Common use of During the Transition Period Clause in Contracts

During the Transition Period. During the Transition Period, in lieu of payment of a Base Salary, Company will pay or cause to be paid to Executive in cash, in periodic installments not less frequently than monthly, an amount equal to $500,000 (the "Transition Payment") for each year of the Transition Period; provided, however, that Company's obligation to pay such Transition Payment during the Transition Period shall terminate immediately upon any breach by Executive of his duties under SECTION 3(B) or of the restrictive covenant provisions of SECTION 12. Notwithstanding such cessation of payment upon a breach of the restrictive covenant provisions of SECTION 12, Company shall retain the right to fully enforce the restrictive covenant provisions. In the event that a Change of Control occurs after the Transition Period has commenced, the aggregate amount of the unpaid Transition Payment payable for the period measured from the date of the Change of Control through the end of the Transition Period will be paid to Executive by Company in a single sum payment on the date that the Change of Control occurs, but Executive's obligations under SECTION 3(B) shall remain intact and Company shall retain the right to fully enforce the restrictive covenant provisions of SECTION 12. In the event that the Transition Period commences on or after a Change of Control (as defined in SECTION 10(C)) as a result of a termination of employment under the circumstances described in SECTION 10(C), Executive shall receive the amounts and benefits set forth in SECTION 10(C) in lieu of the amounts set forth in this SECTION 4(B), but Executive's obligations under SECTION 3(B) shall remain intact and Company shall retain the right to fully enforce the restrictive covenant provisions of SECTION 12.

During the Transition Period. During the Transition Period, in lieu of payment of a Base Salary, Company will pay or cause to be paid to Executive in cash, in periodic installments not less frequently than monthly, an amount equal to $500,000 200,000 (the "“Transition Payment"”) for each year of the Transition Period; provided, however, that Company's ’s obligation to pay such Transition Payment during the Transition Period shall terminate immediately upon any failure by Executive to perform his duties under Section 3(b) or any breach by Executive of his duties under SECTION 3(B) or of the restrictive covenant provisions of SECTION Section 12. Notwithstanding such cessation of payment upon a breach of the restrictive covenant provisions of SECTION Section 12, Company shall retain the right to fully enforce the restrictive covenant provisions. In the event that a Change of Control occurs after the Transition Period has commenced, the aggregate amount of the unpaid Transition Payment payable for the period measured from the date of the Change of Control through the end of the Transition Period will be paid to Executive by Company in a single lump sum payment on the date that the Change of Control occurs, but Executive's ’s obligations under SECTION 3(BSection 3(b) shall remain intact and Company shall retain the right to fully enforce the restrictive covenant provisions of SECTION Section 12. In the event that the Transition Period commences on or after a Change of Control (as defined in SECTION 10(CSection 10(c)) as a result of a termination of employment under the circumstances described in SECTION 10(CSection 10(c), Executive shall receive the amounts and benefits set forth in SECTION 10(CSection 10(c) in lieu of the amounts set forth in this SECTION 4(BSection 4(b), but Executive's ’s obligations under SECTION 3(BSection 3(b) shall remain intact and Company shall retain the right to fully enforce the restrictive covenant provisions of SECTION Section 12.

During the Transition Period. During the Transition Period, in lieu of payment of a Base Salary, Company will pay or cause to be paid to Executive in cash, in periodic installments not less frequently than monthly, an amount equal to $500,000 (the "“Transition Payment"”) for each year of the Transition Period; provided, however, that Company's ’s obligation to pay such Transition Payment during the Transition Period shall terminate immediately upon any failure by Executive to perform his duties under Section 3(b) after written notice and an opportunity to cure of not less than 30 days or any breach by Executive of his duties under SECTION 3(B) or of the restrictive covenant provisions of SECTION Section 12. Notwithstanding such cessation of payment upon a breach of the restrictive covenant provisions of SECTION Section 12, Company shall retain the right to fully enforce the restrictive covenant provisions. In the event that a Change of Control occurs after the Transition Period has commenced, the aggregate amount of the unpaid Transition Payment payable for the period measured from the date of the Change of Control through the end of the Transition Period will be paid to Executive by Company in a single lump sum payment on the date that the Change of Control occurs, but Executive's ’s obligations under SECTION 3(BSection 3(b) shall remain intact and Company shall retain the right to fully enforce the restrictive covenant provisions of SECTION Section 12. In the event that the Transition Period commences on or after a Change of Control (as defined in SECTION 10(CSection 10(c)) as a result of a termination of employment under the circumstances described in SECTION 10(CSection 10(c), Executive shall receive the amounts and benefits set forth in SECTION 10(CSection 10(c) in lieu of the amounts set forth in this SECTION 4(BSection 4(b), but Executive's ’s obligations under SECTION 3(BSection 3(b) shall remain intact and Company shall retain the right to fully enforce the restrictive covenant provisions of SECTION Section 12.

During the Transition Period. During the Transition Period, in lieu of payment of a Base Salary, Company will pay or cause to be paid to Executive in cash, in periodic installments not less frequently than monthly, an amount equal to $500,000 250,000 (the "Transition Payment") for each year of the Transition Period; provided, however, that Company's obligation to pay such Transition Payment during the Transition Period shall terminate immediately upon any breach by Executive of his duties under SECTION 3(B) or of the restrictive covenant provisions of SECTION 12. Notwithstanding such cessation of payment upon a breach of the restrictive covenant provisions of SECTION 12, Company shall retain the right to fully enforce the restrictive covenant provisions. In the event that a Change of Control occurs after the Transition Period has commenced, the aggregate amount of the unpaid Transition Payment payable for the period measured from the date of the Change of Control through the end of the Transition Period will be paid to Executive by Company in a single sum payment on the date that the Change of Control occurs, but Executive's obligations under SECTION 3(B) shall remain intact and Company shall retain the right to fully enforce the restrictive covenant provisions of SECTION 12. In the event that the Transition Period commences on or after a Change of Control (as defined in SECTION 10(C)) as a result of a termination of employment under the circumstances described in SECTION 10(C), Executive shall receive the amounts and benefits set forth in SECTION 10(C) in lieu of the amounts set forth in this SECTION 4(B), but Executive's obligations under SECTION 3(B) shall remain intact and Company shall retain the right to fully enforce the restrictive covenant provisions of SECTION 12.