Common use of Change In Control Separation Benefits Clause in Contracts

Change In Control Separation Benefits. (i) If, within sixty (60) days before or three hundred sixty five (365) days after a Change in Control, this Agreement terminates for the reasons set forth in Sections 5(e) or 5(f), then the Company will pay You all accrued but unpaid Base Salary through the termination date. In addition, upon Your “separation from service” (within the meaning of Code § 409A(a)(2)(A)(i)), the Company shall: (i) pay You a lump sum payment equal to two (2) times Your then current annual Base Salary, to be paid within thirty (30) days after the date of termination; (ii) pay You a lump sum payment of Three Hundred Thousand Twelve Dollars ($300,012.00), to be paid within thirty (30) days after the date of termination; (iii) reimburse Your and your eligible dependents’ COBRA premiums under the Company’s major medical group health plan on a monthly basis for the period during which You remain eligible for COBRA coverage and until You become eligible to participate in any subsequent employer’s major medical group health plan, up to a maximum of twenty-four (24) months; and (iv) notwithstanding anything to the contrary in any applicable documents evidencing a grant of an award under the Lodgian, Inc. 2002 Stock Incentive Plan or any similar plan, accelerate the vesting of any such awards granted to You by the Company (the “Award(s)”) so that any such Award(s) comprised of options to purchase Company stock shall be immediately exercisable in full, or so that all vesting restrictions upon any such Award(s) comprised of restricted stock shall lapse (collectively, the payments and benefits set forth in the preceding sub-clauses (i) – (iv) to be referred to as the “Change In Control Separation Benefits”). Your right to receive the Change In Control Separation Benefits shall be subject to Section 8 below and the Separation Benefits Conditions set forth in Section 6(b) above. The Change In Control Separation Benefits to be provided under this Section 7 shall constitute full satisfaction of the Company’s obligations under this Agreement, the Incentive Plan, any Company policy, or otherwise.

Change In Control Separation Benefits. (i) If, within sixty (60) days before or three hundred sixty five (365) days after a Change in Control, this Agreement terminates for the reasons set forth in Sections 5(e) or 5(f), then the Company will pay You all accrued but unpaid Base Salary through the termination date. In addition, upon Your “separation from service” (within the meaning of Code § 409A(a)(2)(A)(i)), the Company shall: (i) pay You a lump sum payment equal to two (2) times Your then current annual Base Salary, to be paid within thirty (30) days after the date of termination; (ii) pay You a lump sum payment of Three Hundred Thousand Twelve Dollars ($300,012.00), to be paid within thirty (30) days after the date of termination; (iii) reimburse Your and your eligible dependents’ COBRA premiums under the Company’s major medical group health plan on a monthly basis for the period during which You remain eligible for COBRA coverage and until You become eligible to participate in any subsequent employer’s major medical group health plan, up to a maximum of twenty-four (24) months; and (iv) notwithstanding anything to the contrary in any applicable documents evidencing a grant of an award under the Lodgian, Inc. 2002 Stock Incentive Plan or any similar plan, accelerate the vesting of any such awards granted to You by the Company (the “Award(s)”) so that any such Award(s) comprised of options to purchase Company stock shall be immediately exercisable in full, or so that all vesting restrictions upon any such Award(s) comprised of restricted stock shall lapse (collectively, the payments and benefits set forth in the preceding sub-clauses (i) – — (iv) to be referred to as the “Change In Control Separation Benefits”). Your right to receive the Change In Control Separation Benefits shall be subject to Section 8 below and the Separation Benefits Conditions set forth in Section 6(b) above. The Change In Control Separation Benefits to be provided under this Section 7 shall constitute full satisfaction of the Company’s obligations under this Agreement, the Incentive Plan, any Company policy, or otherwise.

Change In Control Separation Benefits. (i) If, within sixty (60) days before or three hundred sixty five (365) days after a Change in Control, this Agreement terminates for the reasons set forth in Sections 5(e) ), or 5(f), then the Company will pay You all accrued but unpaid Base Salary through the termination date. In addition, upon Your “separation from service” (within the meaning of Code § 409A(a)(2)(A)(i)), the Company shall: (i) pay You a lump sum payment equal to two (2) times Your then current annual Base Salary, to be paid within thirty (30) days after the date of termination; (ii) pay You a lump sum payment of Seventy Five Thousand Three Hundred Thousand Twelve Dollars ($300,012.0075,003.00), to be paid within thirty (30) days after the date of termination; (iii) reimburse Your and your Your eligible dependents’ COBRA premiums under the Company’s major medical group health plan on a monthly basis for the a period during which You remain eligible for COBRA coverage and until You become eligible to participate in any subsequent employer’s major medical group health plan, up to a maximum of twenty-four twelve (2412) months; and (iv) notwithstanding anything to the contrary in any applicable documents evidencing a grant of an award under the Lodgian, Inc. 2002 Stock Incentive Plan or any similar plan, accelerate the vesting of any such awards granted to You by the Company (the “Award(s)”) so that any such Award(s) comprised of options to purchase Company stock shall be immediately exercisable in full, or so that all vesting restrictions upon any such Award(s) comprised of restricted stock shall lapse (collectively, the payments and benefits set forth in the preceding sub-clauses (i) – (iv) to be referred to as the “Change In Control Separation Benefits”). Your right to receive the Change In Control Separation Benefits shall be subject to Section 8 below and the Separation Benefits Conditions set forth in Section 6(b) above. The Change In Control Separation Benefits to be provided under this Section 7 shall constitute full satisfaction of the Company’s obligations under this Agreement, the Incentive Plan, any Company policy, or otherwise.

Change In Control Separation Benefits. (i) If, within sixty (60) days before or three hundred sixty five (365) days after a Change in Control, this Agreement terminates for the reasons set forth in Sections 5(e) 4(e), or 5(f4(f), then the Company will pay You all accrued but unpaid Base Salary through the termination date. In addition, upon Your “separation from service” (within the meaning of Code § 409A(a)(2)(A)(i)), the Company shall: (i) pay You a lump sum payment equal to two (2) times Your then current annual Base Salary, to be paid within thirty (30) days after the date of termination; (ii) pay You a lump sum payment of Three Hundred Fifty Thousand Twelve Two Dollars ($300,012.0050,002.00), to be paid within thirty (30) days after the date of termination; (iii) reimburse Your and your Your eligible dependents’ COBRA premiums under the Company’s major medical group health plan on a monthly basis for the a period during which You remain eligible for COBRA coverage and until You become eligible to participate in any subsequent employer’s major medical group health plan, up to a maximum of twenty-four twelve (2412) months; and (iv) notwithstanding anything to the contrary in any applicable documents evidencing a grant of an award under the Lodgian, Inc. 2002 Stock Incentive Plan or any similar plan, accelerate the vesting of any such awards granted to You by the Company (the “Award(s)”) so that any such Award(s) comprised of options to purchase Company stock shall be immediately exercisable in full, or so that all vesting restrictions upon any such Award(s) comprised of restricted stock shall lapse (collectively, the payments and benefits set forth in the preceding sub-clauses (i) – — (iv) to be referred to as the “Change In Control Separation Benefits”). Your right to receive the Change In Control Separation Benefits shall be subject to Section 8 7 below and the Separation Benefits Conditions set forth in Section 6(b5(b) above. The Change In Control Separation Benefits to be provided under this Section 7 6 shall constitute full satisfaction of the Company’s obligations under this Agreement, the Incentive Plan, any Company policy, or otherwise.

Change In Control Separation Benefits. (i) If, within sixty (60) days before or three hundred sixty five (365) days after a Change in Control, this Agreement terminates for the reasons set forth in Sections 5(e6(d) or 5(f)6(e) below, then the Company will pay You all accrued but unpaid Base Salary through the termination date. In addition, upon Your “separation from service” (within the meaning of Code § 409A(a)(2)(A)(i)), the Company shall: (i) pay You a lump sum payment equal to two (2) times Your then current annual Base Salary, to be paid within thirty (30) days after the date of termination; (ii) pay You a lump sum payment of Seventy Five Thousand Three Hundred Thousand Twelve Dollars ($300,012.00), 75,003.00) to be paid within thirty (30) days after the date of termination; (iii) reimburse Your and your Your eligible dependents’ COBRA premiums under the Company’s major medical group health plan on a monthly basis for the a period during which You remain eligible for COBRA coverage and until You become eligible to participate in any subsequent employer’s major medical group health plan, up to a maximum of twenty-four twelve (2412) months; and (iv) notwithstanding anything to the contrary in any applicable documents evidencing a grant of an award under the Lodgian, Inc. 2002 Stock Incentive Plan or any similar plan, accelerate the vesting of any such awards granted to You by the Company (the “Award(s)”) so that any such Award(s) comprised of options to purchase Company stock shall be immediately exercisable in full, or so that all vesting restrictions upon any such Award(s) comprised of restricted stock shall lapse (collectively, the payments and benefits set forth in the preceding sub-clauses (i) – — (iv) to be referred to as the “Change In Control Separation Benefits”). Your right to receive the Change In Control Separation Benefits shall be subject to Section 8 5 below and the Separation Benefits Conditions set forth in Section 6(b3(b) above. The Change In Control Separation Benefits to be provided under this Section 7 4 shall constitute full satisfaction of the Company’s obligations under this Agreement, the Incentive Plan, any Company policy, or otherwise.