Common use of Certain Severance Payments Clause in Contracts

Certain Severance Payments. If during the Term the Company terminates this Agreement pursuant to Section 5(b)(ii) hereof, all compensation payable to the Executive under Section 4 hereof shall cease as of the date of termination specified in the Company’s notice (the “Termination Date”), and the Company shall pay to the Executive, subject to Section 6 hereof, an amount equal to the Base Salary for six (6) months, payable in a lump sum on the Termination Date, and all previously earned, accrued, and unpaid benefits from the Company and its employee benefit plans, including any such benefits under the Company’s pension, disability, and life insurance plans, policies, and programs. Notwithstanding the foregoing, if the Executive has violated Section 6 hereof, then the Company shall have no obligation to make the foregoing payments. The payment of severance as required by this Section 5(a) may be conditioned by the Company on the delivery by the Employee of a release of any and all claims that the Employee may have against the Company which release shall be in form and substance satisfactory to the Company.

Certain Severance Payments. If during the Term the Company terminates this Agreement pursuant to Section 5(b)(ii4(b)(ii) hereof, all compensation payable to the Executive under Section 4 3 hereof shall cease as of the date of termination specified in the Company’s notice (the “Termination Date”), and the Company shall pay to the Executive, subject to Section 6 hereof, an amount equal to the Base Salary for six three (63) months, payable in a lump sum on the Termination Date, and all previously earned, accrued, and unpaid benefits from the Company and its employee benefit plans, including any such benefits under the Company’s pension, disability, and life insurance plans, policies, and programs. Notwithstanding the foregoing, if the Executive has violated Section 6 hereof, then the Company shall have no obligation to make the foregoing payments. The payment of severance as required by this Section 5(a) may be conditioned by the Company on the delivery by the Employee of a release of any and all claims that the Employee may have against the Company which release shall be in form and substance satisfactory to the Company.

Certain Severance Payments. If during the Term the Company terminates this Agreement pursuant to Section 5(b)(ii4(d) hereof, all compensation payable to the Executive Employee under Section 4 3 hereof shall cease as of the date of termination specified in the Company’s notice (the “Termination Date”), and the Company shall pay to the ExecutiveEmployee, subject to Section 6 hereof, an amount equal to the Base Salary for six three (63) months, payable in a lump sum on the Termination Date, and all previously earned, accrued, and unpaid benefits from the Company and its employee benefit plans, including any such benefits under the Company’s pension, disability, and life insurance plans, policies, and programs. Notwithstanding the foregoing, if the Executive Employee has violated Section 6 hereof, then the Company shall have no obligation to make the foregoing payments. The payment of severance as required by this Section 5(a) may be conditioned by the Company on the delivery by the Employee of a release of any and all claims that the Employee may have against the Company which release shall be in form and substance satisfactory to the Company.