Common use of Severance Payment Clause in Contracts

Severance Payment. Executive will receive: (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (6) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (as in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earned.

Appears in 4 contracts

Samples: Employment Agreement (Geeknet, Inc), Employment Agreement (Geeknet, Inc), Employment Agreement (Geeknet, Inc)

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Severance Payment. Executive will receive: (A) continuing payments of receive severance pay (less applicable withholding taxes) for in the form of a period of lump sum payment equivalent to six (6) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary base salary (as in effect immediately prior to Executive’s termination(A) and the Change of Control, or (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination, whichever is greater).

Appears in 4 contracts

Samples: Change of Control Severance Agreement (Bluearc Corp), Change of Control Severance Agreement (Bluearc Corp), Change of Control Severance Agreement (Bluearc Corp)

Severance Payment. Executive will receive: (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (6) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (as in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of the performance goals under such plan and the quarterly bonus that would have otherwise been earned.

Appears in 3 contracts

Samples: Employment Agreement (Geeknet, Inc), Employment Agreement (SourceForge, Inc), Employment Agreement (SourceForge, Inc)

Severance Payment. Executive will receive: (A) continuing payments of receive a lump sum severance pay (less applicable withholding taxes) for a period of six (6) months from the date of such termination payment equal to the pro-rata portion twelve (12) months’ of Executive’s Base Salary (as Salary, at the rate in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under employment, less all required tax withholdings and other applicable deductions, which will be paid sixty days following such plan and the quarterly bonus that would have otherwise been earnedtermination of employment.

Appears in 3 contracts

Samples: Employment Agreement (Shutterstock, Inc.), Employment Agreement (Shutterstock, Inc.), Employment Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive: (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (6) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (as in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earned).

Appears in 3 contracts

Samples: Employment Agreement (Geeknet, Inc), Employment Agreement (Geeknet, Inc), Employment Agreement (Geeknet, Inc)

Severance Payment. Executive will receive: receive a lump sum severance payment equal to eighteen (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (618) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (base salary as in effect immediately prior to the date of Executive’s termination) termination of employment, less all required tax withholdings and (B) other applicable deductions, which will be paid as practicable following Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedemployment.

Appears in 3 contracts

Samples: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will receive: receive severance in an amount equal to 18 (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (6eighteen) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (base salary as in effect immediately prior to the date of Executive’s termination) termination of employment, less all required tax withholdings and (B) other applicable deductions, which will be paid as soon as practicable following Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedemployment.

Appears in 3 contracts

Samples: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will be entitled to receive: ; (A) continuing payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary rate, as then in effect, for a period of six eighteen (618) months from the date of such termination equal termination, to be paid periodically in accordance with the pro-rata portion of ExecutiveCompany’s Base Salary (as in effect immediately prior to Executive’s termination) normal payroll policies; and (B) a lump-sum payment equal to 100% of Executive’s quarterly target annual bonus under as of the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which date of such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination.

Appears in 2 contracts

Samples: Executive Employment Agreement (NeurogesX Inc), Executive Employment Agreement (NeurogesX Inc)

Severance Payment. Executive will receive: (A) continuing payments of receive severance pay (less applicable withholding taxes) for a period of six twelve (612) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary base salary (as in effect immediately prior to Executive’s termination(A) and the Change of Control, or (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination, whichever is greater).

Appears in 2 contracts

Samples: Change of Control Severance Agreement (Infinera Corp), Change of Control Severance Agreement (Infinera Corp)

Severance Payment. Executive will receive: receive a lump sum severance payment equal to twelve (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (612) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (annual base salary as in effect immediately prior to Executive’s terminationtermination date or (if greater) and (B) Executive’s quarterly bonus under at the Company’s Named Executive Officer Bonus Policy and Plan for level in effect immediately prior to the entire quarter in which such termination occurred based on the achievement Change of performance goals under such plan and the quarterly bonus that would have otherwise been earnedControl.

Appears in 2 contracts

Samples: Severance and Change of Control Agreement (Netsuite Inc), Severance and Change of Control Agreement (Netsuite Inc)

Severance Payment. Executive will receive: (A) continuing payments of receive severance pay (less applicable withholding taxes) for a period of six (6) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary base salary (as in effect immediately prior to Executive’s termination(A) and the Change of Control, or (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination, whichever is greater).

Appears in 2 contracts

Samples: Change of Control Severance Agreement (Infinera Corp), Change of Control Severance Agreement (Infinera Corp)

Severance Payment. Executive will receive: (A) continuing payments of receive a lump sum severance pay payment (less applicable withholding taxes) for a period of six equal to twelve (612) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary base salary (as in effect immediately prior to Executive’s termination(A) and the Change of Control, or (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination, whichever is greater).

Appears in 2 contracts

Samples: Change of Control Severance Agreement (Infinera Corp), Change of Control Severance Agreement (Infinera Corp)

Severance Payment. Executive will receive: receive severance in an amount equal to eighteen (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (618) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (base salary as in effect immediately prior to the date of Executive’s termination) termination of employment, less all required tax withholdings and (B) other applicable deductions, which will be paid as soon as practicable following Executive’s quarterly bonus under termination of employment but in no event later than the Companynext pay period after Executive’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedemployment.

Appears in 2 contracts

Samples: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will receive: receive a lump sum severance payment equal to twelve (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (612) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (base salary as in effect immediately prior to the date of Executive’s termination) termination of employment, less all required tax withholdings and (B) other applicable deductions, which will be paid as soon as practicable following Executive’s quarterly bonus under termination of employment but in no event later than the Companynext pay period following Executive’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedemployment.

Appears in 2 contracts

Samples: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will receive: receive severance in an amount equal to 18 (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (6eighteen) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (base salary as in effect immediately prior to the date of Executive’s termination) termination of employment, less all required tax withholdings and (B) other applicable deductions, which will be paid as soon as practicable following Executive’s quarterly bonus under termination of employment but in no event later than the Companynext pay period after Executive’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedemployment.

Appears in 2 contracts

Samples: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will be entitled to receive: (A) continuing payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary rate, as then in effect, for a period of six twelve (612) months from the date of such termination equal termination, to be paid periodically in accordance with the pro-rata portion of ExecutiveCompany’s Base Salary (as in effect immediately prior to Executive’s termination) normal payroll policies; and (B) Executive’s quarterly bonus a lump-sum payment equal to 100% of the Additional Payment if the termination that triggers severance payments under this Section 9(e) occurs prior to the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement end of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtwelve months following April 27, 2011.

Appears in 2 contracts

Samples: Executive Employment Agreement (NeurogesX Inc), Executive Employment Agreement (NeurogesX Inc)

Severance Payment. Executive will receive: (A) continuing payments of receive a lump sum severance pay (less applicable withholding taxes) for a period of six (6) months from the date of such termination payment equal to the pro-rata portion twelve (12) months’ of Executive’s Base Salary (as Salary, at the rate in effect immediately prior to such termination of employment, less all required tax withholdings and other applicable deductions, which will be paid in the first payroll cycle following the sixtieth day following Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedemployment.

Appears in 2 contracts

Samples: Employment Agreement (Shutterstock, Inc.), Employment Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive: (A) continuing payments of receive severance pay (less applicable withholding taxes) for in the form of a period of lump sum payment equivalent to thirty-six (636) months from the date of such termination equal to the pro-rata portion of Executive’s Annual Base Salary (as in effect immediately prior to Executive’s termination(A) and the Change of Control, or (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination, whichever is greater).

Appears in 2 contracts

Samples: Employment Agreement (Diligent Capital Holdings, Inc.), Employment Agreement (Diligent Capital Holdings, Inc.)

Severance Payment. Executive will receive: (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six three (63) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (as in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of the performance goals under such plan and the quarterly bonus that would have otherwise been earned.

Appears in 2 contracts

Samples: Employment Agreement (Geeknet, Inc), Employment Agreement (Geeknet, Inc)

Severance Payment. Executive will receive: (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six twelve (612) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (as in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earned.

Appears in 2 contracts

Samples: Employment Agreement (SourceForge, Inc), Employment Agreement (SourceForge, Inc)

Severance Payment. Executive will receive: receive severance in an amount equal to twelve (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (612) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (base salary as in effect immediately prior to the date of Executive’s termination) termination of employment, less all required tax withholdings and (B) other applicable deductions, which will be paid as soon as practicable following Executive’s quarterly bonus under termination of employment but in no event later than the Companynext pay period after Executive’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedemployment.

Appears in 2 contracts

Samples: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

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Severance Payment. Executive will be entitled to receive: ; (A) continuing payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary rate, as then in effect, for a period of six twelve (612) months from the date of such termination equal termination, to be paid periodically in accordance with the pro-rata portion of ExecutiveCompany’s Base Salary (as in effect immediately prior to Executive’s termination) normal payroll policies; and (B) a lump-sum payment equal to 100% of Executive’s quarterly target annual bonus under as of the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which date of such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination.

Appears in 2 contracts

Samples: Executive Employment Agreement (NeurogesX Inc), Executive Employment Agreement (NeurogesX Inc)

Severance Payment. Executive will receive: (A) continuing payments of a lump sum severance pay payment in an amount equal to twelve (less applicable withholding taxes) for a period of six (612) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (as in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earned).

Appears in 1 contract

Samples: Employment Agreement (Capnia, Inc.)

Severance Payment. Executive will receive: receive a lump sum severance payment in an amount equal to eighteen (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (618) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (base salary as in effect immediately prior to the date of Executive’s termination) termination of employment, less all required tax withholdings and (B) other applicable deductions, which will be paid as soon as practicable following Executive’s quarterly bonus under termination of employment but in no event later than the Companynext pay period following Executive’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedemployment.

Appears in 1 contract

Samples: Executive Employment Agreement (Solar Integrated Roofing Corp.)

Severance Payment. Executive will receive: (A) continuing payments of a lump-sum severance pay (less applicable withholding taxes) for a period of payment in an amount equal to six (6) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (as in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earned).

Appears in 1 contract

Samples: Employment Agreement (TeleNav, Inc.)

Severance Payment. Executive will receive: (A) continuing payments of receive a lump sum severance pay (less applicable withholding taxes) for a period of payment equal to six (6) months from the date of such termination equal to the pro-rata portion months’ of Executive’s Base Salary (as Salary, at the rate in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under employment, less all required tax withholdings and other applicable deductions, which will be paid sixty days following such plan and the quarterly bonus that would have otherwise been earnedtermination of employment.

Appears in 1 contract

Samples: Employment Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive: (A) continuing payments of receive a lump sum severance pay payment (less applicable withholding taxes) for a period of six (6) months from the date of such termination equal to two (2) times the pro-rata portion of Executive’s Base Salary annual base salary (as in effect immediately prior to Executive’s termination(A) and the Change of Control, or (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination, whichever is greater).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Infinera Corp)

Severance Payment. Executive will receive: receive a lump sum severance payment equal to twelve (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (612) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (as in effect immediately prior to the date of Executive’s termination) termination of employment, less all required tax withholdings and (B) Executive’s quarterly bonus under other applicable deductions, which will be paid in accordance with the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedregular payroll procedures.

Appears in 1 contract

Samples: Employment Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive: (A) continuing payments of receive severance pay (less applicable withholding taxes) for in the form of a period of six lump sum payment equivalent to twelve (612) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary base salary (as in effect immediately prior to Executive’s termination(A) and the Change of Control, or (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination, whichever is greater).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Fuel Tech, Inc.)

Severance Payment. Executive will receive: (A) continuing payments receive a severance payment equal to sixteen months of severance pay Executive’s then current annual salary as of the date of such termination paid in a single lump sum (less applicable withholding taxes) for a period of six (6) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (as in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earned).

Appears in 1 contract

Samples: Executive Change in Control and Severance Agreement (InvenSense Inc)

Severance Payment. Executive will receive: (A) continuing payments of receive severance pay (less applicable withholding taxes) for in the form of a period of lump sum payment equivalent to six (6) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary base salary (as in effect immediately prior to Executive’s termination) and (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earned).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Bluearc Corp)

Severance Payment. Executive will receive: (A) continuing payments of receive a lump sum severance pay payment (less applicable withholding taxes) for a period of six (6) months from the date of such termination equal to two (2) times the pro-rata portion of Executive’s Base Salary base salary (as in effect immediately prior to Executive’s termination(A) and the Change of Control, or (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination, whichever is greater).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Infinera Corp)

Severance Payment. Executive will receive: (A) continuing payments of receive a lump sum severance pay payment (less applicable withholding taxes) for a period of equal to six (6) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary base salary (as in effect immediately prior to Executive’s termination(A) and the Change of Control, or (B) Executive’s quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedtermination, whichever is greater).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Infinera Corp)

Severance Payment. Executive will receive: receive a lump sum severance payment in an amount equal to twelve (A) continuing payments of severance pay (less applicable withholding taxes) for a period of six (612) months from the date of such termination equal to the pro-rata portion of Executive’s Base Salary (base salary as in effect immediately prior to the date of Executive’s termination) termination of employment, less all required tax withholdings and (B) other applicable deductions, which will be paid as soon as practicable following Executive’s quarterly bonus under termination of employment but in no event later than the Companynext pay period after Executive’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earnedemployment.

Appears in 1 contract

Samples: Executive Employment Agreement (Solar Integrated Roofing Corp.)

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