Change of Control Payment

Change of Control Payment. Means a cash payment in an amount equal to 12 month's salary (based on Executive's Base Salary at the time of such termination), plus payment for all accrued and unused vacation time.

Change of Control Payment. (i) a cash severance payment equal to six (6) months of the Employee's base salary and (ii) a continuation of benefits for that same period, each as in effect at the time of the Payment Triggering Event.

Change of Control Payment. Means a cash payment in an amount equal to the greater of (x) the salary that would have been paid to Executive during the balance of the Term, or (y) 12 month's salary (in each case, based on Executive's monthly salary at the time of such termination), plus payment for all accrued and unused vacation time. In the event that the Change of Control occurs on or before December 31, 2013 and the Corporation's shareholders receive $6.00 or more per share in the Change of Control transaction, the... foregoing reference to 12 month's salary payment shall be increased to 18 months of salary. View More

Change of Control Payment. Means a cash payment in an amount equal to the greater of (x) the salary that would have been paid to Executive during the balance of the Term, or (y) 12 month's salary (in each case, based on Executive's monthly salary at the time of such termination), plus payment for all accrued and unused vacation time.