Common use of Salary Severance Clause in Contracts

Salary Severance. A lump sum severance payment equal to 12 months of Executive’s Base Salary, as in effect immediately prior to Executives termination of employment (or, if higher, as in effect immediately prior to reduction of Executive’s Base Salary described in clause (ii) of the definition of Good Reason), which will be paid in accordance with the Company’s regular payroll procedures. For the avoidance of doubt, if (A) Executive incurred a termination prior to a Change of Control that qualifies Executive for severance payments under Section 8(a)(i); and (B) a Change of Control occurs within the three (3)-month period following Executive’s termination of employment that qualifies Executive for the superior benefits under this Section 8(b)(i), then Executive shall be entitled to a lump-sum payment of the amount calculated under this Section 8(b)(i), less amounts already paid under Section 8(a)(i).

Salary Severance. A lump sum severance payment equal to 12 [CEO: eighteen (18) /All Others: twelve (12)] months of Executive’s Base Salaryannual base salary, as then in effect on the date of such termination, or, if greater, at the level in effect immediately prior to Executives termination the Change of employment (or, if higher, as in effect immediately prior to reduction of Executive’s Base Salary described in clause (ii) of the definition of Good Reason)Control, which will be paid in accordance with the Company’s regular payroll procedures. For the avoidance of doubt, if (A) Executive incurred a termination prior to a Change of Control that qualifies Executive for severance payments under Section 8(a)(i3(a)(i); and (By) a Change of Control occurs within the three (3)-month period following Executive’s termination of employment that qualifies Executive for the superior benefits under this Section 8(b)(i3(b)(i), then Executive shall be entitled to a lump-sum payment of the amount calculated under this Section 8(b)(i3(b)(i), less amounts already paid under Section 8(a)(i3(a)(i).

Salary Severance. A lump sum severance payment equal to 12 24 months of Executive’s Base Salary, as in effect immediately prior to Executives termination of employment (or, if higher, as in effect immediately prior to reduction of Executive’s Base Salary described in clause (ii) of the definition of Good Reason), which will be paid in accordance with the Company’s regular payroll procedures. For the avoidance of doubt, if (A) Executive incurred a termination prior to a Change of Control that qualifies Executive for severance payments under Section 8(a)(i); and (B) a Change of Control occurs within the three (3)-month period following Executive’s termination of employment that qualifies Executive for the superior benefits under this Section 8(b)(i), then Executive shall be entitled to a lump-sum payment of the amount calculated under this Section 8(b)(i), less amounts already paid under Section 8(a)(i).