Common use of Regular Severance Package Clause in Contracts

Regular Severance Package. In the event Executive’s employment is terminated during the Term in a manner that constitutes a “separation from service” by the Company other than for Cause, or by Executive for Good Reason, in either such case other than on or within the period ending on the 30th day following the first anniversary of a Change of Control, and in all cases other than as a result of a timely Notice of Non-Renewal or Executive’s death or disability (as determined under Section 3.08), then, subject to the satisfaction of the conditions set forth in subsection 3.09(d) below, Executive’s regular severance package (“Regular Severance Package”) shall be as follows: (i) Executive shall receive one hundred percent (100%) of the aggregate of (x) Executive’s annual Base Salary for the year in which such termination occurs, and (y) the amount of any Incentive Payment paid to Executive for the prior year under the Management Incentive Program applicable to Executive. Such amount shall be paid ratably in accordance with the Company’s normal salary payment schedule for senior management (but not less frequently than monthly) over eighteen (18) months immediately following the date of the Executive’s separation from service (except as set forth in Section 3.09(d) and (g) below). The foregoing payment is referred to herein as the “Regular Severance Pay”; (ii) During the 18 month period immediately following the termination of employment, the Company shall also pay the premium for continued medical and any other applicable health insurance coverage under COBRA for Executive (and if applicable, his family) subject to Executive’s timely election of such COBRA coverage, the continued eligibility for participation by Executive and his family, and subject to COBRA’s terms, conditions and restrictions; and (iii) The unvested compensatory equity awards (including any stock options and restricted stock awards) then held by Executive, if any, that would vest in the ordinary course in the twelve (12) month period immediately following the termination of Executive’s employment shall vest automatically, effective as of immediately prior to the termination of Executive’s employment. All other unvested compensatory equity awards shall immediately be forfeited (subject, however, to any contrary determination of the Board in its sole discretion).

Regular Severance Package. In the event Executive’s employment is terminated during the Term in a manner that constitutes a “separation from service” by the Company other than for Cause, or by Executive for Good Reason, in either such case other than on or within the period ending on the 30th day following the first anniversary of a Change of Control, and in all cases other than as a result of a timely Notice of Non-Renewal or Executive’s death or disability (as determined under Section 3.08), then, subject Subject to the satisfaction of the conditions set forth in subsection 3.09(d) below), in the event Executive’s regular employment under this Agreement is terminated during the Term, and prior to or in the absence of a Change of Control (as defined above) by the Company, by Executive for Good Reason or other than for Cause, then as and for a severance package (“Regular Severance Package”) ), Executive shall be as followsreceive: (i) Executive shall receive one hundred percent (100%) of the aggregate of (x) Executive’s annual Base Salary for the year in which such termination occurs, and (y) the amount of any Incentive Payment paid to Executive for the prior year under the Management Incentive Program applicable to Executive. Such amount shall be paid either in a single lump sum payment or ratably in accordance with the Company’s normal salary payment schedule for senior management (but not less frequently than monthly) over eighteen (18) months immediately following months, at the date sole discretion of the Executive’s separation from service (except as set forth in Section 3.09(d) and (g) below)Company. The foregoing payment is referred to herein as the “Regular Severance Pay”; (ii) . During the such 18 month period immediately following the termination of employmentperiod, the Company shall also pay the premium for continued medical and any other applicable health insurance coverage provide to Executive under COBRA for Executive (and if applicable, his family) subject to Executive’s timely election eligibility under COBRA) all Company-paid medical insurance benefits available to other senior executives of such COBRA coveragethe Company, all costs of which shall be paid by the continued eligibility for participation by Executive and his family, and subject to COBRA’s terms, conditions and restrictionsCompany; and (iiiii) The All unvested compensatory equity awards (including any stock warrants, options and or restricted stock awards) then held by Executive, if any, that would vest in the ordinary course in the twelve (12) month period immediately following the termination cessation of Executive’s employment shall vest automatically, effective as of immediately prior to automatically on the date three (3) months following the termination of Executive’s employment. All other unvested compensatory equity awards warrants, options or restricted stock shall immediately be forfeited (subject, however, to any contrary determination of the Board in its sole discretion).

Regular Severance Package. In the event Executive’s employment is terminated during the Term in a manner that constitutes a “separation from service” by the Company other than for Cause, Cause or by Executive for Good Reason, in either such case other than on or within the period ending on the 30th day following the first anniversary of a Change of Control, and in all cases other than as a result of a timely Notice of Non-Renewal or Executive’s death or disability (as determined under Section 3.08), then, subject to the satisfaction of the conditions set forth in subsection 3.09(d) below, Executive’s regular severance package (“Regular Severance Package”) shall be as follows: (i) Executive shall receive one hundred percent (100%) of the aggregate of (x) Executive’s annual Base Salary for the year in which such termination occurs, and (y) the amount of any Incentive Payment paid to Executive for the prior year under the Management Incentive Program applicable to Executive. Such amount shall be paid ratably in accordance with the Company’s normal salary payment schedule for senior management (but not less frequently than monthly) over eighteen (18) months immediately following the date of the Executive’s separation from service (except as set forth in Section 3.09(d) and (g) below). The foregoing payment is referred to herein as the “Regular Severance Pay”;. (ii) During the 18 month period immediately following the termination of employment, the Company shall also pay the premium for continued medical and any other applicable health insurance coverage under COBRA for Executive (and if applicable, his family) subject to Executive’s timely election of such COBRA coverage, the continued eligibility for participation by Executive and his family, and subject to COBRA’s terms, conditions and restrictions; and (iii) The unvested compensatory equity awards (including any stock options and restricted stock awards) then held by Executive, if any, that would vest in the ordinary course in the twelve (12) month period immediately following the termination of Executive’s employment shall vest automatically, effective as of immediately prior to the termination of Executive’s employment. All other unvested compensatory equity awards shall immediately be forfeited (subject, however, to any contrary determination of the Board in its sole discretion).

Regular Severance Package. In the event Executive’s employment is terminated during the Term in a manner that constitutes a “separation from service” by the Company other than for Cause, or by Executive for Good Reason, in either such case other than on or within the period ending on the 30th day following the first anniversary of a Change of Control, and in all cases other than as a result of a timely Notice of Non-Renewal or Executive’s death or disability (as determined under Section 3.08), then, subject to the satisfaction of the conditions set forth in subsection 3.09(d) below, Executive’s regular severance package (“Regular Severance Package”) shall be as follows: (i) Executive shall receive one hundred percent (100%) of the aggregate of (x) Executive’s annual Base Salary for the year in which such termination occurs, and (y) the amount of any Incentive Payment paid to Executive for the prior year under the Management Incentive Program applicable to Executive. Such amount shall be paid ratably in accordance with the Company’s normal salary payment schedule for senior management (but not less frequently than monthly) over eighteen (18) months immediately following the date of the Executive’s separation from service (except as set forth in Section 3.09(d) and (g) below). The foregoing payment is referred to herein as the “Regular Severance Pay”; (ii) During the 18 month period immediately following the termination of employment, the Company shall also pay the premium for continued medical and any other applicable health insurance coverage under COBRA for Executive (and if applicable, his family) subject to Executive’s timely election of such COBRA coverage, the continued eligibility for participation by Executive and his family, and subject to COBRA’s terms, conditions and restrictions; and (iii) The unvested compensatory equity awards (including any stock options and restricted stock awards) then held by Executive, if any, that would vest in the ordinary course in the twelve (12) month period immediately following the termination of Executive’s employment shall vest automatically, effective as of immediately prior to the termination of Executive’s employment. All other unvested compensatory equity awards shall immediately be forfeited (subject, however, to any contrary determination of the Board in its sole discretion).

Regular Severance Package. In the event Executive’s 's employment is terminated during the Term in a manner that constitutes a “"separation from service” " by the Company other than for Cause, Cause or by Executive for Good Reason, in either such case other than on or within the period ending on the 30th day following the first anniversary of a Change of Control, and in all cases other than as a result of a timely Notice of Non-Renewal or Executive’s 's death or disability (as determined under Section 3.08), then, subject to the satisfaction of the conditions set forth in subsection 3.09(d) below, Executive’s 's regular severance package (“"Regular Severance Package”") shall be as follows: (i) Executive shall receive one hundred percent (100%) of the aggregate of (x) Executive’s 's annual Base Salary for the year in which such termination occurs, and (y) the amount of any Incentive Payment paid to Executive for the prior year under the Management Incentive Program applicable to Executive. Such amount shall be paid ratably in accordance with the Company’s 's normal salary payment schedule for senior management (but not less frequently than monthly) over eighteen (18) months immediately following the date of the Executive’s 's separation from service (except as set forth in Section 3.09(d) and (g) below). The foregoing payment is referred to herein as the “"Regular Severance Pay”;". (ii) During the 18 month period immediately following the termination of employment, the Company shall also pay the premium for continued medical and any other applicable health insurance coverage under COBRA for Executive (and if applicable, his family) subject to Executive’s 's timely election of such COBRA coverage, the continued eligibility for participation by Executive and his family, and subject to COBRA’s 's terms, conditions and restrictions; and (iii) The unvested compensatory equity awards (including any stock options and restricted stock awards) then held by Executive, if any, that would vest in the ordinary course in the twelve (12) month period immediately following the termination of Executive’s 's employment shall vest automatically, effective as of immediately prior to the termination effective date of Executive’s employmentthe Termination Agreement. All other unvested compensatory equity awards shall immediately be forfeited (subject, however, to any contrary determination of the Board in its sole discretion).