Common use of Other Severance Payments Clause in Contracts

Other Severance Payments. In the event that during the Term of Employment (i) Executive’s employment is involuntarily terminated by the Partnership (except due to a “No Severance Benefits Event” (as defined in Section 6(d)), (ii) Executive’s employment is terminated due to “Disability” or “Retirement” (as such terms are defined in Section 6(d)) or (iii) Executive terminates his employment for Good Reason (as defined in Section 6(d)), then in any such event under clause (i), clause (ii) or clause (iii), the following severance benefits shall be provided to Executive or, in the event of death before receiving all such benefits, to Executive’s “Designated Beneficiary” (as defined in Section 6(d)) following death: (1) The Partnership shall pay as additional compensation (the “Additional Payment”), an amount equal to Two (2) years of Base Salary in effect as of the Termination Date. The Partnership shall make the Additional Payment to Executive in a cash lump sum, net of applicable withholdings, not later than sixty (60) calendar days following the Termination Date.

Other Severance Payments. In the event that during the Term of Employment (i) Executive’s employment is involuntarily terminated by the Partnership (except due to a “No Severance Benefits Event” (as defined in Section 6(d)), (ii) Executive’s employment is terminated due to “Disability” or “Retirement” (as such terms are defined in Section 6(d)) or (iii) Executive terminates his employment for Good Reason (as defined in Section 6(d)), then in any such event under clause (i), clause (ii) or clause (iii), the following severance benefits shall be provided to Executive or, in the event of death before receiving all such benefits, to Executive’s “Designated Beneficiary” (as defined in Section 6(d)) following death: (1) The Partnership shall pay as additional compensation (the “Additional Payment”), an amount equal to Two (2A) years six (6) months of Base Salary in effect as of the Termination Date. The Partnership shall make the Additional Payment to Executive in a cash lump sum, net of applicable withholdings, not later than sixty (60) calendar days following the Termination Date.;