Common use of Termination Compensation Clause in Contracts

Termination Compensation. Termination Compensation equal to two times Executive's Base Period Income shall be paid in a single sum payment in cash. If at the time of the Executive's termination of employment the Executive is not a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the later of the thirtieth (30th) business day after Executive's employment termination or the first day of the month following Executive's employment termination. If at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

Appears in 8 contracts

Samples: Executive Severance Agreement (Simmons First National Corp), Executive Severance Agreement (Simmons First National Corp), Executive Severance Agreement (Simmons First National Corp)

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Termination Compensation. Termination Compensation equal to two 1.00 times Executive's Base Period Income shall be paid in a single sum payment in cash. If at the time of the Executive's termination of employment the Executive is not a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the later of the thirtieth (30th) business day after Executive's employment termination or the first day of the month following Executive's employment termination. If at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

Appears in 1 contract

Samples: Executive Severance Agreement (Simmons First National Corp)

Termination Compensation. Termination Compensation equal to two 2.00 times Executive's Base Period Income shall be paid in a single sum payment in cash. If at the time of the Executive's termination of employment the Executive is not a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the later of the thirtieth (30th) business day after Executive's employment termination or the first day of the month following Executive's employment termination. If at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

Appears in 1 contract

Samples: Executive Severance Agreement (Simmons First National Corp)

Termination Compensation. Termination Compensation equal to two three times Executive's Base Period Income shall be paid in a single sum payment in cash. If at the time of the Executive's termination of employment the Executive is not a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the later of the thirtieth (30th) business day after Executive's employment termination or the first day of the month following Executive's employment termination. If at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

Appears in 1 contract

Samples: Executive Severance Agreement (Simmons First National Corp)

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Termination Compensation. Termination Compensation equal to two times Executive's ’s Base Period Income shall be paid in a single sum payment in cash. If at the time of the Executive's ’s termination of employment the Executive is not a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the later of the thirtieth (30th) business day after Executive's ’s employment termination or the first day of the month following Executive's ’s employment termination. If at the time of the Executive's ’s termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the first day of the seventh (7th) month following the Executive's ’s employment termination.

Appears in 1 contract

Samples: Executive Severance Agreement (Simmons First National Corp)

Termination Compensation. Termination Compensation equal to two 2.00 times Executive's ’s Base Period Income shall be paid in a single sum payment in cash. If at the time of the Executive's ’s termination of employment the Executive is not a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the later of the thirtieth (30th) business day after Executive's ’s employment termination or the first day of the month following Executive's ’s employment termination. If at the time of the Executive's ’s termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to Executive shall be made on the first day of the seventh (7th) month following the Executive's ’s employment termination.

Appears in 1 contract

Samples: Executive Severance Agreement (Simmons First National Corp)

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