Common use of Payment of Severance Amount Clause in Contracts

Payment of Severance Amount. If the Executive’s employment by the Company, or any Affiliate or successor of the Company, is terminated by either the Company or the Executive during the time periods set forth in subparagraphs (a) and (b) below, then the Company shall pay the Executive an amount equal to the Change in Control Severance Amount, payable in one (1) lump sum within fifteen (15) days after the Executive’s termination of employment: (a) termination by the Company, or any Affiliate or successor of the Company, without Cause, within either twelve (12) months prior to a Change in Control or twelve (12) months immediately following a Change in Control; or (b) termination by the Executive, for any reason, within twelve (12) months immediately following a Change in Control.

Payment of Severance Amount. If the Executive’s 's employment by the Company, or any Affiliate or successor of the Company, is terminated by either the Company or the Executive during the time periods set forth in subparagraphs (a) and (b) below, then the Company shall pay the Executive an amount equal to the Change in Control Severance Amount, payable in one (1) lump sum within fifteen (15) days after the Executive’s 's termination of employment: (a) termination by the Company, or any Affiliate or successor of the Company, without Cause, within either twelve (12) months prior to a Change in Control or twelve (12) months immediately following a Change in Control; or (b) termination by the Executive, for any reason, within twelve (12) months immediately following a Change in Control.

Payment of Severance Amount. If the Executive’s 's employment by the Company, or any Affiliate or successor of the Company, is terminated by either the Company or the Executive during the time periods set forth in subparagraphs (a) and (b) below, then the Company shall pay the Executive an amount equal to the Change in Control Severance Amount, payable in one (1) lump sum within fifteen (15) days after the Executive’s termination of employmentTermination Date: (a) termination Termination by the Company, or any Affiliate or successor of the Company, without Cause, within either twelve six (126) months prior to a Change in of Control or twelve (12) months immediately following a Change in of Control; or (b) termination Termination by the Executive, for other than as a result of death, disability, or normal retirement pursuant to a retirement plan to which Executive was subject prior to any reasonChange of Control, and following a Change in Duties, which Change in Duties and termination shall occur within twelve (12) months immediately following a Change in of Control.