Change of Control Other Than a 409A Change of Control Clause Samples
Change of Control Other Than a 409A Change of Control. In the event of a Change of Control that is not a 409A Change of Control, the Company shall pay Executive, with respect to each LTIP Award that is outstanding on the Effective Date, a lump-sum cash payment equal to the Pro-Rata LTIP Award determined as of the Effective Date and the remaining portion of each such LTIP Award shall be cancelled. This payment will be made on the same date that LTIP Awards with respect to the applicable performance period would have been paid to eligible employees had the Change of Control not occurred.
Change of Control Other Than a 409A Change of Control. In the event of a Change of Control that is not a 409A Change of Control, the Company shall pay Executive (or, in the event of Executive’s death, his or her estate or Beneficiary) a lump-sum cash payment equal to the Pro-Rata Performance-Based Annual Bonus payable with respect to the Annual Performance Period during which the Effective Date occurs, determined based on the relevant measurements of the actual performance of the Company and its subsidiaries and business units during such Annual Performance Period and payable on the date on which annual bonuses for such Annual Performance Period are paid to employees of the Company generally (without regard to Executive’s employment status with the Company as of such date).