PAYMENTS UPON TERMINATION DUE TO CHANGE OF CONTROL Sample Clauses

PAYMENTS UPON TERMINATION DUE TO CHANGE OF CONTROL. (a) Following Termination Due to Change of Control, the Executive shall be paid an amount equal to two times the annual base salary paid the Executive by the Corporation in effect immediately prior to the date the Change of Control occurs, and two times the average bonus payment received in the three years immediately prior to the date the Change of Control occurs. Such amount shall be paid in 24 monthly installments beginning on the 15th day of the month following the month in which the Executive’s employment with the Corporation terminates.
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PAYMENTS UPON TERMINATION DUE TO CHANGE OF CONTROL. Upon your Termination Due to Change of Control under the Policy, the Purchaser agrees to cause the Company to pay you and the Company agrees to pay you for a period of two (2) years in monthly payments: (i) your base salary immediately before your termination date; (ii) the average monthly amount of the incentive bonuses awarded to you during the two (2) years preceding termination; and (iii) all Current Benefits.
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PAYMENTS UPON TERMINATION DUE TO CHANGE OF CONTROL. Upon your Termination Due to Change of Control under the Policy or the Company Policy, the Purchaser agrees to cause the Company to pay you and the Company agrees to pay you your base salary at its highest rate during the twelve (12) months preceding your termination date in monthly installments, plus the average monthly amount of the bonuses awarded to you during the three (3) years preceding termination and all Current Benefits for a period of two (2) years, which shall commence once your twelve (12) month post termination obligation to consult (set forth at SECTION 4 below) has been satisfied. A precondition of the Purchaser's and the Company's obligations hereunder is the fulfillment of your obligations in the Policy.
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PAYMENTS UPON TERMINATION DUE TO CHANGE OF CONTROL. (a) Following Termination Due to Change of Control, the Executive shall be paid an amount equal to one times her annual base salary (exclusive of incentive compensation and fringe benefits) paid the Executive by the Company in effect immediately prior to the date the Change of Control occurs. Such amount shall be paid in 12 monthly installments beginning on the 15th day of the month following the month in which the Executive's employment with the Company terminates. (b) If the scheduled payments under paragraph (a) above would result in disallowance of any portion of the Company's deduction therefore under Section 162(m) of the Code, the payments called for under paragraph (a) shall be limited to the amount which is deductible, with the balance to be paid as soon as deductible by the Company. However, in such event, the Company shall pay the Executive on a quarterly basis an amount of interest based on the prime rate recomputed each quarter on the unpaid scheduled payments. Section 3.
Sample 1
PAYMENTS UPON TERMINATION DUE TO CHANGE OF CONTROL. (a) Following Termination Due to Change of Control, the Executive shall be paid: (i) an amount equal to two times the annual base salary paid the Executive by the Corporation in effect immediately prior to the date the Change of Control occurs, and two times the Executive’s target bonus amount in effect immediately prior to the date the Change of Control occurs; and (ii) an amount equal to the pro rated portion of the Executive’s target bonus for the fiscal year, pro rated based on the number of days served in the fiscal year in which the Executive’s employment with the Corporation terminates. Such amount shall be paid in 24 equal monthly installments beginning on the 15th day of the month following the month in which the Executive’s employment with the Corporation terminates.
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Related to PAYMENTS UPON TERMINATION DUE TO CHANGE OF CONTROL

  • Termination Due to Change of Control A “Termination Due to Change of Control” shall occur if within the 24 month period beginning with the date a Change of Control occurs (i) the Executive’s employment with the Corporation is involuntarily terminated (other than by reason of death, disability or Cause) or (ii) the Executive’s employment with the Corporation is voluntarily terminated by the Executive subsequent to (A) any reduction in the total of the Executive’s annual base salary (exclusive of fringe benefits) and the Executive’s target bonus in comparison with the Executive’s annual base salary and target bonus immediately prior to the date the Change of Control occurs, (B) a significant diminution in the responsibilities or authority of the Executive in comparison with the Executive’s responsibility and authority immediately prior to the date the Change of Control occurs or (C) the imposition of a requirement by the Corporation that the Executive relocate to a principal work location more than 50 miles from the Executive’s principal work location immediately prior to the date the Change of Control occurs.

  • Payments Upon Termination 7.1 The Customer shall pay the Company liquidated damages (total monthly fee as specified in the Sales and Services Agreement x remaining months in the Term) upon the occurrence of any of the following events before the expiry of the Term:

  • Payment Upon Termination In the event that the City or Consultant terminates this Agreement pursuant to Section 8, the City shall compensate the Consultant for all outstanding costs and reimbursable expenses incurred for work satisfactorily completed as of the date of written notice of termination. Consultant shall maintain adequate logs and timesheets in order to verify costs incurred to that date. The City shall have no obligation to compensate Consultant for work not verified by logs or timesheets.

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