Lump Sum Payment Amount definition

Lump Sum Payment Amount means a cash amount payable in a lump sum equal to the sum of (a) the Adjusted Salary in effect immediately prior to the date of such termination, plus (b) the maximum amount payable to Executive including all cash and the value of all equity based options and grants of stock except for equity based options and grants of stock issued pursuant to Section 6.6 of the 1995 Plan (as defined below) (the value of each stock option to be determined as of the grant date thereof and the value of each grant of restricted stock to be determined as of the date described hereinbelow by applying the Black-Scholes model where applicable or another recognized form of valuation if the Black-Scholes model is not applicable, with the value ascribed by Group to each such stock option and grant of restricted stock as of the aforementioned dates to be conclusively presumed to be the value thereof) under all compensation and bonus plans and arrangements identified in Sections 3.1.2, 3.1.3 and 3.
View Source
Lump Sum Payment Amount means a cash amount payable in a lump sum equal to the sum of (a) the Adjusted Salary in effect immediately prior to the date of such termination, plus (b) the maximum amount payable to Executive including all cash and the value of all equity based options and grants of stock except for equity based options and grants of stock issued pursuant to Section 6.6 of the 1995 Plan (as defined below) (the value of each stock option to be determined as of the grant date thereof and the value of each grant of restricted stock to be determined as of the date described hereinbelow by applying the Black-Scholes model where applicable or another recognized form of
View Source

Examples of Lump Sum Payment Amount in a sentence

  • If the Executive's employment is voluntarily terminated by the Executive, the Executive shall be entitled to be paid the Lump Sum Payment Amount, as defined above, within ninety (90) days after the effective date of the Executive's termination, or upon such later date as may be mutually agreed upon by the Executive and the Employer in advance of the effective date of the Executive's termination.

  • In the event a Lump Sum Payment Amount is to be paid under Paragraph 5, the SPA shall be reduced as provided for in Paragraph 1.10 above by the aggregate amounts previously distributed to the Executive under the terms of this Paragraph.

  • If the Executive’s employment is terminated by the Employer without cause, the Executive shall be entitled to be paid the Lump Sum Payment Amount, as defined above, within ninety (90) days after the effective date of the Executive’s termination, or upon such later date as may be mutually agreed upon by the Executive and the Employer in advance of the effective date of the Executive’s termination .

  • If the Executive's employment is terminated by the Employer without cause, the Executive shall be entitled to be paid the Lump Sum Payment Amount, as defined above, within ninety (90) days after the effective date of the Executive's termination, or upon such later date as may be mutually agreed upon by the Executive and the Employer in advance of the effective date of the Executive's termination .

  • If the Executive’s employment is voluntarily terminated by the Executive, the Executive shall be entitled to be paid the Lump Sum Payment Amount, as defined above, within ninety (90) days after the effective date of the Executive’s termination, or upon such later date as may be mutually agreed upon by the Executive and the Employer in advance of the effective date of the Executive’s termination.

  • In the event a Lump Sum Payment Amount is to be paid under Paragraph 5, the SPA shall be reduced as provided for in Paragraph 1.