Common use of Severance Payment Clause in Contracts

Severance Payment. Executive will receive severance pay (less applicable withholding taxes) in the form of a lump sum payment equivalent to six (6) months of Executive’s base salary (as in effect immediately prior to (A) the Change of Control, or (B) Executive’s termination, whichever is greater).

Appears in 4 contracts

Sources: Change of Control Severance Agreement (Bluearc Corp), Change of Control Severance Agreement (Bluearc Corp), Change of Control Severance Agreement (Bluearc Corp)

Severance Payment. Executive will receive receive: (A) continuing payments of severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six (6) months from the date of such termination equal to the pro-rata portion of Executive’s base salary Base Salary (as in effect immediately prior to (AExecutive’s termination) the Change of Control, or and (B) Executive’s termination, whichever is greater)quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earned.

Appears in 4 contracts

Sources: Employment Agreement (Geeknet, Inc), Employment Agreement (Geeknet, Inc), Employment Agreement (Geeknet, Inc)

Severance Payment. Executive will receive severance pay in an amount equal to 18 (less applicable withholding taxes) in the form of a lump sum payment equivalent to six (6eighteen) months of Executive’s base salary (as in effect immediately prior to (A) the Change date of Control, or (B) Executive’s terminationtermination of employment, whichever is greater)less all required tax withholdings and other applicable deductions, which will be paid as soon as practicable following Executive’s termination of employment.

Appears in 3 contracts

Sources: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will receive receive: (A) continuing payments of severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six (6) months from the date of such termination equal to the pro-rata portion of Executive’s base salary Base Salary (as in effect immediately prior to (AExecutive’s termination) the Change of Control, or and (B) Executive’s termination, whichever is greater)quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of the performance goals under such plan and the quarterly bonus that would have otherwise been earned.

Appears in 3 contracts

Sources: Employment Agreement (Geeknet, Inc), Employment Agreement (SourceForge, Inc), Employment Agreement (SourceForge, Inc)

Severance Payment. Executive will receive continuing payments of severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six twelve (612) months from the date of such termination (the “Severance Period”) at a rate equal to Executive’s base salary rate (as in effect immediately prior to (A) the Change of in Control, or (B) Executive’s termination, whichever is greater).

Appears in 3 contracts

Sources: Change in Control Agreement (Senorx Inc), Change in Control Agreement (Senorx Inc), Change in Control Agreement (Senorx Inc)

Severance Payment. Executive will receive receive: continuing payments of severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six (6) months from the date of such termination equal to the pro-rata portion of Executive’s base salary Base Salary (as in effect immediately prior to (A) the Change of Control, or (B) Executive’s termination, whichever is greater).

Appears in 3 contracts

Sources: Employment Agreement (Geeknet, Inc), Employment Agreement (Geeknet, Inc), Employment Agreement (Geeknet, Inc)

Severance Payment. Executive will be entitled to (i) receive continuing payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary rate, as then in effect, for a period of nine (9) months from the form date of such termination, to be paid periodically in accordance with the Company’s normal payroll policies; and (B) a lump lump-sum payment equivalent equal to six (6) months 100% of Executive’s base salary (target annual bonus as in effect immediately prior to (A) of the Change date of Control, or (B) Executive’s such termination, whichever is greater).

Appears in 3 contracts

Sources: Executive Employment Agreement (NeurogesX Inc), Executive Employment Agreement (NeurogesX Inc), Executive Employment Agreement (NeurogesX Inc)

Severance Payment. Executive will receive severance pay in an amount equal to twelve (less applicable withholding taxes) in the form of a lump sum payment equivalent to six (612) months of Executive’s base salary (as in effect immediately prior to (A) the Change date of Control, or (B) Executive’s terminationtermination of employment, whichever is greater)less all required tax withholdings and other applicable deductions, which will be paid on the following schedule in accordance with the Company’s regular payroll procedures: (x) 1/3 as soon as practicable after the Executive’s termination of employment, (y) 1/3 on the six (6) month anniversary of Executive’s termination of employment, and (z) 1/3 on the one (1) year anniversary of Executive’s termination of employment.

Appears in 2 contracts

Sources: Severance and Change in Control Agreement (Shutterstock, Inc.), Severance and Change in Control Agreement (Shutterstock, Inc.)

Severance Payment. Executive will receive continuing payments of severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six twelve (612) months from the date of such termination (the “Severance Period”) at a rate equal to Executive’s base salary rate (as in effect immediately prior to (A) the Change of Control, or (B) Executive’s termination, whichever is greater).

Appears in 2 contracts

Sources: Change of Control Severance Agreement (Outdoor Channel Holdings Inc), Change of Control Severance Agreement (Outdoor Channel Holdings Inc)

Severance Payment. Executive will receive severance pay in an amount equal to 18 (less applicable withholding taxes) in the form of a lump sum payment equivalent to six (6eighteen) months of Executive’s base salary (as in effect immediately prior to (A) the Change date of Control, or (B) Executive’s terminationtermination of employment, whichever is greater)less all required tax withholdings and other applicable deductions, which will be paid as soon as practicable following Executive’s termination of employment but in no event later than the next pay period after Executive’s termination of employment.

Appears in 2 contracts

Sources: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will be entitled to (i) receive continuing payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary rate, as then in the form effect, for a period of a lump sum payment equivalent to six (6) months from the date of such termination, to be paid periodically in accordance with the Company’s normal payroll policies; and (ii) a lump-sum payment equal to 50% of Executive’s base salary (target annual bonus as in effect immediately prior to (A) of the Change date of Control, or (B) Executive’s such termination, whichever is greater).

Appears in 2 contracts

Sources: Executive Employment Agreement (NeurogesX Inc), Executive Employment Agreement (NeurogesX Inc)

Severance Payment. Executive will receive receive: (A) continuing payments of severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six three (63) months from the date of such termination equal to the pro-rata portion of Executive’s base salary Base Salary (as in effect immediately prior to (AExecutive’s termination) the Change of Control, or and (B) Executive’s termination, whichever is greater)quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of the performance goals under such plan and the quarterly bonus that would have otherwise been earned.

Appears in 2 contracts

Sources: Employment Agreement (Geeknet, Inc), Employment Agreement (Geeknet, Inc)

Severance Payment. Executive will receive receive: (A) continuing payments of severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six twelve (612) months from the date of such termination equal to the pro-rata portion of Executive’s base salary Base Salary (as in effect immediately prior to (AExecutive’s termination) the Change of Control, or and (B) Executive’s termination, whichever is greater)quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of performance goals under such plan and the quarterly bonus that would have otherwise been earned.

Appears in 2 contracts

Sources: Employment Agreement (SourceForge, Inc), Employment Agreement (SourceForge, Inc)

Severance Payment. Executive will receive severance pay in an amount equal to twelve (less applicable withholding taxes) in the form of a lump sum payment equivalent to six (612) months of Executive’s base salary (as in effect immediately prior to (A) the Change date of Control, or (B) Executive’s terminationtermination of employment, whichever is greater)less all required tax withholdings and other applicable deductions, which will be paid as soon as practicable following Executive’s termination of employment but in no event later than the next pay period after Executive’s termination of employment.

Appears in 2 contracts

Sources: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will receive severance pay in an amount equal to eighteen (less applicable withholding taxes) in the form of a lump sum payment equivalent to six (618) months of Executive’s base salary (as in effect immediately prior to (A) the Change date of Control, or (B) Executive’s terminationtermination of employment, whichever is greater)less all required tax withholdings and other applicable deductions, which will be paid as soon as practicable following Executive’s termination of employment but in no event later than the next pay period after Executive’s termination of employment.

Appears in 2 contracts

Sources: Severance and Change in Control Agreement (Resonant Inc), Severance and Change in Control Agreement (Resonant Inc)

Severance Payment. Executive will receive severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six (6) months from the date of such termination equal to the pro-rata portion of Executive’s base salary (as in effect immediately prior to (A) the Change of Control, or (B) Executive’s termination, whichever is greater).

Appears in 2 contracts

Sources: Change of Control Severance Agreement (Infinera Corp), Change of Control Severance Agreement (Infinera Corp)

Severance Payment. Executive will receive be entitled to receive; (A) continuing payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary rate, as then in effect, for a period of twelve (12) months from the form date of such termination, to be paid periodically in accordance with the Company’s normal payroll policies; and (B) a lump lump-sum payment equivalent equal to six (6) months 100% of Executive’s base salary (target annual bonus as in effect immediately prior to (A) of the Change date of Control, or (B) Executive’s such termination, whichever is greater).

Appears in 2 contracts

Sources: Executive Employment Agreement (NeurogesX Inc), Executive Employment Agreement (NeurogesX Inc)

Severance Payment. Executive will receive severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six twelve (612) months from the date of such termination equal to Executive’s base salary (as in effect immediately prior to (A) the Change of Control, or (B) Executive’s termination, whichever is greater).

Appears in 2 contracts

Sources: Change of Control Severance Agreement (Infinera Corp), Change of Control Severance Agreement (Infinera Corp)

Severance Payment. Executive will receive be entitled to receive; (A) continuing payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary rate, as then in effect, for a period of eighteen (18) months from the form date of such termination, to be paid periodically in accordance with the Company’s normal payroll policies; and (B) a lump lump-sum payment equivalent equal to six (6) months 100% of Executive’s base salary (target annual bonus as in effect immediately prior to (A) of the Change date of Control, or (B) Executive’s such termination, whichever is greater).

Appears in 2 contracts

Sources: Executive Employment Agreement (NeurogesX Inc), Executive Employment Agreement (NeurogesX Inc)

Severance Payment. Executive will be entitled to (i) receive continuing payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary rate, as then in the form effect, for a period of a lump sum payment equivalent to six (6) months from the date of such termination, to be paid periodically in accordance with the Company’s normal payroll policies; and (B) a lump-sum payment equal to 100% of Executive’s base salary (target annual bonus as in effect immediately prior to (A) of the Change date of Control, or (B) Executive’s such termination, whichever is greater).

Appears in 2 contracts

Sources: Executive Employment Agreement (NeurogesX Inc), Executive Employment Agreement (NeurogesX Inc)

Severance Payment. Executive will receive continuing payments of severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six (6( ) months from the date of such termination of employment at a rate equal to Executive’s base salary (as in effect immediately prior to Executive’s termination (A) or, if greater, at the level in effect immediately prior to the Change of in Control), or (B) Executiveless all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s termination, whichever is greater)regular payroll procedures.

Appears in 1 contract

Sources: Severance and Change in Control Agreement (BrightSource Energy Inc)

Severance Payment. Executive will receive receive: (A) continuing payments of severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to six twelve (612) months from the date of such termination equal to the pro-rata portion of Executive’s base salary Base Salary (as in effect immediately prior to (AExecutive’s termination) the Change of Control, or and (B) Executive’s termination, whichever is greater)quarterly bonus under the Company’s Named Executive Officer Bonus Policy and Plan for the entire quarter in which such termination occurred based on the achievement of the performance goals under such plan and the quarterly bonus that would have otherwise been earned.

Appears in 1 contract

Sources: Employment Agreement (SourceForge, Inc)

Severance Payment. Executive will receive semi-monthly continuing payments of severance pay at a rate equal to Executive’s Base Salary, as then in effect, for twelve (less applicable withholding taxes) in the form of a lump sum payment equivalent to six (612) months (the “Severance Period”), less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures commencing on the Release Deadline (as defined in Section 7(a)); provided that the first payment shall include any amounts that would have been paid to Executive if payment had commenced on the date of Executive’s base salary (as in effect immediately prior to (A) the Change of Control, or (B) Executive’s termination, whichever is greater)separation from service.

Appears in 1 contract

Sources: Employment Agreement (Dave Inc./De)

Severance Payment. Executive will be entitled to (A) receive continuing payments of severance pay (less applicable withholding taxes) in the form of at a lump sum payment equivalent rate equal to six (6) months of Executive’s base salary rate, as then in effect, for a period of eighteen (as 18) months from the date of such termination, to be paid periodically in effect immediately prior to (A) accordance with the Change of Control, or Company’s normal payroll policies; and (B) a lump-sum payment equal to 100% of Executive’s target annual bonus as of the date of such termination, whichever is greater).

Appears in 1 contract

Sources: Executive Employment Agreement (Cytokinetics Inc)

Severance Payment. Executive will be entitled to (i) receive continuing payments of severance pay (less applicable withholding taxes) in the form of at a lump sum payment equivalent rate equal to six (6) months of Executive’s base salary rate, as then in effect, for a period of eighteen (as 18) months from the date of such termination, to be paid periodically in effect immediately prior to (A) accordance with the Change of Control, or Company’s normal payroll policies; and (B) a lump-sum payment equal to 100% of Executive’s target annual bonus as of the date of such termination, whichever is greater).

Appears in 1 contract

Sources: Executive Employment Agreement (Cytokinetics Inc)

Severance Payment. Executive will be entitled to (A) receive continuing payments of severance pay (less applicable withholding taxes) in the form of at a lump sum payment equivalent rate equal to six (6) months of Executive’s base salary rate, as then in effect, for a period of twenty-four (as 24) months from the date of such termination, to be paid periodically in effect immediately prior to (A) accordance with the Change of Control, or Company’s normal payroll policies; and (B) a lump-sum payment equal to 100% of Executive’s target annual bonus as of the date of such termination, whichever is greater).

Appears in 1 contract

Sources: Executive Employment Agreement (Cytokinetics Inc)

Severance Payment. Executive will receive continuing payments of severance pay (less applicable withholding taxes) in the form for a period of a lump sum payment equivalent to [six (6) months months]/[twelve (12) months] (such number of months, the “Standard Severance Period”) from the date of such termination of employment at a rate equal to Executive’s base salary (as in effect immediately prior to (A) the Change date of Control, or (B) Executive’s terminationtermination of employment (disregarding any reduction in base salary that triggers the right to termination for Good Reason), whichever is greater)less all required tax withholdings and other applicable deductions, which will be paid in accordance with the Company’s regular payroll procedures.

Appears in 1 contract

Sources: Severance and Change in Control Agreement (Arcadia Biosciences, Inc.)

Severance Payment. Executive will be entitled to (A) receive continuing payments of severance pay (less applicable withholding taxes) in the form of at a lump sum payment equivalent rate equal to six (6) months of Executive’s base salary (rate, as then in effect immediately prior to (Abut ignoring any reduction in base salary rate that forms the basis for Good Reason), for a period of eighteen (18) the Change of Control, or months following Executive’s Separation from Service; and (B) a lump-sum payment on the fifty-third (53rd) day following the Separation from Service equal to 100% of Executive’s target annual bonus as of the date of such termination, whichever is greater).

Appears in 1 contract

Sources: Executive Employment Agreement (Cytokinetics Inc)