Additional Payment. The Company shall pay to the Executive in a lump sum in cash within 30 days after the Date of Termination, an amount equal to three (3) times the sum of (x) the Executive’s Annual Base Salary and (y) an amount equal to the highest amount of Bonus received by Executive for any fiscal year in the last three (3) fiscal years.
Appears in 11 contracts
Samples: Executive Employment Agreement (TransCoastal Corp), Executive Employment Agreement (Claimsnet Com Inc), Executive Employment Agreement (Claimsnet Com Inc)
Additional Payment. The Company shall pay to the Executive in a lump sum in cash cash, subject to Section 11 below, within 30 days after the Date of Termination, or as soon thereafter as is reasonably practicable, an amount equal to three (3) times the sum of (x) the Executive’s Annual Base Salary and (y) an amount equal to the highest amount greater of (A) the Highest Annual Bonus received by Executive or (B) the target bonus for any fiscal the year in during which the last three (3) fiscal yearsDate of Termination occurs.
Appears in 2 contracts
Samples: Employment Agreement (Kaydon Corp), Employment Agreement (Kaydon Corp)
Additional Payment. The Company shall pay to the Executive in a lump sum in cash cash, subject to Section 11 below, within 30 days after the Date of Termination, an amount equal to three (3) times the sum of (x) the Executive’s Annual Base Salary and the greater of (yA) an amount equal to the highest amount Highest Annual Bonus or (B) the target bonus for the year during which the Date of Bonus received by Executive for any fiscal year in the last three (3) fiscal yearsTermination occurs.
Appears in 1 contract
Samples: Employment Agreement (Kaydon Corp)
