Common use of Form and Amount Clause in Contracts

Form and Amount. Upon the Executive's involuntary termination other than for Cause during the Employment Term, the Company will pay an amount to the Executive as follows: (a) if the termination occurs on or prior to the second anniversary of the Closing Date, an amount equal to three times the sum of the Executive's annual salary and target annual incentive compensation in effect immediately prior to the termination, multiplied by a fraction the numerator of which is the number of full months remaining in the Employment Term and the denominator of which is 36; and (b) if the termination occurs after the second anniversary of the Closing Date, an amount equal to the sum of the Executive's annual salary and target annual incentive compensation in effect immediately prior to the termination. Any amount due pursuant to this Section 3.3 will be payable in a lump sum less applicable taxes within 30 days following termination.