Amount in Event of a Termination Pursuant to. Section 7(a) or 7(c). In the event of a termination pursuant to Sections 7(a) or 7(c) of this Agreement, Special Severance shall consist of a total amount equal to 0.500 times the sum of Employee’s most recent annual base salary and annual target bonus, payable in equal installments on the same pay schedule as in effect at the time of termination over a period of twelve (12) months from the date of termination.
Appears in 12 contracts
Samples: Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co)
Amount in Event of a Termination Pursuant to. Section 7(a) or 7(c). In the event of a termination pursuant to Sections 7(a) or 7(c) of this Agreement, Special Severance shall consist of a total amount equal to 0.500 0.750 times the sum of Employee’s most recent annual base salary and annual target bonus, payable in equal installments on the same pay schedule as in effect at the time of termination over a period of twelve eighteen (1218) months from the date of termination.
Appears in 5 contracts
Samples: Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co /Ca), Officer Employment Agreement (Callaway Golf Co /Ca)
Amount in Event of a Termination Pursuant to. Section 7(a) or 7(c). In the event of a termination pursuant to Sections 7(a) or 7(c) of this Agreement, Special Severance shall consist of a total amount equal to 0.500 0.75 times the sum of Employee’s most recent annual base salary and annual target bonus, payable in equal installments on the same pay schedule as in effect at the time of termination over a period of twelve eighteen (1218) months from the date of termination.
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