Example ContractsClausesCash Based Severance
Cash Based Severance
Cash Based Severance contract clause examples

Cash Severance. The Company will pay you a lump sum cash payment in an amount equal to twelve (12) months of your base salary rate in effect as of the Separation Date (in the total amount of $375,000), subject to applicable deductions and withholdings. If owed, this severance payment will be paid to you on June 30, 2022, provided that the Consultant End Date Release has become effective by such date.

Cash Severance. A lump sum cash amount equal to the product of [(x) and (y)])] where # is the sum of Executive’s Annual Base Salary as then in effect in accordance with Section 2.1 and Executive’s Average Bonus and # is 2.0.

Cash Severance. An amount equal to the sum of # the product of # the Participant’s CIC Severance Multiplier multiplied by # the Participant’s Base Salary, # any annual bonus that has been earned for the Company’s prior fiscal year, but not yet paid, and # the product of # the Participant’s CIC Bonus Multiplier multiplied by # the Participant’s target annual cash bonus (assuming achievement of performance goals at 100% of target) for the fiscal year in which the Covered Termination occurs; provided that in clauses (i) and (iii), such amounts shall be calculated at the rate equal to the higher of # the rate in effect immediately prior to the Participant’s Covered Termination and # the rate in effect immediately prior to the Change in Control. The foregoing amounts shall be payable in a cash lump-sum, less applicable withholdings, as soon as administratively practicable following the date the Release becomes effective and in any event, within 60 days following the date of the Covered Termination.

Cash-based Severance. A lump-sum severance payment equal to # the Monthly Factor multiplied by # Executive’s base salary as in effect on the Executive’s termination date, which amount will be paid on the first payroll period after the 60-day anniversary of Executive’s termination date.

Cash-based Severance. An amount equal to the sum of: # the product of # the Change In Control Monthly Factor multiplied by # Executive’s base salary as in effect on the Executive’s termination date PLUS # the product of # the Change in Control Monthly Factor multiplied by # Executive’s base salary as in effect on the Executive’s termination date multiplied by # Executive’s target annual cash bonus percentage in the year of Executive’s termination, which will be paid on the first payroll period after the 60-day anniversary of Executive’s termination date.

Cash Severance. The Company shall pay the Executive an amount equal to 0.75 multiplied by the Base Salary (the “Severance”). The Severance shall be paid in substantially equal installments in accordance with the Company’s normal payroll practices following the Date of Termination, but shall commence on the first payroll date following the effective date of the Release (as defined below) (the “Release Effective Date”), and amounts otherwise payable prior to such first payroll date shall be paid on such date without interest thereon.

Cash Severance. The Company will pay you, as severance, $990,522, which is the equivalent of eighteen (18) months of your base salary in effect as of the Retirement Date and 1.5 times the amount of your target annual bonus (the “Severance Payment”). The Severance Payment will be paid in a lump sum, subject to standard payroll deductions and withholdings, within five (5) business days after the earlier of: # the first business day that is six (6) months following the Retirement Date; or # your death.

Cash Severance. A lump sum cash amount equal to the product of [(x) and (y)])] where # is Executive’s Annual Base Salary as then in effect in accordance with Section 2.1 and # is 1.0.

Cash Severance. An amount equal to the sum of # the product of # the Participant’s Severance Multiplier multiplied by # the Participant’s Base Salary, and # any annual bonus that has been earned for the Company’s prior fiscal year, but not yet paid. The foregoing amounts shall be payable in a cash lump-sum, less applicable withholding, to be paid as soon as administratively practicable following the date the Release (defined below) is not subject to revocation and, in any event, within 60 days following the date of the Covered Termination.

Cash Severance. The Company will pay you, as cash severance, nine (9) months of your base salary in effect as of your Separation from Service date, less standard payroll deductions and tax withholdings; provided, however, in the event of a Qualifying Termination that occurs either within a month before or within twelve (12) months following the closing of a Change in Control (as defined below), the Company will instead pay you, as cash severance, twelve (12) months of your base salary and 100% of your target Annual Bonus in effect as of your Separation from Service date, less standard payroll deductions and tax withholdings (either such amount, the “Severance”). The Severance will be paid in installments in the form of continuation of your base salary payments and prorated amounts for your target Annual Bonus payments, if applicable, paid on the Company’s ordinary payroll dates, commencing on the Company’s first regular payroll date that is more than sixty (60) days following your Separation from Service date, and the first payment shall include any amount that would have been paid had the cash severance payments commenced on the Separation from Service Date.

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