Common use of General Severance Allowance Clause in Contracts

General Severance Allowance. In consideration for the release by Former Employee set forth herein (including the release of any and all claims Former Employee has or may have under the Age Discrimination in Employment Act (“ADEA”)) and Former Employee’s performance of his obligations under this Agreement (including but not limited to Former Employee’s obligations under Section 7 hereof), Former Employee is entitled to receive, and Tekelec shall pay to Former Employee, a General Severance Allowance in the aggregate gross amount of $877,500 payable in 18 equal monthly installments of $48,750 each, less all applicable withholding taxes, beginning on the date that is ten days after the Effective Date and continuing on the monthly anniversary of such date thereafter, in accordance with the terms and conditions of the Severance Plan; however, if Former Employee is a Specified Employee, any payment which would otherwise occur within the first six months following the Former Employee’s termination of employment shall be paid in a lump sum, with interest accruing at a reasonable rate of interest from the date of the Former Employee’s termination of employment, on the first day of the seventh month immediately following the termination of employment to the extent necessary for the Former Employee to avoid any adverse tax consequences under Code Section 409A.

General Severance Allowance. In consideration for the release by Former Employee set forth herein (including the release of any and all claims Former Employee has or may have under the Age Discrimination in Employment Act (“"ADEA”")) and Former Employee’s 's performance of his obligations under this Agreement (including but not limited to Former Employee’s 's obligations under Section 7 hereof), Former Employee is entitled to receive, and Tekelec shall pay to Former Employee, a General Severance Allowance in the aggregate gross amount of $877,500 574,600 payable in 18 12 equal monthly installments of $48,750 47,883.33 each, less all applicable withholding taxes, beginning on the date that is ten days after the Effective Date and continuing on the monthly anniversary of such date thereafter, in accordance with the terms and conditions of the Severance Plan; however, if Former Employee is a Specified Employee, any payment which would otherwise occur within the first six months following the Former Employee’s 's termination of employment shall be paid in a lump sum, with interest accruing at a reasonable rate of interest from the date of the Former Employee’s 's termination of employment, on the first day of the seventh month immediately following the termination of employment to the extent necessary for the Former Employee to avoid any adverse tax consequences under Code Section 409A.

General Severance Allowance. In consideration for the release by Former Employee set forth herein (including the release of any and all claims Former Employee has or may have under the Age Discrimination in Employment Act (“"ADEA”")) and Former Employee’s 's performance of his obligations under this Agreement (including but not limited to Former Employee’s 's obligations under Section 7 hereof), Former Employee is entitled to receive, and Tekelec shall pay to Former Employee, a General Severance Allowance in the aggregate gross amount of $877,500 payable in 18 equal monthly installments of $48,750 each, less all applicable withholding taxes, beginning on the date that is ten days after the Effective Date and continuing on the monthly anniversary of such date thereafter, in accordance with the terms and conditions of the Severance Plan; however, if Former Employee is a Specified Employee, any payment which would otherwise occur within the first six months following the Former Employee’s 's termination of employment shall be paid in a lump sum, with interest accruing at a reasonable rate of interest from the date of the Former Employee’s 's termination of employment, on the first day of the seventh month immediately following the termination of employment to the extent necessary for the Former Employee to avoid any adverse tax consequences under Code Section 409A.