Common use of Lump Sum Severance Payment Clause in Contracts

Lump Sum Severance Payment. Payment of a lump sum amount equal to the sum of (A) eighteen (18) months of Executive’s then-current Base Salary and (B) 1.5 times the Target Performance Bonus for the year in which termination of Executive’s employment occurs, less all customary and required taxes and employment-related deductions (the “Lump Sum Severance Amount”).

Appears in 7 contracts

Samples: Executive Employment Agreement (Inhibrx, Inc.), Executive Employment Agreement (Inhibrx, Inc.), Executive Employment Agreement (Inhibrx, Inc.)

AutoNDA by SimpleDocs

Lump Sum Severance Payment. Payment of a lump sum amount equal to the sum of (A) eighteen (18) months of Executive’s then-current Base Salary and (B) 1.5 times the Target Performance Bonus for the year in which termination of Executive’s employment occurs, less all customary and required taxes and employment-related deductions (the “Lump Sum Severance Amount”).

Appears in 4 contracts

Samples: Executive Employment Agreement (Inhibrx, Inc.), Executive Employment Agreement (Inhibrx, Inc.), Executive Employment Agreement (Inhibrx, Inc.)

Lump Sum Severance Payment. Payment of a lump sum amount equal to the sum of (A) eighteen (18) months of ExecutiveEmployee’s then-current Base Salary and (B) 1.5 times the Target Performance Bonus for the year in which termination of ExecutiveEmployee’s employment occurs, less all customary and required taxes and employment-related deductions (the “Lump Sum Severance Amount”).

Appears in 3 contracts

Samples: Employment Agreement (Inhibrx Biosciences, Inc.), Employment Agreement (Inhibrx Biosciences, Inc.), Employment Agreement (Inhibrx Biosciences, Inc.)

Lump Sum Severance Payment. Payment of a lump sum amount equal to the sum of (A) eighteen twelve (1812) months of Executive’s then-current Base Salary and (B) 1.5 times the Target Performance Bonus for the year in which termination of Executive’s employment occurs, less all customary and required taxes and employment-related deductions (the “Lump Sum Severance Amount”).

Appears in 2 contracts

Samples: Executive Employment Agreement (Inhibrx, Inc.), Executive Employment Agreement (Inhibrx, Inc.)

AutoNDA by SimpleDocs

Lump Sum Severance Payment. Payment of a lump sum amount equal to the sum of (A) eighteen (18) months of Executive’s then-current Base Salary and (B) 1.5 times the Target Performance Bonus for the year in which termination of Executive’s employment occursSalary, less all customary and required taxes and employment-related deductions (the “Lump Sum Severance Amount”).

Appears in 1 contract

Samples: Executive Employment Agreement (XL Fleet Corp.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!