Common use of Salary and Bonus Payments Clause in Contracts

Salary and Bonus Payments. On or before Employee's last day of employment with the Company, the Company shall promptly pay in a lump sum to Employee as compensation for services rendered to the Company a cash amount equal to twice the amount of Employee's annual base salary and twice the target bonus under the Executive Bonus Plan as in effect immediately prior to his date of termination. At the election of the Company, the cash amount referred to in this subparagraph 7.b.i may be paid to Employee in periodic installments in accordance with the normal salary payment procedures of the Company.

Salary and Bonus Payments. On or before Employee's last day of employment with the Company, the Company shall promptly pay in a lump sum to Employee as compensation for services rendered to the Company a cash amount equal to twice the amount of twice the Employee's annual base salary as in effect at the date of termination and twice the amount of the Employee's target bonus under the Executive Bonus Plan as for the fiscal year in effect immediately prior to his which the date of termination. At the election of the Companytermination occurs, the cash amount referred to in this subparagraph 7.b.i may be paid to Employee in periodic installments in accordance with the normal salary payment procedures of the Companymultiplied by two.

Salary and Bonus Payments. On or before Employee's last day of employment with the Company, the Company shall promptly pay in a lump sum to Employee as compensation for services rendered to the Company a cash amount equal to twice the amount of twice the Employee's annual base salary and twice the target bonus under the Executive Bonus Plan as in effect immediately prior to his date of termination. At the election of the Company, the cash amount referred to in this subparagraph 7.b.i 8.a. may be paid to Employee in periodic installments in accordance with the normal salary payment procedures of the Company.