Separation Bonus. The Company shall pay the Executive $1,967,793.00 (representing two (2) times the average of the Incentive Bonus (as defined in Section 2.2 of the Employment Agreement) the Executive received from the Company for all fiscal years completed during the term of the Employment Agreement), paid in installments on the Company’s normal payroll dates for a period of 12 consecutive months in accordance with Exhibit A, with a schedule that complies with, or is exempt from, IRS Code § 409A, and with each payment deemed to be a separate payment for purposes of IRS Code §409A.
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Sources: General Release and Waiver (Impax Laboratories Inc)
Separation Bonus. The Company shall pay the Executive $1,967,793.00 one and a half (representing two (21.5) times the average of the Incentive Target Bonus (as defined in Section 2.2 of the Employment Agreement) the Executive received from the Company for all fiscal years completed during the term of the Employment Agreement), paid in installments on the Company’s normal payroll dates for a period of 12 consecutive months in accordance with Exhibit Amonths, with a schedule that complies with, or is exempt from, IRS Code § Section 409A, and with each payment deemed to be a separate payment for purposes of IRS Code §Section 409A.
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