Common use of Change in Control Severance Benefit Clause in Contracts

Change in Control Severance Benefit. If the Company, or any related entity or successor entity terminates the Employee's employment in anticipation of a reorganization or a "Change in Control", or if the Company, or any related entity or any successor entity terminates the Employee's employment following a Change in Control for any other reasons without "Cause", or if the Employee's employment is "constructively terminated" as defined in Section 8, the Employee shall receive a payment equal to the Employee's Base Compensation for a period of six (6) months. Both the Basic Severance Benefit and a Change in Control Severance Benefit shall solely be paid to the Employee in a single lump sum payment. In either case, the applicable severance benefit shall not be paid until eight days after receipt of an executed copy of a General Release by the Company, as provided in Section 3. Severance benefit payments shall also be reduced to the extent of any advance payments, for any excess expense reimbursements, and for any amounts owed to the Company by the Employee (other than normal personal residence, home equity and similar loans). In the event of the death of the Employee after the commencement of entitlement to any severance benefit payable under Section 4, all benefits shall be paid in a lump sum to the Employee's spouse, or if no spouse exists, to the Employee's estate. Notwithstanding any interpretation to the contrary, in no event shall the Employee be entitled to both the Basic Severance Benefit and the Change in Control Severance Benefit.

Change in Control Severance Benefit. If the Company, or any related entity or successor entity terminates the Employee's ’s employment in anticipation of a reorganization or a "“Change in Control"”, or if the Company, or any related entity or any successor entity terminates the Employee's ’s employment following a Change in Control for any other reasons without "“Cause"”, or if the Employee's ’s employment is "“constructively terminated" ” as defined in Section 8, the Employee shall receive a payment equal to the Employee's ’s Base Compensation for a period of six (6) months. Both the Basic Severance Benefit and a Change in Control Severance Benefit shall solely be paid to the Employee in a single lump sum payment. In either case, the applicable severance benefit shall not be paid until eight days after receipt of an executed copy of a General Release by the Company, as provided in Section 3. Severance benefit payments shall also be reduced to the extent of any advance payments, for any excess expense reimbursements, and for any amounts owed to the Company by the Employee (other than normal personal residence, home equity and similar loans). In the event of the death of the Employee after the commencement of entitlement to any severance benefit payable under Section 4, all benefits shall be paid in a lump sum to the Employee's ’s spouse, or if no spouse exists, to the Employee's ’s estate. Notwithstanding any interpretation to the contrary, in no event shall the Employee be entitled to both the Basic Severance Benefit and the Change in Control Severance Benefit.

Change in Control Severance Benefit. If the Company, or any related entity or successor entity terminates the Employee's employment in anticipation of a reorganization or a "Change in Control", or if the Company, or any related entity or any successor entity terminates the Employee's employment following a Change in Control for any other reasons without "Cause", or if the Employee's employment is "constructively terminated" as defined in Section 8, the Employee shall receive a payment equal to the Employee's Base Compensation Salary for a period of six (6) 36 months. Both the Basic Severance Benefit and a Change in Control Severance Benefit All severance benefits shall solely be paid to in accordance with the Employee Company's normal payroll practices or in a single lump sum payment, within the discretion of the Company. In either caseHowever, the applicable severance benefit shall not be paid until eight after 8 days after receipt of an executed copy of a General Release by the Company as provided in Section 3 and the return of all property to the Company, as provided in Section 310. Severance benefit payments benefits shall also be reduced to the extent of any advance payments, for any excess expense reimbursements, and for any amounts owed to the Company by the Employee (other than normal personal residence, home equity and similar loans). In the event of the death of the Employee after the commencement of entitlement to any severance benefit payable under Section 4, all benefits shall be paid in a lump sum to the Employee's spouse, or if no spouse exists, to the Employee's estate. Notwithstanding any interpretation to the contrary, in no event shall the Employee be entitled to both the Basic Severance Benefit and the Change in Control Severance Benefit.Severance