Lump Sum Severance. CCOW shall make a lump-sum payment (“Severance Benefit”) to the Executive in an amount in cash equal to the Executive’s annual compensation if (i) the Executive’s employment with CCOW or a subsidiary of CCOW is involuntarily terminated within 12 months after a Change in Control of CCOW, except for termination for Cause under section 5(a) of this Severance Agreement or (ii) if the Executive terminates employment with CCOW or a subsidiary of CCOW for Good Reason within 12 months after a Change in Control of CCOW. Subject to section 16, the payment required under this section 2(a) is payable no later than 15 business days after the date the Executive’s employment terminates and shall not be reduced to account for the time value of money or discounted to present value. If the Executive terminates employment for Good Reason, the date of termination shall be the date specified by the Executive in the notice of termination. If the Executive is removed from office or if the Executive’s employment terminates before the Change in Control of CCOW occurs but after a confidentiality agreement is entered into with a third party regarding a Change in Control of CCOW, and if those discussions ultimately conclude with a Change in Control of CCOW within 12 months of the date of such confidentiality agreement, then for purposes of this Agreement Executive’s Separation of Service with CCOW or a subsidiary of CCOW shall be deemed to have occurred after the Change in Control of CCOW, and Executive shall be entitled to the Severance Benefit subject to the application of the provisions in section 16, herein. For purposes of this Agreement, annual compensation means (x) the Executive’s annual base salary on the date of the Change in Control excluding any compensation that may be earned in the Executive’s capacity as a director if the Executive is serving as a director, plus (y) the average bonus earned by the Executive in the three calendar years immediately preceding the year in which the Change in Control occurs, regardless of when the bonus is paid. CCOW recognizes that the bonus compensation earned by the Executive for a particular year’s service might be paid in the year after the calendar year in which the bonus is earned. The term bonus means the sum of any nonperformance based bonus compensation and nonequity incentive compensation (performance based bonus) of the type that is required to be reported by the Securities and Exchange Commission’s rules governing disclosure of...
Lump Sum Severance. Any school employee in this group who (a) attains the age of fifty-five (55) by no later than December 31st of the calendar year in which he/she retires, (b) has fifteen (15) continuous years of service in the school corporation, and (c) has given proper written notification of intent to retire to the Superintendent’s office no later than March 1st of the last school year of teaching prior to retirement, is eligible for a lump sum severance payment equal to two thousand dollars ($2,000.00) at retirement. For mid-year retirements or other times throughout the year, other than the end of the school year, a retiring employee shall provide at least thirty (30) days advance written notice to the Superintendent to receive this benefit unless it is an emergency situation. This severance amount may be paid to the school employee by the school corporation from a pooled 457(b) plan or similar mechanism.
Lump Sum Severance. The Company will pay you, as severance, the aggregate sum of $513,381.27 payable within fifteen (15) days after the effective date of the Separation Date Release subject to applicable deductions and withholding and any applicable deductions under Section 2(b) (“Severance”).
Lump Sum Severance. The Company (or its Successor) shall pay to Executive a lump sum a cash payment equal to three (3) times Executive’s Average Annual Compensation, less $1.00.
Lump Sum Severance. The Company will pay Executive, as severance, twelve (12) weeks of pay, amounting to $94,153.85, subject to necessary withholdings and deductions.
Lump Sum Severance. 2.1 The Company agrees to pay to Xx Xxxxxxx, who explicitly accepts, at the latest on August 31, 2011 a gross severance payment equal to EUR 318.109,16, as accepted by Xx Xxxxxxx as full and final settlement of all possible disputes according to any severance payment. Laon Lawyers - settlement agreement 28.6.2011 - page 5 to 9
Lump Sum Severance. Within seventy-five (75) days following such Separation of Service (or at such later time as may be provided under Section 12(a)), the Company shall pay or cause to be paid to Executive a lump sum cash amount equal to two (2) times the sum of (i) Tier II Agreement Executive's annual Base Salary and (ii) Executive's Target Bonus. If the seventy-five (75)-day period following a Separation from Service begins in one calendar year and ends in a second calendar year (a "Crossover 75-Day Period") and if there are any payments due Executive that are: (i) non-qualified deferred compensation subject to section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), (ii) conditioned on Executive signing and not revoking the Release, and (iii) otherwise due to be paid during the portion of the Crossover 75-Day Period that falls within the first year, then such payments will be delayed and paid in a lump sum during the portion of the Crossover 75-Day Period that falls within the second year.
Lump Sum Severance. The Company will pay to you the gross amount of $703,230, subject to applicable deductions and withholding, less any amount due for a negative paid time off balance. This payment will be made within five (5) business days following the Effective Date defined in Section 12(h).
Lump Sum Severance. Lifetouch (or its Successor) shall pay to Executive a lump sum cash payment equal to two (2) times the sum of (A) the Executive’s Base Salary plus (B) the Executive’s Target Incentive Bonus.
Lump Sum Severance. On the tenth (10th)business day following such Separation from Service (or at such later time as may be provided under Section 4(h)), the Company shall pay or cause to be paid to Executive a lump sum cash amount equal to [ 2] times the sum of (i) Executive’s annual Base Salary , and (ii) Executive’s Target Bonus.
