Common use of Executive Severance Benefits Clause in Contracts

Executive Severance Benefits. Subject to Sections 3(C), 3(D), 3(E) and 4(D)(ii) hereof, in the event of Executive's Involuntary Termination or Good Reason Termination, Company shall (a) pay for outplacement services for Executive of the type customarily provided by Company to senior executives at the time of Executive's Involuntary Termination or Good Reason Termination; (b) during the thirty (30) months starting on Date of Termination, continue to provide executive life insurance that is equivalent to the coverage that Company provides on behalf of similarly situated executives employed by Company; and (c) shall pay executive an amount equal to the greater of: Revised March 5, 2001 7 8 (i) two (2) times Executive's Annual Compensation; or

Executive Severance Benefits. Subject to Sections 3(C), 3(D), 3(E) and 4(D)(ii) hereof, in the event of Executive's Involuntary Termination or Good Reason Termination, Company shall (a) pay for outplacement services for Executive of the type customarily provided by Company to senior executives at the time of Executive's Involuntary Termination or Good Reason Termination; (b) during the thirty (30) months starting on Date of Termination, continue to provide executive life insurance that is equivalent to the coverage that Company provides on behalf of similarly situated executives employed by Company; and (c) shall pay executive an amount equal to the greater of: Revised March 5, 2001 7 8 (i) two (2) times Executive's Annual Compensation; or: