Termination Compensation means a monthly cash amount equal to one-twelfth (1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).
Termination Compensation means: (i) one hundred fifty percent (150%) of the Employee’s then current annual base salary which shall be payable in a lump sum within two weeks after separation of employment, conditioned on Employee executing the Company’s standard form severance and release agreement, and shall be subject to customary withholding and other applicable payroll processes. Employee shall execute the Company’s standard form severance and release agreement within sixty (60) days after the Employee’s termination.
Termination Compensation as provided in Section 7(c) of the Agreement, is hereby deleted and replaced in its entirety by the following definition:
Examples of Termination Compensation in a sentence
The following table summarizes the components of this column for 2021: NameCompany Matching Contributions ($)(1) Relocation ($)(2) Tax Assistance ($)(2)Post Termination Compensation ($)(3) Other Benefits ($)(4) Total ($) D.
Failure to satisfy the School Occupancy Readiness Conditions for a School by the applicable Longstop Date shall constitute a Developer Default upon which PGCPS may terminate this Agreement for cause in accordance with Article 19 (Events of Default, Remedies, Termination, and Termination Compensation).
In the event Developer fails to achieve School Occupancy Readiness by the applicable Longstop Date, a Developer Default hereunder shall be deemed to have occurred, and PGCPS may pursue all remedies available under Article 19 (Events of Default, Remedies, Termination, and Termination Compensation) in accordance with the terms thereof.
More Definitions of Termination Compensation
Termination Compensation shall consist of payment of the Employee's Salary under Section 4(a), at the level in effect at the date of termination, for the longer of (A) any remaining part of the initial term of the Employment Term or (B) 6 months. The Employee shall not be entitled to any Termination Compensation under this Section 6 unless the Employee executes and delivers to the Company after a notice of termination a release in a form satisfactory to the Company in its sole discretion by which the Employee releases the Company and its affiliates, and the Company so releases the Employee, from any obligations and liabilities of any type whatsoever, except for the Company's obligation to provide the Salary specified in this Section 6, any unpaid bonus earned by Employee for the bonus period in which termination of employment occurs, adjusted pro rata based upon the portion of such bonus period in which the Employee was actually employed by the Company hereunder and any liability for any Employment Injury. The parties hereto acknowledge that the Salary to be provided under this Section 6 is to be provided in consideration for a above-specified release. Compensation under the terms and conditions of Section 6(c) and any obligations that the Company may have for any Employment Injury.
Termination Compensation means the highest amount of cash compensation paid (or earned and payable whether or not deferred) to or for the benefit of Employee in respect of any of the three most recent calendar years ending prior to the date of termination, determined by reference to the annual cash compensation (salary and bonus) reflected in columns (c) and (d) of the summary compensation table set forth in Employer's proxy statement for such year, or, in the absence of such previously reported table, by reference to the amount of such compensation as would be reflected for such year in such a summary compensation table prepared in accordance with Item 402(b) of Regulation S-K of the Securities and Exchange Commission; provided that if termination occurs prior to March 31, 2002, such amount shall be $200,000.
Termination Compensation equal to two years of Employee’s Base Salary (not taking into account any reduction in Base Salary that serves as the basis for a termination for Good Reason), payable in equal installments (no less frequently than monthly) over a 24-month period (the “Severance Period”) (commencing with the first payroll period following the sixtieth (60th) day after Employee’s date of termination of employment) in accordance with the Company’s general policies and procedures for the payment of salaries to its executive officers;
Termination Compensation means the compensation payable to the Operator on the Termination Date, in accordance with this Agreement.
Termination Compensation means: (i) one hundred percent (100%) of Employee’s then current annual base salary plus (ii) one hundred percent (100%) of the greater of the actual cash bonus paid to employee attributable to the prior year’s service or Employee’s target cash bonus for the current year, all of which shall be payable in a lump sum within 2 weeks after separation of employment, conditioned on Employee executing the Company’s standard form severance and release agreement, and shall be subject to customary withholding and other applicable payroll processes.