Common use of Severance Payment Clause in Contracts

Severance Payment. Executive will receive a lump-sum payment equal to the sum of (A) nine (9) months of Executive’s annual base salary as then in-effect immediately prior to Executive’s termination date or, if greater, at the level in-effect immediately prior to the Change in Control, plus (B) the greater of (x) 75% of Executive’s most recent annual bonus actually paid, or (y) 75% of Executive’s on-target annual bonus for the year of termination.

Appears in 9 contracts

Samples: Separation and Change in Control Severance Agreement (Aerohive Networks, Inc), Separation and Change in Control Severance Agreement (Aerohive Networks, Inc), Separation and Change in Control Severance Agreement (Aerohive Networks, Inc)

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Severance Payment. Executive will receive be paid a lump-sum severance payment equal to the sum of six (A) nine (96) months of Executive’s annual base salary salary, as then in-effect immediately prior to Executive’s termination date orin effect, if greater, at the level in-effect immediately prior to the Change in Control, plus (B) the greater of (x) 75% and a prorated portion of Executive’s most recent annual bonus actually paid, or (y) 75% of Executive’s on-target annual bonus for the year of terminationtermination calculated based on the number of months in the fiscal year of termination during which Executive was employed by the Company.

Appears in 7 contracts

Samples: Severance Agreement (Artisan Components Inc), Severance Agreement (Artisan Components Inc), Severance Agreement (Artisan Components Inc)

Severance Payment. Executive will receive a lump-sum payment equal to the sum of (A) nine one hundred percent (9100%) months of Executive’s annual base salary as then in-in effect immediately prior to Executive’s termination date or, if greater, at the level in-in effect immediately prior to the Change in of Control, plus and (B) the greater of one hundred percent (x100%) 75% of Executive’s most recent annual target bonus actually paid, or (y) 75% for the fiscal year of Executive’s on-termination or, if greater, Executive’s annual target annual bonus for in effect immediately prior to the year Change of terminationControl.

Appears in 4 contracts

Samples: Change of Control and Severance Agreement (Cutera Inc), Change of Control and Severance Agreement (Cutera Inc), Change of Control and Severance Agreement (Cutera Inc)

Severance Payment. Executive will receive be paid a lump-sum severance payment equal to the sum of twelve (A) nine (912) months of Executive’s annual base salary salary, as then in-effect immediately prior to Executive’s termination date orin effect, if greater, at the level in-effect immediately prior to the Change in Control, plus (B) the greater of (x) 75% and a prorated portion of Executive’s most recent annual bonus actually paid, or (y) 75% of Executive’s on-target annual bonus for the year of terminationtermination calculated based on the number of months in the fiscal year of termination during which Executive was employed by the Company.

Appears in 4 contracts

Samples: Severance Agreement (Artisan Components Inc), Severance Agreement (Artisan Components Inc), Severance Agreement (Artisan Components Inc)

Severance Payment. Executive will receive a lump-sum payment equal to the sum of (A) nine twelve (912) months of Executive’s annual base salary as then in-effect immediately prior to Executive’s termination date or, if greater, at the level in-effect immediately prior to the Change in Control, plus (B) the greater of (x) 75% of Executive’s most recent annual bonus actually paid, or (y) 75100% of Executive’s on-target annual bonus for the year of termination.

Appears in 4 contracts

Samples: Separation and Change in Control Severance Agreement (Aerohive Networks, Inc), Separation and Change in Control Severance Agreement (Aerohive Networks, Inc), Separation and Change in Control Severance Agreement (Flynn David K.)

Severance Payment. Executive will receive a lump-lump sum payment of severance equal to 200% of the sum of (Ax) nine (9) months of Executive’s annual base salary as then in-in effect immediately prior to Executive’s termination date or, or (if greater, ) at the level in-in effect immediately prior to the Change in Control, plus of Control and (By) Executive’s annual target bonus for the greater of (x) 75% fiscal year of Executive’s most recent annual bonus actually paid, termination or (yif greater) 75% of Executive’s on-annual target annual bonus for in effect immediately prior to the year Change of terminationControl.

Appears in 2 contracts

Samples: Change of Control and Severance Agreement (Thermage Inc), Change of Control and Severance Agreement (Solta Medical Inc)

Severance Payment. Executive will receive a lump-sum payment equal to the sum of (A) nine two hundred percent (9200%) months of Executive’s annual base salary as then in-in effect immediately prior to Executive’s termination date or, if greater, at the level in-in effect immediately prior to the Change in of Control, plus and (B) the greater of one hundred percent (x100%) 75% of Executive’s most recent annual target bonus actually paid, or (y) 75% for the fiscal year of Executive’s on-termination or, if greater, Executive’s annual target annual bonus for in effect immediately prior to the year Change of terminationControl.

Appears in 2 contracts

Samples: Change of Control and Severance Agreement (Cutera Inc), Change of Control and Severance Agreement (Cutera Inc)

Severance Payment. Executive will receive a lump-lump sum severance payment equal to the sum of twelve (A) nine (912) months of Executive’s annual base salary as then in-in effect immediately prior to Executive’s termination date or, or (if greater, ) at the level in-in effect immediately prior to the Change in of Control, plus (B) the greater of (x) 75% of Executive’s most recent annual bonus actually paid, or (y) 75% of Executive’s on-target annual bonus for the year of termination.

Appears in 2 contracts

Samples: Severance and Change of Control Agreement (Netsuite Inc), Severance and Change of Control Agreement (Netsuite Inc)

Severance Payment. Executive will receive a lump-lump sum payment of severance equal to 100% of the sum of (Ax) nine (9) months of Executive’s annual base salary as then in-in effect immediately prior to Executive’s termination date or, or (if greater, ) at the level in-in effect immediately prior to the Change in Control, plus of Control and (By) Executive’s annual target bonus for the greater of (x) 75% fiscal year of Executive’s most recent annual bonus actually paid, termination or (yif greater) 75% of Executive’s on-annual target annual bonus for in effect immediately prior to the year Change of terminationControl.

Appears in 2 contracts

Samples: Change of Control and Severance Agreement (Thermage Inc), Change of Control and Severance Agreement (Solta Medical Inc)

Severance Payment. Executive will receive a lump-lump sum severance payment (less applicable withholding taxes) equal to the sum of (A) nine (9) months 250% of Executive’s annual base salary as then in-in effect immediately prior to Executive’s termination date or, or (if greater, ) at the level in-in effect immediately prior to the Change in of Control, plus and (B) the greater of (x) 75100% of Executive’s most recent annual bonus actually paid, or (y) 75% of Executive’s on-target annual bonus for as in effect immediately prior to Executive’s termination date or (if greater) at the year level in effect immediately prior to the Change of terminationControl.

Appears in 2 contracts

Samples: Change of Control Severance Agreement (NetApp, Inc.), Change of Control Severance Agreement (NetApp, Inc.)

Severance Payment. Executive will receive a lump-lump sum payment of severance equal to 50% of the sum of (Ax) nine (9) months of Executive’s annual base salary as then in-in effect immediately prior to Executive’s termination date or, or (if greater, ) at the level in-in effect immediately prior to the Change in Control, plus of Control and (By) Executive’s annual target bonus for the greater of (x) 75% fiscal year of Executive’s most recent annual bonus actually paid, termination or (yif greater) 75% of Executive’s on-annual target annual bonus for in effect immediately prior to the year Change of terminationControl.

Appears in 2 contracts

Samples: Change of Control and Severance Agreement (Thermage Inc), Control and Severance Agreement (Solta Medical Inc)

Severance Payment. Executive will receive a lump-lump sum cash payment (less applicable withholding taxes) equal to the sum of (Ai) nine an amount equal to twenty-four (924) months (the “CIC Severance Period”) of the Executive’s annual base salary rate (as then in-in effect immediately prior to Executive’s termination date or, if greater, at the level in-effect immediately prior to (1) the Change in Control, plus or (B2) Executive’s termination, whichever is greater) and (ii) an amount equal to two times the greater of (x) 75% Executive’s target annual incentive established for the year prior to the year of Executive’s most recent annual bonus actually paid, or (y) 75% termination of Executive’s on-target annual bonus for the year of terminationemployment.

Appears in 1 contract

Samples: Executive Employment Agreement (Cohu Inc)

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Severance Payment. Executive will receive a lump-sum payment equal to the sum of (A) nine two hundred percent (9200%) months of Executive’s annual base salary as then in-in effect immediately prior to Executive’s termination date or, if greater, at the level in-in effect immediately prior to the Change in of Control, plus and (B) the greater of two hundred percent (x200%) 75% of Executive’s most recent annual target bonus actually paid, or (y) 75% for the fiscal year of Executive’s on-termination or, if greater, Executive’s annual target annual bonus for in effect immediately prior to the year Change of terminationControl.

Appears in 1 contract

Samples: Change of Control and Severance Agreement (Cutera Inc)

Severance Payment. Executive will receive a lump-sum payment equal to the sum of (A) nine one hundred and fifty percent (9150%) months of Executive’s annual base salary as then in-in effect immediately prior to Executive’s termination date or, if greater, at the level in-in effect immediately prior to the Change in of Control, plus and (B) the greater of one hundred and fifty percent (x150%) 75% of Executive’s most recent annual target bonus actually paid, or (y) 75% for the fiscal year of Executive’s on-termination or, if greater, Executive’s annual target annual bonus for in effect immediately prior to the year Change of terminationControl.

Appears in 1 contract

Samples: Change of Control and Severance Agreement (Cutera Inc)

Severance Payment. Executive will receive a lump-sum payment equal to the sum of [CEO: eighteen (A) nine (918) months / Other Executives: twelve (12) months] of Executive’s annual base salary as then in-in effect immediately prior to Executive’s termination date or, if greater, at the level in-in effect immediately prior to the Change in Control, plus Control (B) the greater of (x) 75% of Executive’s most recent annual bonus actually paid, or (y) 75% of Executive’s on-target annual bonus for the year of terminationas applicable).

Appears in 1 contract

Samples: Change in Control and Severance Agreement (A10 Networks, Inc.)

Severance Payment. Executive will receive a lump-sum payment equal to the sum of (A) nine (9) 12 months of Executive’s annual base salary as then in-effect immediately prior to Executive’s termination date or, if greater, at the level in-effect immediately prior to the Change in Control, plus (B) the greater of (x) 75100% of Executive’s most recent annual bonus actually paid, or (y) 75100% of Executive’s on-target annual bonus for the year of termination.

Appears in 1 contract

Samples: Separation and Change in Control Severance Agreement (Aerohive Networks, Inc)

Severance Payment. Executive will receive a lump-lump sum severance payment equal to the sum of (A) nine (9) 18 months of Executive’s annual base salary Base Salary as then in-effect immediately prior to Executive’s termination date or, if greater, at the level in-in effect immediately prior to the Change in ControlTermination Date (without any reduction therein that constitutes Good Reason), plus (B) Executive’s annual Cash Bonus as in effect immediately prior to the greater of Termination Date (xwithout any reduction therein that constitutes Good Reason) 75paid at 150% of Executive’s most recent annual bonus actually paidits target amount, or (y) 75% of Executive’s on-target annual bonus for the year of terminationless all required tax withholdings and other applicable deductions.

Appears in 1 contract

Samples: Employment Agreement (Momentus Inc.)

Severance Payment. Executive will receive a lump-lump sum cash payment equal to the sum of twelve (A) nine (912) months of the Executive’s annual base salary (as then in-in effect immediately prior to Executive’s termination date or, if greater, at the level in-effect immediately prior to (A) the Change in Control, plus of Control or (B) the greater of (x) 75% of Executive’s most recent annual bonus actually paidtermination, or (y) 75% of Executive’s on-target annual bonus for the year of terminationwhichever is greater).

Appears in 1 contract

Samples: Control Severance Agreement (Occam Networks Inc/De)

Severance Payment. Executive will receive receive: (A) a lump-sum severance payment in an amount equal to the sum of twelve (A) nine (912) months of Executive’s annual base salary his Base Salary (as then in-in effect immediately prior to Executive’s termination date ortermination), if greater, at the level in-effect immediately prior to the Change in Control, plus and (B) the greater of a lump-sum amount equal to Executive’s Target Bonus for one (x1) year equal to seventy-five percent (75% %) of Executive’s most recent annual bonus actually paidBase Salary. Executive will receive the foregoing amounts, or less applicable withholdings, not later than five (y5) 75% business days after the effective date of Executive’s on-target annual bonus for the year of terminationRelease.

Appears in 1 contract

Samples: Employment Agreement (SourceForge, Inc)

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