Common use of Severance and Bonus Payments Clause in Contracts

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) twelve six (126) 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 an amount equal to the pro-rated portion (based on number of months worked in the Company’s fiscal year of the Separation) of Executive’s then-current annual target bonus opportunity(with such pro-ration to commence on January 1 of the year in which the Executive incurs a Separation and ending on the date of the Executive’s Separation). Such payment shall will be paid in a cash lump sum payment in accordance with the Company’s standard payroll procedurespayment, 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) 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) twelve [eighteen (18)]*[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) [150%]*[100%]** 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.