https://contracts.justia.com/companies/diebold-nixdorf-incorporated-398/contract/1273711/
Severance Payment.
i.Provided that Executive is not in material breach of any of the terms of this Agreement, the Company will make the following payments to Executive: an amount of One Million Five Hundred Seventy Thousand One Hundred Seventy Three Dollars (USD $1,570,173), less applicable statutory deductions, which is one and one half (1.5) multiplied by the sum of the following (A) Executive’s base salary of Five Hundred Twenty Three Thousand Three Hundred Ninety One Dollars (USD $523,391) and (B) Executive’s 2023 annual target bonus of Five Hundred Twenty Three Thousand Three Hundred Ninety One Dollars (USD $523,391) payable in two equal installments of Seven Hundred Eighty Five Thousand Eighty Six Dollars and 50/100 (USD $785,086.50) each with the first installment paid on March 1, 2024 and the second installment paid on May 1, 2024. The payment will be characterized as a Retiring Allowance and treated as such for the purposes of the Canada Revenue Agency.