Common use of Benefits Entitlements Clause in Contracts

Benefits Entitlements. On or before Employee's last day of employment with the Employer or any of its subsidiaries, the Employer will pay to the Employee as compensation for services rendered a lump sum cash amount (subject to any applicable payroll or other taxes required to be withheld) equal to the sum of, a. Employees' highest annual salary fixed during the period he was an employee of the Employer, plus b. the largest aggregate amount awarded to Employee in a year as cash bonus (whether or not deferred) under the Corporation's short and long term cash incentive plans or arrangements providing for performance bonus payments during the preceding years, multiplied by: i. five (5), whether the termination is involuntary or voluntary.

Benefits Entitlements. On or before Employee's last day of employment with the Employer or any of its subsidiaries, the Employer will pay to the Employee as compensation for services rendered a lump sum cash amount (subject to any applicable payroll or other taxes required to be withheld) equal to the sum of, a. Employees' highest annual salary fixed during the period he was an employee of the Employer, plus b. the largest aggregate amount awarded to Employee in a year as cash bonus (whether or not deferred) under the Corporation's short and long term cash incentive plans or arrangements providing for performance bonus payments during the preceding years, multiplied by: i. five (5), whether the termination is involuntary or voluntary.

Benefits Entitlements. On or before Employee's last day of employment with the Employer or any of its subsidiaries, the Employer will pay to the Employee as compensation for services rendered a lump sum cash amount (subject to any applicable payroll or other taxes required to be withheld) equal to the sum of, a. Employees' highest annual salary fixed during the period he was an employee of the Employer, plus b. . the largest aggregate amount awarded to Employee in a year as cash bonus (whether or not deferred) under the Corporation's short and long term cash incentive plans or arrangements providing for performance bonus payments during the preceding years, multiplied by: i. five (5), whether the termination is involuntary or voluntary.