Common use of Severance and Bonus Payments Clause in Contracts

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 (12i) six (6) 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) 50% of Executive’s then-current target bonus opportunity. The Executive will receive his or her severance Such payment shall be paid in a cash lump-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 Executive an amount equal to the Executive sum of (i) twelve (12) months of his or her monthly base salary and (ii) Executive’s then current target annual bonus, each at the rate in effect immediately prior to the actions that resulted in the Separation)Qualifying Termination. The Executive will receive his or her severance payment in a cash lump-sum lump sum, which will be made paid 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) 100% of the Executive’s annual target bonus for the year in which Executive incurs a Separation. The Executive Such payment will receive his or her severance payment be paid in a cash lump-lump sum payment, 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.