Common use of Requirements for Additional Compensation Clause in Contracts

Requirements for Additional Compensation. In addition to the compensation set forth in Section 4 above, and in lieu of any severance benefits under any then current severance plan for executive officers of the Company, Executive will receive the additional compensation set forth in subsection (b) below, if the following requirements are met: (i) Executive’s employment is terminated by the Company pursuant to Section 3(c) above (Termination by the Company without Cause) or by Executive pursuant to Section 3(e) above (termination by Executive for Good Reason) not in connection with a Change in Control; (ii) Executive strictly abides by the restrictive covenants set forth in Section 10 below; and (iii) Executive executes (and does not revoke) a separation agreement and release in a form satisfactory to the Company on or after his employment termination date, but no later than the date required by the Company in accordance with applicable law.

Requirements for Additional Compensation. In addition to the compensation set forth in Section 4 above, and in lieu of any severance benefits under any the Company’s then current severance plan for executive officers of the Company, Executive will receive the additional compensation set forth in subsection (b) below, if the following requirements are met: (i) Executive’s employment is terminated by the Company pursuant to Section 3(c3(d) above (Termination by the Company without Cause) or by Executive pursuant to Section 3(e3(f) above (termination by Executive for Good Reason) not in connection with within two (2) years following a Change in Control; (ii) Executive strictly abides by the restrictive covenants set forth in Section 10 below; and (iii) Executive executes (and does not revoke) a separation agreement and release in a form satisfactory to the Company on or after his employment termination date, but no later than the date required by the Company in accordance with applicable law.