Common use of COMPENSATION AFTER CERTAIN TERMINATIONS Clause in Contracts

COMPENSATION AFTER CERTAIN TERMINATIONS. If the Employee's employment with the Company is terminated (whether such termination is by the Employee or by the Company) at any time on or within three years after the Triggering Date for any reason other than (a) termination by the Company for Cause, (b) the Employee having reached the age of 65, or (c) the Employee's death, then, within five days after the date of such termination, the Company shall pay the Employee a lump sum amount in cash equal to 2.99 times the Employee's annualized includable compensation (within the meaning of Section 280G(d)(1) of the Internal Revenue Code of 1986, as amended) from the Company during the period consisting of the five full taxable years of the Employee ending immediately prior to the year in which the Triggering Date occurred (or such portion of such period during which the Employee was an employee of the Company).

Appears in 6 contracts

Samples: Employment Agreement (Banctec Inc), Employment Agreement (Banctec Inc), Employment Agreement (Banctec Inc)

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COMPENSATION AFTER CERTAIN TERMINATIONS. If the Employee's employment with the Company is terminated (whether such termination is by the Employee or by the Company) at any time on or within three years after the Triggering Date for any reason other than (a) termination by the Company for Cause, (b) the Employee having reached the age of 65, or (c) the Employee's death, then, within five days after the date of such termination, the Company shall pay the Employee a lump sum amount in cash equal to 2.99 one times the Employee's annualized includable compensation (within the meaning of Section 280G(d)(1) of the Internal Revenue Code of 1986, as amended) from the Company during the period consisting of the five full taxable years of the Employee ending immediately prior to the year in which the Triggering Date occurred (or such portion of such period during which the Employee was an employee of the Company).

Appears in 3 contracts

Samples: Employment Agreement (Banctec Inc), Employment Agreement (Banctec Inc), Employment Agreement (Banctec Inc)

COMPENSATION AFTER CERTAIN TERMINATIONS. If the Employee's employment with the Company is terminated (whether such termination is by the Employee or by the Company) at any time on or within three years after the Triggering Date for any reason other than (a) termination by the Company for Cause, (b) the Employee having reached the age of 65, or (c) the Employee's death, then, within five days after the date of such termination, the Company shall pay the Employee a lump sum amount in cash equal to 2.99 2 times the Employee's annualized includable compensation (within the meaning of Section 280G(d)(1) of the Internal Revenue Code of 1986, as amended) from the Company during the period consisting of the five full taxable years of the Employee ending immediately prior to the year in which the Triggering Date occurred (or such portion of such period during which the Employee was an employee of the Company).

Appears in 2 contracts

Samples: Employment Agreement (Banctec Inc), Employment Agreement (Banctec Inc)

COMPENSATION AFTER CERTAIN TERMINATIONS. If the Employee's employment with the Company is terminated (whether such termination is by the Employee or by the Company) at any time on or within three years after the Triggering Date for any reason other than (a) termination by the Company for Cause, (b) the Employee having reached the age of 65, or (c) the Employee's death, then, within five days after the date of such termination, the Company shall pay the Employee a lump sum amount in cash such equal to 2.99 2.0 times the Employee's annualized includable compensation (within the meaning of Section 280G(d)(1) of the Internal Revenue Code of 1986, as amended) from the Company during the period consisting of the five full taxable years of the Employee ending immediately prior to the year in which the Triggering Date occurred (or such portion of such period during which the Employee was an employee of the Company).

Appears in 1 contract

Samples: Employment Agreement (El Chico Restaurants Inc)

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COMPENSATION AFTER CERTAIN TERMINATIONS. If the Employee's ’s employment with the Company is terminated (whether such termination is by the Employee or by the Company) at any time on or within three years after the Triggering Date for any reason other than (a) termination by the Company for Cause, (b) the Employee having reached the age of 65, or (c) the Employee's ’s death, then, within five days after the date of such termination, the Company shall pay the Employee a lump sum amount in cash equal to 2.99 one times the Employee's ’s annualized includable compensation (within the meaning of Section 280G(d)(1) of the Internal Revenue Code of 1986, as amended) from the Company during the period consisting of the five full taxable years of the Employee ending immediately prior to the year in which the Triggering Date occurred (or such portion of such period during which the Employee was an employee of the Company).

Appears in 1 contract

Samples: Employment Agreement (Carreker Corp)

COMPENSATION AFTER CERTAIN TERMINATIONS. If the Employee's employment with the Company is terminated (whether such termination is by the Employee or by the Company) at any time on or within three years after the Triggering Date for any reason other than (a) termination by the Company for Cause, (b) the Employee having reached the age of 65, or (c) the Employee's death, then, within five days after the date of such termination, the Company shall pay the Employee a lump sum amount in cash such equal to 2.99 2.0 (two) times the Employee's annualized includable compensation (within the meaning of Section 280G(d)(128OG(d)(1) of the Internal Revenue Code of 1986, as amended) from the Company during the period consisting of the five full taxable years of the Employee ending immediately prior to the year in which the Triggering Date occurred (or such portion of such period during which the Employee was an employee of the Company).

Appears in 1 contract

Samples: Employment Agreement (El Chico Restaurants Inc)

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