Common use of Calculation of Termination Payment Clause in Contracts

Calculation of Termination Payment. The termination payment shall equal the product of the Termination Payment Period as set forth above in subsection (a) multiplied by the sum of (i) the Executive's highest annual base salary during the three-year period prior to the Executive's termination plus (ii) the Executive's average annual cash incentive compensation award during the three-year period prior to the Executive's termination. For purposes of this subsection (b), the applicable three-year period shall include employment with RSI.

Appears in 2 contracts

Sources: Merger Agreement (Rykoff Sexton Inc), Merger Agreement (Rykoff Sexton Inc)

Calculation of Termination Payment. The termination payment shall equal the product of the Termination Payment Period as set forth above in subsection (a) multiplied by the sum of (i) the Executive's ------------- highest annual base salary during the three-year period prior to the Executive's termination plus (ii) the Executive's average annual cash ---- incentive compensation award during the three-year period prior to the Executive's termination. For purposes of this subsection subsection, (b), ) the applicable three-year period shall include employment with RSI.

Appears in 1 contract

Sources: Employment Agreement (Jp Foodservice Inc)