Change in Control Payment

Change in Control Payment. Equivalent of thirty-six (36) months of the Executive's then-current salary, plus the Executive's eligible Annual Incentive Plan (AIP) bonus applicable to the year in which the Separation Date occurs at the Target amount

Change in Control Payment. For purposes of this Agreement, the "Change in Control Payment" shall mean an aggregate amount of money equal to the product of three (3) multiplied by the sum of the Executive's annual base salary as in effect at the time of the Commencement Date, plus the annual bonus the Executive received for calendar year 2001 (paid in 2002), together with any Equalization Payment paid in accordance... with Section 3.B.(i). In the event that the Company does not pay the Change in Control Payment by the due dates specified in this Agreement, then any unpaid amount shall bear interest at the rate of 18 percent per annum, compounded monthly, until it is paid. View More

Change in Control Payment. Shall mean the sum of the following amounts: (i) all accrued salary not yet paid by the Company to the Executive (including, without limitation, any deferred salary other than deferrals under any 401(k) plan or other qualified retirement plan); (ii) all deferred bonuses earned by the Executive but not yet paid by the Company, regardless of whether such deferred bonuses (or any portion thereof) would otherwise be payable on the Change in Control Date (including, without limitation, if the... Change in Control Date occurs after the end of a fiscal year but prior to the date that bonuses are paid with respect to such fiscal year, all bonus payments relating to such prior fiscal year), but not including any amounts deferred under any 401(k) plan or other qualified retirement plan; 3 (iii) a pro-rata bonus (if any) for the fiscal year in which the Change in Control Date occurs equal to the product of (A) the fraction resulting from dividing the number of months that have elapsed in the current fiscal year (rounding up to the nearest full month) by twelve (12) and (B) the greater of (1) the full bonus that would have been earned (without giving effect to any portion that would otherwise have been deferred) by the Executive for such entire fiscal year calculated by utilizing the annualized operating results of the Company from the beginning of such fiscal year through the last day of the month preceding the Change in Control Date, and (2) the average of the bonuses earned (without giving effect to any portion that was or would have been deferred) by the Executive in the two (2) fiscal years prior to the fiscal year in which the Change in Control Date occurs (the greater of (B)(1) and (B)(2) hereinafter referred to as the "Change in Control Bonus Amount"); (iv) the product of three (3) multiplied by the highest salary (on an annualized basis) paid by the Company to the Executive during the twenty-four (24) month period immediately preceding the Change in Control Date; and (v) the product of three (3) multiplied by the Change in Control Bonus Amount. View More

Change in Control Payment. Shall consist of (i) the payment, within 90 days after the Change in Control Event, of a lump sum equal to two hundred percent (200%) of the sum of (A) her annualized base salary at the rate being paid to Employee immediately prior to the termination of her employment, and (B) the most recent bonus earned by Employee (which, if it has been earned but not paid to Employee for the year most recently ended prior to the termination of Employee's employment, such bonus shall be paid independently... (and without reduction) of this lump sum payment), and (ii) for two (2) years following the Change in Control Event a continuation of health insurance benefits, life insurance and dental which are comparable to those received by her at the time of termination. View More

Change in Control Payment. Two times the higher of (i) Employee's annual base salary in effect on the date of the Change in Control or (ii) Employee's highest annual base salary during the term of Employee's employment with the Company.