Common use of Extended Severance Clause in Contracts

Extended Severance. The Company shall pay to the Executive an amount of cash severance (the "Extended Severance") equal to one-half of the product of the Multiplier times the sum of (1) the Executive's Base Salary and (2) the Executive's Target Bonus. Such Extended Severance will be paid to the Executive in cash in equal monthly installments over the Installment Period immediately following the Date of Termination, with the first such monthly payment being due on the first business day of the calendar month that begins at least 30 days after the Date of Termination, and each subsequent monthly installment being due on the first business day of each calendar month thereafter. Notwithstanding the foregoing, the Executive shall be entitled to only that portion of the Extended Severance that exceeds the amount of pre-tax compensation otherwise earned by the Executive for services that he or she renders during the Installment Period immediately following the Date of Termination, whether as an employee or independent contractor, and the Executive will provide the Company with copies of his or her Form W-2 or Form 1099, or other similar documentation, upon the reasonable request of the Company. In the event of a Change in Control as defined in subsection 1(c)(i), the Executive's provision of such documentation to the Company shall be a condition to the Executive's right to receive the Extended Severance.

Extended Severance. The Company shall pay to the Executive an amount of cash severance (the "Extended Severance") equal to one-half of the product of the Multiplier times the sum of (1) the Executive's Base Salary and (2) the Executive's Target Bonus. Such Extended Severance will be paid to the Executive in cash in equal monthly installments over the Installment Period immediately following the Date of Termination, with the first such monthly payment being due on the first business day of the calendar month that begins at least 30 days after the Date of Termination, and each subsequent monthly installment being due on the first business day of each calendar month thereafter. Notwithstanding the foregoing, the Executive shall be entitled to only that portion of the Extended Severance that exceeds the amount of pre-tax compensation otherwise earned by the Executive for services that he or she renders during the Installment Period immediately following the Date of Termination, whether as an employee or independent contractor, and the Executive will provide the Company with copies of his or her Form W-2 or Form -9- 1099, or other similar documentation, upon the reasonable request of the Company. In the event of a Change in Control as defined in subsection 1(c)(i), the Executive's provision of such documentation to the Company shall be a condition to the Executive's right to receive the Extended Severance.