Common use of Payment in Lieu of Salary and Bonus Clause in Contracts

Payment in Lieu of Salary and Bonus. The Executive shall be entitled to receive a payment from the Company, equal to (i) two and one-half (2.5) times his Salary at the highest annualized rate in effect during the one (1) year immediately preceding the date of the Trigger Event, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (ii) two and one-half (2.5) times his maximum annual bonus, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (iii) any earned but unpaid bonuses, payable in a single lump sum within thirty (30) days of termination;

Payment in Lieu of Salary and Bonus. The Executive shall be entitled to receive a payment from the Company, equal to (i) two and one-half (2.52.0) times his Salary at the highest annualized rate in effect during the one (1) year immediately preceding the date of the Trigger Event, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (ii) two and one-half (2.52.0) times his maximum annual bonus, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (iii) any earned but unpaid bonuses, payable in a single lump sum within thirty (30) days of termination;

Payment in Lieu of Salary and Bonus. The Executive shall be entitled to receive a payment from the Company, equal to (i) two and one-half three (2.53) times his Salary at the highest annualized rate in effect during the one (1) year immediately preceding the date of the Trigger EventChange of Control, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (ii) two and one-half three (2.53) times his maximum annual bonus, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (iii) any earned but unpaid bonuses, payable in a single lump sum within thirty (30) days of termination;.

Payment in Lieu of Salary and Bonus. The Executive shall be entitled to receive a payment from the Company, equal to (i) two and one-half (2.52.0) times his Salary at the highest annualized rate in effect during the one (1) year immediately preceding the date of the Trigger Event, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (ii) two and one-half (2.52.0) times his maximum annual bonus, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (iii) any earned but unpaid bonuses, payable in a single lump sum within thirty (30) days of termination;

Payment in Lieu of Salary and Bonus. The Executive shall be entitled to receive a payment from the Company, equal to (i) two and one-half (2.52.0) times his Salary at the highest annualized rate in effect during the one (1) year immediately preceding the date of the Trigger Event, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (ii) two and one-half (2.52.0) times his maximum annual bonus, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (iii) any earned but unpaid bonuses, payable in a single lump sum within thirty (30) days of termination;

Payment in Lieu of Salary and Bonus. The Executive shall be entitled to receive a payment from the Company, equal to (i) two and one-half (2.52) times his Salary at the highest annualized rate in effect during the one (1) year immediately preceding the date of the Trigger EventChange of Control, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (ii) two and one-half (2.52) times his maximum annual bonus, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (iii) any earned but unpaid bonuses, payable in a single lump sum within thirty (30) days of termination;

Payment in Lieu of Salary and Bonus. The Executive shall be entitled to receive a payment from the Company, equal to (i) two and one-half (2.5) times his Salary at the highest annualized rate in effect during the one (1) year immediately preceding the date of the Trigger Event, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (ii) two and one-half (2.5) times his maximum annual bonus, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (iii) any earned but unpaid bonuses, payable in a single lump sum within thirty (30) days of termination;

Payment in Lieu of Salary and Bonus. The Executive shall be entitled to receive a payment from the Company, equal to (iA) two and one-half (2.52) times his Salary at the highest annualized rate in effect during the one (1) year immediately preceding the date of the Trigger Event, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (iiB) two and one-half (2.52) times his maximum annual bonus, payable in a single lump sum fifteen (15) days after the termination or, if the Executive is a Specified Employee, six (6) months and one (1) day after the termination, plus (iiiC) any earned but unpaid bonuses, payable in a single lump sum within thirty (30) days of termination;