Common use of Payment of Severance Clause in Contracts

Payment of Severance. Subject to subsections (h) and (i) below and Section 4, if the Eligible Employee incurs a Severance during the Change in Control Protection Period, the Company shall pay to him a lump sum cash payment, no later than 10 days after the Severance Date (or the date of the Change in Control, if later), equal to two and ninety-nine one-hundredths (2.99) times the Eligible Employee’s Final Pay.

Appears in 4 contracts

Samples: Change in Control Severance Agreement (Trex Co Inc), Change in Control Severance Agreement (Trex Co Inc), Change in Control Severance Agreement (Trex Co Inc)

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Payment of Severance. Subject to subsections (h) and (i) below and Section 4, if the Eligible Employee incurs a Severance during the Change in Control Protection Period, the Company shall pay to him a lump sum cash payment, no later than 10 days after the Severance Date (or the date of the Change in Control, if later), equal to two one and ninety-nine one-hundredths half (2.991 1/2) times the Eligible Employee’s Final Pay.

Appears in 3 contracts

Samples: Change in Control Severance Agreement (Trex Co Inc), Change in Control Severance Agreement (Trex Co Inc), Change in Control Severance Agreement (Trex Co Inc)

Payment of Severance. Subject to subsections (h) and (i) below and Section 4below, if the Eligible Employee incurs a Severance during the Change in Control Protection Period, the Company shall pay to him a lump sum cash payment, no later than 10 days after the Severance Date (or the date of the Change in Control, if later), equal to two and ninety-nine one-hundredths half (2.992 1/2) times the Eligible Employee’s Final Pay.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Trex Co Inc)

Payment of Severance. Subject to subsections (h) and (i) below and Section 4, if the Eligible Employee incurs a Severance during the Change in Control Protection Period, the Company shall pay to him a lump sum cash payment, no later than 10 days after the Severance Date (or the date of the Change in Control, if later), equal to two one and ninety-nine one-hundredths half (2.991 1⁄2) times the Eligible Employee’s Final Pay.

Appears in 1 contract

Samples: Change in Control Severance Agreement (Trex Co Inc)

Payment of Severance. Subject to subsections (h) and (i) below and Section 4, if the Eligible Employee incurs a Severance during the a Change in Control Protection Period, the Company shall pay to him her a lump sum cash payment, no later than 10 days payment on the 60th day after the Severance Date (or the date of the Change in Control, if later)Date, equal to two and ninety-nine one-hundredths (2.99) 2.99 times the Eligible Employee’s Final Pay.

Appears in 1 contract

Samples: Agreement (First United Corp/Md/)

Payment of Severance. Subject to subsections (h) and (i) below and Section 4below, if the Eligible Employee incurs a Severance during the Change in Control Protection Period, the Company shall pay to him a lump sum cash payment, no later than 10 days after the Severance Date (or the date of the Change in Control, if later)Date, equal to two and ninety-nine one-hundredths (2.99) 2.99 times the Eligible Employee’s Final Pay.

Appears in 1 contract

Samples: Agreement Under The (First United Corp/Md/)

Payment of Severance. Subject to subsections (h) and (i) below and Section 4, if the Eligible Employee incurs a Severance during the a Change in Control Protection Period, the Company shall pay to him or her a lump sum cash payment, no later than 10 days payment on the 60th day after the Severance Date (or the date of the Change in Control, if later)Date, equal to two and ninety-nine one-hundredths (2.992) times the Eligible Employee’s Final Pay.

Appears in 1 contract

Samples: Agreement (First United Corp/Md/)

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Payment of Severance. Subject to subsections (h) and (i) below and Section 4below, if the Eligible Employee incurs a Severance during the a Change in Control Protection Period, the Company shall pay to him a lump sum cash payment, no later than 10 days payment on the 60th day after the Severance Date (or the date of the Change in Control, if later)Date, equal to two and ninety-nine one-hundredths (2.99) 2.99 times the Eligible Employee’s Final Pay.

Appears in 1 contract

Samples: Agreement (First United Corp/Md/)

Payment of Severance. Subject to subsections (h) and (i) below and Section 4, if the Eligible Employee incurs a Severance during the Change in Control Protection Period, the Company shall pay to him or her a lump sum cash payment, no later than 10 days after the Severance Date (or the date of the Change in Control, if later)Date, equal to two and ninety-nine one-hundredths (2.992) times the Eligible Employee’s Final Pay.

Appears in 1 contract

Samples: Agreement Under The (First United Corp/Md/)

Payment of Severance. Subject to subsections (h) and (i) below and Section 4, if the Eligible Employee incurs a Severance during the a Change in Control Protection Period, the Company shall pay to him or her a lump sum cash payment, no later than 10 days payment on the 60th day after the Severance Date (or the date of the Change in Control, if later)Date, equal to two and ninety-nine one-hundredths (2.992) times the Eligible Employee’s Final Pay.

Appears in 1 contract

Samples: Agreement (First United Corp/Md/)

Payment of Severance. Subject to subsections (h3(h) and (i3(i) below and Section 4, if the Eligible Employee incurs a Severance during the a Change in Control Protection Period, the Company shall pay to him a lump sum cash payment, no later than 10 days payment on the 60th day after the Severance Date (or the date of the Change in Control, if later)Date, equal to two and ninety-nine one-hundredths (2.99) times the Eligible Employee’s Final Pay.

Appears in 1 contract

Samples: First United Corp/Md/

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