Cash Severance Payments. You will be eligible to receive cash severance equal to twelve (12) months of Base Salary following the termination date, subject to payroll withholding and deduction (“Severance Payments”), and paid according to the Company’s regular payroll procedures. Payment of Severance Payments shall commence on the sixtieth (60th) day following your employment termination, which initial payment shall include a lump sum payment equal to the aggregate semi-monthly installments that would otherwise have been due during the period between the termination date and the sixtieth (60th) day, but for the sixty (60)-day delay in this provision. Thereafter, the remaining installments shall be paid on the Company’s regular paydays.
Cash Severance Payments. Provided that within sixty (60) days following Executive’s Termination Upon a Change in Control, Executive executes the Release and the period for revocation of the Release has expired without the Release having been revoked, Executive shall be entitled to receive an amount equal to Executive’s Base Salary Rate multiplied by eighteen (18). The Company shall pay such amount to Executive in a lump sum cash payment within ten (10) business days following the last to occur of (i) Executive’s termination of employment or (ii) the last day on which Executive may revoke the Release in accordance with its terms.
Cash Severance Payments. (i) The Company shall pay to the Executive an amount, in cash, equal to the severance pay to which the Executive would be entitled under the Xxxxxx Group Inc. Executive Separation Pay Plan as amended on December 31, 2008 (the “Executive Separation Pay Plan”) if the Separation from Service were a Separation from Service for which severance benefits were payable under that Plan and the provisions of Sections 4.3, 4.4 and 4.5 thereof did not apply. For the avoidance of doubt, the severance pay to which the Executive would be entitled if the Separation from Service were a Separation from Service for which severance benefits were payable under the Executive Separation Pay Plan and the provisions of Sections 4.3, 4.4 and 4.5 thereof did not apply is twelve months of base salary as in effect immediately prior to the Separation from Service. Such amount shall be paid at the same times at which it would be paid under the Executive Separation Pay Plan if the provisions of Sections 4.3, 4.4 and 4.5 thereof did not apply, and in the same installments. However, if the Separation from Service for which the amount described in this Section 6.1(A)(i) is payable takes place during the two years following the occurrence of a “change in control event” with respect to the Executive (within the meaning of Treasury Regulation section
Cash Severance Payments. Employee shall receive an aggregate amount equal to one times the sum of (A) the Employee’s annual base salary in effect on the date of termination plus (B) the greater of (x) the Employee’s annual target bonus amount for the year of termination assuming a 100% payout on all objectives under the Company’s bonus plan in effect on the date of termination or (y) such annual target bonus amount times the average rate of annual bonus paid to each executive officer (compared to such officer’s target bonus) covered under a change of control severance agreement substantially similar to this Agreement averaged over the two most recently completed fiscal years preceding the date of termination. The Company shall pay the foregoing amount to the Employee in a lump sum within 60 days following the Employee’s Separation from Service.
Cash Severance Payments. A lump sum amount equal to the sum of (i) two (2) times the Executive’s base salary for the year in which the Involuntary Termination occurs and (ii) the Executive’s target incentive award for the year in which the Involuntary Termination occurs. The severance payments shall be subject to the Company’s collection of all applicable withholding taxes, and the Executive will only be paid the amount remaining after such withholding taxes have been collected. The severance payments shall be made on the sixtieth day (60th) following the Executive’s Separation from Service provided the Release is effective following any applicable revocation.
Cash Severance Payments. A lump sum amount equal to two (2) times the Executive’s base salary for the year in which the Involuntary Termination occurs. The severance payments shall be subject to the Company’s collection of all applicable withholding taxes, and the Executive will only be paid the amount remaining after such withholding taxes have been collected. The severance payments shall be made on the sixtieth day (60th) following the Executive’s Separation from Service provided the Release is effective following any applicable revocation.
Cash Severance Payments. The last sentence of the first paragraphs of Section 7(d) and Section 7(e) of the Employment Agreement is deleted and the following provision is inserted in its stead.
Cash Severance Payments. In case of II.A or II.B above, the Executive will receive a severance payment equal to three (3) times his Annual Cash Compensation. This severance payment includes, among other things, the compensation relating to any required contractual or statutory notice period.
Cash Severance Payments. Pay to Executive severance payments of one month's Employment Base Salary for a period equal to 12 MONTHS following the date of termination; (the "Severance Period"). Such severance payments shall be paid at regular payroll intervals or in one lump sum within thirty (30) days of the Termination Date as determined by Company.
Cash Severance Payments. Employee shall receive an aggregate amount (the “Severance Amount”) equal to [(A)] _____4 times the Employee’s annual base salary in effect on the date of termination [plus (B) _____5 times the greater of (x) the Employee’s annual target bonus amount for the year of termination assuming a one hundred percent (100%) payout on all objectives under the Company’s bonus plan in effect on the date of termination or (y) the Employee’s actual annual bonus paid to the Employee in the most recently completed fiscal year preceding the date of termination]6. Subject to the terms of the Release, the Company shall pay the Severance Amount to the Employee in a lump sum within sixty (60) days from the Employee’s separation from service; provided the Release has been timely executed and delivered to the Company, and not revoked prior to such date.
