Common use of Additional Severance Clause in Contracts

Additional Severance. In the event of Executive’s termination of employment under Section 5.1 (Death) or Section 5.2 (Disability), a lump sum cash payment during the sixty-five (65) day period following the date on which Executive’s Separation from Service occurs in an amount equal to the excess of: (1) two (2) times the sum of: (A) the highest rate of Executive’s annual Base Compensation in effect during the three (3) year period immediately preceding the Effective Date of Termination, plus (B) the highest annual bonus received by Executive in the three (3) year period immediately preceding the Effective Date of Termination; less (2) the Severance Amount.

Additional Severance. In the event of Executive’s termination of employment under Section 5.1 (Death) or Section 5.2 (Disability), a lump sum cash payment during the sixty-five (65) day period following the date on which Executive’s Separation from Service occurs occurs, in an amount equal to the excess of: (1A) two (2) times the sum of: (A1) the highest rate of Executive’s annual Base Compensation in effect during the three (3) year period immediately preceding the Effective Date of Termination, plus (B2) the highest annual bonus received by Executive in the three (3) year period immediately preceding the Effective Date of Termination; less (2B) the Severance Amount.