Common use of Lump Sum Payments Clause in Contracts

Lump Sum Payments. If (X) the Company terminates the Executive's ----------------- employment other than for Cause during the Employment Period or (Y) the Executive terminates his employment for Good Reason at any time during the Employment Period, then the Company shall pay to the Executive the following amounts: (A) the Executive's Earned Salary; (B) a cash amount (the "Severance Amount") equal to three (3) times the sum of (1) the Executive's annual Base Salary;

Appears in 3 contracts

Samples: Employment Continuation Agreement (Alabama National Bancorporation), Employment Agreement (Alabama National Bancorporation), Employment Continuation Agreement (Alabama National Bancorporation)

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Lump Sum Payments. If (X) If, during the Employment Period, the Company terminates the Executive's ----------------- ’s employment other than for Cause during the Employment Period Cause, or (Y) the Executive terminates his employment for Good Reason at any time during the Employment PeriodReason, then the Company shall pay to the Executive the following amounts: (A) the Executive's ’s Earned Salary; (B) a cash amount (the "Severance Amount") equal to three (3) two times the sum of of (1) the Executive's ’s annual Base Salary;; and (2) the target bonus amount for the Executive for the fiscal year ending immediately prior to the Effective Date; and

Appears in 2 contracts

Samples: Employment Continuation Agreement (Westinghouse Air Brake Technologies Corp), Employment Continuation Agreement (Westinghouse Air Brake Technologies Corp)

Lump Sum Payments. If (X) the Company terminates the ------------------ Executive's ----------------- employment other than for Cause during the Employment Period or (Y) the Executive terminates his employment for Good Reason at any time during the Employment Period, then the Company shall pay to the Executive the following amounts: (A) the Executive's Earned Salary; (B) a cash amount (the "Severance Amount") equal to three (3) times the sum of (1) the Executive's annual Base Salary;

Appears in 1 contract

Samples: Employment Continuation Agreement (Alabama National Bancorporation)

Lump Sum Payments. If (Xx) the Company terminates the Executive's ----------------- employment other than for Cause during the Employment Period or (Yy) the Executive terminates his employment for Good Reason at any time during the Employment PeriodPeriod for Good Reason, then the Company shall pay to the Executive Executive, at the times determined below, the following amounts: (A) the Executive's Earned Salary; (B) a cash amount (the "Severance Amount") equal to three (3) times the sum of (1) the Executive's annual Base Salary;

Appears in 1 contract

Samples: Employment Continuation Agreement (Metlife Inc)

Lump Sum Payments. If (X) If, during the Employment Period, the Company terminates the Executive's ----------------- employment other than for Cause during the Employment Period Cause, or (Y) following a Change of Control the Executive terminates his employment for Good Reason at any time during the Employment PeriodReason, then the Company shall pay to the Executive the following amounts: (A) the Executive's Earned Salary; (B) a cash amount (the "Severance Amount") equal to three (3) times the sum of (1x) the Executive's annual Base Salary;Salary and (y) an amount equal to the average of the annual bonuses paid to the Executive with respect to (1) Three times in the case of chief executive officer.

Appears in 1 contract

Samples: Employment Continuation Agreement (New Jersey Resources Corp)

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Lump Sum Payments. If (Xx) the Company terminates the Executive's ----------------- employment other than for Cause during the Employment Period or (Yy) the Executive terminates his employment for Good Reason at any time during the Employment PeriodPeriod for Good Reason, then the Company shall pay to the Executive Executive, at the times determined below, the following amounts: (A) the Executive's Earned Salary; (B) a cash amount (the "Severance Amount") equal to three (3) times the sum of of (1) the Executive's annual rate of Base SalarySalary as then in effect;

Appears in 1 contract

Samples: Employment Continuation Agreement (Metlife Inc)

Lump Sum Payments. If (X) the Company terminates the ----------------- Executive's ----------------- employment other than for Cause during the Employment Period or (Y) the Executive terminates his employment for Good Reason at any time during the Employment Period, then the Company shall pay to the Executive the following amounts: (A) the Executive's Earned Salary; (B) a cash amount (the "Severance Amount") equal to three (3) times the sum of (1) the Executive's annual Base Salary;

Appears in 1 contract

Samples: Employment Continuation Agreement (Alabama National Bancorporation)

Lump Sum Payments. If (X) If, during the Employment Period, the Company terminates the Executive's ----------------- employment other than for Cause during the Employment Period Cause, or (Y) the Executive terminates his employment for Good Reason at any time during the Employment PeriodReason, then the Company shall pay to the Executive the following amounts: (A) the Executive's Earned Salary; (B) a cash amount (the "Severance Amount"') equal to three (3) times the sum of (1) the Executive's annual Base Salary;; and the average of the bonuses payable to the Executive for the three fiscal years of the Company preceding the date of termination; and

Appears in 1 contract

Samples: Employment Continuation Agreement

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