Special Termination Payments means the greater of (i) the Severance Amount (as defined below) and (ii) an amount equal to eighteen (18) months’ salary at the per annum salary rate payable to you hereunder as of the Termination Date.

Special Termination Payments means (i) the Basic Termination Payments; plus (ii) the greater of (A) the “Severance Amount” (as defined below) and (B) the sum of (I) $1,500,000, plus (II) an amount equal to $800,000 multiplied by a fraction, the numerator of which is the number of days in the period beginning on the first day of the fiscal year in which your termination occurs and ending on the date of your termination, and the denominator of which is 365.

Special Termination Payments means (i) the Basic Termination Payments; plus (ii) the greater of (A) the “Severance Amount” (as defined below) and (B) the sum of $1,500,000.

Examples of Special Termination Payments in a sentence

Special Termination Payments and Non-renewal Payments are sometimes herein referred to collectively as the “Termination Payments.” All payments made to you hereunder shall be subject to applicable withholding, social security taxes and other ordinary and customary payroll deductions, including without limitation medical and other insurance premiums.
Special Termination Payments and Non-renewal Payments are sometimes herein referred to collectively as the “Termination Payments.” In addition, you shall not be precluded from enforcing any contractual rights or remedies pursuant to any separate agreement entered into between you and Company, including any stock option agreements.
In the event that the aggregate amount paid by Fortitude Re is less than the amount of Special Termination Payments due the Ceding Companies upon such commutation pursuant to the P&C Reinsurance Agreements, as a result of the insolvency of Fortitude Re or otherwise, the Reserve Cover Payment will be automatically reduced by such deficiency.

More Definitions of Special Termination Payments

Special Termination Payments means the greater of (i) the “Severance Amount” (as defined below) and (ii) the sum of $550,000.

Special Termination Payments means (i) the Basic Termination Payments; plus (ii) the greater of (A) the “Severance Amount” (as

Special Termination Payments means the greater of (i) the Severance Amount (as defined below) and (ii) the sum of (A) $1,050,000 plus (B) a pro rata discretionary annual bonus with respect to the fiscal year in which the Termination Date occurs, the amount of which pro rata discretionary annual bonus shall be determined by Company in its sole discretion, which shall be exercised by Company in good faith; provided, that the amount of such pro rata discretionary annual bonus shall in no event be less than the product of (x) $480,000 (i.e., 80% of your target bonus of $600,000) multiplied by (y) a fraction, the numerator of which is the number of days elapsed from the start of the fiscal year of termination to the Termination Date, and the denominator of which is 365.

Special Termination Payments means (i) the Basic Termination

Special Termination Payments means (i) the Basic Termination Payments; plus (ii) the greater of (A) the amount of severance pay (the “Severance Amount”) that would have been payable to you under Company policy as in effect on the Termination Date had you not been subject to an employment agreement

Special Termination Payments means the greater of (i) the Severance Amount (as defined below) and (ii) the sum of (A) $1,250,000 plus (B) a pro rata discretionary annual bonus with respect to the fiscal year in which the Termination Date occurs, the amount of which pro rata discretionary annual bonus shall be determined by Company in its sole discretion, which shall be exercised by Company in good faith.” 7. Paragraph 12 of the Agreement is hereby amended and restated in its entirety as follows:

Special Termination Payments means (i) the Basic Termination Payments; plus (ii) the greater of (A) the “Severance Amount” (as defined below) and (B) the sum of $1,700,000. In addition, Company shall (X) pay to you any awarded but unpaid bonus earned with respect to any fiscal year ending on or preceding the Termination Date and (Y) consider granting to you a pro-rata discretionary annual bonus with respect to the partial fiscal year in which your employment is terminated (adjusted to take into account the portion of such fiscal year in which you rendered services), the amount of which (if any) shall be determined by Company at its sole discretion, which shall be paid to you when bonuses are paid to employees of Company generally.