Common use of Special Compensation Clause in Contracts

Special Compensation. The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

Appears in 6 contracts

Samples: Compete Agreement (Wisconsin Energy Corp), Severance and Non Compete Agreement (Wisconsin Electric Power Co), Severance and Non Compete Agreement (Wisconsin Energy Corp)

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Special Compensation. The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e5 (f) below apply. The amount of the aggregate lump sum provided by this Section 3(c5 (c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

Appears in 3 contracts

Samples: Non Compete Agreement (Wisconsin Energy Corp), Non Compete Agreement (Wisconsin Energy Corp), Employment and Non Compete Agreement (Wisconsin Energy Corp)

Special Compensation. The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e4(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c4(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

Appears in 2 contracts

Samples: Non Compete Agreement (Wisconsin Electric Power Co), Non Compete Agreement (Wisconsin Energy Corp)

Special Compensation. The Company shall pay to the Executive a lump sum equal to three two times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e5 (f) below apply. The amount of the aggregate lump sum provided by this Section 3(c5 (c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

Appears in 2 contracts

Samples: Senior Officer Employment and Non Compete Agreement (Wisconsin Energy Corp), Employment and Non Compete Agreement (Wisconsin Energy Corp)

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Special Compensation. The Company shall pay to the Executive a lump sum equal to three two times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Target Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days the next available pay period after the Executive's termination of employment, unless the provisions of Section 3(e5(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c5(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

Appears in 1 contract

Samples: Non Compete Agreement (Wisconsin Energy Corp)

Special Compensation. The Company shall pay to the Executive a lump sum equal to three two times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Target Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days the next available pay period after the Executive's termination of employment, unless the provisions of Section 3(e5 (e) below apply. The amount of the aggregate lump sum provided by this Section 3(c5 (c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

Appears in 1 contract

Samples: Non Compete Agreement (Wisconsin Energy Corp)

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