Common use of Computation and Payment of Severance Amount Clause in Contracts

Computation and Payment of Severance Amount. For purposes of this Agreement, the term “Severance Amount” shall mean an amount equal to three times the sum of the following: (I) the “Base Salary Component,” which shall be equal to the highest Base Salary of Officer during the Employment Term, plus (II) the “Cash Flow Component,” which shall be equal to the average of the Cash Flow Bonus awarded to Officer for the two fiscal years of the Company immediately preceding the fiscal year in which Officer’s employment is terminated and of the Cash Flow Bonus that would have been awarded to Officer (if his employment had not terminated) for the fiscal year in which his employment is terminated based on the formula set forth in Section 4(b), or, if greater, for the three fiscal years preceding the fiscal year in which his employment is terminated; provided that in any event, regardless of the formula set forth in Section 4(b), the Cash Flow Component shall be no less than one time the Base Salary Component and no more than two times the Base Salary Component. The Severance Amount shall be payable in approximately equal installments in accordance with the Company’s customary payroll practices over the 36 months following the termination of Officer’s employment hereunder.

Computation and Payment of Severance Amount. For purposes of this Agreement, the term “Severance Amount” shall mean an amount equal to three times the sum of the following: (I) the “Base Salary Component,” which shall be equal to the highest Base Salary of Officer during the Employment Term, plus (II) the “Cash Flow Bonus Component,” which shall be equal to the average of the Cash Flow Annual Incentive Bonus awarded to Officer for the two fiscal years of the Company immediately preceding the fiscal year in which Officer’s employment is terminated and of the Cash Flow Annual Incentive Bonus that would have been awarded to Officer (if his employment had not terminated) for the fiscal year in which his employment is terminated based on the formula set forth in Section 4(b), or, if greater, for the three fiscal years preceding the fiscal year in which his employment is terminated; provided that in any event, regardless of the formula set forth in Section 4(b), the Cash Flow Bonus Component shall be no less than one time the Base Salary Component and no more than two times the Base Salary Component. The Severance Amount shall be payable in approximately equal installments in accordance with the Company’s customary payroll practices over the 36 months following the termination of Officer’s employment hereunder.

Computation and Payment of Severance Amount. For purposes of this Agreement, the term “Severance Amount” shall mean an amount equal to three two times the sum of the following: (I) the “Base Salary Component,” which shall be equal to the highest Base Salary of Officer during the Employment Term, plus (II) the “Cash Flow Bonus Component,” which shall be equal to the average of the Cash Flow Bonus bonus awarded to Officer for the two fiscal years of the Company immediately preceding the fiscal year in which Officer’s employment is terminated and of the Cash Flow Bonus bonus that would have been awarded to Officer (if his employment had not terminated) for the fiscal year in which his employment is terminated based on any objective criteria established during that fiscal year by the formula set forth in Section 4(b)Board, or, if greater, for the three fiscal years preceding the fiscal year in which his employment is terminated; provided provided, however, that (i) in the event Officer’s employment is terminated prior to December 31, 2010, then the Bonus Component shall be based upon the average bonus awarded to Officer for the fiscal years of his employment hereunder, and (ii) in any event, regardless of the formula set forth in Section 4(b), the Cash Flow Bonus Component shall be no less more than one time the Base Salary Component and no more than two times the Base Salary Component. The Severance Amount shall be payable in approximately equal installments in accordance with the Company’s customary payroll practices over the 36 24 months following the termination of Officer’s employment hereunder.