Common use of Additional Benefits Upon Involuntary Termination Clause in Contracts

Additional Benefits Upon Involuntary Termination. In the event ------------------------------------------------ that Executive's employment with Sensormatic is involuntarily terminated (other than for Cause) within the 36-month period following an "approved" Change in Control: (i) Executive shall be entitled to receive, for each of the first 12 months immediately following the effective date of such termination and irrespective of whether Executive commences new employment within such period, the greatest of (A) 1/12 of the amount of Executive's most recent rate of annual salary, plus 1/12 of the amount of Executive's most recent annual bonus, (B) 1/12 of Executive's annual base salary and target bonus in effect immediately prior to the date of such Change in Control or (C) 1/12 of Executive's annual base salary and target bonus as specified in Section 2 hereof; (ii) If Executive has not commenced new regular, full time employment during the first 12 months following the effective date of such termination, Executive shall receive for each of the 13th through 18th months following such effective date of termination in which Executive was not so employed for the entire month the amount payable under Section 7(b)(i) hereof; (iii) Within 30 days after the effective date of such termination, Sensormatic shall pay to Executive an amount equal to his pro rata annual bonus for the year in which termination occurs, based on the target bonus for such year, subject to the proviso in Section 6(c)(iii) hereof; and (iv) During that portion of the period set forth in Section 7(b)(i) hereof during which Executive has not commenced new regular, full time employment, Executive shall be entitled to all of the rights and compensation set forth in Section 6(c)(iv) hereof.

Appears in 9 contracts

Samples: Executive Employment Agreement (Sensormatic Electronics Corp), Executive Employment Agreement (Sensormatic Electronics Corp), Officer (Change of Control) Agreement (Sensormatic Electronics Corp)

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Additional Benefits Upon Involuntary Termination. In the event ------------------------------------------------ that Executive's employment with Sensormatic is involuntarily terminated (other than for Cause) within the 36-month period following an "approved" Change in Control: (i) Executive shall be entitled to receive, for each of the first 12 18 months immediately following the effective date of such termination and irrespective of whether Executive commences new employment within such period, the greatest of (A) 1/12 of the amount of Executive's most recent rate of annual salary, plus 1/12 of the amount of Executive's most recent annual bonus, (B) 1/12 of Executive's annual base salary and target bonus in effect immediately prior to the date of such Change in Control or (C) 1/12 of Executive's annual base salary and target bonus as specified in Section 2 hereof; (ii) If Executive has not commenced new regular, full time employment during the first 12 18 months following the effective date of such termination, Executive shall receive for each of the 13th 19th through 18th 24th months following such effective date of termination in which Executive was not so employed for the entire month the amount payable under Section 7(b)(i) hereof; (iii) Within 30 days after the effective date of such termination, Sensormatic shall pay to Executive an amount equal to his pro rata annual bonus for the year in which termination occurs, based on the target bonus for such year year, subject to the proviso in Section 6(c)(iii) hereof; and (iv) During that portion of the period set forth in Section 7(b)(i) hereof during which Executive has not commenced new regular, full time employment, Executive shall be entitled to all of the rights and compensation set forth in Section 6(c)(iv) hereof.

Appears in 3 contracts

Samples: Employment Agreement (Sensormatic Electronics Corp), Executive Employment Agreement (Sensormatic Electronics Corp), Employment Agreement (Sensormatic Electronics Corp)

Additional Benefits Upon Involuntary Termination. In the event ------------------------------------------------ that Executive's employment with Sensormatic is involuntarily terminated (other than for Cause) within the 36-month period following an "approved" Change in Control: (i) Executive shall be entitled to receive, for each of the first 12 months immediately following the effective date of such termination and irrespective of whether Executive commences new employment within such period, the greatest of (A) 1/12 of the amount of Executive's most recent rate of annual salary, plus 1/12 of the amount of Executive's most recent annual bonus, (B) 1/12 of Executive's annual base salary and target bonus in effect immediately prior to the date of such Change in Control or (C) 1/12 of Executive's annual base salary and target bonus as specified in Section 2 hereof; (ii) If Executive has not commenced new regular, full time employment during the first 12 months following the effective date of such termination, Executive shall receive for each of the 13th through 18th months following such effective date of termination in which Executive was not so employed for the entire month the amount payable under Section 7(b)(i) hereof; (iii) Within 30 days after the effective date of such termination, Sensormatic shall pay to Executive an amount equal to his pro rata annual bonus for the year in which termination occurs, based on the target bonus for such year year, subject to the proviso in Section 6(c)(iii) hereof; and (iv) During that portion of the period set forth in Section 7(b)(i) hereof during which Executive has not commenced new regular, full time employment, Executive shall be entitled to all of the rights and compensation set forth in Section 6(c)(iv) hereof.

Appears in 2 contracts

Samples: Executive Employment Agreement (Sensormatic Electronics Corp), Executive Employment Agreement (Sensormatic Electronics Corp)

Additional Benefits Upon Involuntary Termination. In the event ------------------------------------------------ that Executive's employment with Sensormatic is involuntarily terminated (other than for Cause) within the 36-month period following an "approved" Change in Control: (i) Executive shall be entitled to receive, for each of the first 12 months immediately following the effective date of such termination and irrespective of whether Executive commences new employment within such period, the greatest of (A) 1/12 of the amount of Executive's most recent rate of annual salary, plus 1/12 of the amount of Executive's most recent annual bonus, (B) 1/12 of Executive's annual base salary and target bonus in effect immediately prior to the date of such Change in Control or (C) 1/12 of Executive's annual base salary and target bonus as specified in Section 2 hereof; (ii) If Executive has not commenced new regular, full time employment during the first 12 months following the effective date of such termination, Executive shall receive for each of the 13th through 18th months following such effective date of termination in which Executive was not so employed for the entire month the amount payable under Section 7(b)(i7(b)(1) hereof; (iii) Within 30 days after the effective date of such termination, Sensormatic shall pay to Executive an amount equal to his pro rata annual bonus for the year in which termination occurs, based on the target bonus for such year year, subject to the proviso in Section 6(c)(iii) hereof; , and (iv) During that portion of the period set forth in Section 7(b)(i) hereof during which Executive has not commenced new regular, full time employment, Executive shall be entitled to all of the rights and compensation set forth in Section 6(c)(iv) hereof.

Appears in 1 contract

Samples: Executive Employment Agreement (Sensormatic Electronics Corp)

Additional Benefits Upon Involuntary Termination. In the event ------------------------------------------------ that Executive's employment with Sensormatic is involuntarily terminated (other than for Cause) within the 36-month period following an "approved" Change in Control: (i) Executive shall be entitled to receive, for each of the first 12 18 months immediately following the effective date of such termination and irrespective of whether Executive commences new employment within such period, the greatest of (A) 1/12 of the amount of Executive's most recent rate of annual salary, plus 1/12 of the amount of Executive's most recent annual bonus, (B) 1/12 of Executive's annual base salary and target bonus in effect immediately prior to the date of such Change in Control or (C) 1/12 of Executive's annual base salary and target bonus as specified in Section 2 hereof; (ii) If Executive has not commenced new regular, full time employment during the first 12 18 months following the effective date of such termination, Executive shall receive for each of the 13th 19th through 18th 24th months following such effective date of termination in which Executive was not so employed for the entire month the amount payable under Section 7(b)(i) hereof; (iii) Within 30 days after the effective date of such termination, Sensormatic shall pay to Executive an amount equal to his pro rata annual bonus for the year in which termination occurs, based on the target bonus for such year year, subject to the proviso in Section 6(c)(iii) hereof; and (iv) During that portion of the period set forth in Section 7(b)(i) hereof during which Executive has not commenced new regular, full time employment, Executive shall be entitled to all of the rights and compensation set forth in Section 6(c)(iv) hereof.

Appears in 1 contract

Samples: Executive Employment Agreement (Sensormatic Electronics Corp)

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Additional Benefits Upon Involuntary Termination. In the event ------------------------------------------------ that Executive's employment with Sensormatic is involuntarily terminated (other than for Cause) within the 36-month period following an "approved" Change in Control: (i) Executive shall be entitled to receive, for each of the first 12 24 months immediately following the effective date of such termination and irrespective of whether Executive commences new employment within such period, the greatest of (A) 1/12 of the amount of Executive's most recent rate of annual salary, plus 1/12 of the amount of Executive's most recent annual bonus, (B) 1/12 of Executive's annual base salary and target bonus in effect immediately prior to the date of such Change in Control or (C) 1/12 of Executive's annual base salary and target bonus as specified in Section 2 hereof; (ii) If Executive has not commenced new regular, full time employment during the first 12 24 months following the effective date of such termination, Executive shall receive for each of the 13th 25th through 18th 30th months following such effective date of termination in which Executive was not so employed for the entire month the amount payable under Section 7(b)(i) hereof; (iii) Within 30 days after the effective date of such termination, Sensormatic shall pay to Executive an amount equal to his pro rata annual bonus for the year in which termination occurs, based on the target bonus for such year, subject to the proviso in Section 6(c)(iii) hereof; and (iv) During that portion of the period set forth in Section 7(b)(i) hereof during which Executive has not commenced new regular, full time employment, Executive shall be entitled to all of the rights and compensation set forth in Section 6(c)(iv) hereof.

Appears in 1 contract

Samples: Executive Employment Agreement (Sensormatic Electronics Corp)

Additional Benefits Upon Involuntary Termination. In the event ------------------------------------------------ that Executive's employment with Sensormatic is involuntarily terminated (other than for Cause) within the 36-month period following an "approved" Change in Control: (i) Executive shall be entitled to receive, for each of the first 12 18 months immediately following the effective date of such termination and irrespective of whether Executive commences new employment within such period, the greatest of (A) 1/12 of the amount of Executive's most recent rate of annual salary, plus 1/12 of the amount of Executive's most recent annual bonus, (B) 1/12 of Executive's annual base salary and target bonus in effect immediately prior to the date of such Change in Control or (C) 1/12 1/2 of Executive's annual base salary and target bonus as specified in Section 2 hereof; (ii) If Executive has not commenced new regular, full time employment during the first 12 18 months following the effective date of such termination, Executive shall receive for each of the 13th 19th through 18th 24th months following such effective date of termination in which Executive was not so employed for the entire month the amount payable under Section 7(b)(i) hereof; (iii) Within 30 days after the effective date of such termination, Sensormatic shall pay to Executive an amount equal to his pro rata annual bonus for the year in which termination occurs, based on the target bonus for such year, subject to the proviso in Section 6(c)(iii) hereof; and (iv) During that portion of the period set forth in Section section 7(b)(i) hereof during which Executive has not commenced new regular, full time employment, Executive shall be entitled to all of the rights and compensation set forth in Section 6(c)(iv) hereof.

Appears in 1 contract

Samples: Executive Employment Agreement (Sensormatic Electronics Corp)

Additional Benefits Upon Involuntary Termination. In the event ------------------------------------------------ that Executive's employment with Sensormatic is involuntarily terminated (other than for Cause) within the 36-month period following an "approved" Change in Control: (i) Executive shall be entitled to receive, for each of the first 12 18 months immediately following the effective date of such termination and irrespective of whether Executive commences new employment within such period, the greatest of (A) 1/12 of the amount of Executive's most recent rate of annual salary, plus 1/12 of the amount of Executive's most recent annual bonus, (B) 1/12 of Executive's annual base salary and target bonus in effect immediately prior to the date of such Change in Control or (C) 1/12 of Executive's annual base salary and target bonus as specified in Section 2 hereof; (ii) If Executive has not commenced new regular, full time employment during the first 12 18 months following the effective date of such termination, Executive shall receive for each of the 13th 19th through 18th 24th months following such effective date of termination in which Executive was not so employed for the entire month the amount payable under Section 7(b)(i) hereof; (iii) Within 30 days after the effective date of such termination, Sensormatic shall pay to Executive an amount equal to his pro rata annual bonus for the year in which termination occurs, based on the target bonus for such year, subject to the proviso in Section 6(c)(iii) hereof; and (iv) During that portion of the period set forth in Section 7(b)(i) hereof during which Executive has not commenced new regular, full time employment, Executive shall be entitled to all of the rights and compensation set forth in Section 6(c)(iv) hereof.

Appears in 1 contract

Samples: Change of Control Agreement (Sensormatic Electronics Corp)

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