Common use of Enhanced Severance Payments Clause in Contracts

Enhanced Severance Payments. The Company shall pay Executive an additional sum of (a) fifty percent (50%) of Executive’s then-current annual Base Salary; (b) fifty percent (50%) of the amount of the annual incentive Bonus target (excluding any commission targets) for the calendar year immediately preceding the calendar year in which Executive’s Termination Date occurs or for the calendar year in which Executive’s Termination Date occurs, whichever is greater; (c) in lieu of continuing to provide life or disability insurance for Executive, eighteen (18) times the monthly premium or premiums for disability and life insurance coverage of Executive paid by the Company immediately before Executive’s Termination Date; and (d) an additional six (6) months of COBRA Benefits described in Section 7.2(c)(ii) (collectively, the “Enhanced Severance Payments”). The Enhanced Severance Payments shall commence in accordance with Section 7.4(c), Section 7.4(d) and Section 7.9, and shall be commence immediately following the last payment of Standard Termination Payments to Executive and be made in thirteen (13) installment payments in accordance with the Company’s regular bi-weekly paydays, or if different, in accordance with the Company’s customary payroll practices.

Enhanced Severance Payments. The In addition to the Severance Benefits described in section 7.2, the Company shall will pay Executive an additional sum of equal to (a) fifty percent six (50%6) months of Executive’s then-current annual Base Salary; (b) fifty one hundred percent (50100%) of the amount of the annual incentive Bonus Incentive Compensation target (excluding any commission targets) for the calendar year immediately preceding the calendar year in which Executive’s Termination Date occurs or for the calendar year in which Executive’s Termination Date occurs, whichever is greater; (c) in lieu of continuing to provide life or disability insurance for Executive, eighteen twelve (1812) times the monthly premium or premiums for disability and life insurance coverage of Executive paid by the Company immediately before Executive’s Termination Date; and (d) an additional six (6) months of COBRA Benefits described in Section 7.2(c)(ii) (collectively, the “Enhanced Severance Payments”). The Enhanced Severance Payments shall will commence in accordance with Section 7.4(c), Section 7.4(d) and Section 7.9, and shall will be commence immediately following the last payment of Standard Termination Payments to Executive and be made in thirteen (13) equal installment payments in accordance with the Company’s regular bi-weekly paydays, or if different, in accordance with the Company’s customary payroll practices.