Example ContractsClausesTermination Payment
Termination Payment
Termination Payment contract clause examples

Termination Payment. In the event of a Termination, as defined in Paragraph 3, Saia shall provide the Executive the following benefits:

Subject to the limits set forth in Section 8(a)(ii), for purposes of this Agreement, the “Termination Payment” shall be an amount equal to the Annual Cash Compensation multiplied by the number of years or fractional portion thereof remaining in the Employment Period determined as of the Termination Date, except that the Termination Payment shall not be less than the amount of Annual Cash Compensation. The Termination Payment shall be paid to the Executive in cash not later than ten business days after the Termination Date. The Executive shall not be required to mitigate the amount of the Termination Payment by securing other employment or otherwise, nor will such Termination Payment be reduced by reason of the Executive securing other employment or for any other reason.

Termination Payment. The Termination Payment shall be an amount equal to two (2) times the sum of # the Executive’s base salary in effect as of the Termination, or if higher, the Executive’s base salary that was in effect immediately prior to the Change in Control of the Company, plus # the greater of # the Executive’s target annual cash incentive for the Company’s fiscal year that includes the Termination Date or # the Executive’s target annual cash incentive for the fiscal year during which the Change in Control of the Company occurred. The Termination Payment shall be contingent on the Executive executing a general release of claims in substantially the same form as the Release and Waiver included as Exhibit A to this Agreement and the expiration of the revocation period applicable thereto, which execution must occur on or following the Termination Date but no later than forty-five (45)

Subject to the limits set forth in Section 8(a)(ii), for purposes of this Agreement, the “Termination Payment” shall be an amount equal to the Annual Cash Compensation multiplied by the number of years or fractional portion thereof remaining in the Employment Period determined as of the Termination Date, except that the Termination Payment shall not be less than the amount of Annual Cash Compensation. The Termination Payment shall be paid to the Executive in cash not later than ten business days after the Termination Date. The Executive shall not be required to mitigate the amount of the Termination Payment by securing other employment or otherwise, nor will such Termination Payment be reduced by reason of the Executive securing other employment or for any other reason.

Termination Payment. The Termination Payment shall be an amount equal to ​1 times the sum of # the Executive’s base salary in effect as of the Termination, or if higher, the Executive’s base salary that was in effect immediately prior to the Change in Control of the Company, plus # the greater of # the Executive’s target annual cash incentive for the Company’s fiscal year that includes the Termination Date or # the Executive’s target annual cash incentive for the fiscal year during which the Change in Control of the Company occurred. The Termination Payment shall be contingent on the Executive executing a general release of claims in substantially the same form as the Release and Waiver included as Exhibit

Termination Payment. In the event of a Termination, as defined in Paragraph 3, Saia shall provide the Executive the following benefits:

Subject to the limits set forth in Section 8(a)(ii), for purposes of this Agreement, the “Termination Payment” shall be an amount equal to the Annual Cash Compensation multiplied by the number of years or fractional portion thereof remaining in the Employment Period determined as of the Termination Date, except that the Termination Payment shall not be less than the amount of Annual Cash Compensation. The Termination Payment shall be paid to the Executive in cash not later than ten business days after the Termination Date. The Executive shall not be required to mitigate the amount of the Termination Payment by securing other employment or otherwise, nor will such Termination Payment be reduced by reason of the Executive securing other employment or for any other reason.

Upon termination by BBB according to [Section 18.4(a)], ​.

Termination Payment. The “Termination Payment” shall be an amount equal to the Annual Cash Compensation times [for CEO: three (3)][for CFO: two (2)]. The Termination Payment shall be paid to the Executive in cash equivalent # on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, without interest thereon, to the extent necessary for compliance with the requirements of Code [Section 409A(a)(2)(B)] relating to specified employees or # to the extent not so required, within fifteen (15) business days after the Termination Date provided that, in each case, the Executive signs and does not revoke a release of claims in the form attached hereto as Exhibit A if timely requested by the Company (provided further that, if the time during which the Executive may sign the release prior to payment includes two calendar years, the payment shall be made in the second calendar year). Notwithstanding the foregoing, in the event the Executive’s Termination Date is pursuant to Section 2(b), the Termination Payment shall be paid within ten (10) business days after the date of the Change in Control of the Company (as defined without reference to Section 2(b)), without interest. Such lump sum payment shall not be reduced by any present value or similar factor, and the Executive shall not be required to mitigate the amount of the Termination Payment by securing other employment or otherwise, nor will such Termination Payment be reduced by reason of the Executive securing other employment or for any other reason, except as provided in subsection # below. The Termination Payment shall be in lieu of, and acceptance by the Executive of the Termination Payment shall constitute the Executive’s release of any rights of the Executive to, any other cash severance payments under any Company severance policy, practice or agreement.

Termination Payment. The Employee shall be entitled to and paid a termination payment (the "Termination Payment") equal to two (2) years' Annual Base Salary as set forth in Section 4 based upon the then current salary level. The Termination Payment shall be made within 10 days of any termination pursuant to this Section 7(A).

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