Severance Payment

Severance Payment. Shall mean the product of (A) [For the CEO: 1.5][For other executives: 1.0] multiplied by (B) the sum of Executive's Base Salary plus Executive's target annual bonus for the fiscal year in which the Termination Date occurs (or, if Executive's target annual bonus for such fiscal year has not yet been established, Executive's target annual bonus from the prior fiscal year) (the "Target Annual Bonus Amount"); provided that if Executive's Termination Date occurs during the Change of Control... Employment Period, then the Severance Payment shall mean the product of (A) [For the CEO: 2.5][For other executives: 1.5] multiplied by (B) the sum of Executive's Base Salary plus the greater of the Target Annual Bonus Amount or the actual bonus earned by Executive for the prior fiscal year. For purposes of this definition, the Executive's Base Salary shall be the amount in effect immediately preceding the Termination Date; provided that if a reduction in Executive's Base Salary constituted a Good Reason for the termination, then Base Salary shall be the amount in effect immediately prior to such reduction. View More

Severance Payment. Means an amount equal to one-year of the Employee's Base Salary.

Severance Payment. See Section 6.1. Page 5 EXECUTIVE: GARY S. MARGOLIS 2.30 TERMINATION DATE means the effective date of a termination of the Employment by either the Company or the Executive. 2.31 TRIBUNAL means an arbitration panel, court, or other body of competent jurisdiction that is deciding a matter relating to this Agreement.

Severance Payment. Severance Payment shall mean a lump sum cash payment equal to twelve (12) months Base Amount.

Severance Payment. Means an amount equal to the sum of the Base Salary and the Bonus Amount.

Severance Payment. Means the Employee's Annual Compensation for the Severance Period.

Severance Payment. Equivalent to nine (9) months of Executive's base salary in effect immediately prior to the Change in Control, payable in accordance with Company's first regular payroll cycle occurring sixty (60) days following the termination date

Severance Payment. Means (i) continuation of base salary (but not bonus, commissions or other incentive compensation) for 365 days following the date of termination of employment, payable according to the Company's ordinary payroll practices, plus (ii) a bonus equal to one hundred percent (100%) of Executive's target annual bonus in effect on the date of termination, payable in equal installments coinciding with the Company's payroll cycle over the 365 days following the date of termination of employment, which... shall be paid in lieu of any bonus earned in whole or part but not paid, regardless of when during the year the termination of employment occurs and without regard to any performance requirements that would otherwise be associated with payment of a bonus for that year. View More

Severance Payment. Means a cash amount equal (x) $500,000, to be divided into 12 equal installments and paid monthly beginning with the first full month following the Termination Date, plus (y) an Incentive Payment in such amount, if any, as determined by the Compensation Committee in its sole discretion, to be paid within 15 days following completion of an audit of Thomas Group's financial statements by Thomas Group's certified public accountants for the year ending December 31, 2007, and no later than April... 15, 2008; provided, that the Compensation Committee shall take into account Thomas Group's actual performance prior to the Termination Date as compared to the threshold amounts set forth in Exhibit A, pro rated as appropriate to reflect the portion of the fiscal year completed as of the Termination Date. View More

Severance Payment. Shall mean an amount equal to the sum of: (i) Officer's base salary as in effect on the Change in Control Date; provided, however, that Officer's base salary as in effect on the Change in Control Date shall be annualized, and provided further that, in the event that there occurs any reduction in Officer's base salary and such reduction occurs (A) any time commencing with the date sixty (60) days prior to the date on which the Corporation, the Bank, Camner and/or a subsidiary or... affiliate of the foregoing persons entered into an oral or written, binding or nonbinding, agreement with a third party to effect a Change in Control (an "Agreement to Effect a Change in Control") or (B) any time within the sixty (60) day period ending on the Change in Control Date where such Change in Control has been effected without the entering into an Agreement to Effect a Change in Control, then, for purposes of determining the amount of the Severance Payment, such reduction shall be disregarded and Officer's base salary as in effect immediately prior to such reduction shall be used in lieu of Officer's base salary as in effect on the Change in Control Date; and (ii) the sum of all bonuses awarded to Officer in respect of services rendered by Officer to Employer in the fiscal year of Employer (the "Employer's Prior Fiscal Year") which immediately precedes the fiscal year in which there occurs a Change in Control (collectively, "Officer's Prior Year Bonus"); provided, however, that, in the event that there is entered into an Agreement to Effect a Change in Control any time commencing with the date one hundred twenty (120) days prior to the final day of the Employer's Prior Fiscal Year or, absent the entering into of an Agreement to Effect a Change in Control, the Change in Control Date shall occur within one hundred twenty (120) days after the final day of the Employer's Prior Fiscal Year, then there shall be included in the Severance Payment the greater of Officer's Prior Year Bonus or the sum of all bonuses awarded to Officer in respect of services rendered by Officer to Employer in the fiscal year immediately preceding the Employer's Prior Fiscal Year. View More