Common use of Severance and Other Termination Payments Clause in Contracts

Severance and Other Termination Payments. The Company shall pay the Executive the following: (A) the Executive's Earned Salary; and (B) notwithstanding any plan provisions to the contrary, an amount (the "Pro-Rated Annual Incentive") equal to the target annual bonus applicable to the Executive for the fiscal year in which the Date of Termination occurs, multiplied by a fraction, the numerator of which is the number of completed months in such fiscal year which have elapsed on or before (and including) the Date of Termination and the denominator of which is 12; and (C) notwithstanding any plan provisions to the contrary, an aggregate amount (the "Pro-Rated Long Term Incentives") equal to the sum of the amounts awarded to the Executive in respect of each performance cycle, whether or not vested, then in progress (i.e., each performance cycle, which includes as part of the performance period the fiscal year in which the Date of Termination occurs), as accrued on the books of the Company as of the end of the month preceding the Date of Termination; and (D) the Accrued Obligations; and (E) a cash amount (the "Severance Amount") equal to three times the sum of (1) the Executive's annual Base Salary; and (2) an amount equal to the target annual bonus applicable to the Executive for the fiscal year in which the Change of Control occurs; (3) an amount equal to the long term incentive award granted to the Executive with respect to the performance period commencing in the calendar year 2000. For purposes of this Section 7(c)(i)(E)(3), if the Executive was a member of the Policy Committee at the time of the grant of such long term incentive award, such award shall be measured by the equity rights awarded to the Executive for such performance period under the terms of the Long-Term Incentive Plan for Senior Executives; otherwise, the grant of the long term incentive award referred to above shall be measured by the aggregate value of (a) the equity rights granted to such Executive for such performance cycle under the terms of the Long-Term Incentive Plan for Senior Executives and (b) the stock options granted to such Executive in March, 2000 under the terms of the John Hancock Financial Services, Inc. 1999 Lxxx-Txxx Xxxck Incentive Plan. The Earned Salary, Pro-Rated Annual Incentive, Pro-Rated Long Term Incentives, Retention Bonus and Severance Amount shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 10 days (or at such earlier date required by law), following the Date of Termination. Accrued Obligations shall be paid in accordance with the terms of the applicable plan, program or arrangement.

Severance and Other Termination Payments. The Company shall pay the Executive the following: (A) the Executive's Earned Salary; and (B) notwithstanding any plan provisions to the contrary, an amount (the "Pro-Rated Annual Incentive") equal to the target annual bonus applicable to the Executive for the fiscal year in which the Date of Termination occurs, multiplied by a fraction, the numerator of which is the number of completed months in such fiscal year which have elapsed on or before (and including) the Date of Termination and the denominator of which is 12; and (C) notwithstanding any plan provisions to the contrary, an aggregate amount (the "Pro-Rated Long Term Incentives") equal to the sum of the amounts awarded to the Executive in respect of each performance cycle, whether or not vested, then in progress (i.e., each performance cycle, which includes as part of the performance period the fiscal year in which the Date of Termination occurs), as accrued on the books of the Company as of the end of the month preceding the Date of Termination; and (D) the Accrued Obligations; and (E) a cash amount (the "Severance Amount") equal to three times the sum of (1) the Executive's annual Base Salary; and (2) an amount equal to the target annual bonus applicable to the Executive for the fiscal year in which the Change of Control occurs; (3) an amount equal to the long term incentive award granted to the Executive with respect to the performance period commencing in the calendar year 2000. For purposes of this Section 7(c)(i)(E)(3), if the Executive was a member of the Policy Committee at the time of the grant of such long term incentive award, such award shall be measured by the equity rights awarded to the Executive for such performance period under the terms of the Long-Term Incentive Plan for Senior Executives; otherwise, the grant of the long term incentive award referred to above shall be measured by the aggregate value of (a) the equity rights granted to such Executive for such performance cycle under the terms of the Long-Term Incentive Plan for Senior Executives and (b) the stock options granted to such Executive in March, 2000 under the terms of the John Hancock Financial Services, Inc. 1999 Lxxx-Txxx Xxxck Incentive Plan. The Earned Salary, Pro-Rated Annual Incentive, Pro-Rated Long Term Incentives, Retention Bonus and Severance Amount shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 10 days (or at such earlier date required by law), following the Date of Termination. Accrued Obligations shall be paid in accordance with the terms of the applicable plan, program or arrangement.

Severance and Other Termination Payments. The Company shall pay the Executive the following: (A) the Executive's Earned Salary; and (B) notwithstanding any plan provisions to the contrary, an amount (the "Pro-Rated Annual Incentive") equal to the target annual bonus applicable to the Executive for the fiscal year in which the Date of Termination occurs, multiplied by a fraction, the numerator of which is the number of completed months in such fiscal year which have elapsed on or before (and including) the Date of Termination and the denominator of which is 12; and (C) notwithstanding any plan provisions to the contrary, an aggregate amount (the "Pro-Rated Long Term Incentives") equal to the sum of the amounts awarded to the Executive in respect of each performance cycle, whether or not vested, then in progress (i.e., each performance cycle, which includes as part of the performance period the fiscal year in which the Date of Termination occurs), as accrued on the books of the Company as of the end of the month preceding the Date of Termination; and (D) the Accrued Obligations; and (E) a cash amount (the "Severance Amount") equal to three times the sum of (1) the Executive's annual Base Salary; and (2) an amount equal to the target annual bonus applicable to the Executive for the fiscal year in which the Change of Control occurs; (3) an amount equal to the long term incentive award granted to the Executive with respect to the performance period commencing in the calendar year 2000. For purposes of this Section 7(c)(i)(E)(3), if the Executive was a member of the Policy Committee at the time of the grant of such long term incentive award, such award shall be measured by the equity rights awarded to the Executive for such performance period under the terms of the Long-Term Incentive Plan for Senior Executives; otherwise, the grant of the long term incentive award referred to above shall be measured by the aggregate value of (a) the equity rights granted to such Executive for such performance cycle under the terms of the Long-Term Incentive Plan for Senior Executives and (b) the stock options granted to such Executive in March, 2000 under the terms of the John Hancock Xxxx Xxxxxxx Financial Services, Inc. 1999 LxxxLong-Txxx Xxxck Term Stock Incentive Plan. The Earned Salary, Pro-Rated Annual Incentive, Pro-Rated Long Term Incentives, Retention Bonus and Severance Amount shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 10 days (or at such earlier date required by law), following the Date of Termination. Accrued Obligations shall be paid in accordance with the terms of the applicable plan, program or arrangement.

Severance and Other Termination Payments. The Company shall pay the Executive the following: (A) the Executive's Earned Salary; and (B) notwithstanding any plan provisions to the contrary, an amount (the "Pro-Rated Annual Incentive") equal to the target annual bonus applicable to the Executive for the fiscal year in which the Date of Termination occurs, multiplied by a fraction, the numerator of which is the number of completed months in such fiscal year which have elapsed on or before (and including) the Date of Termination and the denominator of which is 12; and (C) notwithstanding any plan provisions to the contrary, an aggregate amount (the "Pro-Rated Long Term Incentives") equal to the sum of the amounts awarded to the Executive in respect of each performance cycle, whether or not vested, then in progress (i.e., each performance cycle, which includes as part of the performance period the fiscal year in which the Date of Termination occurs), as accrued on the books of the Company as of the end of the month preceding the Date of Termination; and (D) the Accrued Obligations; and (E) unless previously paid, an amount (the "Retention Bonus") equal to the retention bonus and all other payments that would have otherwise been payable to the Executive under his special retention arrangement (as established by the Board on August 11, 1997) had he remained employed by the Company as of December 31, 2002; and (F) a cash amount (the "Severance Amount") equal to three times the sum of (1) the Executive's annual Base Salary; and (2) an amount equal to the target annual bonus applicable to the Executive for the fiscal year in which the Change of Control occurs; (3) an amount equal to the long term incentive award granted to the Executive with respect to the performance period commencing in the calendar year 2000, provided that, the amount described in this Section 7(c)(i)(F)(3) shall be zero if the Effective Date of this Agreement occurs on or after December 31, 2003. For purposes of this Section 7(c)(i)(E)(37(c)(i)(F)(3), if the Executive was a member of the Policy Committee at the time of the grant of such long term incentive award, such award shall be measured by the equity rights awarded to the Executive for such performance period under the terms of the Long-Term Incentive Plan for Senior Executives; otherwise, the grant of the long term incentive award referred to above shall be measured by the aggregate value of (a) the equity rights granted to such Executive for such performance cycle under the terms of the Long-Term Incentive Plan for Senior Executives and (b) the stock options granted to such Executive in March, 2000 under the terms of the John Hancock Financial Services, Inc. 1999 Lxxx-Txxx Xxxck Incentive Plan. The Earned Salary, Pro-Rated Annual Incentive, Pro-Rated Long Term Incentives, Retention Bonus and Severance Amount shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 10 days (or at such earlier date required by law), following the Date of Termination. Accrued Obligations shall be paid in accordance with the terms of the applicable plan, program or arrangement.

Severance and Other Termination Payments. The Company shall pay the Executive the following: (A) the Executive's Earned Salary; and (B) notwithstanding any plan provisions to the contrary, an amount (the "Pro-Rated Annual Incentive") equal to the target annual bonus applicable to the Executive for the fiscal year in which the Date of Termination occurs, multiplied by a fraction, the numerator of which is the number of completed months in such fiscal year which have elapsed on or before (and including) the Date of Termination and the denominator of which is 12; and (C) notwithstanding any plan provisions to the contrary, an aggregate amount (the "Pro-Rated Long Term Incentives") equal to the sum of the amounts awarded to the Executive in respect of each performance cycle, whether or not vested, then in progress (i.e., each performance cycle, which includes as part of the performance period the fiscal year in which the Date of Termination occurs), as accrued on the books of the Company as of the end of the month preceding the Date of Termination; and (D) the Accrued Obligations; and (E) unless previously paid, an amount (the "Retention Bonus") equal to the retention bonus and all other payments that would have otherwise been payable to the Executive under his special retention arrangement (as established by the Board on August 11, 1997) had he remained employed by the Company as of December 31, 2002; and (F) a cash amount (the "Severance Amount") equal to three times the sum of (1) the Executive's annual Base Salary; and (2) an amount equal to the target annual bonus applicable to the Executive for the fiscal year in which the Change of Control occurs; (3) an amount equal to the long term incentive award granted to the Executive with respect to the performance period commencing in the calendar year 2000. For purposes of this Section 7(c)(i)(E)(37(c)(i)(F)(3), if the Executive was a member of the Policy Committee at the time of the grant of such long term incentive award, such award shall be measured by the equity rights awarded to the Executive for such performance period under the terms of the Long-Term Incentive Plan for Senior Executives; otherwise, the grant of the long term incentive award referred to above shall be measured by the aggregate value of (a) the equity rights granted to such Executive for such performance cycle under the terms of the Long-Term Incentive Plan for Senior Executives and (b) the stock options granted to such Executive in March, 2000 under the terms of the John Hancock Financial Services, Inc. 1999 Lxxx-Txxx Xxxck Incentive Plan. The Earned Salary, Pro-Rated Annual Incentive, Pro-Rated Long Term Incentives, Retention Bonus and Severance Amount shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 10 days (or at such earlier date required by law), following the Date of Termination. Accrued Obligations shall be paid in accordance with the terms of the applicable plan, program or arrangement.

Severance and Other Termination Payments. The Company shall pay the Executive the following: (A) the Executive's Earned Salary; and (B) notwithstanding any plan provisions to the contrary, an amount (the "Pro-Rated Annual Incentive") equal to the target annual bonus applicable to the Executive for the fiscal year in which the Date of Termination occurs, multiplied by a fraction, the numerator of which is the number of completed months in such fiscal year which have elapsed on or before (and including) the Date of Termination and the denominator of which is 12; and (C) notwithstanding any plan provisions to the contrary, an aggregate amount (the "Pro-Rated Long Term Incentives") equal to the sum of the amounts awarded to the Executive in respect of each performance cycle, whether or not vested, then in progress (i.e., each performance cycle, which includes as part of the performance period the fiscal year in which the Date of Termination occurs), as accrued on the books of the Company as of the end of the month preceding the Date of Termination; and (D) the Accrued Obligations; and (E) a cash amount (the "Severance Amount") equal to three times the sum of (1) the Executive's annual Base Salary; and (2) an amount equal to the target annual bonus applicable to the Executive for the fiscal year in which the Change of Control occurs; (3) an amount equal to the long term incentive award granted to the Executive with respect to the performance period commencing in the calendar year 2000. For purposes of this Section 7(c)(i)(E)(3), if the Executive was a member of the Policy Committee at the time of the grant of such long term incentive award, such award shall be measured by the equity rights awarded to the Executive for such performance period under the terms of the Long-Term Incentive Plan for Senior Executives; otherwise, the grant of the long term incentive award referred to above shall be measured by the aggregate value of (a) the equity rights granted to such Executive for such performance cycle under the terms of the Long-Term Incentive Plan for Senior Executives and (b) the stock options granted to such Executive in March, 2000 under the terms of the John Hancock Financial Services, Inc. 1999 LxxxLong-Txxx Xxxck Incentive PlanTerm Stock Incenxxxx Xxxx. The Earned Salary, Pro-Rated Annual Incentive, Pro-Rated Long Term Incentives, Retention Bonus and Severance Amount shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 10 days (or at such earlier date required by law), following the Date of Termination. Accrued Obligations shall be paid in accordance with the terms of the applicable plan, program or arrangement.

Severance and Other Termination Payments. The Company shall pay the Executive the following: (A) the Executive's Earned Salary; and (B) notwithstanding any plan provisions to the contrary, an amount (the "Pro-Rated Annual Incentive") equal to the target annual bonus applicable to the Executive for the fiscal year in which the Date of Termination occurs, multiplied by a fraction, the numerator of which is the number of completed months in such fiscal year which have elapsed on or before (and including) the Date of Termination and the denominator of which is 12; and (C) notwithstanding any plan provisions to the contrary, an aggregate amount (the "Pro-Rated Long Term Incentives") equal to the sum of the amounts awarded to the Executive in respect of each performance cycle, whether or not vested, then in progress (i.e., each performance cycle, cycle which includes as part of the --- performance period the fiscal year in which the Date of Termination occurs), as accrued pro-rated in each case by multiplying such amount by a fraction, the numerator of which is the number of completed months in the applicable performance period which have elapsed on the books of the Company as of the end of the month preceding or before (and including) the Date of TerminationTermination and the denominator of which is the total number of months in such performance period; and (D) the Accrued Obligations; and (E) a cash amount (the "Severance Amount") equal to three times the sum of (1) the Executive's annual Base Salary; andand - (2) an amount equal to the target annual bonus applicable to the - Executive for the fiscal year in which the Change of Control occurs; (3) an amount equal to the long term incentive award granted to - the Executive with respect to the most recent performance period commencing prior to the Change of Control, provided that, the amount described in this Section 7(c)(i)(D)(3) shall be zero if the Effective Date of this Agreement occurs on or after the third calendar year 2000. For purposes of this Section 7(c)(i)(E)(3), if ending after the date on which the Executive was receives a member grant of a stock option or performance shares (or similar stock based) award under any compensatory plan of the Policy Committee at Company following the time occurrence of an underwritten public offering of the grant of such long term incentive award, such award shall be measured by the equity rights awarded to the Executive for such performance period under the terms of the Long-Term Incentive Plan for Senior Executives; otherwise, the grant of the long term incentive award referred to above shall be measured by the aggregate value of (a) the equity rights granted to such Executive for such performance cycle under the terms of the Long-Term Incentive Plan for Senior Executives and (b) the stock options granted to such Executive in March, 2000 under the terms of the John Hancock Financial Services, Inc. 1999 Lxxx-Txxx Xxxck Incentive PlanCompany's common stock. The Earned Salary, Pro-Rated Annual Incentive, Pro-Rated Long Term Incentives, Retention Bonus Salary and Severance Amount shall be paid in cash in a single lump sum as soon as practicable, but in no event more than 10 days (or at such earlier date required by law), following the Date of Termination. The Pro-Rated Annual Incentive and Pro-Rated Long Term Incentives shall each be paid in cash as soon as practicable after the amount of each such payment (or any portion thereof) can be determined. Accrued Obligations shall be paid in accordance with the terms of the applicable plan, program or arrangement.