Change in Control Severance Amount definition

Change in Control Severance Amount means an amount equal to the sum of (i) two times the greater of (A) the Executive’s base annual salary in effect as of the Date of Termination or (B) the average of the Executive’s base annual salary paid for the five fiscal years ending prior to the Date of Termination, plus (ii) two times the greater of (A) the annual cash bonus awarded by the Board to the Executive with respect to the Company’s most recent fiscal year ending prior to the Date of Termination or (B) the average of the annual cash bonus amounts awarded by the Board to the Executive with respect to the Company’s most recent five fiscal years ending prior to the Date of Termination.

Change in Control Severance Amount means an amount equal to 200% of the sum of (i) Executive's Annual Compensation plus (ii) his Bonus Target.

Change in Control Severance Amount means an amount equal to the sum of (A) Executive's annual base salary as of the Termination Date (as hereinafter defined) and (B) the greater of (1) the average Annual Bonus (as hereinafter defined) for the three fiscal years prior to the Termination Year (as hereinafter defined) or (2) the target Annual Bonus for the Termination Year.

Examples of Change in Control Severance Amount in a sentence

• The employment agreements with the NEOs provide that if, following a Change of Control, the Company terminates the NEO’s employment with the Company without cause or the NEO resigns from his/her employment with the Company for Good Reason, then the NEO will be entitled to a Change in Control Severance Amount.

• The Change in Control Severance Amount described in this Section 7(c)(i), less applicable withholding of any tax amounts, shall be paid by the Company to the Executive not later than 10 business days after the applicable Date of Termination.

• Subject Section 8.13, Change in Control Severance Amount shall be paid in a lump-sum as soon as administratively practicable following the effectiveness of the Release Agreement and, in any event, no later than sixty (60) days immediately following the Qualifying Termination Date.

• The Company shall pay the Change in Control Severance Amount within 60 days after the Termination, provided that if that 60-day period extends over two calendar years, the Company shall make the payment in the second calendar year, and further provided that the Company, in its sole discretion, in the circumstances, may pay the Change in Control Severance Amount by way of one or more lump sum payments, by way of salary continuance or by a combination of both.

• The Company shall pay the Change in Control Severance Amount within 60 days after the Termination, provided that if that 60-day period extends over two calendar years, the Company shall make the payment in the second calendar year, and further provided that the Company, in its sole discretion, in the circumstances, may pay the Change inControl Severance Amount by way of one or more lump sum payments, by way of salary continuance or by a combination of both.

More Definitions of Change in Control Severance Amount

Change in Control Severance Amount means an amount equal to the excess of (i) two (2) times the sum of (a) an amount equal to the Executive’s annual Base Salary at the rate in effect as of the Executive’s Termination Date, plus (b) an amount equal to the average cash bonuses paid to the Executive by the Employer during the two (2) years prior to the Executive’s Terminate Date, over (ii) the Pre-Merger Change in Control Payment Amount.

Change in Control Severance Amount means, in the event of termination of the Executive’s employment by the Company without Cause or by the Executive with Good Reason within one (1) year after the date of a Change in Control of the Company, an amount equal to one (1) times the sum of (A) the Executive’s annual Base Salary as in effect immediately prior to the Termination Date and (B) the Executive’s Target Bonus for the Bonus Period in which termination occurs.

Change in Control Severance Amount means the amount resulting from multiplying: (1) 1.5 times (2) the sum of (i) the Employee’s Base Salary and (ii) the dollar amount that would have been paid to Employee under the Company’s Annual Incentive Plan in the fiscal year of the Change in Control as such plan was in effect immediately prior to the Change in Control, and assuming that the one hundred percent (100%) of the target level of performance under such plan was achieved.

Change in Control Severance Amount means an amount equal to the sum of:

Change in Control Severance Amount shall equal three (3) times the sum of (a) an amount equal to the Executive’s annual Base Salary at the rate in effect as of the Executive’s Termination Date, plus (b) an amount equal to the highest annual bonus paid to the Executive by the Employer during the last three (3) years prior to the Executive’s Terminate Date.

Change in Control Severance Amount means an amount equal to the sum of (i) two times the greater of (A) the Executive’s base annual salary in effect as of the Date of Termination or (B) the average of the Executive’s base annual salary paid for the five full fiscal years ending prior to the Date of Termination (or, if less, the number of full fiscal years during which the Executive has been employed by the Company prior to the Date of Termination), plus (ii) two times the greater of (A) the annual cash bonus awarded by the Board to the Executive with respect to the Company’s most recent fiscal year ending prior to the Date of Termination or (B) the average of the annual cash bonus amounts awarded by the Board to the Executive with respect to the Company’s most recent five fiscal years ending prior to the Date of Termination (or, if less, the number of full fiscal years during which the Executive has been employed by the Company prior to the Date of Termination). 

Change in Control Severance Amount means the amount equal to two (2) times the sum of (i) the greater of the Executive’s then current annual base salary or the Executive’s annual base salary as of the date one (1) day prior to his or her Termination Date, (ii) the designated percentage of the amount determined under (i) above payable as annual bonus compensation for the year in which the Change in Control occurs, (iii) the aggregate dollar amount accrued under the Long Term Incentive Plan payable in the two plan years subsequent to the Change in Control, and (iv) any other incentive compensation accrued or payable in the year of the Change in Control.