Common use of Effect Of Termination Following a Change of Control Clause in Contracts

Effect Of Termination Following a Change of Control. Notwithstanding any other provision in this Agreement to the contrary, following a Change in Control as defined in Section 6 hereof, (a) if Executive chooses to terminate his employment without Good Reason pursuant to Section 5(b) hereof, such termination shall be treated as termination under Section 5(c) hereof; (b) if Employer (or its successor) terminates Executive’s employment without Cause pursuant to Section 5(b) hereof, such termination shall be treated as a termination under Section 5(d) hereof, except that Executive shall receive Base Compensation and benefits for the “Payout Period” (as defined below). For the purposes of this Agreement, “Payout Period” shall mean two (2) years and includes Base Compensation for each year, bonus (equal to 33 % of Base Compensation, times 2 years) and benefits. If a Change in Control as defined in Section 6 occurs within 6 months after Executive has been terminated Without Cause or For Good Reason, then termination shall be treated as a termination following a Change of Control, and Executive shall receive Base Compensation, bonus and benefits as defined by the “Payout Period”.

Effect Of Termination Following a Change of Control. Notwithstanding any other provision in this Agreement to the contrary, following a Change in Control as defined in Section 6 hereof, (a) if Executive chooses to terminate his employment without Good Reason pursuant to Section 5(b) hereof, such termination shall be treated as termination under Section 5(c) hereof; (b) if Employer (or its successor) terminates Executive’s employment without Cause pursuant to Section 5(b) hereof, such termination shall be treated as a termination under Section 5(d) hereof, except that Executive shall receive Base Compensation and benefits for the “Payout Period” (as defined below). For the purposes of this Agreement, “Payout Period” shall mean two three (23) years and includes Base Compensation for each year, bonus (equal to 33 % of Base Compensation, times 2 3 years) and benefits. If a Change in Control as defined in Section 6 occurs within 6 months after Executive has been terminated Without Cause or For Good Reason, then termination shall be treated as a termination following a Change of Control, and Executive shall receive Base Compensation, bonus and benefits as defined by the “Payout Period”.

Effect Of Termination Following a Change of Control. Notwithstanding any other provision in this Agreement to the contrary, following a Change in Control as defined in Section 6 hereof, (a) if Executive chooses to terminate his employment without Good Reason pursuant to Section 5(b) hereof, such termination shall be treated as termination under Section 5(c) hereof; (b) if Employer (or its successor) terminates Executive’s 's employment without Cause pursuant to Section 5(b) hereof, such termination shall be treated as a termination under Section 5(d) hereof, except that Executive shall receive Base Compensation and benefits for the “"Payout Period” " (as defined below). For the purposes of this Agreement, “"Payout Period” " shall mean two the greater of eighteen (218) years and includes Base Compensation for each year, bonus (equal to 33 % months or the remainder of Base Compensation, times 2 years) and benefitsthe Term. If a Change in Control as defined in Section 6 occurs within 6 months after Executive has been terminated Without Cause or For Good Reason, then termination shall be treated as a termination following a Change of Control, and Executive shall receive Base Compensation, bonus Compensation and benefits as defined by the “"Payout Period”".

Effect Of Termination Following a Change of Control. Notwithstanding any other provision in this Agreement to the contrary, following a Change in Control as defined in Section 6 hereof, (a) if Executive chooses to terminate his employment without Good Reason pursuant to Section 5(b) hereof, such termination shall be treated as termination under Section 5(c) hereof; (b) if Employer (or its successor) terminates Executive’s 's employment without Cause pursuant to Section 5(b) hereof, such termination shall be treated as a termination under Section 5(d) hereof, except that Executive shall receive Base Compensation and benefits for the “Payout Period” (as defined below). For the purposes of this Agreement, “Payout Period” shall mean two (2) years 18 months and includes Base Compensation for each yearCompensation, bonus (equal to 33 % of Base Compensation, times 2 years1 year) and benefits. If a Change in Control as defined in Section 6 occurs within 6 months after Executive has been terminated Without Cause or For Good Reason, then termination shall be treated as a termination following a Change of Control, and Executive shall receive Base Compensation, bonus and benefits as defined by the “Payout Period”.

Effect Of Termination Following a Change of Control. Notwithstanding any other provision in this Agreement to the contrary, following a Change in Control as defined in Section 6 hereof, (a) if Executive chooses to terminate his employment without Good Reason pursuant to Section 5(b) hereof, such termination shall be treated as termination under Section 5(c) hereof; (b) if Employer (or its successor) terminates Executive’s 's employment without Cause pursuant to Section 5(b) hereof, such termination shall be treated as a termination under Section 5(d) hereof, except that Executive shall receive Base Compensation and benefits for the “Payout Period” (as defined below). For the purposes of this Agreement, “Payout Period” shall mean two (2) years 24 months and includes Base Compensation for each year, bonus (equal to 33 % of Base Compensation, times 2 years) and benefits. If a Change in Control as defined in Section 6 occurs within 6 months after Executive has been terminated Without Cause or For Good Reason, then termination shall be treated as a termination following a Change of Control, and Executive shall receive Base Compensation, bonus and benefits as defined by the “Payout Period”.

Effect Of Termination Following a Change of Control. Notwithstanding any other provision in this Agreement to the contrary, following a Change in Control as defined in Section 6 hereof, (a) if Executive chooses to terminate his employment without Good Reason pursuant to Section 5(b) hereof, such termination shall be treated as termination under Section 5(c) hereof; (b) if Employer (or its successor) terminates Executive’s employment without Cause pursuant to Section 5(b) hereof, such termination shall be treated as a termination under Section 5(d) hereof, except that Executive shall receive Base Compensation and benefits for the “Payout Period” (as defined below). For the purposes of this Agreement, “Payout Period” shall mean two (2) years 12 months and includes Base Compensation for each yearCompensation, bonus (equal to 33 % of Base Compensation, times 2 years1 year) and benefits. If a Change in Control as defined in Section 6 occurs within 6 months after Executive has been terminated Without Cause or For Good Reason, then termination shall be treated as a termination following a Change of Control, and Executive shall receive Base Compensation, bonus and benefits as defined by the “Payout Period”.