Common use of Right to Change in Control Severance Benefits Clause in Contracts

Right to Change in Control Severance Benefits. In order to induce Executive to remain in its employ, the Company agrees to provide Executive the payments and benefits described in this Agreement (in lieu of any severance payments and benefits Executive would otherwise receive in accordance with the Company’s severance pay practices) if Executive’s employment with the Company is terminated subsequent to a “Change in Control” of the Company as defined in Section 3, under the circumstances described in Section 4.

Right to Change in Control Severance Benefits. In order to induce Executive to remain in its employ, the Company agrees to provide Executive the payments and benefits described in this Agreement (in lieu of compensation and benefits under Executive's Employment Agreement with the Company, dated as of January 1, 1997, and any severance payments and benefits Executive would otherwise receive in accordance with the Company’s 's severance pay practices) if Executive’s 's employment with the Company is terminated subsequent to a “"Change in Control” " of the Company as defined in Section SECTION 3, under the circumstances described in Section SECTION 4.