Common use of Xxxxxxxxx Payment Clause in Contracts

Xxxxxxxxx Payment. The Company shall provide a lump sum cash severance payment determined as the sum of (i) two times the Executive’s then current base salary, plus (ii) one times the Executive’s target bonus for the year of the Qualifying Termination or, if greater, the calendar year of the consummation of the Change in Control (in no event less than the target bonus amount in effect as of the Effective Date), plus (iii) a pro rata portion of one times the Executive’s target annual bonus in effect on the date of the Qualifying Termination under any then current incentive bonus plan, in an amount determined by taking into account the number of months of the Executive’s service completed with the Company as of the date of the Qualifying Termination (collectively the “Severance Payment”).

Xxxxxxxxx Payment. The Company shall provide a lump sum cash severance payment determined as the sum of (i) two times the Executive’s then current base salary, plus (ii) one and one-half times the Executive’s target bonus for the year of the Qualifying Termination or, if greater, the calendar year of the consummation of the Change in Control (in no event less than the target bonus amount in effect as of the Effective Date), plus (iii) a pro rata portion of one times the Executive’s target annual bonus in effect on the date of the Qualifying Termination under any then current incentive bonus plan, in an amount determined by taking into account the number of months of the Executive’s service completed with the Company as of the date of the Qualifying Termination (collectively the “Severance Payment”).

Xxxxxxxxx Payment. The Company shall provide a lump sum cash severance payment determined as the sum of (i) two one times the Executive’s then current base salary, plus (ii) one times half the Executive’s target bonus for the year of the Qualifying Termination or, if greater, the calendar year of the consummation of the Change in Control (in no event less than the target bonus amount in effect as of the Effective Date), plus (iii) a pro rata portion of one times the Executive’s target annual bonus in effect on the date of the Qualifying Termination under any then current incentive bonus plan, in an amount determined by taking into account the number of months of the Executive’s service completed with the Company as of the date of the Qualifying Termination (collectively the “Severance Payment”).