Lump Sum Separation Pay. The Company shall pay to Executive an amount equal to 100% of Executive’s target annual incentive award for one year (as in effect immediately prior to the closing of the Change of Control), less applicable withholdings, payable to Executive in a lump sum no later than sixty (60) days following the Termination Date, provided that Executive has satisfied the conditions described in Section 4.5. The Company and Executive intend the payment under this Section 4.4(a)(i) to be a short-term deferral under Treas. Reg. § 1.409A-1(b)(4).
Appears in 4 contracts
Samples: Employment Agreement (General Moly, Inc), Employment Agreement (General Moly, Inc), Employment Agreement (General Moly, Inc)
