Common use of Cash Severance Clause in Contracts

Cash Severance. The Company shall make a single lump sum severance payment to Executive in an amount equal to Executive’s Base Annual Salary in effect as of the Termination Date plus an amount equal to Executive’s Annual Bonus target in effect as of the Termination Date, less required tax withholdings and deductions (the “Change in Control Payment”). The Change in Control Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of termination.

Appears in 11 contracts

Samples: Employment Agreement (Orexigen Therapeutics, Inc.), Employment Agreement (Orexigen Therapeutics, Inc.), Employment Agreement (Orexigen Therapeutics, Inc.)

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Cash Severance. The Company shall make a single lump sum severance payment to Executive in an amount equal to Executive’s Base Annual Salary in effect as of the Termination Date plus an amount equal to Executive’s Annual Bonus target in effect as of the Termination Date, multiplied by one point five (1.5), less required tax withholdings and deductions (the “Change in Control Payment”). The Change in Control Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of termination.

Appears in 6 contracts

Samples: Employment Agreement (Orexigen Therapeutics, Inc.), Employment Agreement (Orexigen Therapeutics, Inc.), Employment Agreement (Orexigen Therapeutics, Inc.)

Cash Severance. The Company shall make a single lump sum severance payment to Executive in an amount equal to Executive’s Base Annual Salary in effect as of the Termination Date plus an amount equal to Executive’s Annual Bonus target in effect as of the Termination Date, less required tax withholdings and deductions (the “Change in Control Severance Payment”). The Change in Control Severance Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of termination.

Appears in 6 contracts

Samples: Employment Agreement (Orexigen Therapeutics, Inc.), Employment Agreement (Orexigen Therapeutics, Inc.), Employment Agreement (Orexigen Therapeutics, Inc.)

Cash Severance. The Company shall make a single lump sum severance payment to Executive in an amount equal to Executive’s Base Annual Salary in effect as of the Termination Date plus an amount equal to Executive’s Annual Bonus target in effect as of the Termination Date$370,000, multiplied by one point five (1.5), less required tax withholdings and deductions (the “Change in Control Payment”). The Change in Control Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of termination.

Appears in 4 contracts

Samples: Employment Agreement (Orexigen Therapeutics, Inc.), Employment Agreement (Orexigen Therapeutics, Inc.), Employment Agreement (Orexigen Therapeutics, Inc.)

Cash Severance. The Company shall make pay the Executive, in a single lump sum severance cash payment to Executive in on the 30th day following the Date of Termination, an amount equal to nine months of the Executive’s Base Annual Salary in effect as upon termination; provided, however that if the Date of Termination occurs on or within 12 months following a Change in Control Event, the Termination Company instead shall pay the Executive, in a single lump sum cash payment on the 30th day following the Date plus of Termination, an amount equal to 12 months of the Executive’s Annual Bonus target Base Salary in effect as of the Termination Date, less required tax withholdings and deductions (the “Change in Control Payment”). The Change in Control Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of upon termination.

Appears in 2 contracts

Samples: Employment Agreement (Agendia N.V.), Employment Agreement (Agendia N.V.)

Cash Severance. The Company shall make a single lump sum severance payment to Executive in an amount equal to Executive’s Base Annual Salary in effect as of the Termination Date plus an amount equal to Executive’s Annual Bonus target in effect as of the Termination Date, multiplied by 1.5, less required tax withholdings and deductions (the “Change in Control Payment”). The Change in Control Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of termination.

Appears in 2 contracts

Samples: Employment Agreement (Orexigen Therapeutics, Inc.), Employment Agreement (Orexigen Therapeutics, Inc.)

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Cash Severance. The Company shall make a single lump sum severance payment to Executive in an amount equal to Executive’s Base Annual Salary in effect as of the Termination Date plus an amount equal to Executive’s Annual Bonus target in effect as of the Termination Date, multiplied by two (2), less required tax withholdings and deductions (the “Change in Control Payment”). The Change in Control Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of termination.

Appears in 1 contract

Samples: Employment Agreement (Orexigen Therapeutics, Inc.)

Cash Severance. The Company shall make a single lump sum severance payment to Executive in an amount equal to Executive’s Amended Base Annual Salary in effect as of the Termination Date plus an amount equal to Executive’s Annual Bonus target in effect as of the Termination Date, multiplied by one point five (1.5), less required tax withholdings and deductions (the “Change in Control Payment”). The Change in Control Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of termination.

Appears in 1 contract

Samples: Employment Agreement (Orexigen Therapeutics, Inc.)

Cash Severance. The Company shall make a single lump sum severance payment to Executive in an amount equal to Executive’s Base Annual Salary in effect as of the Termination Date plus an amount equal to Executive’s Annual Bonus target in effect as of the Termination Date, multiplied by two (2), less required tax withholdings and deductions (the “Change in Control Payment”). The Change in Control Severance Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of termination.

Appears in 1 contract

Samples: Employment Agreement (Orexigen Therapeutics, Inc.)

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