{"component": "definition", "props": {"groups": [{"samples": [{"hash": "lNBD5w8e1MJ", "uri": "/contracts/lNBD5w8e1MJ#termination-compensation", "label": "Employment Agreement (Bb&t Corp)", "score": 25.8117733002, "published": true}, {"hash": "ei5rvLVUX5i", "uri": "/contracts/ei5rvLVUX5i#termination-compensation", "label": "Employment Agreement (Bb&t Corp)", "score": 25.8117733002, "published": true}, {"hash": "28YrS7Zm2lp", "uri": "/contracts/28YrS7Zm2lp#termination-compensation", "label": "Employment Agreement (Bb&t Corp)", "score": 25.8117733002, "published": true}], "snippet": "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\u2019s 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\u2019s highest amount of annual cash compensation. 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"snippet": "means: (i) one hundred forty percent (140%) of the Employee\u2019s then current annual base salary which shall be payable in a lump sum within forty-five (45) days after separation of employment, conditioned on Employee executing the Company\u2019s standard form severance and release agreement within twenty (20) days of the Employee\u2019s termination, and shall be subject to customary withholding and other applicable payroll processes. 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(the \u201cMerger\u201d) occurs (such highest amount, the \u201cHighest Prior Year Compensation\u201d); provided that, if the cash compensation received by Executive during the Termination Year exceeds the Highest Prior Year Compensation the cash compensation received by Executive during the Termination Year shall be deemed to be Executive\u2019s highest amount of annual cash compensation for purposes of calculating the Termination Compensation. In no event shall Executive\u2019s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive\u2019s exercise of non-qualified stock options or other stock-based benefits) or any retention or integration bonus awarded in connection with the Merger, including the award under the Synergy Letter.\n8. This Amendment shall be binding on the parties hereto effective as of the date hereof but shall only become effective as of upon, and subject to, the consummation of the Merger, provided that as of such date, Executive has remained in continuous employment with Employer. If the Merger is abandoned and the Merger Agreement is terminated in accordance with its terms, this Amendment shall be of no force.\n9. In all other respects, the parties hereby ratify and affirm the terms of the Agreement. This Amendment may be executed in several counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement.", "size": 9, "snippet_links": [{"key": "cash-amount", "type": "definition", "offset": [16, 27]}, {"key": "equal-to", "type": "definition", "offset": [28, 36]}, {"key": "annual-cash-compensation", "type": "definition", "offset": [87, 111]}, {"key": "cash-bonuses", "type": "clause", "offset": [123, 135]}, {"key": "other-cash", "type": "definition", "offset": [140, 150]}, {"key": "based-compensation", "type": "clause", "offset": [151, 169]}, {"key": "by-executive", "type": "clause", "offset": [260, 272]}, {"key": "calendar-years", "type": "clause", "offset": [305, 319]}, {"key": "termination-date", "type": "definition", "offset": [381, 397]}, {"key": "consummation-of-the-merger", "type": "clause", "offset": [528, 554]}, {"key": "prior-year-compensation", "type": "definition", "offset": [645, 668]}, {"key": "provided-that", "type": "clause", "offset": [672, 685]}, {"key": "compensation-received", "type": "definition", "offset": [699, 720]}, {"key": "termination-year", "type": "clause", "offset": [745, 761]}, {"key": "for-purposes-of", "type": "clause", "offset": [955, 970]}, {"key": "calculating-the", "type": "clause", "offset": [971, 986]}, {"key": "in-no-event-shall", "type": "clause", "offset": [1013, 1030]}, {"key": "exercise-of", "type": "clause", "offset": [1152, 1163]}, {"key": "qualified-stock-options", "type": "definition", "offset": [1168, 1191]}, {"key": "other-stock", "type": "definition", "offset": [1195, 1206]}, {"key": "integration-bonus", "type": "clause", "offset": [1243, 1260]}, {"key": "in-connection-with", "type": "clause", "offset": [1269, 1287]}, {"key": "the-award", "type": "clause", "offset": [1310, 1319]}, {"key": "this-amendment", "type": "clause", "offset": [1349, 1363]}, {"key": "the-parties-hereto", "type": "clause", "offset": [1384, 1402]}, {"key": "effective-as-of-the", "type": "clause", "offset": [1403, 1422]}, {"key": "date-hereof", "type": "clause", "offset": [1423, 1434]}, {"key": "become-effective", "type": "clause", "offset": [1450, 1466]}, {"key": "subject-to", "type": "definition", "offset": [1483, 1493]}, {"key": "employment-with-employer", "type": "clause", "offset": [1595, 1619]}, {"key": "the-merger-agreement", "type": "clause", "offset": [1652, 1672]}, {"key": "in-accordance-with", "type": "definition", "offset": [1687, 1705]}, {"key": "in-all-other-respects", "type": "clause", "offset": [1757, 1778]}, {"key": "ratify-and-affirm", "type": "clause", "offset": [1799, 1816]}, {"key": "the-terms-of-the-agreement", "type": "clause", "offset": [1817, 1843]}, {"key": "in-several-counterparts", "type": "clause", "offset": [1876, 1899]}, {"key": "one-and-the-same-agreement", "type": "clause", "offset": [1987, 2013]}], "hash": "67df44365eeab375e82cc9b5bcbce98c", "id": 10}], "next_curs": "CmUSX2oVc35sYXdpbnNpZGVyY29udHJhY3RzckELEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIhdGVybWluYXRpb24tY29tcGVuc2F0aW9uIzAwMDAwMDBhDKIBAmVuGAAgAA==", "definition": {"title": "Termination Compensation", "snippet": "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\u2019s 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\u2019s highest amount of annual cash compensation. In no event shall Executive\u2019s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive\u2019s exercise of non-qualified stock options or other stock based benefits).", "size": 244, "id": "termination-compensation", "examples": ["TxDOT at its election may offset any <strong>Termination Compensation</strong> owing to Developer by the amount of the Handback Requirements Reserve owing to TxDOT.", "Payments of the <strong>Termination Compensation</strong> shall be made at the times such payments would have been made in accordance with Section 4(a).", "The <strong>Termination Compensation</strong> and other benefits provided for in this Section 1.7.3 shall be paid by Employer in accordance with the standard payroll practices and procedures in effect prior to Executive\u2019s Termination Date.", "The <strong>Termination Compensation</strong> and other benefits provided for in this Section 1.7.4 shall be paid by Employer in accordance with the standard payroll practices and procedures in effect prior to Executive\u2019s Termination Date.", "Advance payments in violation of this provision shall be excluded from the calculation of <strong>Termination Compensation</strong>.", "If Executive breaches Executive\u2019s obligations under Section 1.7.4 or Section 2 of this Agreement, Executive shall not be entitled to receive any further <strong>Termination Compensation</strong> or benefits pursuant to this Section 1.7.4 from and after the date of such breach.", "If Executive breaches Executive\u2019s obligations under Section 1.7.3 or Section 2 of this Agreement, Executive shall not be entitled to receive any further <strong>Termination Compensation</strong> or benefits pursuant to this Section 1.7.3 from and after the date of such breach.", "The <strong>Termination Compensation</strong> and other benefits provided for in this Section 1.7.5 shall be paid by Employer in accordance with the standard payroll practices and procedures in effect prior to Executive\u2019s Termination Date, a Change of Control or MOE Revocation, as appropriate.", "Thus, if Executive has not satisfied either the age or service requirement (or both) under BB&amp;T\u2019s retiree health care program at the time payment of Executive\u2019s <strong>Termination Compensation</strong> begins, but satisfies the age or service requirement (or both) at the time such <strong>Termination Compensation</strong> payments end, Executive shall be deemed to have satisfied the age or service requirement (or both) for purposes of BB&amp;T\u2019s retiree health care program as of the date Executive\u2019s <strong>Termination Compensation</strong> payments end.", "Thereafter, Executive shall receive only compensation to which Executive is entitled under any applicable disability insurance plan of Employer; and Executive shall have no right to receive any other compensation (such as <strong>Termination Compensation</strong>) or other benefits upon or after Executive\u2019s Termination Date."], "related": [["special-compensation", "Special compensation", "Special compensation"], ["final-compensation", "Final compensation", "Final compensation"], ["severance-compensation", "Severance Compensation", "Severance Compensation"], ["termination-benefits", "Termination Benefits", "Termination Benefits"], ["earned-compensation", "Earned Compensation", "Earned Compensation"]], "related_snippets": [], "updated": "2025-07-23T06:14:19+00:00"}, "json": true, "cursor": ""}}