Common use of Payments Upon Termination Without Cause or Resignation for Good Reason Clause in Contracts

Payments Upon Termination Without Cause or Resignation for Good Reason. If the Company terminates the Employee's employment without Cause or the Employee resigns for Good Reason, then in each case the Employee shall be entitled to receive a lump sum equal to (i) 2.99 times her Base Salary plus (ii) any incentive bonus compensation and any other accrued benefits due Employee in accordance with Paragraph 3.2 on a pro rata basis through date of termination as determined in accordance with Paragraph 6.1 provided, however, that if the payments under this Paragraph 6.2, either alone or together with other payments which the Employee has the right to receive from the Company, would constitute a "parachute payment" (as defined in Section 280G of the Internal Revenue Code of 1986, as amended (the "Code")), such severance payment shall be reduced to the largest amount as will result in no portion of the severance payment under this Paragraph 6.2 being subject to the excise tax imposed by Section 4999 of the Code.

Payments Upon Termination Without Cause or Resignation for Good Reason. If the Company terminates the Employee's employment without Cause or the Employee resigns for Good Reason, then in each case the Employee shall be entitled to receive a lump sum equal to (i) 2.99 times her his Base Salary plus (ii) any incentive bonus compensation and any other accrued benefits due Employee in accordance with Paragraph 3.2 on a pro rata basis through date of termination as determined in accordance with Paragraph 6.1 provided, however, that if the payments under this Paragraph 6.2, either alone or together with other payments which the Employee has the right to receive from the Company, would constitute a "parachute payment" (as defined in Section 280G of the Internal Revenue Code of 1986, as amended (the "Code")), such severance payment shall be reduced to the largest amount as will result in no portion of the severance payment under this Paragraph 6.2 being subject to the excise tax imposed by Section 4999 of the Code.

Payments Upon Termination Without Cause or Resignation for Good Reason. If the Company terminates the Employee's employment without Cause or the Employee resigns for Good Reason, then in each case the Employee shall be entitled to receive a lump sum equal to (i) 2.99 times her Base Salary plus (ii) any incentive bonus compensation and any other accrued benefits due Employee in accordance with Paragraph 3.2 on a pro rata basis through date of termination as determined in accordance with Paragraph 6.1 provided, however, that if the payments under this Paragraph 6.2, either alone or together with other payments which the Employee has the right to receive from the Company, would constitute a "parachute payment" (as defined in Section 280G of the Internal Revenue Code of 1986, as amended (the "Code")), such severance payment shall be reduced to the largest amount as will result in no portion of the severance payment under this Paragraph 6.2 being subject to the excise tax imposed by Section 4999 of the Code.