Enhanced Severance Pay Clause Samples

Enhanced Severance Pay. As soon as practicable following the Termination Date, ▇▇▇▇▇▇▇ will pay Executive, in lieu of benefits otherwise described in the ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Benefits Plan, severance pay in the following amount: (1) If Executive's last day of employment occurs outside a Control Termination Period, the severance pay amount will be equal to the sum of (i) Executive's annual base salary at the highest rate in effect during the three (3) years immediately preceding the last day of employment and (ii) the higher of either Executive's target bonus for the period in which the last day of employment occurs or Executive's average annual bonus award for the three annual bonus periods immediately preceding the last day of employment. (2) If Executive's last day of employment occurs during a Control Termination Period, the severance pay amount will be equal to [three (3) for ▇▇▇▇▇ ▇. ▇▇▇▇▇] [two (2) for all other Executives] times the amount determined under (c)(1) above.

Enhanced Severance Pay. As soon as practicable within sixty (60) days following the Termination Date, ▇▇▇▇▇▇▇ will pay Executive, in lieu of payments and benefits otherwise described in the ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Benefits Plan, severance pay in a lump sum in the following amount: (1) If Executive’s last day of employment occurs outside a Control Termination Period, the severance pay amount will be equal to the sum of (i) Executive’s annual base salary at the highest rate in effect during the three (3) years immediately preceding the Termination Date and (ii) the higher of either Executive’s target bonus for the period in which the last day of employment occurs or Executive’s average annual bonus award for the three annual bonus periods immediately preceding the last day of employment. (2) If Executive’s Termination Date occurs during a Control Termination Period, the severance pay amount will be equal to two (2) times the amount determined under (b)(1) above.

Enhanced Severance Pay. As soon as practicable following the Termination Date, ▇▇▇▇▇▇▇ will pay Executive, in lieu of benefits otherwise described in the ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Benefits Plan, the following: ▇. ▇▇▇▇▇▇▇▇▇ pay equal to the sum of (1) Executive’s annual base salary at the highest rate in effect during the three (3) years immediately preceding the last day of employment and (2) the higher of either Executive’s target incentive for the period in which the last day of employment occurs or Executive’s average annual incentive award for the three annual incentive periods immediately preceding the last day of employment. ii. If Executive’s last day of employment occurs during a Control Termination Period and Executive is a party to a Change in Control Agreement, section (i) shall not apply and the severance pay amount will be determined under the Change in Control Agreement.

Enhanced Severance Pay. In case of termination of employment by arrangement, the Employee is eligible to a severance pay topped up by: a) Twice his average monthly salary – if and when employment is terminated by the end of the month in which either the suggestion to terminate the employment relationship was made, or the notice/ resignation submitted. b) A multiple of average monthly salary - provided that the employment relationship is terminated by the first month of the notice period.

Enhanced Severance Pay. In exchange for Executive entering into this Agreement and signing the General Release and compliance with all covenants below, Alliance Data agrees to pay to Executive beginning no later than the second payroll cycle after the Effective Date, but no sooner than the first payroll cycle after the Termination Date, the enhanced severance pay of eight-hundred, ten thousand dollars ($810,000), which equals seventy-eight (78) weeks (“Enhanced Severance Pay Period”) of Executive’s current base salary, payable in bi-weekly installment payments. The first installment shall be a “catch-up” payment equal to Executive’s base salary for the period of time following the Termination Date through the date such first installment is paid, and the balance of the enhanced severance pay shall be paid in regular installments payable in accordance with their original schedule through the expiration of the Enhanced Severance Pay Period. All payments under this paragraph will be subject to appropriate payroll tax deductions and income tax withholdings. Executive agrees that the enhanced severance pay outlined in this paragraph is over and above any sums earned by Executive as wages, commissions and/or bonuses through the Termination Date. Alliance Data and Executive agree that as of the Termination Date, Executive is no longer eligible to participate in Alliance Data’s 401(k) savings plan, and therefore, the aforementioned severance payments shall not be subject to 401(k) withholdings or employer matching. Executive further agrees that if Executive is rehired by Alliance Data or any of its affiliates prior to the expiration of the Enhanced Severance Pay Period or prior to all severance payments hereunder being made to Executive, the severance payments to Executive will cease as of the rehire date.

Enhanced Severance Pay. In consideration of Employee's covenants and obligations set forth in the Agreement and the attachments thereto, the Company shall pay Employee an additional three (3) months of enhanced severance pay (the "Enhanced Severance Pay"). Employee acknowledges said enhanced severance payments are over and above that to which Employee is otherwise entitled under any employment agreement or otherwise and are being given as additional consideration in exchange for Employee's agreement to the terms and conditions of the Agreement (including this Attachment and Attachment B thereto).

Enhanced Severance Pay. As soon as practicable following the Termination Date and subject to Executive signing and not rescinding a general release in a form satisfactory to ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ will pay Executive, in lieu of benefits otherwise described in the ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Benefits Plan, the following: ▇. ▇▇▇▇▇▇▇▇▇ pay equal to the sum of (1) Executive’s annual base salary at the highest rate in effect during the twelve (12) months preceding the Termination Date, (2) any unpaid cash incentive under the Annual Cash Incentive Plan awarded for the fiscal year ended prior to the Termination Date, and (3) the target cash incentive under the Annual Cash Incentive Plan for the period in which the Termination Date occurs, prorated to the Termination Date based on a fraction, the numerator of which is the number of days the Executive was employed by ▇▇▇▇▇▇▇ during the performance period and the denominator of which is the number of calendar days in the performance period. Subject to Section 8, this amount will be paid in a lump sum within 10 calendar days after the rescission period ends under the general release. Notwithstanding the foregoing, if Executive is entitled to payment under this Section 5(b)(i) but was employed by ▇▇▇▇▇▇▇ less than 12 months, in place of item (1) above, Executive shall receive severance pay equal to (A) one-half of Executive’s annual base salary if Executive was employed by ▇▇▇▇▇▇▇ for 6 months or less, or (B) if Executive was employed by ▇▇▇▇▇▇▇ for more than 6 months but less than 12 months, a prorated portion of Executive’s annual base salary based on a fraction, the numerator of which is the number of days the Executive was employed by ▇▇▇▇▇▇▇ and the denominator of which is 365. ii. If Executive’s last day of employment occurs during a Control Termination Period and Executive is a party to a Change in Control Agreement, section (i) shall not apply and the severance pay amount will be determined under the Change in Control Agreement.