Severance Payments. Continuation of payments in an amount equal to # Executive’s then-current Base Salary for a period of twelve (12) months, and # an amount equal to the target Annual Performance Bonus to which Executive may have been entitled for the year in which Executive’s employment terminates, prorated to reflect that portion of the year in which Executive was employed, less all customary and required taxes and employment-related deductions, which amounts shall be paid over time in accordance 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 Section 4(e) becomes effective and non-revocable, but not after seventy (70) days following the effective date of 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 separation from service.
Severance Payments. Continuation of payments in an amount equalThe payment to # Executive’s then-current Base Salary for a period of twelve (12) months, and # an amount equal to the target Annual Performance Bonus to which Executive may have been entitled for the year in which Executive’s employment terminates, prorated to reflect that portion of the yearSeverance Amount in which Executive was employed, less all customary and required taxes and employment-related deductions, which amounts shall be paidsubstantially equal installments over time in accordance with Company’s normal payroll practices (provided such payments shall be made at least monthly),two years (with the first payment commencing on the first payroll date following the date on whichTermination Date), in accordance with Employer's payroll practices in effect as of the release of claims required by Section 4(e) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment; provided,Effective Date ("Severance Period"), provided that if the 70th day falls in the calendar year followingevent such payroll practices change, in accordance with such new payroll practices, but only if any such change in payroll practices does not result in a payment being accelerated or delayed by more than thirty (30) days. Severance Amount means the year during whichproduct of # two and # the termination or separation from service occurred, then the payments will commencesum of Executive's Base Salary and Target Bonus 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 equaleffect immediately prior to the payments that would have come due since Employee’s separation from service.Date of Termination.
Severance Payments. ContinuationThe Company shall pay Executive severance in the form of payments in an amount equal to # Executive’continuation of Executives then-current Base Salary for a(#) months after the date of Executives Separation from Service. These salary continuation payments will be paid on the Companys regular payroll schedule, subject to standard deductions and withholdings, over the (#) month period of twelve (12) months, and # an amount equalfollowing Executives Separation from Service; provided, however, that no payments will be made prior to the target Annual Performance Bonus to which60th day following Executives Separation from Service. On the 60th day following Executives Separation from Service, the Company will pay Executive may have been entitled for the year in which Executive’s employment terminates, prorated to reflect that portion of the year in which Executive was employed, less all customary and required taxes and employment-related deductions, which amounts shall be paid over time in accordance 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 Section 4(e) becomes effective and non-revocable, but not after seventy (70) days following the effective date of 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 salary continuation payments that Executive would have come due since Employee’s separation from service.received on or prior to such date under the original schedule with the balance of the cash severance being paid as originally scheduled.
Lump Sum Severance Payments. ContinuationPayment. Payment of payments in ana lump sum amount equal to #twelve (12) months of Executive’s then-current Base Salary for a period of twelve (12) months, and # an amount equal to the target Annual Performance Bonus to which Executive may have been entitled for the year in which Executive’s employment terminates, prorated to reflect that portion of the year in which Executive was employed,Salary, less all customary and required taxes and employment-related deductions, which amounts shall be paid over time in accordance 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 Section 4(e) becomes effective and non-revocable, but not after seventy (70) days following the effective date of 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 separation from service.employment.
Severance Payments. Continuation of payments in an amount equal to 100% of the sum of # Executive’s then-currentBase Salary as of the date of Executive’s termination of employment and # the target incentive opportunity under the Annual Incentive Plan (calculated based on the Base Salary for the then-current fiscal year), payable in substantially equal installments during the 12-month period following the date of termination in accordance with the Company’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 Pay such sums shall be made as follows: # no payments shall be made for a six-month period following the date of twelve (12) months, andtermination, # an amount equal to the target Annual Performance Bonus to which Executive may have been entitled for the year in which Executive’s employment terminates, prorated to reflect that portionsix months of the year in which Executive was employed, less all customary and required taxes and employment-related deductions, which amountsSeverance Pay shall be paid over timein a lump sum six months and one day following the date of termination with interest at the applicable federal rate pursuant to Section 1274 of the Code, and # during the period beginning six months and one day following the date of termination through the remainder of the 12-month period, payment of the Severance Pay shall be made in accordance with the 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 Section 4(e) becomes effectivepractices; and non-revocable, but not after seventy (70) days following the effective date of 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 separation from service.
Severance Payments. ContinuationPayment. Executive will receive continuing payments of payments in an amount equal to # Executive’s then-current Base Salaryseverance for a period of twelve (12)six (6) months (such number of months, and # an amountthe “Standard Severance Period”) from the date of such termination of employment at a rate equal to the target Annual Performance Bonus to which Executive may have been entitled for the year in which Executive’s employment terminates, proratedbase salary as in effect immediately prior to reflect that portion of the year in which Executive was employed, less all customary and required taxes and employment-related deductions, which amounts shall be paid over time in accordance 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 whichof Executive’s termination of employment (disregarding any reduction in base salary that triggers the release of claims required by Section 4(e) becomes effective and non-revocable, but not after seventy (70) days following the effective date of 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 separation from service.right
Severance Payments. Continuation of payments in an amountPayment. Executive shall receive a cash payment equal to #twelve (12) months of Executive’s then-current Base Annual Salary for a period of twelve (12) months, and # an amount equal to(at the target Annual Performance Bonus to which Executive may have been entitled for the year in which Executive’s employment terminates, prorated to reflect that portionhighest Base Annual Salary) plus annual bonus compensation, at the time of the year in which Executive was employed, less all customary and required taxes and employment-related deductions, which amountsExecutive’s highest compensation level, if such bonus is earned prior to his employment with the Company terminating. Any such Severance Payment shall be paid over time in accordance with Company’s normal payroll practices (provided such payments shall be made at least monthly), commencing oncash by the first payroll date following the date on which the releaseCompany to Executive within ninety (90) days of claims required by Section 4(e) becomes effective and non-revocable, but not after seventy (70) days following the effective date of 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’Executive’s separation from service.termination.
Severance Payments. ContinuationPayment. Subject to the Executive signing and not revoking a release of paymentsclaims 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 the 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 #two times the Executive’s then-current Base Salary as of the Date of Termination, payable in substantially equal installments in accordance with the Corporation’s normal payroll policies commencing on the Date of Termination and continuing for a period of twelve (12)twenty-four (24) consecutive months, andplus # an amount equal to the target Annual Performance Bonus to whichthe Executive maywould have otherwise been entitledpaid for the fiscal year in which Executive’s employment terminates, proratedthe 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 reflect that portionother then-current senior executive officers of the Corporation under the then-applicable Short Term Plan for the fiscal year in which Executive was employed, less all customary and required taxes and employment-related deductions, which amounts shall be paid over time in accordance 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 releaseDate of claims required by Section 4(e) becomes effective and non-revocable, but not after seventy (70) days following the effective date of 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 separation from service.Termination occurs.
Severance Payments. Continuation of payments in an amount equal to #180% of Executive’s then-current Base Salary as of the date of termination, payable in substantially equal installments during the 12-month period following the date of termination in accordance with the Company’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 Pay such sums shall be made as follows: # no payments shall be made for a six-month period following the date of twelve (12) months, andtermination, # an amount equal to the target Annual Performance Bonus to which Executive may have been entitled for the year in which Executive’s employment terminates, prorated to reflect that portionsix months of the year in which Executive was employed, less all customary and required taxes and employment-related deductions, which amountsSeverance Pay shall be paid over timein a lump sum six months and one day following the date of termination with interest at the applicable federal rate pursuant to Section 1274 of the Code, and # during the period beginning six months and one day following the date of termination through the remainder of the 12-month period, payment of the Severance Pay shall be made in accordance with the 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 Section 4(e) becomes effectivepractices; and non-revocable, but not after seventy (70) days following the effective date of 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 separation from service.
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