Common use of Base Salary Cash Severance Clause in Contracts

Base Salary Cash Severance. The Company shall pay to Executive an amount equal to one times Executive’s annualized base salary as of the Termination Date (or, if Executive’s resignation is for Good Reason because the Company materially reduced Executive’s base compensation, one times Executive’s annualized base salary as of immediately before such material reduction), less deductions and withholding required by law, payable in substantially equal installments in accordance with the Company’s regular payroll practices over the 12-month period immediately following the Termination Date; provided, however that any installments that otherwise would be payable within the 60-day period immediately following the Termination Date shall be delayed and payable with the installment that is payable on the Company’s first payroll date following the 60th day after the Termination Date. Notwithstanding anything above to the contrary, in no event will the amount paid under the first sentence of this Section 5.B.(i) exceed the lesser of two times (I) the limit of compensation set forth in section 401(a)(17) of the Code as in effect for the year in which the Termination Date occurs, or (II) Executive’s annualized compensation based upon the annual rate of pay for services to the Company for the calendar year prior to the calendar year in which the Termination Date occurs (adjusted for any increase during that year that was expected to continue indefinitely if Executive had not separated from service). If Executive’s severance pay as calculated under the first sentence of this Section 5.B.(i) is limited by application of clause (I) or (II) of the second sentence of this Section 5.B.(i), then the Company shall make an additional lump sum payment to Executive equal to the difference between (x) the amount payable to Executive under the first sentence of this Section 5.B.(i) but for the application of clause (I) or (II) of the second sentence of this Section 5.B.(i), and (y) the amount payable to Executive under the second sentence of this Section 5.B.(i) as a result of the application of clause (I) or (II) of the second sentence of this Section 5.B.(i). Such lump sum payment shall be a separate payment from the installment payments provided under this Section 5.B.(i) and shall be paid to Executive on the Company’s first payroll date following the 60th day after the Termination Date but in no event later than 75 days after the Termination Date.

Base Salary Cash Severance. The Company shall pay to Executive an amount equal to one times Executive’s annualized base salary as of the Termination Date (or, if Executive’s resignation is for Good Reason because the Company materially reduced Executive’s base compensation, one times Executive’s annualized base salary as of immediately before such material reduction), less deductions and withholding required by law, payable in substantially equal installments in accordance with the Company’s regular payroll practices over the 12-month period immediately following the Termination Date; provided, however that any installments that otherwise would be payable within the 60-day period immediately following the Termination Date termination date shall be delayed and payable with the installment that is payable on the Company’s first payroll date following the 60th day after the Termination Date. Notwithstanding anything above to the contrary, in no event will the amount paid under the first sentence of this Section 5.B.(i5.A.(i) exceed the lesser of two times (I) the limit of compensation set forth in section 401(a)(17) of the Code as in effect for the year in which the Termination Date occurs, or (II) Executive’s annualized compensation based upon the annual rate of pay for services to the Company for the calendar year prior to the calendar year in which the Termination Date occurs (adjusted for any increase during that year that was expected to continue indefinitely if Executive had not separated from service). If Executive’s severance pay as calculated under the first sentence of this Section 5.B.(i5.A.(i) is limited by application of clause (I) or (II) of the second sentence of this Section 5.B.(i5.A.(i), then the Company shall make an additional separate lump sum payment to Executive equal to the difference between (x) the amount payable to Executive under the first sentence of this Section 5.B.(i5.A.(i) but for the application of clause (I) or (II) of the second sentence of this Section 5.B.(i5.A.(i), and (y) the amount payable to Executive under the second sentence of this Section 5.B.(i5.A.(i) as a result of the application of clause (I) or (II) of the second sentence of this Section 5.B.(i5.A.(i). Such lump sum payment shall be a separate payment from the installment payments provided under this Section 5.B.(i5.A.(i) and shall be paid to Executive on the Company’s first payroll date following the 60th day after the Termination Date but in no event later than 75 days after the Termination Date.

Base Salary Cash Severance. The Company shall pay to Executive an amount equal to one times Executive’s annualized base salary Base Salary as of the Termination Date (or, if Executive’s resignation is for Good Reason because the Company materially reduced Executive’s base compensationBase Salary, one times Executive’s annualized base salary Base Salary as of immediately before such material reduction), less deductions and withholding required by law, payable in substantially equal installments in accordance with the Company’s regular payroll practices over the 12-month period immediately following the Termination Date; provided, however that any installments that otherwise would be payable within the 60-day period immediately following the Termination Date shall be delayed and payable with the installment that is payable on the Company’s first payroll date following the 60th day after the Termination Date. Notwithstanding anything above to the contrary, in no event will the amount paid under the first sentence of this Section 5.B.(i7.A.(i)(a) exceed the lesser of two times (I) the limit of compensation set forth in section 401(a)(17) of the Code as in effect for the year in which the Termination Date occurs, or (II) Executive’s annualized compensation based upon the annual rate of pay for services to the Company for the calendar year prior to the calendar year in which the Termination Date occurs (adjusted for any increase during that year that was expected to continue indefinitely if Executive had not separated from service). If Executive’s severance pay as calculated under the first sentence of this Section 5.B.(i7.A.(i)(a) is limited by application of clause (I) or (II) of the second sentence of this Section 5.B.(i7.A.(i)(a), then the Company shall make an additional separate lump sum payment to Executive equal to the difference between (x) the amount payable to Executive under the first sentence of this Section 5.B.(i7.A.(i)(a) but for the application of clause (I) or (II) of the second sentence of this Section 5.B.(i7.A.(i)(a), and (y) the amount payable to Executive under the second sentence of this Section 5.B.(i7.A.(i)(a) as a result of the application of clause (I) or (II) of the second sentence of this Section 5.B.(i7.A.(i)(a). Such lump sum payment shall be a separate payment from the installment payments provided under this Section 5.B.(i7.A.(i)(a) and shall be paid to Executive on the Company’s first payroll date following the 60th day after the Termination Date but in no event later than 75 days after the Termination Date.

Base Salary Cash Severance. The Company shall pay to Executive an amount equal to one two times Executive’s annualized base salary Base Salary as of the Termination Date (or, if Executive’s resignation is for Good Reason because the Company materially reduced Executive’s base compensationBase Salary, one two times Executive’s annualized base salary Base Salary as of immediately before such material reduction), less deductions and withholding required by law, payable in substantially equal installments in accordance with the Company’s regular payroll practices over the 1224-month period immediately following the Termination Date; provided, however that any installments that otherwise would be payable within the 60-day period immediately following the Termination Date shall be delayed and payable with the installment that is payable on the Company’s first payroll date following the 60th day after the Termination Date. Notwithstanding anything above to the contrary, in no event will the amount paid under the first sentence of this Section 5.B.(i7.B.(i)(a) exceed the lesser of two times (I) the limit of compensation set forth in section 401(a)(17) of the Code as in effect for the year in which the Termination Date occurs, or (II) Executive’s annualized compensation based upon the annual rate of pay for services to the Company for the calendar year prior to the calendar year in which the Termination Date occurs (adjusted for any increase during that year that was expected to continue indefinitely if Executive had not separated from service). If Executive’s severance pay as calculated under the first sentence of this Section 5.B.(i7.B.(i)(a) is limited by application of clause (I) or (II) of the second sentence of this Section 5.B.(i7.B.(i)(a), then the Company shall make an additional lump sum payment to Executive equal to the difference between (x) the amount payable to Executive under the first sentence of this Section 5.B.(i7.B.(i)(a) but for the application of clause (I) or (II) of the second sentence of this Section 5.B.(i7.B.(i)(a), and (y) the amount payable to Executive under the second sentence of this Section 5.B.(i7.B.(i)(a) as a result of the application of clause (I) or (II) of the second sentence of this Section 5.B.(i7.B.(i)(a). Such lump sum payment shall be a separate payment from the installment payments provided under this Section 5.B.(i7.B.(i)(a) and shall be paid to Executive on the Company’s first payroll date following the 60th day after the Termination Date but in no event later than 75 days after the Termination Date.

Base Salary Cash Severance. The Company shall pay to Executive an amount equal to one times Executive’s annualized base salary as of the Termination Date (or, if Executive’s resignation is for Good Reason because the Company materially reduced Executive’s base compensation, one times Executive’s annualized base salary as of immediately before such material reduction), less deductions and withholding required by law, payable in substantially equal installments in accordance with the Company’s regular payroll practices over the 12-month period immediately following the Termination Date; provided, however that any installments that otherwise would be payable within the 60-day period immediately following the Termination Date shall be delayed and payable with the installment that is payable on the Company’s first payroll date following the 60th day after the Termination Date. Notwithstanding anything above to the contrary, in no event will to the extent that the amount paid under the first sentence of this Section 5.B.(i) exceed exceeds the lesser of two times (I) the limit of compensation set forth in section 401(a)(17) of the Code as in effect for the year in which the Termination Date occurs, or (II) Executive’s annualized compensation based upon the annual rate of pay for services to the Company for the calendar year prior to the calendar year in which the Termination Date occurs (adjusted for any increase during that year that was expected to continue indefinitely if Executive had not separated from service). If Executive’s severance pay as calculated under ) (the first sentence of this Section 5.B.(i) is limited by application of clause (I) or (II) of the second sentence of this Section 5.B.(i“Excess Amount”), then the Company shall make an additional Excess Amount will be deducted from the installment payments described above in equal proportions from each payment and will be paid in separate lump sum payment to Executive equal to the difference between (x) the amount payable to Executive under the first sentence of this Section 5.B.(i) but for the application of clause (I) or (II) of the second sentence of this Section 5.B.(i), and (y) the amount payable to Executive under the second sentence of this Section 5.B.(i) as a result of the application of clause (I) or (II) of the second sentence of this Section 5.B.(i)Executive. Such lump sum payment of the Excess Amount shall be a separate payment from the installment payments provided under this Section 5.B.(i) and shall be paid to Executive on the Company’s first payroll date following the 60th day after the Termination Date but in no event later than 75 days two and one-half (2 ½) months after the Termination Date.

Base Salary Cash Severance. The Company shall pay to Executive an amount equal to one times Executive’s annualized base salary as of the Termination Date (or, if Executive’s resignation is for Good Reason because the Company materially reduced Executive’s base compensation, one times Executive’s annualized base salary as of immediately before such material reduction), less deductions and withholding required by law, payable in substantially equal installments in accordance with the Company’s regular payroll practices over the 12-month period immediately following the Termination Date; provided, however that any installments that otherwise would be payable within the 60-day period immediately following the Termination Date termination date shall be delayed and payable with the installment that is payable on the Company’s first payroll date following the 60th day after the Termination Date. Notwithstanding anything above to the contrary, in no event will to the extent that the amount paid under the first sentence of this Section 5.B.(i5.A.(i) exceed exceeds the lesser of two times (I) the limit of compensation set forth in section 401(a)(17) of the Code as in effect for the year in which the Termination Date occurs, or (II) Executive’s annualized compensation based upon the annual rate of pay for services to the Company for the calendar year prior to the calendar year in which the Termination Date occurs (adjusted for any increase during that year that was expected to continue indefinitely if Executive had not separated from service). If Executive’s severance pay as calculated under ) (the first sentence of this Section 5.B.(i) is limited by application of clause (I) or (II) of the second sentence of this Section 5.B.(i“Excess Amount”), then the Company shall make an additional Excess Amount will be deducted from the installment payments described above in equal proportions from each payment and will be paid in separate lump sum payment to Executive equal to the difference between (x) the amount payable to Executive under the first sentence of this Section 5.B.(i) but for the application of clause (I) or (II) of the second sentence of this Section 5.B.(i), and (y) the amount payable to Executive under the second sentence of this Section 5.B.(i) as a result of the application of clause (I) or (II) of the second sentence of this Section 5.B.(i)Executive. Such lump sum payment of the Excess Amount shall be a separate payment from the installment payments provided under this Section 5.B.(i5.A.(i) and shall be paid to Executive on the Company’s first payroll date following the 60th day after the Termination Date but in no event later than 75 days two and one-half (2 ½) months after the Termination Date.