Document ID: 10104

Text:
3.4 Severance. If Bandwidth terminates Morken other than for Cause, or Morken resigns for Good Reason, then Bandwidth will pay to Morken an amount (Severance) equal to (i)one hundred fifty percent (1 50% ) the prior years Base Salary, plus (ii)one hundred fifty percent (1 50% ) of the Bonus Compensation, determined based on achievement of target performance levels for the year of termination. Such amount, less any applicable taxes and other similar amounts, will be paid in equal installments over an eighteen (18)month period following the termination in accordance with Bandwidths standard payroll practices and procedures. After an Unapproved Change in Control, in addition to the foregoing events, Severance will also be payable if Morken terminates his employment for any reason no more than twelve (12)months after the Unapproved Change in Control. The receipt of any severance benefits provided for pursuant to this Agreement or otherwise will be dependent upon Morkens delivery to Bandwidth of an effective general release of claims in a form reasonably satisfactory to Bandwidth not later than thirty (30)days after the date of Morkens termination of employment (or such longer period as may be required by applicable law), and shall be paid or commence no later than thirty (30)days thereafter, with the first payment to include any amounts that would have been payable on payroll dates occurring after Morkens termination of employment and prior to such first payment.

Named Entities:
42
44
Percentage
61
63
Percentage

Tokenized Text:
3
.
4
Severance
.
If
Bandwidth
terminates
Morken
other
than
for
Cause
,
or
Morken
resigns
for
Good
Reason
,
then
Bandwidth
will
pay
to
Morken
an
amount
(
Severance
)
equal
to
(
i
)
one
hundred
fifty
percent
(
1
50
%
)
the
prior
years
Base
Salary
,
plus
(
ii
)
one
hundred
fifty
percent
(
1
50
%
)
of
the
Bonus
Compensation
,
determined
based
on
achievement
of
target
performance
levels
for
the
year
of
termination
.
Such
amount
,
less
any
applicable
taxes
and
other
similar
amounts
,
will
be
paid
in
equal
installments
over
an
eighteen
(
18
)
month
period
following
the
termination
in
accordance
with
Bandwidths
standard
payroll
practices
and
procedures
.
After
an
Unapproved
Change
in
Control
,
in
addition
to
the
foregoing
events
,
Severance
will
also
be
payable
if
Morken
terminates
his
employment
for
any
reason
no
more
than
twelve
(
12
)
months
after
the
Unapproved
Change
in
Control
.
The
receipt
of
any
severance
benefits
provided
for
pursuant
to
this
Agreement
or
otherwise
will
be
dependent
upon
Morkens
delivery
to
Bandwidth
of
an
effective
general
release
of
claims
in
a
form
reasonably
satisfactory
to
Bandwidth
not
later
than
thirty
(
30
)
days
after
the
date
of
Morkens
termination
of
employment
(
or
such
longer
period
as
may
be
required
by
applicable
law
)
,
and
shall
be
paid
or
commence
no
later
than
thirty
(
30
)
days
thereafter
,
with
the
first
payment
to
include
any
amounts
that
would
have
been
payable
on
payroll
dates
occurring
after
Morkens
termination
of
employment
and
prior
to
such
first
payment
.