CHANGE OF CONTROL SEVERANCE PAYMENT. The Company shall continue to pay to the Executive for a period of twenty-four (24) months following the Termination Date the Executive's Base Salary at the rate in effect on the Termination Date, payable in accordance with the customary payroll practices of the Company, PLUS an immediate single lump sum cash payment of any Base Salary, Bonus Plan bonuses, allowable vacation and unreimbursed expenses accrued but unpaid as of the Termination Date.
CHANGE OF CONTROL SEVERANCE PAYMENT. Executive shall be eligible for a lump sum cash severance payment, to be made as soon as practicable following the Release Effective Date and subject to required payroll deductions and tax withholdings (the “Change of Control Severance Payment”), in an amount equal to (i) (x) 12 months of Executive’s Base Salary as in effect immediately before the Termination Date, plus (y) an amount equal to the Target Cash Bonus for the fiscal year in which the Termination Date occurs. For the avoidance of doubt, the Base Salary used in determining Executive’s Change of Control Severance Payment shall be calculated prior to giving effect to any reduction in Base Salary that would give rise to Executive’s right to resign for Good Reason.
CHANGE OF CONTROL SEVERANCE PAYMENT. The Company shall pay the Executive a single lump sum cash payment equal to three times the Executive's "Average Compensation" (as such term is defined herein), PLUS any Base Salary, Stock Appreciation Bonuses, Bonus Plan bonuses, vacation and unreimbursed expenses accrued but unpaid as of the Termination Date (collectively, the "Change of Control Payment"). For purposes hereof, the Executive's "Average Compensation" shall equal the aggregate amount of Base Salary and Stock Appreciation Bonuses and Bonus Plan bonuses paid to the Executive for the two calendar years immediately preceding the Termination Date, divided by two.
CHANGE OF CONTROL SEVERANCE PAYMENT. If, at any time during (i) the six months prior to the date on which a Change of Control occurs, or (ii) the two year period beginning on the date of a Change of Control (collectively, the “Change of Control Termination Period”), the Executive’s employment is terminated by the Company for any reason other than Cause, death or his becoming Permanently Disabled, then the Executive shall receive the severance benefits described in Section 8(a) of this Agreement, except that, in lieu of the Severance Payment described in Sections 8(a)(ii), (iii) and (iv), the Executive shall receive an amount equal to the Change of Control Severance Payment (as defined below). The Change of Control Severance Payment shall be made in a single, lump sum cash payment no later than twenty (20) days after the effective date of the Executive’s termination of employment. If the Executive is entitled to the Change of Control Severance Payment described in this subsection (c) by reason of clause (i) above, the Executive shall receive the severance benefits described in Section 8(a) above after his employment is terminated, regardless of whether the Change of Control actually occurs, and the Executive shall receive the Change of Control Severance Payment, less the value of compensation received in accordance with Sections 8(a)(ii), (iii) and (iv), to the extent such compensation is received prior to the Change of Control, only if the Change of Control is consummated within the time period covered by clause (i) and Executive shall receive such additional amounts in a single, lump sum cash payment no later than twenty (20) days after the consummation of the Change of Control.
CHANGE OF CONTROL SEVERANCE PAYMENT. Executive shall be eligible for a lump sum cash severance payment, to be made as soon as practicable following the Release Effective Date, in an amount equal to (i) 18 months of Executive’s Base Salary as in effect immediately before the Termination Date, plus (ii) an amount equal to 1.5x the Target Cash Bonus for the fiscal year in which the Termination Date occurs, subject to required payroll deductions and tax withholdings. For such purposes, Executive’s Base Salary will be calculated prior to giving effect to any reduction in Base Salary that would give rise to Executive’s right to resign for Good Reason;
CHANGE OF CONTROL SEVERANCE PAYMENT. If (i) the Company is subject to a Change of Control (as that term is defined below) “CIC”, within the four (4) years immediately following the Effective Date of this Agreement and (ii) Executive’s employment is terminated by Company within twelve (12) months after the Change of Control, other than for Cause (as defined in subsection 8.1 above), Executive shall be entitled to receive a “CIC Severance Payment” equivalent to twelve (12) months of Executive’s then current Base Salary. The CIC Severance Payment shall be in lieu of any other severance payments (including the Severance Payment described in subsection 8.2 above) and shall be payable in equal installments in accordance with Company’s regular payroll cycle beginning on the first regular payday occurring 60 days following the termination date. Executive will only receive the applicable CIC Severance Payment if Executive complies with all of the Severance Obligations described in subsection 8.2 above.
CHANGE OF CONTROL SEVERANCE PAYMENT. If the Executive’s employment terminates within two years following a Change in Control for any reason other than Cause, death or Disability, he shall be entitled to receive the greater of (a) the Change of Control Severance Payment (as defined below) or (b) the Severance Payment as defined in Section 8 of this Agreement, in a single, lump sum payment within twenty (20) days of his termination date. If the Executive has received the Severance Payment because of a termination of employment that occurred within six (6) months of a Change of Control, he shall be entitled to an additional payment equal to the difference between (a) the Change of Control Severance Payment and (b) the Severance Payment. Such payment shall be made in a single lump sum within twenty (20) days after the consummation of the Change of Control. In either case, the Executive shall be entitled to the benefits provided in Sections 7 and 8(b).
CHANGE OF CONTROL SEVERANCE PAYMENT. Executive shall be eligible for a lump sum cash severance payment, to be made as soon as practicable following the Release Effective Date and subject to required payroll deductions and tax withholdings (the “Change of Control Severance Payment”), in an amount equal to (i) (x) 18 months of Executive’s Base Salary as in effect immediately before the Termination Date, plus (y) an amount equal to 1.5x the Target Cash Bonus for the fiscal year in which the Termination Date occurs, plus (ii) an additional amount, if any, determined in accordance with, and subject to, the criteria set forth below: Transaction Price Payment Below $6.00 •No payment. $6.00 to $9.00 per share •A cash payment equal to 125% of the combined dollar value of the Target RSU Bonus and the Target Stock Option Bonus. $9.01 to $12.00 per share •A cash payment equal to 150% of the combined dollar value of the Target RSU Bonus and the Target Stock Option Bonus. Greater than $12.00 per share •A cash payment equal to 200% of the combined dollar value of the Target RSU Bonus and the Target Stock Option Bonus. For the avoidance of doubt, the Base Salary used in determining Executive’s Change of Control Severance Payment shall be calculated prior to giving effect to any reduction in Base Salary that would give rise to Executive’s right to resign for Good Reason.
CHANGE OF CONTROL SEVERANCE PAYMENT. WALLXXX xxxll be entitled to the Severance Payment as calculated below in the event that WALLXXX'x xxxloyment is terminated (i) by WALLXXX xxxer a Change of Control pursuant to Section 3.6; or (ii) by the Company for any reason after a Change of Control. The Severance Payment shall be an amount equal to the greater of:
CHANGE OF CONTROL SEVERANCE PAYMENT. In the event that MAS's employment is terminated following a Change of Control, MAS shall be entitled to the Severance Payment equal to two (2) times his existing Base Salary, plus the bonus payable in accordance with section 4.2 herein. The Severance Payment shall be payable in twelve (12) monthly installments on the first day of each month commencing the month following termination, for a period of twelve (12) months.
