Common use of Separation Payments Clause in Contracts

Separation Payments. Subject to Executive's execution of a Release and except to the extent provided under Section 5.07 and Section 5.09, Executive shall be entitled to the benefits set forth below (the "Separation Benefits") upon termination of employment under the following circumstances: (a) Upon a Nonqualifying Event, Executive shall be entitled to: (i) The Accrued Compensation;