Common use of Base Salary and Annual Bonus Clause in Contracts

Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days after Executive’s termination of employment, in a single sum, an amount equal to two times the sum of (x) the Executive’s annual salary at the time of termination; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination occurs. In the event Executive’s termination occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (a).

Appears in 3 contracts

Samples: Change in Control and Non Solicitation Agreement (TCF Financial Corp), Change in Control Agreement (TCF Financial Corp), Change in Control Agreement (TCF Financial Corp)

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Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days after Executive’s termination of employment, in a single sum, an amount equal to two times the sum of (x) the Executive’s annual salary at the time of termination; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination occurs. In the event Executive’s termination occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (ai).

Appears in 2 contracts

Samples: Employment Agreement (TCF Financial Corp), Employment Agreement (TCF Financial Corp)

Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days after Executive’s termination of employment, in a single sum, an amount equal to two times the sum of (x) the Executive’s annual salary at the time of termination; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination occurs. In the event Executive’s termination from employment occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (a)) promptly but no later than 2 ½ months after the end of the calendar year in which bonus was earned.

Appears in 2 contracts

Samples: Change in Control Agreement (TCF Financial Corp), Change in Control Agreement (TCF Financial Corp)

Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days after Executive’s termination of employment, in a single sum, an amount equal to two three times the sum of (x) the Executive’s annual salary at the time of termination; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination occurs. In the event Executive’s termination occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (a).

Appears in 1 contract

Samples: Change in Control Agreement (TCF Financial Corp)

Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days after Executive’s termination of employment, in a single sum, an amount equal to two three times the sum of (x) the Executive’s annual salary at the time of termination; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination occurs. In the event Executive’s termination occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (ai).

Appears in 1 contract

Samples: Employment Agreement (TCF Financial Corp)

Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days after Executive’s termination of employment, in a single sum, an amount equal to two times the sum of (x) the Executive’s annual salary at the time of terminationtermination of employment; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination of employment occurs. In the event Executive’s termination occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (a)i) promptly but no later than 2 ½ months after the end of the calendar year in which the bonus was earned.

Appears in 1 contract

Samples: Employment Agreement (TCF Financial Corp)

Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days as soon as administratively practicable six (6) months after Executive’s termination of employment, in a single sum, an amount equal to two three times the sum of (x) the Executive’s annual salary at the time of termination; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination occurs. In the event Executive’s termination occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (a)) as soon as administratively practicable six (6) months after Executive’s termination of employment.

Appears in 1 contract

Samples: Change in Control Agreement (TCF Financial Corp)

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Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days after Executive’s termination of employment, in a single sum, an amount equal to two times the sum of (x) the Executive’s annual salary at the time of termination; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination occurs. In the event Executive’s termination from employment occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (a)) promptly but no later than 2 ½ months after the end of the calendar year which the bonus was earned.

Appears in 1 contract

Samples: Change in Control and Non Solicitation Agreement (TCF Financial Corp)

Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days after Executive’s termination of employment, in a single sum, an amount equal to two three times the sum of (x) the Executive’s annual salary at the time of terminationtermination of employment; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination of employment occurs. In the event Executive’s termination occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (a)i) promptly but no later than 2 ½ months after the end of the calendar year in which bonus was earned.

Appears in 1 contract

Samples: Employment Agreement (TCF Financial Corp)

Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days after Executive’s termination of employment, in a single sum, an amount equal to two times the sum of (x) the Executive’s annual salary at the time of terminationtermination of employment; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination occurs. In the event Executive’s termination of employment occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (a)i) promptly but no later than 2 ½ months after the end of the calendar year in which the bonus was earned.

Appears in 1 contract

Samples: Employment Agreement (TCF Financial Corp)

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