Bonus Severance Payment. Executive shall receive an additional severance payment in an amount equal to 100% of Executive’s target annual bonus in effect for the fiscal year in which the Termination Date occurs (the “Bonus Severance Payment”). The Bonus Severance Payment shall be paid on the first regular payroll date following the effective date of the Release, subject to any delay in payment required by Section 5.5.
Bonus Severance Payment. 1. After a teacher has accumulated his/her maximum of one hundred eighty-five (185) days of sick leave, any additional sick leave which is accrued will be recorded for the purpose of increasing the severance pay calculation. Upon retirement (as defined in Section A. above) from the District, a teacher shall receive one-third (1/3) of his/her accumulated sick leave days over one hundred eighty- five (185) as part of his/her severance pay. The maximum number of additional days which may be earned under this Section shall be thirty (30) days, and the amount will be added to the amount entitled to in Section A. above.
2. Each teacher eligible to receive bonus severance days shall receive a statement in September containing the number of such days earned during the preceding school year and the total bonus severance days earned to date.
3. Once a bonus severance day has been placed in the bonus severance day “Bank” it will not be lost regardless of what happens to the teacher’s accumulated sick leave in the future.
Bonus Severance Payment. Employee shall receive a lump-sum severance payment (less applicable tax withholding) equal to the greater of 150% of: (i) the Employee’s annual target bonus for the fiscal year in which the date of Employee’s termination occurs or (ii) the actual bonus that the Employee would earn under the Company’s executive bonus plan in effect in the fiscal year in which the date of Employee’s termination occurs based on the Company’s achievement against the metrics established under the plan and assuming that any individual goals for Employee are achieved at target levels. Notwithstanding any other provision to the contrary, the payment in this paragraph will be made in the year following the year in which the Employee’s date of termination occurs at the same time as bonus payments are made to the Company’s other senior executive officers, subject to any delay as may be required pursuant to Section 409A.
Bonus Severance Payment. Executive will receive a lump sum severance payment (less applicable tax withholdings) equal to two (2) times Executive’s annual target incentive bonus amount (as in effect immediately prior to (A) the Change of Control, or (B) termination of Executive’s employment, whichever is greater).
Bonus Severance Payment. The Company will pay you (or your estate, as applicable) a lump sum cash amount equivalent to your target Annual Bonus for the year in which your Separation from Service Date occurs (the “Bonus Severance Payment”). Your base salary as in effect on your Separation from Service Date, ignoring any decrease that forms the basis of your resignation for Good Reason, if applicable, shall be used for calculating the Bonus Severance Payment. The Bonus Severance Payment will be paid on the First Payment Date but in no event later than March 15th of the year following the year in which your Separation from Service Date occurs.
Bonus Severance Payment. A lump sum cash amount equivalent to your Performance Bonus for the year in which the termination date occurs, prorated based on the number of days that you were employed during such performance year, divided by the total number of days in such performance year (the “Bonus Severance Payment”). Your base salary as in effect on the termination date, ignoring any decrease that forms the basis of your resignation for Good Reason, if applicable, shall be used for calculating the Bonus Severance Payment. The Bonus Severance Payment will be paid in a lump sum cash payment within sixty (60) days of the Release Effective Date, but in no event later than March 15 of the year following the year in which your Covered Termination occurs; and
Bonus Severance Payment. A single, lump sum, cash payment equal to the greater of (A) Executive’s annual target bonus in effect for the fiscal year in which the termination occurs, or (if greater) in effect immediately prior to the Change of Control, or (B) the bonus Executive would receive for the fiscal year during which the termination occurs based on actual performance being accrued for financial accounting purposes at the time of termination against the performance goals applicable to Executive’s bonus arrangement in effect immediately prior to Executive’s termination date, in either case, which will be pro-rated for the period during the fiscal year Executive was employed by the Company.
Bonus Severance Payment. Executive shall receive an additional severance payment in an amount equal to 150% of Executive’s target annual bonus in effect for the fiscal year in which the Termination Date occurs, if any (the “Bonus Severance Payment”). The Bonus Severance Payment shall be subject to applicable payroll deductions and tax withholdings, and shall be paid on the first regular payroll date following the sixtieth (60th) day after the Termination Date; provided, however, that if the Termination Date occurs before the Change in Control, the additional portion of the Bonus Severance Payment due hereunder and not paid under Section 3.5 shall be paid no later than March 15th following the Change in Control.
Bonus Severance Payment. The Company will pay to Employee a severance bonus in an amount equal to 100% of Employee’s base salary in the amount of $500,000.00, less standard withholdings and authorized deductions. The bonus severance payment(s) will be paid in equal bi-weekly payments on the regular paydays of the Company in accordance with the Company’s standard payroll practices for a period beginning on the first regular payroll cycle after the Effective Date of this Agreement and continuing for the remainder of the Severance Period.
Bonus Severance Payment. The Company will pay you (or your estate, as applicable) a lump sum cash amount equivalent to your target Annual Bonus for the year in which the Separation from Service Date occurs (the “Bonus Severance Payment”). Your base salary as in effect on the Separation from Service Date, ignoring any decrease that forms the basis of your resignation for Good Reason, if applicable, shall be used for calculating the Bonus Severance Payment. The Bonus Severance Payment will be paid within sixty (60) days of the effective date of the Release (namely, the date it can no longer be revoked) but in no event later than March 15th of the year following the year in which the Separation from Service Date occurs.
