SALARY, PERFORMANCE AWARD, AND BONUS PAYMENTS. The Company shall pay in a lump sum to Employee at the time of Employee's termination such amount of compensation due Employee for services rendered to the Company, as well as compensation for unused vacation time and earned bonus, as has accrued but remains unpaid. Any and all other rights granted to Employee under this Agreement shall terminate as of the date of termination.
SALARY, PERFORMANCE AWARD, AND BONUS PAYMENTS. In the event Employee's employment with the Company is terminated within three years following the occurrence of a Change of Control (other than as a consequence of his death or disability, or of his normal retirement under the Company's retirement plans and practices) either (x) by the Company for any reason other than for Cause or (z) by Employee with Good Reason as provided in Paragraph 6, then Employee shall be entitled to receive from the Company, the following:
SALARY, PERFORMANCE AWARD, AND BONUS PAYMENTS. The Company shall pay in a lump sum to Employee at the time of Employee's termination (a) an amount equal to the unpaid salary due to the Employee for services performed prior to the date of termination of employment plus (b) such amount of Employee's target incentive bonus as has been earned based upon fulfilling performance goals, and been accrued but remains unpaid plus (c) compensation for unused vacation time. Any and all other rights granted to Employee under this Agreement shall terminate as of the date of termination.
SALARY, PERFORMANCE AWARD, AND BONUS PAYMENTS. The Company shall pay to Employee as compensation for services rendered to the Company a cash amount equal to one-half (1/2) of the Employee's annual base salary as then in effect plus the greater of (x) one-half (1/2) the amount of Employee's targeted incentive bonus for the fiscal year in which such employment is terminated, or (y) the amount of the targeted incentive bonus to which he is entitled but which remains unpaid. At the election of the Company, the cash amount referred to in this Paragraph 7(b)(i) may be paid to Employee in one lump sum or in no less than six equal monthly periodic installments, without interest, in accordance with the regular salary payment practices of the Company, with the first such installment to be paid on or before Employee's last day of employment with the Company, and no interest shall be paid with respect to any amount not paid on the Employee's date of termination.
SALARY, PERFORMANCE AWARD, AND BONUS PAYMENTS. On or before Employee’s last day of employment with the Company, the Company shall pay in a lump sum to Employee as compensation for services rendered to the Company a cash amount equal to one-half the amount of Employee’s annual Base Salary and the greater of (x) one-half the target bonus under the Management Bonus Program as in effect immediately prior to his date of termination or (y) the amount of the bonus under the Management Bonus Program to which he is entitled but which remains unpaid. At the election of the Company, the cash amount referred to in this Paragraph 7b.i. may be paid to Employee in periodic installments, without interest, in accordance with the regular salary payment practices of the Company, with the first such installment to be paid on or before Employee’s last day of employment with the Company, and no interest shall be paid with respect to any amount not paid on the Employee’s date of termination.
SALARY, PERFORMANCE AWARD, AND BONUS PAYMENTS. On or before Employee’s last day of employment with the Company, the Company shall pay in a lump sum to Employee, as compensation for services rendered to the Company, a cash amount equal to six (6) months of Employee’s Base Salary as in effect immediately prior to his date of termination.
SALARY, PERFORMANCE AWARD, AND BONUS PAYMENTS. Following the occurrence of a Change of Control (other than as a consequence of his death or Disability (as defined below), Employee shall be entitled to receive from the Company, the following:
SALARY, PERFORMANCE AWARD, AND BONUS PAYMENTS. In the event of a Change of Control (other than as a consequence of his death or disability, or of his normal retirement under the company's retirement plans and practices) at the employee's option the Employee may elect to terminate his services and be entitled to receive from the Company the following:
SALARY, PERFORMANCE AWARD, AND BONUS PAYMENTS. In the event Employee’s employment with the Company is terminated within one year following the occurrence of a Change of Control (other than as a consequence of his death or disability, or of his normal retirement under the Company’s retirement plans and practices) either (i) by the Company for any reason whatsoever or (ii) by Employee with Good Reason as provided in Paragraph 6 (for the sole purpose of this Paragraph 8, the term “Good Reason” shall also include the following: “g. The Employee is demoted from the Chief Operating Officer position.”), then Employee shall be entitled to receive from the Company, the following:
SALARY, PERFORMANCE AWARD, AND BONUS PAYMENTS. On or before Employee’s last day of employment with the Company, the Company shall pay in a lump sum to Employee, as compensation for services rendered to the Company, a cash amount equal to two (2) times the amount of Employee’s Base Salary and two times his target bonus amount under the Management Bonus Program as in effect immediately prior to his date of termination. Notwithstanding the foregoing, if Employee is a “Specified Employee” of the Company for purposes of Code Section 409A at the time of a payment event set forth in Paragraph 7(b) and the Company determines in good faith no applicable exception to the requirements of Code Section 409A exists for the payment, then no payments pursuant to this Paragraph 7(b)(i) shall be made to Employee by the Company until the amount of time has passed that is necessary to avoid incurring excise taxes under Code Section 409A. Should this provision result in a delay of payments to Employee, on the first day any such payments may be made without incurring a penalty pursuant to Code Section 409A (the “409A Payment Date”), the Company shall begin to make such payments as described in this Paragraph 7(b)(i), provided that any amounts that would have been payable earlier but for the application of this Paragraph 7(b)(i) shall be paid in lump-sum on the 409A Payment Date along with accrued interest at the prime rate of interest set forth in the Western Edition of the Wall Street Journal from the date that payments to Employee should have been made under this Agreement. The balance of such severance payments shall be payable in accordance with regular payroll timing and the COBRA premiums shall be reimbursed monthly. For purposes of this provision, the term Specified Employee shall have the meaning set forth in Code Section 409A(2)(B(i) or any successor provision and the treasury regulations and rulings issued thereunder.
