Severance Multiplier definition

Severance Multiplier means, with respect to any termination of Employee’s employment hereunder by the Company without Cause or by Employee with Good Reason, 1; provided, however, that in the event such termination occurs within the two (2) year period following a Change in Control, the Severance Multiplier shall instead equal 2.

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Severance Multiplier means an amount equal to one and one-half (1½).

Severance Multiplier is as defined in Section 6 of the Agreement.

Examples of Severance Multiplier in a sentence

• Any payments due under Section 5(e), Section 5(f), Section 5(g) or Section 8(b), as applicable, shall be payable in equal monthly installments over the number of years and/or portions thereof equal to the applicable Severance Multiplier; and, subject to Section 5(h), shall begin at the Company’s next regular payday following the effective date of termination.

• At the election of the Company, in accordance with and subject to the provisions of Section 8(b) hereof and subject to the Executive’s continued compliance with his obligations under Sections 6, 7 and 8 hereof, the Executive shall be entitled to all payments and benefits which the Executive would have been entitled to receive under Section 5(e) hereof as if termination had occurred thereunder, but with a Severance Multiplier of one (1).

• Upon a Non-Change in Control Termination, the Participant will receive as severance an amount equal to the product of (i) the sum of the Participant’s Monthly Base Salary and Monthly Annual Target Bonus, and (ii) the Participant’s applicable Severance Multiplier (the “Non-Change in Control Cash Severance”).

• For all purposes of this Agreement, the Employee’s “Severance Benefits” shall mean: the payment of an amount equal to the Employee’s Monthly Base Salary in effect immediately prior to his termination of employment multiplied by the Severance Multiplier.

• In the event the Qualifying Termination occurs within three months prior to, on, or within 12 months following a Change in Control (a “Change in Control Qualifying Termination”), then the Severance Multiplier instead shall be 1.5 and the Severance Multiplier will be multiplied by the sum of Base Salary and Target Bonus.

More Definitions of Severance Multiplier

Severance Multiplier means an amount equal to two (2); provided, however, if Employee’s termination occurs within the twelve (12) month period following a Change in Control, the Severance Multiplier shall equal three (3).

Severance Multiplier means 200%; provided, however, that Severance Multiplier means 299% solely in the event that the applicable Without Cause Termination or Constructive Discharge occurs within one year of a Change in Control (as defined from time to time in the Company’s 2004 Equity and Incentive Plan or subsequent plan).

Severance Multiplier means the multiplier, designated pursuant to Section 2.01(b) in accordance with a Participant’s Tier, to be applied to a Participant’s Change of Control Severance Payment under Section 3.01.

Severance Multiplier means: (A) nine (9) for a Qualifying Termination of a Participant other than the Chief Executive Officer (the “CEO”) and (b) twelve (12) for a Qualifying Termination of the CEO.

Severance Multiplier means one (1).

Severance Multiplier means the sum of (1) nine (9) plus (2) one (1) month for each additional twelve-month period of Executive’s employment with the Company or its affiliates (including Zeno Pharmaceuticals, Inc.) following September 1, 2015; provided, however, that the Severance Multiplier shall not exceed twelve (12);

Severance Multiplier means one for Group 1 Executives and two for Group 2 Executives.