Common use of Cash Severance Payment Clause in Contracts

Cash Severance Payment. You will receive a cash payment in an amount equal to six months of your then Annual Base Salary (the “Severance Amount”). The Severance Amount will be paid in a lump sum, less all applicable withholding taxes, within thirty (30) days after the Involuntary Termination, except in the case of an Involuntary Termination that is part of a group termination program, in which case the payment shall be made within sixty (60) days. The Severance Amount will not be considered as compensation for purposes of determining benefits under any other qualified or non-qualified plans of the Company.

Appears in 2 contracts

Samples: Primo Water Corp /CN/, Cott Corp /Cn/

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Cash Severance Payment. You will receive a cash payment in an amount (the “Severance Amount”) equal to six months of your then Annual Base Salary (the “Severance Amount”)Salary. The Severance Amount will be paid in a lump sum, less all applicable withholding taxes, within thirty (30) days after of the Involuntary Termination, except in the case of an Involuntary Termination that is a part of a group termination program, in which case the payment shall be made within sixty (60) days. The Severance Amount will not be considered as compensation for purposes of determining benefits under any other qualified or non-qualified plans of the Company.

Appears in 1 contract

Samples: Release Agreement (Cott Corp /Cn/)

Cash Severance Payment. You will receive a cash payment in an amount equal to six nine months of your then Annual Base Salary (the “Severance Amount”). The Severance Amount will be paid in a lump sum, less all applicable withholding taxes, within thirty (30) days after the Involuntary Termination, except in the case of an Involuntary Termination that is part of a group termination program, in which case the payment shall be made within sixty (60) days. The Severance Amount will not be considered as compensation for purposes of determining benefits under any other qualified or non-qualified plans of the Company.

Appears in 1 contract

Samples: Release Agreement (Cott Corp /Cn/)

Cash Severance Payment. You will receive a cash payment in an amount equal to six nine months of your then Annual Base Salary (the “Severance Amount”)) . The Severance Amount will be paid in a lump sum, less all applicable withholding taxes, within thirty (30) days after the Involuntary Termination, except in the case of an Involuntary Termination that is part of a group termination program, in which case the payment shall be made within sixty (60) days. The Severance Amount will not be considered as compensation for purposes of determining benefits under any other qualified or non-qualified plans of the Company.

Appears in 1 contract

Samples: Release Agreement (Cott Corp /Cn/)

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Cash Severance Payment. You will receive a cash payment in an amount (the “Severance Amount”) equal to six nine months of your then Annual Base Salary (the “Severance Amount”)Salary. The Severance Amount will be paid in over a lump sumnine month period, less all applicable withholding taxes, within beginning thirty (30) days after the Involuntary Termination, except in the case of an Involuntary Termination that is part of a group termination program, in which case the payment shall be made within sixty (60) days. The Severance Amount will not be considered as compensation for purposes of determining benefits under any other qualified or non-qualified plans of the Company.

Appears in 1 contract

Samples: Release Agreement (Cott Corp /Cn/)

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