Common use of Severance Payment Clause in Contracts

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200% of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.

Appears in 10 contracts

Samples: Change of Control Severance Agreement (Polycom Inc), Change of Control Severance Agreement (Polycom Inc), Change of Control Severance Agreement (Polycom Inc)

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Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200100% of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200100% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.

Appears in 7 contracts

Samples: Change of Control Severance Agreement (Polycom Inc), Change of Control Severance Agreement (Polycom Inc), Change of Control Severance Agreement (Polycom Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200% seventy-five percent of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200% seventy-five percent of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.

Appears in 5 contracts

Samples: Change of Control Agreement (Omniture, Inc.), Change of Control Agreement (Omniture, Inc.), Change of Control Agreement (Omniture, Inc.)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200150% of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200150% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.

Appears in 3 contracts

Samples: Change of Control Severance Agreement (Business Objects S.A.), Change of Control Severance Agreement (Business Objects S.A.), Change of Control Severance Agreement (Business Objects S.A.)

Severance Payment. The Employee shall be entitled to ----------------- receive a lump-sum severance payment (less applicable withholding taxes) equal to 200100% of the Employee’s 's annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s 's termination, whichever is greater) plus 200% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater).

Appears in 3 contracts

Samples: Control Severance Agreement (Centillium Communications Inc), Control Severance Agreement (Centillium Communications Inc), Control Severance Agreement (Centillium Communications Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200100% of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200100% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater).

Appears in 2 contracts

Samples: Change of Control Agreement (Juniper Networks Inc), Change of Control Agreement (Juniper Networks Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200% one hundred percent (100%) of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, Control or (B) the Employee’s termination, whichever is greater) plus 200% of the an amount equal to Employee’s target average annual bonus for the two (2) fiscal years prior to the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.

Appears in 2 contracts

Samples: Change of Control Agreement (Omniture, Inc.), Change of Control Agreement (Omniture, Inc.)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200100% of the Employee’s 's annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s 's termination, whichever is greater) plus 200100% of the Employee’s 's target bonus for the fiscal year in which the Change of Control or the Employee’s 's termination occurs, whichever is greater).

Appears in 2 contracts

Samples: Change of Control Agreement (Juniper Networks Inc), Change of Control Agreement (Juniper Networks Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200100% of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, Control or (B) the Employee’s termination, whichever is greater) plus 200an amount equal to 100% of the Employee’s target annual bonus (for the fiscal year in which the termination or Change of Control or the Employee’s termination occurs, whichever is greater).

Appears in 2 contracts

Samples: Involuntary Termination Severance Agreement (Fusion-Io, Inc.), Involuntary Termination Severance Agreement (Fusion-Io, Inc.)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200% two hundred percent of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200% two hundred percent of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.

Appears in 2 contracts

Samples: Change of Control Agreement (Omniture, Inc.), Change of Control Agreement (Omniture, Inc.)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200% [PERCENT]% of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200% [PERCENT]% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.

Appears in 2 contracts

Samples: Change of Control Severance Agreement (Polycom Inc), Change of Control Severance Agreement (Polycom Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200% one hundred percent of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s terminationtermination of employment, whichever is greater) plus 200% one hundred percent (100%) of the Employee’s target bonus bonuses for which the Employee was or would have been eligible (for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.)

Appears in 1 contract

Samples: Change of Control Severance Agreement (Microchip Technology Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 20050% of the Employee’s annual base salary (as in effect immediately prior to (A) the Change closing date of Controlan Acquisition, or (B) the Employee’s termination, whichever is greater) plus 200% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.);

Appears in 1 contract

Samples: Acquisition Bonus and Severance Agreement (Xcyte Therapies Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200% seventy-five percent of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200% seventy-five percent of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.

Appears in 1 contract

Samples: Change of Control Agreement (Omniture, Inc.)

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Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200100% of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Centillium Communications Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200100% of the Employee’s 's annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s 's termination, whichever is greater) plus 200% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Centillium Communications Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 20050% of the Employee’s 's annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s 's termination, whichever is greater) plus 200% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater).

Appears in 1 contract

Samples: Control Severance Agreement (Centillium Communications Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200% one hundred percent of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s terminationtermination of employment, whichever is greater) plus 200% one hundred percent of the Employee’s target bonus bonuses for which Employee was or would have been eligible (for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Microchip Technology Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxeswithholdings) equal to 200% eighteen (18) months of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200% eighteen (18) months of the Employee’s annual target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Cypress Semiconductor Corp /De/)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200% of the Employee’s annual one (1) year base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater).

Appears in 1 contract

Samples: Change of Control Severance Agreement (Centillium Communications Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200% one hundred percent of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s terminationtermination of employment, whichever is greater) plus 200% one hundred percent of the Employee’s target bonus bonuses for which the Employee was or would have been eligible (for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater.)

Appears in 1 contract

Samples: Change of Control Severance Agreement (Microchip Technology Inc)

Severance Payment. The Employee shall be entitled to receive a lump-sum severance payment (less applicable withholding taxes) equal to 200150% of the Employee’s annual base salary (as in effect immediately prior to (A) the Change of Control, or (B) the Employee’s termination, whichever is greater) plus 200150% of the Employee’s target bonus for the fiscal year in which the Change of Control or the Employee’s termination occurs, whichever is greater).

Appears in 1 contract

Samples: Change of Control Agreement (Juniper Networks Inc)

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