Additional Severance. In addition to the payments provided for in Section 2.1 and 2.2, upon a CIC Termination or Non-CIC Termination, the following additional provisions shall apply:
Additional Severance. In lieu of any further salary and bonus payments to Executive for periods subsequent to the Date of Termination, or other severance payments, the Company will pay as severance pay to Executive two times the sum of:
Additional Severance. In the event of Executive’s termination of employment under Section 5.1 (Death) or Section 5.2 (Disability), a lump sum cash payment during the sixty-five (65) day period following the date on which Executive’s Separation from Service occurs in an amount equal to the excess of:
Additional Severance a. You or your legal representative, as the case may be, shall receive payment of $950,000, if, and only if, (i) your Termination Date is after December 31, 2021, but before March 31, 2022, and (ii) the Compensation Committee determines, in its sole and absolute discretion, that Activision Blizzard’s 2021 OI is 90% or greater than the 2021 OI Objective;
Additional Severance. In lieu of any further salary payments to you --------------------- for periods subsequent to the Date of Termination, the Company will pay as severance pay to you on the fifth (5th) business day following the Date of Termination a lump sum equal to three (3) times the sum of (i) your annual base salary at the highest rate in effect during the twelve (12) months immediately preceding the Date of Termination plus (ii) the higher of (A) the highest annual bonus paid to you or paid but deferred on your behalf under the Plan, (B) any earned, but unpaid, bonus accrued for your benefit under the Plan, or (C) your highest targeted annual bonus under the Plan, whether or not earned, in each case with respect to the three (3) calendar years immediately preceding the Date of Termination and the partial calendar year ending on the Date of Termination. For purposes of ITEM (C) above and SUBPARAGRAPH 5.3, the "highest targeted annual bonus under the Plan" for the partial calendar year ending on the Date of Termination will be your annual base salary as of the Date of Termination multiplied by the target percentage of your bonus under the Plan.
Additional Severance. Subject to Clause 3.5, if at any time either:
Additional Severance. In addition to the amount provided in Section 7(a) above, if Executive’s employment is terminated by the Executive for Good Reason or by the Company without cause, then (i) the Executive shall be entitled to receive, in equal payments over a two (2) year period, the Executive’s then-current annual Base salary (that is, two (2) years’ worth of annual Base Salary, paid out over two (2) years); and (ii) provided the Executive (and his spouse and dependents enroll, if covered at the time of the termination) timely enrolls in COBRA under the Company’s group medical insurance program, the Executive shall be entitled to receive (as shall his spouse and dependents, to the extent they were covered at the time of the termination) fully subsidized continuation coverage premiums under each of the Company’s “group health plans” subject to COBRA that are provided under the ION Geophysical Corporation Welfare Benefit Plan (“Plan”), in accordance with such Plan as in effect from time to time; provided, however that notwithstanding the Plan’s limitations on the maximum time period for COBRA coverage, the continuation coverage period for Executive (and his eligible dependents) shall continue for a period of two (2) years. The Company’s obligation under this clause shall be satisfied by the Company by paying the cost of the monthly continuation coverage premiums directly to the insurers on Executive’s (and any covered dependents’) behalf. The Company’s obligation to pay the foregoing continuation coverage premiums shall terminate on the earlier of the date (i) Executive (and his dependents) terminates continuation coverage under the Plan (unless Company is reimbursing Executive as set forth in clause (ii) next following); or (ii) Executive (and his dependents) are eligible to become covered by another employer-sponsored group health plan that materially duplicate the coverage paid for under the Plan (without regard to whether Executive becomes covered in such plan), provided, however, that if Executive becomes covered under another employer-sponsored group health plan, then Executive shall continue to receive the monthly reimbursement benefit from the Company for the lesser of (x) the amount of employee premiums that Executive or his wife, as applicable, is charged to secure such coverage, or (y) the amount of the monthly continuation coverage premiums Executive would otherwise be required to pay to receive continuation coverage under the Plan. In addition, the Executive sha...
Additional Severance. In lieu of any further salary and bonus payments to Executive for periods subsequent to the date of termination, or other severance payments, the Company will pay as severance pay to Executive the additional sum equal to: Executive’s annual base salary as of the date of Change in Control, or as of the date of termination, whichever is greater. The severance pay provided for in this Section 6D shall be transferred to a “Rabbi Trust,” effective as of the Date of Termination, and paid to Executive in twelve (12) equal monthly installments commencing on the first day of the next month following the date of termination, and on the first day of each subsequent month, until fully paid.
Additional Severance. In lieu of any further salary payments to you for periods subsequent to the Date of Termination, the Company will pay as severance pay to you on the fifth (5th) business day following the Date of Termination a lump sum equal to ( ) [2 or 3 depending on whether Tier II or I] times the sum of (a) your annual base salary at the highest rate in effect during the twelve (12) months immediately preceding the Date of Termination plus (b) your highest annual bonus earned under the Incentive Plan with respect to the three (3) calendar years immediately preceding the year in which the Date of Termination occurs.
Additional Severance. Subject to reduction as may be required under the Agreement, in the event a Change-in-Control occurs and Executive terminates employment for Good Reason during a Change-in-Control Period, or the Company terminates Executive’s employment without Cause (and for reason other than death or Total Disability) during a Change-in-Control Period, the Company will, subject to Executive’s execution of the Release, pay the payments and benefits provided for in Section 5.4 in the same form as provided therein and subject to the same terms and conditions thereunder; provided, however, that (i) the Company will pay Executive an amount equal to Executive’s Base Salary and Target Bonus (as then in effect) for twenty-four (24) months; and, (ii) each outstanding award under the Omnibus Plan that the Company granted to Executive will become fully vested. For purposes of the Agreement, “Change-in-Control” means a change-in-control as defined under the Omnibus Plan. For purposes of the Agreement, “Change-in-Control Period” means the period commencing on the date on which a Change-in-Control occurs and ending on the first anniversary of the date on which a Change-in-Control occurs.
