Common use of Amount in the Event of a Termination Pursuant to Section 9 Clause in Contracts

Amount in the Event of a Termination Pursuant to Section 9. In the event of a termination pursuant to Section 9 of this Agreement, Employee shall be offered the opportunity to receive Incentive Payments in a total amount equal to 1.000 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 twenty-four (24) months from the date of termination. All such Incentive Payments shall be subject to the provisions of Section 9(c).

Appears in 11 contracts

Samples: Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co)

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Amount in the Event of a Termination Pursuant to Section 9. In the event of a termination pursuant to Section 9 of this Agreement, Employee shall be offered the opportunity to receive Incentive Payments in a total amount equal to 1.000 1.495 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 twentythirty-four six (2436) months from the date of termination. All such Incentive Payments shall be subject to the provisions of Section 9(c).

Appears in 7 contracts

Samples: Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co)

Amount in the Event of a Termination Pursuant to Section 9. In the event of a termination pursuant to Section 9 of this Agreement, Employee shall be offered the opportunity to receive Incentive Payments in a total amount equal to 1.000 1.00 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 twenty-four (24) months from the date of termination. All such Incentive Payments shall be subject to the provisions of Section 9(c).

Appears in 2 contracts

Samples: Officer Employment Agreement (Callaway Golf Co), Officer Employment Agreement (Callaway Golf Co)

Amount in the Event of a Termination Pursuant to Section 9. In the event of a termination pursuant to Section 9 of this Agreement, Employee shall be offered the opportunity to receive Incentive Payments in a total amount equal to 1.000 3.0 times the sum of Employee’s most recent then current annual base salary and annual target bonussalary, payable in equal installments on the same pay schedule as in effect at the time of termination over a period of twentythirty-four six (2436) months from the date of termination. All such Incentive Payments shall be subject to the provisions of Section 9(c).

Appears in 1 contract

Samples: Chief Executive Officer Employment Agreement (Callaway Golf Co)

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Amount in the Event of a Termination Pursuant to Section 9. In the event of a termination pursuant to Section 9 of this Agreement, Employee shall be offered the opportunity to receive Incentive Payments in a total amount equal to 1.000 1.5 times the sum of Employee’s most recent (a) then current annual base salary and (b) annual target bonusbonus opportunity for the last full year of employment prior to termination, payable in equal installments on the same pay schedule as in effect at the time of termination over a period of twentythirty-four six (2436) months from the date of termination. All such Incentive Payments shall be subject to the provisions of Section 9(c).

Appears in 1 contract

Samples: Chief Executive Officer Employment Agreement (Callaway Golf Co)

Amount in the Event of a Termination Pursuant to Section 9. In the event of a termination pursuant to Section 9 of this Agreement, Employee shall be offered the opportunity to receive Incentive Payments in a total amount equal to 1.000 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 twenty-four (24) months from the date of termination. All such Incentive Payments shall be subject to the provisions of Section 9(c).. 5 Xxxxxx Xxxx

Appears in 1 contract

Samples: Officer Employment Agreement (Callaway Golf Co)

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