Common use of Right to Severance Benefit Clause in Contracts

Right to Severance Benefit. (a) The Employee shall be entitled to receive from the Company a Severance Benefit in the amount provided in Section 3.2 if (i) a Change in Control has occurred and (ii) within one (1) year thereafter, the Employee's employment with the Company terminates for any reason (for purposes hereof employment shall be considered terminated if employment continues only on a transitional basis) except that notwithstanding the provisions of this paragraph (a), no benefits under this Agreement will be payable should the Employee's termination of employment be (A) for Cause, (B) by reason of Permanent Disability, (C) voluntarily initiated by the Employee for other than Good Reason, or (D) by reason of the Employee's death.

Right to Severance Benefit. (a) The Employee shall be entitled to receive from the Company a Severance Benefit in the amount provided in Section 3.2 if (i) a Change in Control has occurred and (ii) within one two (12) year years thereafter, the Employee's employment with the Company terminates for any reason (for purposes hereof employment shall be considered terminated if employment continues only on a transitional basis) except that notwithstanding the provisions of this paragraph (a), no benefits under this Agreement will be payable should the Employee's termination of employment be (A) for Cause, (B) by reason of Permanent Disability, (C) voluntarily initiated by the Employee for other than Good Reason, or (D) by reason of the Employee's death.