Common use of Automobile Component Clause in Contracts

Automobile Component. The Executive shall be entitled to purchase the Company-leased automobile, if any, being used by the Executive prior to termination at the "buyout amount" specified by the vehicle's lessor. The parties acknowledge that the amounts and benefits provided in (i) through (vi) above constitute a reasonable estimate of and compensation for any damages the Executive may suffer as the result of his termination of employment under this Agreement. If the Executive does not execute, or having executed, effectively revokes the Release, the Company will not be obligated to provide any benefits or payments of any kind to the Executive.

Automobile Component. The Executive shall be entitled to purchase the Company-leased automobile, if any, being used by the Executive prior to termination at the "“buyout amount" ” specified by the vehicle's ’s lessor. The parties acknowledge that the amounts and benefits provided in (i) through (viv) above constitute a reasonable estimate of and compensation for any damages the Executive may suffer as the result of his termination of employment under this Agreement. If the Executive does not execute, or having executed, effectively revokes the Release, the Company will not be obligated to provide any benefits or payments of any kind to the Executive.

Automobile Component. The Executive shall be entitled to purchase the Company-leased automobile, if any, being used by the Executive prior to termination at the "“buyout amount" ” specified by the vehicle's ’s lessor. The parties acknowledge that the amounts and benefits provided in (i) through (vi) above constitute a reasonable estimate of and compensation for any damages the Executive may suffer as the result of his termination of employment under this Agreement. If the Executive does not execute, or having executed, effectively revokes the Release, the Company will not be obligated to provide any benefits or payments of any kind to the Executive.