ERISA Limitations. (a) No payments made pursuant to the Plan are contingent, either directly or indirectly, upon a Participant’s retirement. (b) In no event shall the amount of a Severance Benefit or similar benefits payable under the Plan exceed two (2) times the applicable Participant’s annual compensation paid during the year immediately preceding his or her Termination Date. (c) Under no circumstances will any Severance Benefits or similar benefits under the Plan be payable to a Participant more that twenty-four (24) months following his or her Termination Date.
Appears in 2 contracts
Sources: Executive Change in Control Severance Plan (Sourcefire Inc), Executive Change in Control Severance Plan (Sourcefire Inc)
ERISA Limitations. (a) No payments made pursuant to the Plan are contingent, either directly or indirectly, upon a Participant’s retirement.
(b) In no event shall the amount of a Severance Retention Benefit or similar benefits benefit payable under the Plan exceed two (2) times the applicable Participant’s annual compensation paid during the year immediately preceding his or her Termination Date.
(c) Under no circumstances will any Severance Retention Benefits or similar benefits under the Plan be payable to a Participant more that twenty-four (24) months following his or her Termination Date.
Appears in 2 contracts
Sources: Executive Retention Plan (Sourcefire Inc), Executive Retention Plan (Sourcefire Inc)