Basic Cash Severance Payment Clause Samples

Basic Cash Severance Payment. If at the time of the Eligible Termination the Executive is not covered by an Individual Agreement, the Company shall pay the Executive in a lump sum on the 60th day after the Termination Date (the “Payment Date”) an amount equal to six (6) months of the Executive's annual base salary from the Company and its subsidiaries to the extent not theretofore paid. No amount shall be payable under this Section 2.2 if at the time of the Eligible Termination the Executive is covered by an Individual Agreement.

Basic Cash Severance Payment. If at the time of the Eligible Termination the Executive is not covered by an Individual Agreement, the Company shall pay the Executive in a lump sum on the 60th day after the Termination Date (the "Payment Date") an amount equal to ________ (___) months of the Executive’s annual base salary from the Company and its subsidiaries to the extent not theretofore paid; [For the applicable executives: provided, that, if such Eligible Termination is a Change in Control Termination, the amount payable under this Section 2.B shall be, in lieu of the foregoing, equal to ____ (___) months of the Executive’s base salary. No amount shall be payable under this Section 2.B if at the time of the Eligible Termination the Executive is covered by an Individual Agreement.] OR

Basic Cash Severance Payment. Upon an Eligible Termination, the Company shall pay the Executive in a lump sum on the 60th day after the Termination Date (the “Payment Date”) an amount equal to twelve (12) months of the Executive’s annual base salary from the Company and its subsidiaries to the extent not theretofore paid [For the Interim Chief Financial Officer only:, as well as an amount equal to twelve (12) months of the monthly stipend awarded to the Executive upon her appointment as interim chief financial officer of the Company, to the extent such monthly stipend is still in effect on the Termination Date.] Upon a Change in Control Termination, the Company shall pay the Executive, in addition to the payment provided for in the preceding sentence, in a lump sum on the Payment Date, or, if later, on the 20th day after the date on which a Change in Control occurs, an amount equal to the Executive’s target annual cash incentive award for the year of such Change in Control Termination (to the extent not theretofore paid) multiplied by a fraction, the numerator of which is the number of days of Executive’s employment during the calendar year of such Change in Control Termination, and the denominator of which is the number of days in the calendar year in which the Change in Control Termination occurs.

Basic Cash Severance Payment. Upon an Eligible Termination, the Company shall pay the Executive in a lump sum on the 60th day after the Termination Date (the “Payment Date”) an amount equal to twelve (12) months of the Executive’s annual base salary from the Company and its subsidiaries to the extent not theretofore paid. The Executive agrees that the amount of the Basic Cash Severance Payment includes: (i) the statutory severance payment that may be owed to the Executive as an employee employed under Czech law in line with Section 67(1) of Act. No. 262/2006 Coll., the Czech Labor Code, and no additional statutory severance would be owed to Executive; and (ii) the Severance Payment that may be owed as described in the Executive’s Confidentiality, Intellectual Property, and Restrictive Covenants Agreement. In the event of a Change in Control Termination, the Company shall pay the Executive, in addition to the payment provided for in the preceding sentence, in a lump sum on the Payment Date, or, if later, on the 20th day after the date on which a Change in Control occurs, an amount equal to the Executive's target annual cash incentive award for the year of such Change in Control Termination (to the extent not theretofore paid) multiplied by a fraction, the numerator of which is the number of days of Executive's employment during the calendar year of such Change in Control Termination, and the denominator of which is the number of days in the calendar year in which the Change in Control Termination occurs.

Basic Cash Severance Payment. Upon an Eligible Termination that is not a Change in Control Termination, the Company shall pay the Executive in a lump sum on the 60th day after the Termination Date (the “Payment Date”), (i) an amount equal to twelve (12) months of the Executive’s annual base salary from the Company and its subsidiaries to the extent not theretofore paid plus (ii) an amount equal to the annual cash incentive award the Executive earned (or would have earned), if any, for the year prior to the year of such Eligible Termination based on actual performance but not to exceed the target level payout (provided that, if the annual cash incentive award amount is not NAI-1522296804v5 4 determinable as of the Payment Date, such amount, if any, will be paid within ten (10) days of the date the performance for such annual cash incentive award is determinable, and, in any event, in the year in which such Eligible Termination occurs). In the event of a Change in Control Termination, the Company shall pay the Executive in a lump sum on the Payment Date, or, if later, on the 20th day after the date on which a Change in Control occurs, (i) an amount equal to twelve (12) months of the Executive’s annual base salary from the Company and its subsidiaries to the extent not theretofore paid plus (ii) an amount equal to the Executive’s target annual cash incentive award for the year of such Change in Control Termination (to the extent not theretofore paid) multiplied by a fraction, the numerator of which is the number of days of Executive’s employment during the calendar year of such Change in Control Termination, and the denominator of which is the number of days in the calendar year in which the Change in Control Termination occurs.