Severance Payments

Severance Payments. Means (1) a lump sum cash payment equal to two times the Executive's Base Salary as of the Date of Termination (except for purposes of Section 9(d)(ii), in lieu of the foregoing, the Executive shall receive a lump sum cash payment equal to two and one half times the Executive's Base Salary as of the Date of Termination plus two and one half times the average bonuses earned for the two years prior to the year in which the Date of Termination occurs), (2) a pro-rata bonus for the year of... termination payable when bonuses for such year are normally paid, and, if based on objective performance or other criteria, such bonus shall be based on actual achievement of such criteria for such year of termination, (3) all of Executive's unvested and unexercisable equity awards that are outstanding as of the Date of Termination shall be vested in all circumstances (except as noted below) and remain exercisable for two years following the Date of Termination, or in a termination subject to Section 9(d)(ii), five years following the Date of Termination (or, in any case, if earlier, the original expiration date of the award) except that, in a termination subject to Section 9(d)(i) only, the total amount of the equity awards provided for in Section 5(c) shall, if not otherwise vested to a greater extent, be vested at the level of 50% if the Date of Termination is during the first year after the date of grant and during the Employment Period, 75% if the Date of Termination is during the second year after the date of grant and during the Employment Period and 100% if the Date of Termination is after the second anniversary of the date of grant and during the Employment Period, and (4) the Executive and his covered dependents shall be entitled to continued participation on the same terms and conditions as applicable immediately prior to the Executive's Date of Termination for 24 months in such medical, dental, hospitalization and life insurance coverages in which the Executive and his eligible dependents were participating immediately prior to the Date of Termination or such earlier time that Executive becomes eligible for comparable benefits elsewhere; provided, however, if such insurance coverage cannot be provided by the Company for any period after 18 months, the Company will pay the Executive the amount on an after-tax basis equal to the COBRA premiums for the subsequent period. Notwithstanding the foregoing, for purposes of termination with Good Reason due to the non-renewal of this Agreement, for purposes of clause 1 above, the Executive shall only be entitled to a lump sum cash payment equal to one times the Executive's Base Salary as of the Date of Termination. View More

Severance Payments. (i) lump-sum cash payments (including payments in lieu of medical and other benefits), (ii) the estimated present value of periodic cash payments under previously established bonus, retirement, deferred compensation, or other Company benefit plans, (iii) fringe benefits other than those provided under Company programs or arrangements applicable to one or more groups of employees in addition to Participants, and (iv) consulting fees (including reimbursable expenses) other than reasonable fees... and expenses for bona fide services provided to the Company after termination, paid or payable by the Company to a Participant pursuant to this Policy or otherwise upon a termination by the Company of employment of such Participant at any time other than within two years following a Change in Control, excluding Vested, Accrued or Appropriate Benefits View More

Severance Payments. Those payments described in Article 3 hereof.

Severance Payments. Shall mean lump sum cash payments in amounts totaling $200,000.00, payable in accordance with the terms herein.

Severance Payments. Shall mean severance in the form of salary continuation for twelve (12) months at the base salary rate in effect as of the Executive's employment termination date, subject to standard payroll deductions and withholdings and paid on the Company's normal payroll dates.

Severance Payments. For purposes of this Agreement, "Severance Payments" shall mean payments in cash, and less all applicable withholding taxes, equal to the sum of (i) twelve (12) months of the Executive's Base Salary, as then in effect, for any terminations pursuant to Section 6(a), or fifteen (15) months of the Executive's Base Salary, as then in effect, for any terminations pursuant to Section 6(c), and (ii) the Target Bonus for the fiscal year in which such termination of employment occurs, pro-rated to the... date of termination (less applicable withholding taxes). The pro rata portion of the Target Bonus will be calculated by multiplying the applicable year's Target Bonus by a fraction with a numerator equal to the number of days inclusive between the start of the current calendar year and the date of termination and a denominator equal to 365. View More

Severance Payments. Shall have the meaning set forth in Section 4.1 hereof. 9 CEO agreement only. 16

Severance Payments. Severance pay in an amount equal to 24 months of Base Salary, plus an amount equal to the greater of (A) the aggregate bonus payment(s) received by the Employee in the Company's preceding fiscal year or (B) the target bonus amount, such payments to be paid in accordance with the terms in Section 2.1(b) below. Notwithstanding the foregoing, if the tenure of Employee's employment with the Company at the time of termination is less than one year, then the bonus amount calculated under this Section... 1.11 shall be pro rated for the partial year of service. View More

Severance Payments. The aggregate gross amount of severance payments determined in accordance with Sections 2 and 3 of this Agreement to be paid to the Executive who is entitled to receive such severance benefits under this Agreement.

Severance Payments. The payments and benefits that a Participant is entitled to upon a Qualified Termination pursuant to Section 4(c) of the Plan.