Common use of Normal Severance Benefits Clause in Contracts

Normal Severance Benefits. Except as otherwise provided in Part Three of this letter agreement, should your employment with the Company terminate by reason of an Involuntary Termination prior to the occurrence of a Change in Control, then you will become entitled to receive the severance benefits provided under this Part Two. Notwithstanding the foregoing, you will only be entitled to receive such benefits if you execute and deliver to the Company, at the time of your Involuntary Termination, a fully executed, valid and binding Release. Furthermore, and notwithstanding anything else contained herein to the contrary, the Company shall have no obligation to pay you such benefits until after such Release has become irrevocable by you in accordance with all applicable laws, rules and regulations. In addition, your benefits under this Part Two will be subject to the limitations of Part Four and your compliance with the restrictive covenants set forth in Paragraph 1 of Part Five. Your benefits under this Part Two shall be in lieu of any other severance benefits to which you might otherwise, by reason of the termination of your employment, be entitled under any other severance plan, program or arrangement of the Company, including without limitation, any benefits under your Prior Agreement. In no event will you be entitled to benefits under both Part Two and Part Three of this letter agreement. The severance benefits to which you may become entitled under this Part Two shall consist of the following:

Normal Severance Benefits. Except as otherwise provided in Part Three of this letter agreement, should your employment with the Company terminate by reason of an Involuntary Termination prior to the occurrence of a Change in ControlTermination, then you will become entitled to receive the severance benefits provided under this Part Two. Notwithstanding the foregoing, you will only be entitled to receive such benefits if PROVIDED AND ONLY IF you execute and deliver to the Company, at the time of your Involuntary Termination, a fully executed, valid general release (in form and binding Release. Furthermore, and notwithstanding anything else contained herein substance reasonably satisfactory to the contraryCompany), the Company shall have no obligation to pay you such benefits until after such Release has become irrevocable by you which becomes effective in accordance with applicable law and pursuant to which you release the Company and its officers, directors, employees and agents from any and all applicable laws, rules claims you may otherwise have with respect to the terms and regulationsconditions of your employment with the Company and the termination of that employment. In addition, your benefits under this Part Two will be subject to the limitations of Part Four and your compliance with the restrictive covenants set forth in Paragraph 1 B of Part Five. Your benefits under this Part Two shall be in lieu of any other severance benefits to which you might otherwise, by reason of the termination of your employment, be entitled under any other severance plan, program or arrangement of the Company, including without limitation, Company (other than any benefits under vesting acceleration provisions in effect for your Prior AgreementOther Options). In no event will you be entitled to benefits under both Part Two and Part Three of this letter agreement. The severance benefits to which you may become entitled under this Part Two shall consist of the following: