Common use of Severance Computation Clause in Contracts

Severance Computation. For purposes of computing any severance amount payable under the Severance Agreement or the CIC Agreement, annual base salary shall mean the Executive’s existing base salary as of February 29, 2012 or any increase therein after such date, and target annual cash incentive bonus or Target Incentive Rate shall mean the “target annual incentive participation rate” of the Executive as of February 29, 2012, which is 75% of the Executive’s base salary, or any increase therein after such date. Xxxxxxx X. Xxxxx

Appears in 1 contract

Samples: Clarification and Modification (Talbots Inc)

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Severance Computation. For purposes of computing any severance amount payable under the Severance Agreement or the CIC Agreement, annual base salary shall mean the Executive’s existing base salary as of February 29, 2012 or any increase therein after such date, and target annual cash incentive bonus or Target Incentive Rate shall mean the “target annual incentive participation rate” of the Executive as of February 29, 2012, which is 75% of the Executive’s base salary, or any increase therein after such date. Xxxxxxx X. Xxxxx.

Appears in 1 contract

Samples: Clarification and Modification (Talbots Inc)

Severance Computation. For purposes of computing any severance amount payable under the Severance Agreement or the CIC Agreement, annual base salary shall mean the Executive’s existing base salary as of February 29, 2012 or any increase therein after such date, and target annual cash incentive bonus or Target Incentive Rate shall mean the “target annual incentive participation rate” of the Executive as of February 29, 2012, which is 75100% of the Executive’s base salary, or any increase therein after such date. Xxxxxxx X. Xxxxx.

Appears in 1 contract

Samples: Clarification and Modification (Talbots Inc)

Severance Computation. For purposes of computing any severance amount payable under the Severance Agreement or the CIC Agreement, annual base salary shall mean the Executive’s existing base salary as of February 29, 2012 or any increase therein after such date, and target annual cash incentive bonus or Target Incentive Rate shall mean the “target annual incentive participation rate” of the Executive as of February 29, 2012, which is 75% of the Executive’s base salary, or any increase therein after such date. Xxxxxxx Xxxxxxxxx X. XxxxxXxxxxxxxx

Appears in 1 contract

Samples: Clarification and Modification (Talbots Inc)

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Severance Computation. For purposes of computing any severance amount payable under the Severance Agreement or the CIC Agreement, annual base salary shall mean the Executive’s existing base salary as of February 29, 2012 or any increase therein after such date, and target annual cash incentive bonus or Target Incentive Rate shall mean the “target annual incentive participation rate” of the Executive as of February 29, 2012, which is 7550% of the Executive’s base salary, or any increase therein after such date. Xxxxxxx X. XxxxxXxxx Xxxxxx confidential

Appears in 1 contract

Samples: Clarification and Modification (Talbots Inc)

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