Common use of Other Severance Arrangements Clause in Contracts

Other Severance Arrangements. Except as may be otherwise specifically provided in the Change In Control Agreement, the Executive's rights under this Section 5 shall be in lieu of any benefits that may be otherwise payable to or on behalf of the Executive pursuant to the terms of any severance pay arrangement of the Company or any subsidiary or any other similar arrangement of the Company or any subsidiary providing benefits upon involuntary termination of employment (including, without limitation, any executive management separation plan). In the event of a change in control as defined under the Change In Control Agreement, the benefits provided under the Change In Control Agreement shall be in lieu of any severance benefits that may be otherwise payable under this Agreement.