Common use of Consulting Fees; Reimbursement of Expenses Clause in Contracts

Consulting Fees; Reimbursement of Expenses. In consideration of the Employee's agreement to provide consulting services hereunder, the Employer shall pay the Employee, not less than 5 days following an Involuntary Termination, a lump sum consulting fee payment equal to the product of (A) the Employee's base salary in effect immediately prior to his Date of Termination (without taking into account any salary reduction that gave rise to Good Reason), and (B) the number of years in the Consulting Period, as determined pursuant to paragraph II (a)(i) above. In addition, the Employee shall be reimbursed for all expenses reasonably incurred by him in connection with the performance of his consulting services hereunder. The Employee shall not be entitled to benefits under any other severance pay plan or arrangement sponsored by the Employer and its subsidiaries in the event of an Involuntary Termination during the Covered Period, and any amounts payable to him under any statutory severance policy shall reduce the aggregate amount of the consulting fees payable hereunder. In addition, in the event of the Employee's Involuntary Termination, the Employer shall pay him within 5 days of the date of such Involuntary Termination the full amount of any earned but unpaid base salary through the Date of Termination at the rate in effect at the time of the Notice of Termination, plus a cash payment for all unused vacation time which he may have accrued as of the Date of Termination. The Employer shall also pay the Employee within 5 days of the Date of Termination a pro rata portion of his projected annual bonus for the year in which his Involuntary Termination occurs, calculated on the basis of his target bonus for that year.

Consulting Fees; Reimbursement of Expenses. In consideration of the Employee's agreement to provide consulting services hereunder, the Employer shall pay the Employee, not less than 5 days following an Involuntary Termination, a lump sum consulting fee payment equal to the product of (A) the Employee's base salary in effect immediately prior to his Date of Termination (without taking into account any salary reduction that gave rise to Good Reason), and (B) the number of years in the Consulting Period, as determined pursuant to paragraph II 11 (a)(ia)(1) above. In in addition, the Employee shall be reimbursed for all expenses reasonably incurred by him in connection with the performance of his consulting services hereunder. The Employee shall not be entitled to benefits under any other severance pay plan or arrangement sponsored by the Employer and its subsidiaries in the event of an Involuntary Termination during the Covered Period, and any amounts payable to him under any statutory severance policy shall reduce the aggregate amount of the consulting fees payable hereunder. In addition, in the event of the Employee's Involuntary Termination, the Employer shall pay him within 5 days of the date of such Involuntary Termination the full amount of any earned but unpaid base salary through the Date of Termination at the rate in effect at the time of the Notice of Termination, plus a cash payment for all unused vacation time which he may have accrued as of the Date of Termination. The Employer shall also pay the Employee within 5 days of the Date of Termination a pro rata portion of his projected annual bonus for the year in which his Involuntary Termination occurs, calculated on the basis of his target bonus for that year.

Consulting Fees; Reimbursement of Expenses. In consideration of the Employee's agreement to provide consulting services hereunder, the Employer shall pay the Employee, not less than 5 days following an Involuntary Termination, a lump sum consulting fee payment equal to the product of (A) the Employee's base salary in effect immediately prior to his Date of Termination (without taking into account any salary reduction that gave rise to Good Reason), and (B) the number of years in the Consulting Period, as determined pursuant to paragraph II (a)(i11(a)(i) above. In addition, the Employee shall be reimbursed for all expenses reasonably incurred by him in connection with the performance of his consulting services hereunder. The Employee shall not be entitled to benefits under any other severance pay plan or arrangement sponsored by the Employer and its subsidiaries in the event of an Involuntary Termination during the Covered Period, and any amounts payable to him under any statutory severance policy shall reduce the aggregate amount of the consulting fees payable hereunder. In addition, in the event of the Employee's Involuntary Termination, the Employer shall pay him within 5 days of the date of such Involuntary Termination the full amount of any earned but unpaid base salary through the Date of Termination at the rate in effect at the time of the Notice of Termination, plus a cash payment for all unused vacation time which he may have accrued as of the Date of Termination. The Employer shall also pay the Employee within 5 days of the Date of Termination a pro rata portion of his projected annual bonus for the year in which his Involuntary Termination occurs, calculated on the basis of his target bonus for that year.

Consulting Fees; Reimbursement of Expenses. In consideration of the Employee's agreement to provide consulting services hereunder, the Employer shall pay the Employee, not less than 5 days following an Involuntary Termination, a lump sum consulting fee payment equal to the product of (A) the Employee's base salary in effect immediately prior to his Date of Termination (without taking into account any salary reduction that gave rise to Good Reason), and (B) the number of years in the Consulting Period, as determined pursuant to paragraph II I 1 (a)(i) above. In addition, the Employee shall be reimbursed for all expenses reasonably incurred by him in connection with the performance of his consulting services hereunder. The Employee shall not be entitled to benefits under any other severance pay plan or arrangement sponsored by the Employer and its subsidiaries in the event of an Involuntary Termination during the Covered Period, and any amounts payable to him under any statutory severance policy shall reduce the aggregate amount of the consulting fees payable hereunder. In addition, in the event of the Employee's Involuntary Termination, the Employer shall pay him within 5 days of the date of such Involuntary Termination the full amount of any earned but unpaid base salary through the Date of Termination at the rate in effect at the time of the Notice of Termination, plus a cash payment for all unused vacation time which he may have accrued as of the Date of Termination. The Employer shall also pay the Employee within 5 days of the Date of Termination a pro rata portion of his projected annual bonus for the year in which his Involuntary Termination occurs, calculated on the basis of his target bonus for that year.