Common use of Base Salary Benefit Clause in Contracts

Base Salary Benefit. An amount equal to one hundred percent (100%) of Employee’s annual base salary as in effect at the time of such termination (without giving effect to any reduction in base salary that would constitute Constructive Termination) shall be paid to Employee in a lump sum on the earlier of (A) the Company's first regular payroll date following the date on which the Release (as defined in Section 5) becomes effective and (B) the seventy-fourth (74th) day following Employee’s termination date; provided that if such seventy-four (74) day period spans two calendar years, the payment shall be made in the second such calendar year; and provided further, however, that if the Change in Control does not constitute a “change in control event” as defined by Treasury Regulation Section 1.409A-3(i)(5) or any successor thereto, then the severance amount required by this clause (i) shall be divided into installments and paid at the times and in the manner such installments would be paid in accordance with Section 2(a)(i).

Base Salary Benefit. An amount equal to one hundred [●] percent (100[●] %) of Employee’s annual base salary as in effect at the time of such termination (without giving effect to any reduction in base salary that would constitute Constructive Termination) shall be paid to Employee in a lump sum on the earlier of (A) the Company's ’s first regular payroll date following the date on which the Release (as defined in Section 5) becomes effective and (B) the seventy-fourth (74th) day following Employee’s termination date; provided that if such seventy-four (74) day period spans two calendar years, the payment shall be made in the second such calendar year; and provided further, however, that if the Change in Control does not constitute a “change in control event” as defined by Treasury Regulation Section 1.409A-3(i)(5) or any successor thereto, then the severance amount required by this clause (i) shall be divided into installments and paid at the times and in the manner such installments would be paid in accordance with Section 2(a)(i).

Base Salary Benefit. An amount equal to one hundred and fifty percent (100150%) of Employee’s annual base salary as in effect at the time of such termination (without giving effect to any reduction in base salary that would constitute Constructive Termination) shall be paid to Employee in a lump sum on the earlier of (A) the Company's first regular payroll date following the date on which the Release (as defined in Section 5) becomes effective and (B) the seventy-fourth (74th) day following Employee’s termination date; provided that if such seventy-four (74) day period spans two calendar years, the payment shall be made in the second such calendar year; and provided further, however, that if the Change in Control does not constitute a “change in control event” as defined by Treasury Regulation Section 1.409A-3(i)(5) or any successor thereto, then the severance amount required by this clause (i) shall be divided into installments and paid at the times and in the manner such installments would be paid in accordance with Section 2(a)(i).

Base Salary Benefit. An amount equal to one hundred 100 percent (100%) of Employee’s annual base salary as in effect at the time of such termination (without giving effect to any reduction in base salary that would constitute Constructive Termination) shall be paid to Employee in a lump sum on the earlier of (A) the Company's first regular payroll date following the date on which the Release (as defined in Section 5) becomes effective and (B) the seventy-fourth (74th) day following Employee’s termination date; provided that if such seventy-four (74) day period spans two calendar years, the payment shall be made in the second such calendar year; and provided further, however, that if the Change in Control does not constitute a “change in control event” as defined by Treasury Regulation Section 1.409A-3(i)(5) or any successor thereto, then the severance amount required by this clause (i) shall be divided into installments and paid at the times and in the manner such installments would be paid in accordance with Section 2(a)(i).