Xxxxxxxxx Benefits. Within five business days after the Termination ------------------ Date, the Company shall pay Executive a lump sum amount, in cash, equal to: (i) three times the sum of: (a) Executive's Base Salary, and (b) Executive's highest Bonus earned in respect of any of the last three Company fiscal years preceding the Change in Control, and (ii) Executive's Target Bonus multiplied by a fraction, the numerator of which shall equal the number of days Executive was employed by the Company or an affiliate in the calendar year in which the Termination Date occurs and the denominator of which shall equal 365.
Appears in 4 contracts
Samples: Termination Protection Agreement (Imperial Credit Industries Inc), Termination Protection Agreement (Imperial Credit Industries Inc), Termination Protection Agreement (Imperial Credit Industries Inc)
Xxxxxxxxx Benefits. Within five business days after the ------------------ Termination ------------------ Date, the Company shall pay Executive a lump sum amount, in cash, equal to:
(i) three times the sum of: :
(a) Executive's Base Salary, and and
(b) Executive's highest Bonus earned in respect of any of the last three Company fiscal years preceding the Change in Control, and and
(ii) Executive's Target Bonus multiplied by a fraction, the numerator of which shall equal the number of days Executive was employed by the Company or an affiliate in the calendar year in which the Termination Date occurs and the denominator of which shall equal 365.
Appears in 2 contracts
Samples: Termination Protection Agreement (Imperial Credit Industries Inc), Termination Protection Agreement (Imperial Credit Industries Inc)
Xxxxxxxxx Benefits. Within five business days after the Termination ------------------ Date, the Company shall pay Executive a lump sum amount, in cash, equal to:
(i) three times the sum of: :
(a) Executive's Base Salary, and and
(b) Executive's highest Bonus earned in respect of any of the last three Company fiscal years preceding the Change in Control, and and
(ii) Executive's Target Bonus multiplied by a fraction, the numerator of which shall equal the number of days Executive was employed by the Company or an affiliate in the calendar year in which the Termination Date occurs and the denominator of which shall equal 365.
Appears in 1 contract
Samples: Termination Protection Agreement (Imperial Credit Industries Inc)