Termination Benefits definition

Termination Benefits means the benefits described in Section 4.1(b).

Termination Benefits will mean and include the following:

Termination Benefits payable in accordance with paragraphs 4 and 5 are the following payments and benefits:

Examples of Termination Benefits in a sentence

• The allocation of the reduction required hereby among the Termination Benefits provided by Section 5 shall be determined by Executive.

• The allocation of the reduction required hereby among the Termination Benefits shall be determined by the Executive.

• If Executive and Executive’s dependents continue coverage pursuant to COBRA following the conclusion of the Covered Termination Benefits Period, Executive will be responsible for the entire payment of such premiums required under COBRA for the duration of the COBRA period.

• The Termination Benefits provided under Section 3 shall not be treated as damages, but rather shall be treated as severance compensation to which the Executive is entitled.

• If the conditions set forth in the preceding sentence are not satisfied by Executive, the Termination Benefits hereunder shall be forfeited.

More Definitions of Termination Benefits

Termination Benefits means:

Termination Benefits means (i) a lump sum cash payment equal to 100% of the sum of (A) Executive’s annual base salary at the rate in effect under paragraph 3.1 on the date of termination of Executive’s employment and (B) the highest annual incentive compensation payment paid to Executive by Company (pursuant to paragraph 3.2 or otherwise) during the three years prior to the date of termination of Executive’s employment, and (ii) all of the outstanding stock options, restricted stock or unit awards and other equity based awards granted by Company to Executive shall become fully vested and immediately exercisable in full on the date of termination of Executive’s employment; provided, however, that if a Change in Control occurs prior to the earlier of the consummation of an Initial Public Offering and June 30, 2007 and the Executive’s employment is terminated prior to the consummation of such Change in Control, then the percentage used in clause (i) of this definition shall be zero.

Termination Benefits means (i) a lump sum cash payment equal to the sum of: (A) one year of Executive’s annual base salary at the rate in effect under paragraph 3.1 on the date of termination of Executive’s employment, (B) the higher of (1) Executive’s highest annual bonus paid during the three most recent fiscal years or (2) Executive’s Target Bonus (as provided in Company’s annual cash incentive plan) for the fiscal year in which Executive’s date of termination occurs, and (C) any bonus that Executive has earned and accrued as of the date of termination of Executive’s employment which relates to periods that have ended on or before such date and which have not yet been paid to Executive by Company; and (ii) Health Coverage.

Termination Benefits means the aggregate of all of the following:

Termination Benefits means (i) a lump sum cash payment equal to 3 times Key Employee’s “Base Amount”, less $1.00.

Termination Benefits. The payments and benefits described in Section 5 of this Agreement.

Termination Benefits means the benefit set forth in Section 5.3.