SPECIAL TERMINATION PAYMENT. The Advisor shall receive a Special Termination Payment (as defined below) if the Company terminates or does not renew this Agreement without cause. The Special Termination Payment shall be an amount equal to the projected Asset Management Fee for the one-year period following the date of the termination of this Agreement.
SPECIAL TERMINATION PAYMENT. For purposes of this Agreement, the "Special Termination Payment" shall mean an aggregate amount of money equal to the product of three (3) multiplied by the sum of the Executive's annual base salary as in effect at the time of the termination giving rise to the Special Termination Payment, or if greater the annual base salary in effect for the calendar year prior to the date of termination, plus the greater of (i) the annual bonus the Executive received during the preceding calendar year or (ii) the largest annual bonus the Executive would have received if his employment had not been terminated in the calendar year in which his employment was terminated assuming that all targets and incentives are met (regardless of actual results and criteria). In the event that the Company does not pay the Special Termination Payment by the due date specified in this Agreement, then the unpaid amount shall bear interest at the rate of 18 percent per annum, compounded monthly, until it is paid.
SPECIAL TERMINATION PAYMENT. If Employee's employment shall be terminated by ASC (other than for Cause, Disability, or death) within 12 months after a Change in Control or if Employee terminates his employment for Good Reason, ASC shall pay Employee an aggregate amount equal to one full year's Base Salary as in effect at such time (the "Special Termination Payment"). ASC shall pay such amount in 12 equal monthly installments beginning on the first day of the calendar month immediately after the date of such termination and on the first day of each of the next eleven calendar months thereafter.
SPECIAL TERMINATION PAYMENT. As an inducement to the Buyer to negotiate and enter into this Agreement and to undertake the further cost and expense of conducting its due diligence investigation and preparing to satisfy its obligations at the Closing, the Corporation hereby agrees to pay to the Buyer the sum of $150,000 in the event that this Agreement is terminated by the Buyer pursuant to Section 10.1(e) above. Such payment shall be made promptly upon demand by the Buyer therefor in immediately available funds. The Corporation is a party to this Agreement solely for the purpose of this Section 10.6.
SPECIAL TERMINATION PAYMENT. The "Special Termination Payment" shall mean an aggregate amount equal to two full year's Base Salary as in effect at the time of the termination giving rise to the Special Termination Payment. ASC shall pay such amount in 12 equal monthly installments beginning on the first day of the calendar month immediately after the date of such termination and on the first day of each of the next eleven calendar months thereafter.
SPECIAL TERMINATION PAYMENT. For purposes of this Agreement, the "Special Termination Payment" shall mean an aggregate amount of money equal to the product of the number of years (including fractional years) remaining in the Employment Term (assuming that this Agreement had not been terminated), multiplied by the sum of the Executive's annual Base Salary as in effect at the time of the termination giving rise to the Special Termination Payment, or if greater, the annual Base Salary in effect for the calendar year prior to the date of termination, plus the greater of (i) the annual Bonus the Executive received during the preceding calendar year or (ii) the largest annual Bonus the Executive would have received if his employment had not been terminated in the calendar year in which his employment was terminated assuming that all targets and incentives are met (regardless of actual results and criteria). In the event that the Company does not pay the Special Termination Payment or the Gross-Up Payment (as defined below) by the due date specified in this Agreement, then the unpaid amount shall bear interest at the rate of 18 percent per annum, compounded monthly, until it is paid. In the event that the Special Termination Payment is made on account of the Executive's employment being terminated (i) by the Executive for Good Reason, pursuant to Section 7 of this Agreement, or (ii) by the Company for any reason other than death, pursuant to Section 5 of this Agreement, then the Company shall continue to provide the Executive with the Executive Benefits (as described in Section 3.b) at no cost to the Executive in no less than the same amounts and on the same terms and conditions that would have applied had he remained employed by of the Company for the remainder of the Employment Term and such continuation should be considered to be an additional Special Termination Payment.
SPECIAL TERMINATION PAYMENT. In further consideration of the covenants undertaken and the release given herein by Li, Bandag agrees to pay Li a special termination payment in the gross amount of Five Hundred and Thirteen Thousand, Two Hundred and Ninety-Six Dollars and No Cents ($513,296.00), less standard income and payroll tax withholdings and deductions. This special termination payment has been calculated pursuant to the formula set forth in the Offer Letter, which is the difference between the Kodak Pension Benefit Li would have received from Kodak at age 55 and the Kodak/Bandag Pension Benefit value at the date of termination. The special termination payment as described herein will be paid out to Li in two (2) lump sum payments; One Hundred Sixty-Nine Thousand, Three Hundred Eight-Eight Dollars and No Cents ($169,388.00) will be paid within ten (10) days of the expiration of the revocation period described below in paragraph 12; and Three Hundred Three Thousand, Nine Hundred Eight Dollars and No Cents ($343,908.00) will be paid on January 1, 1999. In addition, Bandag agrees to pay Li a lump sum of Thirty-Two Thousand, Four Hundred and Fifty-One and No Cents ($32,451.00), less standard income and payroll tax withholdings and deductions, such amount being equal to the pension benefit to which Li would have been entitled had he vested in the Bandag pension plan, with such payment to be made within ten (10) days of the expiration of the revocation period described below in paragraph 12.
SPECIAL TERMINATION PAYMENT. If this Agreement is terminated prior to Closing for any reason other than the default of Seller, then within ten (10) business days after such termination Purchaser shall pay to Simon the amount of Three Hundred Nine Thousand Dollars ($309,000.00) (the "TERMINATION FEE"), (i.e., the increased proceeds that would have been payable to Simon in connection with the sale of the G-2 Block to Xxxxx if the purchase price for the G-2 Block were increased by $1,000,000, as originally requested by Simon). No Termination Fee shall be due or payable to Simon if this Agreement is terminated as a consequence of Seller's default hereunder. Purchaser's obligation to pay the Termination Fee to Simon under the conditions stated above shall survive the termination of this Agreement.
SPECIAL TERMINATION PAYMENT. A lump sum payment, payable on the 30th day following termination, in the amount of $3 million.
SPECIAL TERMINATION PAYMENT. If the Employee’s employment is terminated by the Company without Cause (as defined under the Parent’s 2017 Stock Incentive Plan, as amended (the “Plan”) or the Employee resigns for Good Reason (as defined below), subject to the provisions of the Plan including Section 6.6.4 thereof, in each case, on or without 12 months following a Merger/Sale (as defined in the Plan), then the Employee shall be entitled to receive a termination payment in the form of a cash amount equal to the sum of Employee’s annual Salary and Employee’s target annual bonus (if any) for the year of termination (the “Special Termination Payment”). The Employee’s entitlement to the Special Termination Payment shall be dependent upon the Employee properly executing (and not revoking, as applicable) a Waiver and Release Agreement in a form set forth by the Company.
