Common use of Lump Sum Severance Payment Clause in Contracts

Lump Sum Severance Payment. In lieu of any further salary payments to the Executive for periods subsequent to the Date of Termination, the Company shall pay to the Executive a lump sum severance payment, in cash, equal to two (2) (or, if less, the number of years, including fractions, from the date of Termination until the Executive would have reached age sixty-five (65)) times the sum of (a) the Executive's Annual Base Salary in effect on date of termination and (b) the Executive's most recent Annual Bonus. If the most recent Annual Bonus was a stock option or a stock grant, the value of the bonus will be deemed to be the number of option shares times the closing price of the Company's Common Stock for the 20 trading days prior to Termination.

Lump Sum Severance Payment. In lieu of any further salary payments to the Executive for periods subsequent to the Date date of Terminationtermination, the Company shall pay to the Executive a lump sum severance payment, in cash, equal to two (2) (or, if less, the number of years, including fractions, from the date of Termination termination until the Executive would have reached age sixty-five (65)) times the sum of (a) the Executive's Annual Base Salary ’s annual base salary in effect on date of termination and (b) the Executive's ’s most recent Annual Bonusannual bonus. If the most recent Annual Bonus was a stock option or a stock grant, the value of the bonus will be deemed to be the number of option shares times the closing price of the Company's ’s Common Stock for the 20 trading days prior to Terminationtermination.

Lump Sum Severance Payment. In lieu of any further salary payments to the Executive for periods subsequent to the Date of Termination, the Company shall pay to the Executive a lump sum severance payment, in cash, equal to two (2) (or, if less, the number of years, including fractions, from the date of Termination until the Executive would have reached age sixty-five (65)) times the sum of (a) the Executive's Annual Base Salary in effect on date of termination and (b) the Executive's most recent Annual Bonus. If if the most recent Annual Bonus was a stock option or a stock grant, the value of the bonus will be deemed to be the number of option shares times the closing price of the Company's Common Stock for the 20 trading days prior to Termination.

Lump Sum Severance Payment. In lieu of any further salary payments to the Executive for periods subsequent to the Date of Termination, the Company shall pay to the Executive a lump sum severance payment, in cash, equal to two one and one half (21.5) (or, if less, the number of years, including fractions, from the date Date of Termination until the Executive would have reached age sixty-five (65)) times the sum of (a) the Executive's Annual Base Salary in effect on date of termination and (b) the Executive's most recent Annual Bonus. If the most recent Annual Bonus was a stock option or a stock grant, the value of the bonus will be deemed to be the number of option shares times the closing price of the Company's Common Stock for the 20 trading days prior to Termination.

Lump Sum Severance Payment. In lieu of any further salary payments to the Executive for periods subsequent to the Date of Termination, the Company shall pay to the Executive a lump sum severance payment, in cash, equal to two three (23) (or, if less, the number of years, including fractions, from the date of Termination until the Executive would have reached age sixty-five (65)) times the sum of (a) the Executive's Annual Base Salary in effect on date of termination and (b) the Executive's most recent Annual Bonus. If the most recent Annual Bonus was a stock option or a stock grant, the value of the bonus will be deemed to be the number of option shares times the closing price of the Company's Common Stock for the 20 trading days prior to Termination.

Lump Sum Severance Payment. In lieu of any further salary payments to the Executive for periods subsequent to the Date of Termination, the Company shall pay to the Executive a lump sum severance payment, in cash, equal to two one and a half (21.5) (or, if less, the number of years, including fractions, from the date of Termination until the Executive would have reached age sixty-five (65)) times the sum of (a) the Executive's Annual Base Salary in effect on date of termination and (b) the Executive's most recent Annual Bonus. If the most recent Annual Bonus was a stock option or a stock grant, the value of the bonus will be deemed to be the number of option shares times the closing price of the Company's Common Stock for the 20 trading days prior to Termination.

Lump Sum Severance Payment. In lieu of any further salary payments to the Executive for periods subsequent to the Date of Termination, the Company shall pay to the Executive a lump sum severance payment, in cash, equal to two one and one half (21.5) (or, if less, the number of years, including fractions, from the date Date of Termination until the Executive would have reached age sixty-five (65)) times the sum of (a) the Executive's Annual Base Salary in effect on date of termination and (b) the Executive's most recent Annual Bonus. If the most recent Annual Bonus was a stock option or a stock grant, the value of the bonus will be deemed to be the number of option shares times the closing price of the Company's Common Stock for the 20 trading days prior to Termination.. (b)