Determination of Incentive Bonuses Following Termination of Employment Sample Clauses

Determination of Incentive Bonuses Following Termination of Employment. In the event of the termination of the Executive's employment by the Corporation for Cause (as defined in Section 20(a)) or by the Executive without Good Reason (as defined in Section 20(c)), the Executive shall be entitled to receive an
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Determination of Incentive Bonuses Following Termination of Employment. In the event of the termination of the Executive's employment by the Corporation for Cause (as defined in Section 20(a)) or by the Executive without Good Reason (as defined in Section 20(c)), the Executive shall be entitled to receive Incentive Bonuses for any calendar year concluded prior to such termination of employment but shall not be entitled to receive Incentive Bonuses for the calendar year in which such termination of employment occurs. In the event of the termination of the Executive's employment for any reason other than by the Corporation for Cause or by the Executive without Good Reason, including without limitation the Executive's death or disability, the Executive shall be entitled to receive Incentive Bonuses both with respect to any calendar year concluded prior to such termination of employment and with respect to the calendar year in which such termination of employment occurs. The amount of the At-Plan Target and the Over-Plan Target for a year in which a termination occurs shall be prorated based upon the portion of the year during which the Executive was employed by the Corporation, and the determination of the At-Plan Bonus and the Over-Plan Bonus for such year shall be determined based upon revenue, bookings, and EBITDA and targeted revenues, bookings and EBITDA under the Annual Operating Plan for that year through either the end of the calendar month in which the termination occurs or the end of the preceding calendar month, whichever is more favorable to the Executive.
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Related to Determination of Incentive Bonuses Following Termination of Employment

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Termination of Employment Following a Change in Control Notwithstanding the provisions of Section 6.3 hereof to the contrary, if the Employee’s employment by the Company is terminated by the Company in accordance with the terms of Section 4 of the Termination Agreement and the Employee is entitled to benefits provided in Section 5 of the Termination Agreement, the Company shall pay to the Employee, in a lump sum in cash within 30 days after the Date of Termination, the aggregate of the Employee’s Base Salary (as in effect on the Date of Termination) through the Date of Termination, if not theretofore paid, and, in the case of compensation previously deferred by the Employee, all amounts of such compensation previously deferred shall be paid in accordance with the plan documents governing such deferral. Except with respect to the obligations set for forth in the Termination Agreement, notwithstanding any provisions herein to the contrary, all other obligations of the Company and rights of the Employee hereunder shall terminate effective as of the Date of Termination.

  • Compensation Following Termination In the event that Executive’s employment hereunder is terminated, Executive shall be entitled only to the following compensation and benefits upon such termination:

  • Qualifying Termination of Employment A “Qualifying Termination of Employment” shall mean a termination of Executive’s employment during the Protected Period either (a) by the Company other than for Cause or (b) by Executive for a Good Reason. A termination of employment due to the Executive’s death or Disability during the Protected Period shall not constitute a Qualifying Termination of Employment.

  • Term; Termination of Employment The term of this Agreement (the “Term”) begins on the Effective Date and will end, along with Executive’s employment with the Company, on the earliest to occur of the following events.

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

  • Payments Upon Termination of Employment (a) If Executive’s employment with the Company is terminated by reason of:

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Termination of Employment Due to Retirement In the event of the Retirement of the Participant after nine months of the Performance Cycle have elapsed, the Participant’s Performance Units shall be settled based on the performance for the Performance Cycle and payable on a pro-rata basis as determined and certified by the Board after the close of the Performance Cycle as described below. Subject to the negative discretion of the Board, the Participant will be entitled to receive a payment equal to the product of (i) the pro-rata vesting percentage equal to the days of Participant’s Employment during the Performance Cycle divided by the total days in the Performance Cycle and (ii) the Payout Value. Such payment shall be made as soon as administratively feasible following the Board’s determination under Paragraph 2 and, in all cases, the payment shall be made within the first calendar year following the end of the Performance Cycle. If, in accordance with the Board’s determination under Paragraph 2, the Payout Value is zero, the Participant shall immediately forfeit any and all rights to the Performance Units. Upon the vesting and/or forfeiture of the Performance Units pursuant to this Paragraph 6 and the making of the related cash payment, if any, the rights of the Participant and the obligations of the Company under this Award Agreement shall be satisfied in full. The death of the Participant following Retirement but prior to the close of the Performance Cycle shall have no effect on this Paragraph 6.

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

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