Common use of Cash Severance Benefit Clause in Contracts

Cash Severance Benefit. Subject to Section 4, if the Company terminates your employment without Cause (as defined below) on or before August 1, 2021, the Company shall pay to you in a single payment an amount in cash equal to a percentage of your annual base salary in effect on the date of termination determined as follows: 100% of your salary if your date of termination is on or before August 1, 2017, 80% of your salary if your date of termination is on or before August 1, 2018, 60% of your salary if your date of termination is on or before August 1, 2019, 40% of your salary if your date of termination is on or before August 1, 2020, and 20% of your salary if your date of termination is on or before August 1, 2021.

Cash Severance Benefit. Subject to Section 4, if the Company terminates your employment without Cause (as defined below) on or before August 1May 17, 20212022, the Company shall pay to you in a single payment an amount in cash equal to a percentage of your annual base salary in effect on the date of termination determined as follows: 100% of your salary if your date of termination is on or before August 1May 17, 20172018, 80% of your salary if your date of termination is on or before August 1May 17, 20182019, 60% of your salary if your date of termination is on or before August 1May 17, 20192020, 40% of your salary if your date of termination is on or before August 1May 17, 20202021, and 20% of your salary if your date of termination is on or before August 1May 17, 20212022.

Cash Severance Benefit. Subject to Section 4, if the Company terminates your employment without Cause (as defined below) on or before August 1June 30, 20212020, the Company shall pay to you in a single payment an amount in cash equal to a percentage of your annual base salary in effect on the date of termination determined as follows: 100% of your salary if your date of termination is on or before August 1June 30, 20172016, 80% of your salary if your date of termination is on or before August 1June 30, 20182017, 60% of your salary if your date of termination is on or before August 1June 30, 20192018, 40% of your salary if your date of termination is on or before August 1June 30, 20202019, and 20% of your salary if your date of termination is on or before August 1June 30, 20212020.