Cash Payments. The Executive shall be entitled to receive an amount in cash equal to the sum of: (i) 100% of the greater of (x) the sum of the Executive's Base Salary, benefits and Target Bonus, in each case as in effect upon the date Executive's employment was terminated, or (y) the sum of the Executive's Base Salary, benefits and Target Bonus, in each case as in effect on the Change of Control Date; and (ii) accrued and unused vacation. The payment shall be made in equal monthly installments over a twelve (12) month period and shall be paid net of any applicable withholding required under federal, state or local law. Any such payment shall be in lieu of any payment otherwise due under the Company's "Annual Incentive Plan" or "Performance Unit Plan" for the year in which the Executive's termination occurs.
Appears in 12 contracts
Samples: Severance and Retention Agreement (CSK Auto Corp), Severance and Retention Agreement (CSK Auto Corp), Severance and Retention Agreement (CSK Auto Corp)
Cash Payments. The Executive shall be entitled to receive an amount in cash equal to the sum of:
(i) 10050% of the greater of (x) the sum of the Executive's Base Salary, benefits and Target Bonus, in each case as in effect upon the date Executive's employment was terminated, or (y) the sum of the Executive's Base Salary, benefits and Target Bonus, in each case as in effect on the Change of Control Datedate hereof; and
(ii) accrued and unused vacation. The payment shall be made in equal monthly installments over a twelve six (126) month period and shall be paid net of any applicable withholding required under federal, state or local law. Any such payment shall be in lieu of any payment otherwise due under the Company's "Annual Incentive Plan" or "Performance Unit Plan" for the year in which the Executive's termination occurs.
Appears in 10 contracts
Samples: Severance and Retention Agreement (CSK Auto Corp), Severance and Retention Agreement (CSK Auto Corp), Severance and Retention Agreement (CSK Auto Corp)
Cash Payments. The Executive shall be entitled to receive an amount in cash equal to the sum of:
(i) 100150% of the greater of (x) the sum of the Executive's Base Salary, benefits and Target Bonus, in each case as in effect upon the date Executive's employment was terminated, or (y) the sum of the Executive's Base Salary, benefits and Target Bonus, in each case as in effect on the Change of Control Date; and
(ii) accrued and unused vacation. The payment shall be made in equal monthly installments over a twelve an eighteen (1218) month period and shall be paid net of any applicable withholding required under federal, state or local law. Any such payment shall be in lieu of any payment otherwise due under the Company's "Annual Incentive Plan" or "Performance Unit Plan" for the year in which the Executive's termination occurs.
Appears in 4 contracts
Samples: Severance and Retention Agreement (CSK Auto Corp), Severance and Retention Agreement (CSK Auto Corp), Severance and Retention Agreement (CSK Auto Corp)
Cash Payments. The Executive shall be entitled to receive an amount in cash equal to the sum of:
(i) 10075% of the greater of (x) the sum of the Executive's Base Salary, benefits and Target Bonus, in each case as in effect upon the date Executive's employment was terminated, or (y) the sum of the Executive's Base Salary, benefits and Target Bonus, in each case as in effect on the Change of Control Datedate hereof; and
(ii) accrued and unused vacation. The payment shall be made in equal monthly installments over a twelve nine (129) month period and shall be paid net of any applicable withholding required under federal, state or local law. Any such payment shall be in lieu of any payment otherwise due under the Company's "Annual Incentive Plan" or "Performance Unit Plan" for the year in which the Executive's termination occurs.
Appears in 4 contracts
Samples: Severance and Retention Agreement (CSK Auto Corp), Severance and Retention Agreement (CSK Auto Corp), Severance and Retention Agreement (CSK Auto Corp)
Cash Payments. The Executive shall be entitled to receive an amount in cash equal to the sum of:
(i) 100% of the greater of (x) the sum of the Executive's Base Salary, benefits and Target Bonus, in each case as in effect upon the date Executive's employment was terminated, or (y) the sum of the Executive's Base Salary, benefits and Target Bonus, in each case as in effect on the Change of Control Datedate hereof; and
(ii) accrued and unused vacation. The payment shall be made in equal monthly installments over a twelve (12) month period and shall be paid net of any applicable withholding required under federal, state or local law. Any such payment shall be in lieu of any payment otherwise due under the Company's "Annual Incentive Plan" or "Performance Unit Plan" for the year in which the Executive's termination occurs.
Appears in 2 contracts
Samples: Severance and Retention Agreement (CSK Auto Corp), Severance and Retention Agreement (CSK Auto Corp)
Cash Payments. The Executive shall be entitled to receive an amount in cash equal to the sum of:
(i) 100% of the greater of (x) the sum of the Executive's ’s Base Salary, benefits and Target Bonus, in each case as in effect upon the date Executive's ’s employment was terminated, or (y) the sum of the Executive's ’s Base Salary, benefits and Target Bonus, in each case as in effect on the Change of Control Date; and
(ii) accrued and unused vacation. The payment shall be made in equal monthly installments over a twelve (12) month period and shall be paid net of any applicable withholding required under federal, state or local law. Any such payment shall be in lieu of any payment otherwise due under the Company's "’s “Annual Incentive Plan" ” or "“Performance Unit Plan" ” for the year in which the Executive's ’s termination occurs.
Appears in 1 contract
Cash Payments. The Executive shall be entitled to receive an amount in cash equal to the sum of:
(i) 100% of the greater of (x) the sum of the Executive's ’s Base Salary, benefits Salary and Target Bonus, in each case as in effect upon the date Executive's ’s employment was terminated, or (y) the sum of the Executive's ’s Base Salary, benefits Salary and Target Bonus, in each case as in effect on the Change of Control Date; and
(ii) accrued and unused vacation. The payment shall be made in equal monthly installments over a twelve (12) month period (the “severance period”) and shall be paid net of any applicable withholding required under federal, state or local law. Any such payment shall be in lieu of any payment otherwise due under the Company's "’s “Annual Incentive Plan" ” or "“Performance Unit Plan" ” for the year in which the Executive's ’s termination occurs.
Appears in 1 contract