Severance and Bonus Payments. The Company or its successor shall pay the Executive (i) twelve (12) months of his or her monthly base salary (at the rate in effect immediately prior to the actions that resulted in the Separation) and (ii) a pro rata portion (based on number of months worked in the Company’s fiscal year of the Separation) of Executive’s then-current target bonus opportunity. Such payment shall be paid in a cash lump sum payment in accordance with the Company’s standard payroll procedures, which payment will be made on the first business day occurring after the sixtieth (60th) day following the Separation, provided that the Release Conditions have been satisfied.
Severance and Bonus Payments. The Company or its successor shall pay the Executive (i) an amount equal to twelve (12)-months of base salary (at the rate in effect immediately prior to the actions that resulted in the Separation) and (ii) one hundred percent (100)% of the Executive’s annual target bonus for the year in which the CIC Qualifying Termination occurs, in each case payable in a cash lump sum on the first business day occurring after the sixtieth (60th) day following the date of Separation, subject to the Executive’s satisfaction of the Release Conditions. Notwithstanding the foregoing, in the event such CIC Qualifying Termination is a Pre-CIC Qualifying Termination, then the amount paid to the Executive pursuant to clause (i) of this Section 3(a) shall be reduced by the amount of any severance already paid to the Executive pursuant to Section 2(a). In no event shall a Pre-CIC Qualifying Termination result in duplicate payments or benefits to the Executive under Sections 2 and 3 of this Agreement.
Severance and Bonus Payments. The Company or its successor shall pay the Executive (i) twelve (12) months of his or her monthly base salary (at the rate in effect immediately prior to the actions that resulted in the Separation), (ii) 100% of Executive’s then-current target bonus opportunity, and (iii) pro-rata payment of Executive’s then-current target bonus amount. Such payment shall be paid in a cash lump sum payment in accordance with the Company’s standard payroll procedures, which payment will be made on the first business day occurring after the sixtieth (60th) day following the Separation, provided that the Release Conditions have been satisfied. For the avoidance of doubt, in the event that a Change of Control occurs within three (3) months following a Qualifying Termination, then, provided that such Qualifying Termination followed a Potential Change of Control, the Executive shall receive additional payments as necessary in order to provide the benefits described in this Section 4(a).
Severance and Bonus Payments. The Company or its successor shall pay the Executive twelve (12) months of his or her monthly base salary (at the rate in effect immediately prior to the actions that resulted in the Separation). The Executive will receive his or her severance payment in a cash lump-sum which will be made on the first business day occurring after the sixtieth (60th) day following the Separation, provided that the Release Conditions have been satisfied.
Severance and Bonus Payments. The Company or its successor shall pay the Executive twelve (12) months of his or her monthly base salary at the rate in effect immediately prior to the actions that resulted in the CIC Qualifying Termination. Such payment shall be paid in a cash lump sum payment in accordance with the Company’s standard payroll procedures, which payment will be made within sixty (60) days following the Separation, subject to the Executive’s satisfaction of the release requirements set forth in Section 4 hereof.
Severance and Bonus Payments. At the Effective Time, the Company or the Parent, at Parent's discretion, shall pay or otherwise discharge or settle (subject to all applicable withholding taxes and in accordance with and to the extent then due and payable) all severance, bonus and other amounts as set forth in the employment agreements and severance agreements identified on Section 3.13 of the Company Disclosure Schedule. (h)
Severance and Bonus Payments. The Company or its successor shall pay the Executive (i) eighteen (18) months of his or her monthly base salary (at the rate in effect immediately prior to the actions that resulted in the Separation), (ii) 150% of Executive’s then-current target bonus opportunity, and (iii) pro-rata payment of Executive’s then-current target bonus amount. Such payment shall be paid in a cash lump sum payment in accordance with the Company’s standard payroll procedures, which payment will be made on the first business day occurring after the sixtieth (60th) day following the Separation, provided that the Release Conditions have been satisfied. For the avoidance of doubt, in the event that a Change of Control occurs within three (3) months following a Qualifying Termination, then, provided that such Qualifying Termination followed a Potential Change of Control, then the payments under Section 3(a) shall cease as of the date of such Change of Control and Executive shall receive additional payments as necessary in order to provide the benefits described in this Section 4(a), which in the case of the severance under Section 4(a)(i) shall be in a lump sum.
Severance and Bonus Payments. (a) Mevorah shall be entitled to receive six months' severance payments ("Xxxxxance Payments") in the aggregate amount of $153,000. The Severance Payments shall be paid to Mevorah in periodic installments in accordance with CoActive's regulxx xxxxoll practices over the six-month period beginning May 1, 2007 (the "Severance Period"), provided Mevorah is then in compliance, in all material respects, with his obxxxxxxxns under this Agreement. Notwithstanding the foregoing, the Severance Payments shall be reduced on a dollar-for-dollar basis by the amount Mevorah earns for providing personal services during the Severance Pxxxxx, provided that in no event shall the Severance Payments be reduced by more than $51,000. Mevorah hereby agrees to mitigate the Severance Payments payable herxxxxxx by using reasonable efforts to obtain other employment during the Severance Period.
Severance and Bonus Payments. The Company or its successor shall pay Executive an amount equal to the sum of (i) [____] months of Executive’s monthly base salary and (ii) a pro rata portion of Executive’s then current target annual bonus (based on the number of days employed in the performance year), each at the rate (or target level, as applicable) in effect immediately prior to the CIC Qualifying Termination. Executive will receive such severance payment in a cash lump sum, which will be paid on the first business day occurring after the sixtieth (60th) day following the CIC Qualifying Termination, provided that the Release Conditions have been satisfied. In addition, if Executive was employed on the last day of any performance period applicable to any cash incentive program of the Company in which Executive participated prior to Executive’s Separation, then Executive shall be paid such incentive compensation, if any (calculated based on actual achievement of such program’s applicable performance criteria), at the time that other participants in such program are paid thereunder, and, in any event, no later than two and one-half (2-1/2) months after the end of the taxable year in which the Separation occurs or at such earlier time as may be required by applicable law, provided that the Release Conditions have been satisfied.
Severance and Bonus Payments. The Company or its successor shall pay Executive an amount equal to the sum of (i) ( ) months of his or her monthly base salary, (ii) Executive’s then current target annual bonus, each at the rate in effect immediately prior to the actions that resulted in the Qualifying Termination and (iii) any unpaid bonuses arising from the achievement of performance goals in the fiscal year immediately prior to the fiscal year in which the Qualifying Termination occurs that Executive would have been paid had Executive remained an employee through the applicable payment date (provided that such payment date would have occurred in the fiscal year in which the Qualifying Termination occurs). Executive will receive his or her severance payment in a cash lump sum, less applicable withholdings, which will be paid on the first business day occurring after the sixtieth (60th) day following the Separation, provided that the Release Conditions have been satisfied.
