Termination Payments

Example Definitions of "Termination Payments"
Termination Payments. The Company's payment to Executive of (i) an amount equal to twelve (12) months of Executive's Monthly Base Salary, less applicable withholdings, plus (ii) an amount equal to the incentive bonus payment received by Executive for the fiscal year immediately preceding the fiscal year in which the Termination Date occurs, less applicable withholdings, both payable in a lump sum on the Company's first regular payroll date after expiration of the release described in Section 7.
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