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

Effect of Termination Following Change in Control. If, within the six-month period prior to or within 12 months following a Change in Control (as defined below), Executive becomes no longer employed by the Company or its acquiror or successor or any affiliate thereof as a result of a termination of Executive’s employment either as a Termination Without Cause or a Termination For Good Reason, Executive shall be entitled to receive (i) the payments and other rights provided in Section 7(c) hereof and (ii) a lump sum cash severance payment, paid within 15 days after the later of the date of termination or the date of the Change in Control, equal to the sum of Executive’s monthly base salary (as in effect immediately prior to such termination) and the Pro‑Rata Bonus Amount (as defined below) multiplied by 12, but discounted to present value from the dates such payments would be made if paid on a monthly basis for such 12-month period, based on the 100% short‑term Applicable Federal Rate (compounded annually) under Section 1274(d) of the Internal Revenue Code of 1986, as amended (the “Code”), as in effect at the time of payment.

Effect of Termination Following Change in Control. IfIn the event of a Change in Control (as such term is defined below) during the Term, and a termination of Executive's employment, either as a Termination Without Cause or Termination For Good Reason, occurring either within the six-month period six months prior to or within 12 months following a such Change in Control (as defined below)Control, Executive becomes no longer employed by whether or not such termination is during the Company or its acquiror or successor or any affiliate thereof as a result of a termination of Executive’s employment either as a Termination Without Cause or a Termination For Good ReasonTerm, Executive shall be entitled to receive (i) the payments and other rights provided in Section 7(c) hereof and (ii) a lump sum cash severance payment, paid within 15 days after the later of the date of termination or the date of the Change in Controltermination, equal to the sum of Executive’s 's monthly base salary (as in effect immediately prior to such termination) and the Pro‑Rata Pro-Rata Bonus Amount (as defined belowdetermined under Section 7(c)(iv) above) multiplied by 1224, but discounted to present value from the dates such payments would be made if paid on a monthly basis for such 1224-month period, based on the 100% short‑term short-term Applicable Federal Rate (compounded annually) under Section 1274(d) of the Internal Revenue Code of 1986, as amended (the “"Code”"), as in effect at the time of payment.