Examples of CIC Qualified Termination in a sentence
A lump-sum payment equal to 100% of the Executive’s target annual bonus as in effect for the fiscal year in which the CIC Qualified Termination occurs.
Any restricted stock units, performance shares, performance units, and/or similar full value awards that vest under this paragraph will be settled on the 61st day following the CIC Qualified Termination.
Unless otherwise required under the next following two sentences or, with respect to awards subject to Section 409A of the Code, under Section 5(b) below, any restricted stock units, performance shares, performance units, and/or similar full value awards that vest under this paragraph will be settled on the 61st day following the CIC Qualified Termination.
Payment or reimbursement of the COBRA Coverage or COBRA Benefit, as applicable, for up to 12 months following your CIC Qualified Termination.
If the termination of Executive’s employment with the Company Group is not a Non-CIC Qualified Termination or a CIC Qualified Termination, then the Executive will not be eligible to receive severance or other benefits under this Agreement.
A lump-sum payment equal to 100% of the greater of (x) the projected amount of Executive’s bonus for the fiscal year in which the CIC Qualified Termination occurs; or (y) Executive’s target annual bonus as in effect for the fiscal year in which the CIC Qualified Termination occurs.
Shares of Stock payable pursuant to this Section 2.6 shall be paid within the 30 days after the date on which the Committee determines and certifies in writing the number of shares of Stock (if any) that are payable pursuant to this Section 2.6, which determination and certification shall be made by the Committee no later than the November 30th that next follows the end of the Company’s fiscal year in which such CIC Qualified Termination occurs.
If your Service terminates due to a CIC Qualified Termination before you attain Normal Retirement Age, you will become vested in this Award upon your CIC Qualified Termination, subject to the Release (as described in the CIC Severance Plan) becoming non-revocable.
On a CIC Qualified Termination, an Eligible Employee will be eligible to receive a lump-sum payment equal to a percentage of the Eligible Employee’s target bonus as in effect for the fiscal year in which the Qualified Termination occurs, payable on the first Company payroll date following the effective date of the Release (subject to any delay as provided in Section 9), less applicable withholdings.
For the avoidance of doubt, depending on an Eligible Employee’s applicable Tier and whether such Eligible Employee’s Qualified Termination is a Non-CIC Qualified Termination or a CIC Qualified Termination, not all of the payments and benefits described in this Policy may be available to such Eligible Employee.