Common use of Enhanced Severance Payments Clause in Contracts

Enhanced Severance Payments. You will be eligible for enhanced severance payments if your employment is transferred to the Successor as a result of the Transformation and your employment is then involuntarily terminated for reasons other than for cause by the Successor prior to the twelve (12) month anniversary date of the Transformation Closing Date. If your employment is terminated under these circumstances, you will be eligible for the greater of: (i) a total of fifty-two (52) weeks of your base pay in effect as of the date of your termination, or (ii) the severance payments under the applicable BMS severance plan in effect as of the date of your termination. If there are any severance payments available to you from the Successor, you will receive the difference between those severance payments and the severance payments available to you under this paragraph. Payments under this Paragraph 3 shall commence immediately after your Separation from Service and shall be payable at regular payroll intervals according to your pay schedule then in effect. The enhanced severance payments described above, if greater than those you would ordinarily have been entitled to, will be in lieu of, and not in addition to, the severance (if any) that would ordinarily have been payable to you under the terms of the applicable BMS Severance Plan or in any offer letter or other arrangement between you and BMS.

Enhanced Severance Payments. You will be eligible for enhanced severance payments if your employment is transferred to the Successor as a result of the Transformation and your employment is then involuntarily terminated for reasons other than for cause by the Successor prior to the twelve eighteen (1218) month anniversary date of the Transformation Closing Date. If your employment is terminated under these circumstances, you will be eligible for the greater of: (i) a total of fifty-two eighteen (5218) weeks months of your base pay in effect as of the date of your terminationtermination by the Successor, or (ii) the severance payments under the applicable BMS severance plan in effect as of the date of your terminationtermination by the Successor. If there are any severance payments available to you from the Successor, you will receive the difference between greater of those severance payments and or the severance payments available to you under this paragraph, but not both. Payments under this Paragraph 3 shall commence immediately after your Separation from Service by the Successor and shall be payable at regular payroll intervals according to your pay schedule then in effect. The enhanced severance payments described above, if greater than those you would ordinarily have been entitled to, will be in lieu of, and not in addition to, the severance (if any) that would ordinarily have been payable to you under the terms of the applicable BMS Severance Plan or in any offer letter or other arrangement between you and BMS.. Paragraph 4 of the Letter Agreement is hereby amended in its entirety to read as follows: