Salary and Bonus Continuation. For a period of 12 months after your Separation, you will receive severance payments equal to 1.0 times the sum of (A) your base salary at the rate in effect at the time of your Separation and (b) your target annual bonus in effect at the time of your Separation, payable in accordance with the Company’s standard payroll procedures. The salary and bonus continuation payments will commence on the first payroll date after the effective date (without revocation) of the release, and, once they commence, will include any unpaid amounts accrued from the date of your Separation. However, if the 50-day period described in the preceding subsection spans two calendar years, then the payments will in any event begin in the second calendar year.
Salary and Bonus Continuation. Following a termination of the Executive's employment by the Company for Cause or by the Executive other than for Good Reason, the Company may elect, by written notice given to the Executive within 7 days of such notice of termination, to require the Executive to perform the covenant provided in subsection (b)(iii) of this Section 11 during the six-month period following the effectiveness of such termination. As additional consideration for the Executive's performance of such covenant during such period, but only for so long as the Executive shall continue to perform such covenant, the Company shall pay the Executive for each month during such six-month period an amount equal to one-twelfth (1/12th) of the Executive's Base Salary and Minimum Bonus. It is agreed and understood that such payment constitutes full and fair consideration to the Executive for observance of such covenant.
Salary and Bonus Continuation. Executive shall be entitled to receive continuing payments of severance pay (less applicable withholding taxes) at the rate equal to Executive's Base Salary rate, as then in effect, for a period of twenty-four (24) months from the date of such termination in accordance with the Company's normal payroll policies. In addition, Executive shall be entitled to receive one hundred percent (100%) of Executive's Core Bonus (less applicable withholding taxes) as in effect for the fiscal year in which Executive's termination occurs, payable in equal installments over a period of twelve (12) months from the date of such termination in accordance with the Company's normal payroll practices. Executive shall not be entitled to any Stretch Bonus as severance under this Section 8(b). If the Company reasonably determines that Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), will result in the imposition of additional tax to an earlier payment of the severance payments, the first six (6) months of the severance payments will accrue during the six (6)-month period following the Executive's termination and will become payable in a lump sum payment on the date that is six (6) months and one (1) day following the date of the Executive's termination of employment. The remaining severance payments will be paid in accordance with the Company's normal payroll practices until all the severance payments have been made. Notwithstanding the terms of this Agreement, the continuation of Executive's Base Salary, the payment of the Core Bonus and the provision of other benefits as provided in this Section 8(b) shall be in lieu of any and all other benefits which Executive may be entitled to receive on the date of Executive's termination of employment pursuant to any Company severance and benefit plans and practices or pursuant to other agreements with the Company, other than the Deferred Compensation Plans, the benefits of which will be provided to Executive in accordance with the terms of such plans.
Salary and Bonus Continuation. The Company will provide you with ----------------------------- continuation of your base salary and certain bonus amounts paid over time, totaling $170,000.00, less all applicable state and federal taxes (the "Severance Pay"). The Severance Pay will be paid in equal installments over a period of six months, in accordance with the Company's normal payroll procedures, but will in no event commence earlier than the eighth (8th) day after execution of this letter agreement.
Salary and Bonus Continuation. Executive shall be entitled to receive continuing payments of severance pay (less applicable withholding taxes) at the rate equal to Executive's Base Salary rate, as then in effect, for a period of 24 months from the date of such termination in accordance with the Company's normal payroll policies. In addition, Executive shall be entitled to receive 100% of Executive's Core Bonus (less applicable withholding taxes) as in effect for the fiscal year in which Executive's termination occurs; provided, however, payments of the Core Bonus will be paid over a period of 12 months from the date of such termination in accordance with the Company's normal payroll practices. Executive shall not be entitled to any Stretch Bonus as severance under this Section 8(b). Notwithstanding the term of this Agreement, such continuation of Executive's Base Salary, the payment of the Core Bonus and the provision of other benefits as provided in this Section 8(b) shall be in lieu of any and all other benefits which Executive may be entitled to receive on the date of Executive's termination of employment pursuant to any Company severance and benefit plans and practices or pursuant to other agreements with the Company, other than the Deferred Compensation Plans, the benefits of which will be provided to Executive in accordance with the terms of such plans.
Salary and Bonus Continuation. Executive shall be entitled to receive continuing payments of salary (less applicable withholding taxes) at the rate equal to Executive’s Base Salary rate, as then in effect, for a period of twelve (12) months from the date of such termination in accordance with the Company’s normal payroll policies. In addition, Executive shall be entitled to receive one hundred percent (100%) of Executive’s maximum potential annual bonus (less applicable withholding taxes) as in effect for the fiscal year in which Executive’s termination occurs, payable in equal monthly installments over a period of twelve (12) months from the date of such termination in accordance with the Company’s normal payroll practices.
Salary and Bonus Continuation. Executive shall be entitled to receive continuing payments of salary (less applicable withholding taxes) at the rate equal to Executive’s Base Salary rate, as then in effect, for a period of twelve (12) months from the date of such termination in accordance with the Company’s normal payroll policies. In addition, Executive shall be entitled to receive one hundred percent (100%) of Executive’s maximum potential annual bonus (less applicable withholding taxes) as in effect for the fiscal year in which Executive’s termination occurs, payable in equal monthly installments over a period of twelve (12) months from the date of such termination in accordance with the Company’s normal payroll practices. If the Company reasonably determines that Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), will result in the imposition of additional tax to an earlier payment of the severance payments, the first six (6) months of the severance payments will accrue during the six (6)-month period following the Executive’s termination and will become payable in a lump sum payment on the date that is six (6) months and one (1) day following the date of the Executive’s termination of employment. The remaining severance payments will be paid in accordance with the Company’s normal payroll practices until all the severance payments have been made.
Salary and Bonus Continuation. Following a termination of the Executive's employment by the Venture for Cause or by the Executive other than either for Good Reason or pursuant to an Early Termination, the Company may elect, by written notice given to the Executive within 7 days of such notice of termination, to require the Executive to perform the covenants provided in subsection (b) of this Section 5 during the six-month period following the effectiveness of such termination. As additional consideration for the Executive's performance of such covenants during such period, but only for so long as the Executive shall continue to perform such covenants, the Company shall pay or cause to be paid the Executive for each month during such six-month period an amount equal to one-twelfth (1/12th) of the Executive's base salary with the Venture immediately prior to such termination. It is agreed and understood that such payment, together with the other benefits under this Agreement, constitutes full and fair consideration to the Executive for observance of such covenants.
