in effect immediately prior to Executive’s termination date, in either case, which will be pro-rated for the period during the fiscal year Executive was employed by the Company.

Bonus Severance. A single, lump sum payment equal to 100% of the Executive’s target annual bonus as in effect for the fiscal year in which the Qualifying CIC Termination occurs, less applicable withholdings.

Bonus Severance. In addition, the Company shall provide Pennypacker with a pro-rata share of that amount to which he would have otherwise been eligible to receive as a bonus under the Company’s 2020 Short-Term Incentive Plan had he completed his current year of employment. The bonus severance shall be provided in a lump sum, less withholding and deductions, at the same time as short-term incentive bonus payments are provided to other executives in the Company (approximately March 1, 2021), so long as Pennypacker has not materially violated, in the Company’s exclusive determination exercised in good faith, any term of this Agreement.

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