Termination Not Following Change in Control. If the Termination Date does not occur within the 15-month period immediately following a Change in Control, the Additional Payment shall be (i) an amount equal to one hundred fifty percent (150%) of Executive’s Base Salary in effect as of the Termination Date, (ii) an amount equal to one hundred fifty percent (150%) of the greater of (x) 100% of the “target” bonus for Executive for the year containing the Termination Date or (y) the amount of the Annual Bonus paid to the Executive for the year immediately preceding the year containing the Termination Date, and (iii) an additional $24,000.00 lump sum cash payment for outplacement services. In such event, the Additional Payments described in Section 6(b)(1)(C) following a Change in Control shall be inapplicable for Executive.
Appears in 6 contracts
Samples: Employment Agreement (Alta Mesa Resources, Inc. /DE), Employment Agreement (Alta Mesa Resources, Inc. /DE), Employment Agreement (Alta Mesa Holdings, LP)
