Common use of Event of Termination Without Change of Control Clause in Contracts

Event of Termination Without Change of Control. Upon the occurrence of an Event of Termination, other than after a Change of Control as provided in paragraph 7(c) hereof, and if Executive faithfully abides by all of the covenants contained in Section 9 of this Agreement, Employers shall pay to Executive, or in the event of his subsequent death, to his designated beneficiary or beneficiaries, or to his estate, as the case may be, as liquidated damages, in lieu of all other claims, a severance payment equal to one (1) times Executive's Total Compensation (defined as the sum of the then current Base Salary plus any Incentive Compensation paid to Executive during the immediately preceding twelve (12) months), to be paid in equal installments and in accordance with Employers' regular payroll practices for the twelve (12) month period following the date of said Event of Termination.

Event of Termination Without Change of Control. Upon the occurrence of an Event of Termination, other than after a Change of Control as provided in paragraph 7(c) hereof, and if Executive faithfully abides by all of the covenants contained in Section 9 of this Agreement, Employers Employer shall pay to Executive, or in the event of his subsequent death, to his designated beneficiary or beneficiaries, or to his estate, as the case may be, as liquidated damages, in lieu of all other claims, a severance payment equal to one (1) times Executive's Total Compensation (defined as the sum of the then current Base Salary plus any Incentive Compensation paid to Executive during the immediately preceding twelve (12) months), to be paid in equal installments and in accordance with Employers' Employer's regular payroll practices for the twelve (12) month period following the date of said Event of Termination.

Event of Termination Without Change of Control. Upon the occurrence of an Event of Termination, other than after a Change of Control as provided in paragraph 7(c) hereof, and if Executive faithfully abides by all of the covenants contained in Section 9 of this Agreement, Employers Employer shall pay to Executive, or in the event of his her subsequent death, to his her designated beneficiary or beneficiaries, or to his her estate, as the case may be, as liquidated damages, in lieu of all other claims, a severance payment equal to one (1) times Executive's Total Compensation (defined as the sum of the then current Base Salary plus any Incentive Compensation paid to Executive during the immediately preceding twelve (12) months), to be paid in equal installments and in accordance with Employers' Employer's regular payroll practices for the twelve (12) month period following the date of said Event of Termination.