Common use of Payment of Severance Amount Clause in Contracts

Payment of Severance Amount. If the Employee's employment by the Company or any subsidiary or successor of the Company shall be subject to a Voluntary Termination or an Involuntary Termination within the Covered Period, then the Company shall pay the Employee a lump sum amount equal to the applicable Severance Amount, payable within 15 business days after the Termination Date.

Payment of Severance Amount. If the Employee's employment by the Company or any subsidiary or successor of the Company company shall be subject to a Voluntary Termination or an Involuntary Termination within the Covered covered Period, then the Company shall pay the Employee a lump sum an amount equal to the applicable Severance Amount, payable within 15 business days after the Termination Date.