Common use of Guaranteed Severance Payments Clause in Contracts

Guaranteed Severance Payments. Subject to Executive entering ----------------------------- into a Release of Claims (in a form substantially similar to the release of claims attached as Exhibit A), Executive shall be entitled to receive severance payments for twelve (12) months from the date of termination at Executive's then current base salary, which may be greater than, but will not be less than the Base Compensation (the "Guaranteed Severance Payment"). The Guaranteed Severance Payment will be paid to Executive in accordance with the Company's standard payroll practices. Upon termination, Executive will also be entitled to receive a pro rate portion of his then current targeted bonus for the fiscal year following his termination as described in Section 3(b)(ii).

Appears in 3 contracts

Samples: Severance Agreement (Phoenix Technologies LTD), Severance Agreement (Phoenix Technologies LTD), Severance Agreement (Phoenix Technologies LTD)

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Guaranteed Severance Payments. Subject to Executive entering ----------------------------- into a Release of Claims (in a form substantially similar to the release of claims attached as Exhibit A), Executive shall be entitled to receive severance payments for twelve a period of six (126) months from the date of termination at equal to Executive's then current base salary, which may be greater than, but will not be less than the Base Compensation (the "Guaranteed Severance Payment"). The Guaranteed Severance Payment will be paid to Executive in accordance with the Company's standard payroll practices. Upon termination, Executive will also be entitled to receive a pro rate pro-rated portion of his then current targeted bonus for the fiscal year following of his termination as described in Section 3(b)(ii)3(b) based on the date at which Executive gives notice.

Appears in 1 contract

Samples: Executive Officer Severance Agreement (Insilicon Corp)

Guaranteed Severance Payments. Subject to Executive entering ----------------------------- into a Release of Claims (in a form substantially similar to the release of claims attached as Exhibit A), Executive shall be entitled to receive severance payments for twelve (12) months from the date of termination at Executive's ’s then current base salary, which may be greater than, but will not be less than the Base Compensation (the "Guaranteed Severance Payment"). The Guaranteed Severance Payment will be paid to Executive in accordance with the Company's ’s standard payroll practices. Upon termination, Executive will also be entitled to receive a pro rate portion of his then current targeted bonus for the fiscal year following his termination as described in Section 3(b)(ii).

Appears in 1 contract

Samples: Severance Agreement (Phoenix Technologies LTD)

Guaranteed Severance Payments. Subject to Executive entering ----------------------------- into a Release of Claims (in a form substantially similar to the form of release of claims attached as Exhibit A), Executive shall be entitled to receive severance payments for twelve six (126) months from the date of termination at Executive's then current base salary, which may be greater than, but will not be less than the Base Compensation (the "Guaranteed Severance Payment"). The Guaranteed Severance Payment will be paid to Executive in accordance with the Company's standard payroll practices. Upon termination, Executive will also be entitled to receive a pro rate pro- rated portion of his then current targeted bonus for the fiscal year following of his termination as described in Section 3(b)(ii)3(b) based on the date that Executive's employment is terminated.

Appears in 1 contract

Samples: Executive Officer Severance Agreement (Insilicon Corp)

Guaranteed Severance Payments. Subject to Executive entering ----------------------------- into a Release of Claims (in a form substantially similar to the form of release of claims attached as Exhibit A), Executive shall be entitled to receive severance payments for twelve (12) months from the date of termination at Executive's ’s then current base salary, which may be greater than, but will not be less than the Base Compensation (the "Guaranteed Severance Payment"). The Guaranteed Severance Payment will be paid to Executive in accordance with the Company's ’s standard payroll practices. Upon termination, Executive will also be entitled to receive a pro rate pro-rated portion of his then current targeted bonus for the fiscal year following of his termination as described in Section 3(b)(ii)3(b) based on the date that Executive’s employment is terminated.

Appears in 1 contract

Samples: Executive Officer Severance Agreement (Insilicon Corp)

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Guaranteed Severance Payments. Subject to Executive entering ----------------------------- into a Release of Claims (in a form substantially similar to the form of release of claims attached as Exhibit A), Executive shall be entitled to receive severance payments for twelve (12) months from the date of termination at Executive's then current base salary, which may be greater than, but will not be less than the Base Compensation (the "Guaranteed Severance Payment"). The Guaranteed Severance Payment will be paid to Executive in accordance with the Company's standard payroll practices. Upon termination, Executive will also be entitled to receive a pro rate pro- rated portion of his then current targeted bonus for the fiscal year following of his termination as described in Section 3(b)(ii)3(b) based on the date that Executive's employment is terminated.

Appears in 1 contract

Samples: Executive Officer Severance Agreement (Insilicon Corp)

Guaranteed Severance Payments. Subject to Executive entering ----------------------------- into a Release of Claims (in a form substantially similar to the release of claims attached as Exhibit A), Executive shall be entitled to receive severance payments for twelve a period of six (126) months from the date of termination at equal to Executive's ’s then current base salary, which may be greater than, but will not be less than the Base Compensation (the "Guaranteed Severance Payment"). The Guaranteed Severance Payment will be paid to Executive in accordance with the Company's ’s standard payroll practices. Upon termination, Executive will also be entitled to receive a pro rate pro-rated portion of his then current targeted bonus for the fiscal year following of his termination as described in Section 3(b)(ii)3(b) based on the date at which Executive gives notice.

Appears in 1 contract

Samples: Executive Officer Severance Agreement (Insilicon Corp)

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