Common use of Salary and Bonus Amount Clause in Contracts

Salary and Bonus Amount. The Company will commence to pay to the Executive thirty (30) days after a Qualifying Termination a cash amount equal to the product obtained by multiplying: (i) the sum of (A) base salary at the annualized rate which was being paid by the Company and/or subsidiaries to the Executive immediately prior to the time of such termination or, if greater, at the time of the Change in Control plus (B) the annual target bonus and/or any other annual cash incentive award opportunity applicable to the Executive at the time of the Qualifying Termination or, if greater, at the time of the Change in Control, by (ii) 2.00. Subject to Section 11(b) (regarding Section 409A matters), such salary and bonus amount shall be paid in substantially equal bi-weekly installments over twenty-four (24) consecutive months in accordance with the Company’s standard payroll practices.

Salary and Bonus Amount. The Company will commence to pay to the Executive thirty (30) days after a Qualifying Termination a cash amount equal to the product obtained by multiplying: (i) the sum of (A) base salary at the annualized rate which was being paid by the Company and/or subsidiaries to the Executive immediately prior to the time of such termination or, if greater, at the time of the Change in Control plus (B) the annual target bonus and/or any other annual cash incentive award opportunity applicable to the Executive at the time of the Qualifying Termination or, if greater, at the time of the Change in Control, by by (ii) 2.00. Subject to Section 11(b) (regarding Section 409A matters), such salary and bonus amount shall be paid in substantially equal bi-weekly installments over twenty-four (24) consecutive months in accordance with the Company’s standard payroll practices.