Common use of AMOUNT OF SEVERANCE PAYMENTS Clause in Contracts

AMOUNT OF SEVERANCE PAYMENTS. If the Executive’s employment terminates as described in Section 3 above, and he becomes entitled to severance benefits under this Agreement, the Company, or any successor to the Company, shall pay to the Executive the following: (a) An amount equal to two (2) times the sum of the Executive’s Base Pay plus the Executive’s most recent short term Incentive target shall be paid to the Executive in a single lump sum cash payment within five (5) business days following the date that the Release Agreement becomes effective and irrevocable in accordance with its terms; provided, however, that in the event of a Qualifying Change in Control Termination, such amount shall instead equal two and a half (2.5) times the sum of the Executive’s Base Pay plus the Executive’s most recent short term Incentive target; and (b) The prorated short term Incentive program in effect for the year in which the Executive’s termination of employment occurs shall be paid to the Executive in a single lump sum cash payment within five (5) business days following the date that the Release Agreement becomes effective and irrevocable in accordance with its terms. The amount of the prorated short term Incentive program shall be determined by multiplying the Executive’s short term Incentive target for the full current year by a fraction, the numerator of which is the number of days from January 1 until the Executive’s termination of employment and the denominator of which is 365. Notwithstanding the foregoing, if the Executive is terminated on December 31 of any year, he will participate in the actual short term Incentive program for the year, based on applicable performance measure(s), and no proration shall apply.

AMOUNT OF SEVERANCE PAYMENTS. If the Executive’s 's employment terminates as described in Section 3 above, and he or she becomes entitled to severance benefits under this Agreement, the CompanyCorporation, or any successor to the CompanyCorporation, shall pay to the Executive the following: (a) An amount equal to two Three (23) times the sum of the Executive’s 's Base Pay plus the Executive’s 's most recent short term Incentive target shall be paid to the Executive in a single lump sum cash payment within five (5) business days as soon as practicable following the date that the Release Agreement becomes effective and irrevocable Executive's termination (but in accordance with its terms; provided, however, that in the no event of a Qualifying Change in Control Termination, later than 30 days after such amount shall instead equal two and a half (2.5) times the sum of the Executive’s Base Pay plus the Executive’s most recent short term Incentive target; andtermination); (b) The prorated short term Incentive program in effect for the year in which the Executive’s 's termination of employment occurs shall be paid to the Executive in a single lump sum cash payment within five (5) business days as soon as practicable following the date that the Release Agreement becomes effective and irrevocable Executive's termination (but in accordance with its termsno event later than 30 days after such termination). The amount of the prorated short term Incentive program shall be determined by multiplying the Executive’s 's short term Incentive target for the full current year by a fraction, the numerator of which is the number of days from January 1 until the Executive’s 's termination of employment and the denominator of which is 365. Notwithstanding the foregoing, if the Executive is terminated on December 31 of any year, he or she will participate in the actual short term Incentive program for the year, based on applicable performance measure(s), and no proration shall apply; and (c) The prorated long term Incentive program in effect for the year in which the Executive's termination of employment occurs shall be paid to the Executive at the time such long term Incentive program terminates (but in no event later than 30 days after such termination) if the Corporation is determined at that time to have achieved the long term Incentive target under such program. The amount of the prorated long term Incentive program shall be determined by multiplying the Executive's long term Incentive target for such long term period by a fraction, the numerator of which is the number of days from the inception of the long term program until the Executive's termination of employment and the denominator of which is 365.

AMOUNT OF SEVERANCE PAYMENTS. If the Executive’s 's employment terminates as described in Section 3 or 4 above, and he or she becomes entitled to severance benefits under this Agreement, the CompanyCorporation, or any successor to the CompanyCorporation, shall pay to the Executive the following: (a) An amount equal to two (2B) times the sum of the Executive’s 's Base Pay plus the Executive’s 's most recent short term Incentive target shall be paid to the Executive in a single lump sum cash payment within five (5) business days as soon as practicable following the date that the Release Agreement becomes effective and irrevocable Executive's termination (but in accordance with its terms; provided, however, that in the no event of a Qualifying Change in Control Termination, later than 30 days after such amount shall instead equal two and a half (2.5) times the sum of the Executive’s Base Pay plus the Executive’s most recent short term Incentive target; andtermination); (b) The prorated short term Incentive program in effect for the year in which the Executive’s 's termination of employment occurs shall be paid to the Executive in a single lump sum cash payment within five (5) business days as soon as practicable following the date that the Release Agreement becomes effective and irrevocable Executive's termination (but in accordance with its termsno event later than 30 days after such termination). The amount of the prorated short term Incentive program shall be determined by multiplying the Executive’s 's short term Incentive target for the full current year by a fraction, the numerator of which is the number of days from January 1 until the Executive’s 's termination of employment and the denominator of which is 365. Notwithstanding the foregoing, if the Executive is terminated on December 31 of any year, he or she will participate in the actual short term Incentive program for the year, based on applicable performance measure(s), and no proration shall apply; and (c) The prorated long term Incentive program in effect for the year in which the Executive's termination of employment occurs shall be paid to the Executive at the time such long term Incentive program terminates (but in no event later than 30 days after such termination) if the Corporation is determined at that time to have achieved the long term Incentive target under such program. The amount of the prorated long term Incentive program shall be determined by multiplying the Executive's long term Incentive target for such long term period by a fraction, the numerator of which is the number of days from the inception of the long term program until the Executive's termination of employment and the denominator of which is 365.

AMOUNT OF SEVERANCE PAYMENTS. If In the Executive’s employment terminates as described event that a Qualifying Change in Section 3 above, Control Termination occurs and he the Executive becomes entitled to severance benefits under this Agreement, the Company, or any successor to the Company, shall pay to the Executive the following: (a) An amount equal to two (2) times the sum of the Executive’s Base Pay plus the Executive’s most recent short term Incentive target shall be paid to the Executive in a single lump sum cash payment within five (5) business days following the date that the Release Agreement becomes effective and irrevocable in accordance with its terms; provided, however, that in the event of a Qualifying Change in Control Termination, such amount shall instead equal two and a half (2.5) times the sum of the Executive’s Base Pay plus the Executive’s most recent short term Incentive target; and (b) The prorated short term Incentive program in effect for the year in which the Executive’s termination of employment occurs shall be paid to the Executive in a single lump sum cash payment within five (5) business days following the date that the Release Agreement becomes effective and irrevocable in accordance with its terms. The amount of the prorated short term Incentive program shall be determined by multiplying the Executive’s short term Incentive target for the full current year by a fraction, the numerator of which is the number of days from January 1 until the Executive’s termination of employment and the denominator of which is 365. Notwithstanding the foregoing, if the Executive is terminated on December 31 of any year, he will participate in the actual short term Incentive program for the year, based on applicable performance measure(s), and no proration shall apply.