Common use of Severance and Retention Payments Clause in Contracts

Severance and Retention Payments. 6.1 Subject to Executive's continued employment with the Company, Polycom or an affiliate thereof for six (6) months following the Closing (the "Post-Closing Employment Period"), in addition to any Base Salary earned by Executive by virtue of his continued employment with the Company, Polycom or an affiliate thereof during the Post-Closing Employment Period, the Company shall commence payment of the Total Severance and Retention Payments beginning with the first Polycom payroll payment following the Closing. Such Base Salary and Total Severance and Retention Payments shall continue to be paid to Executive during the Post-Closing Employment Period so long as Executive's employment does not terminate (i) for Cause, (ii) voluntarily by Executive other than for Good Reason, or (iii) pursuant to Executive's death or Disability. In the event of Executive's employment during the Post-Closing Termination Period is terminated (i) by the Company other than for Cause, or (ii) by Executive for Good Reason, then subject to (i) Executive entering into a release of claims in substantially the form attached hereto as Appendix III, and (ii) Executive not breaching the Non-Compete and Non-Solicit covenants of Section 7.0 hereof and Appendix VII hereto, the Company shall pay the Executive the unpaid balance of the Total Severance and Retention Payments described in Section 6.2 (i.e., the Total Severance and Retention Payments minus the amount of any Severance Retention Payments previously paid to Executive during the Post-Closing Employment Period) over the period remaining period until two years following the Closing. No Severance and Retention Payments shall be payable pursuant to this Agreement following the second anniversary of the Closing. In the event Executive's employment with the Company, Polycom or its affiliates terminates for any or no reason after the Post-Closing Employment Period and prior to the second anniversary of the Closing, Executive shall receive the balance of his Total Severance and Retention Payments through the second anniversary of the Closing. The Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause or by the Executive with Good Reason if the Executive's employment is terminated prior to the Merger without Cause at the express direction (or action which constitutes an express direction) of Polycom. The Total Severance and Retention Payments, if any, payable under this Section 6.1 will be paid in substantially equal increments on the same payroll cycle as applies to active Polycom employees over a period of up to two years following the Closing.

Severance and Retention Payments. 6.1 Subject to Executive's continued employment with the Company, Polycom Polycom, or an affiliate thereof for six (6) months following the Closing (the "Post-Closing Employment Period"), in addition to any Base Salary earned by Executive by virtue of his continued employment with the Company, Polycom or an affiliate thereof during the Post-Closing Employment Periodon such payment dates, the Company shall commence payment pay Executive one-third of the Total Severance and Retention Payments beginning with the first Polycom payroll payment within 15 days following the Closing. Such Base Salary and , an additional one-third of the Total Severance and Retention Payments shall continue to be paid to Executive during on the Postfirst anniversary of the Closing and the final one-Closing Employment Period so long as Executive's employment does not terminate (i) for Causethird of the Total Severance and Retention Payments on the second anniversary of the Closing. However, (ii) voluntarily by Executive other than for Good Reason, or (iii) pursuant to Executive's death or Disability. In in the event of Executive's employment during the Post-Closing Termination Period is terminated (i) by the Company other than for Cause, or (ii) by Executive for Good Reasontermination of employment, then subject to (i) Executive entering into a release of claims in substantially the form attached hereto as Appendix III, and (ii) Executive not breaching the Non-Compete and Non-Solicit covenants of Section 7.0 hereof and Appendix VII hereto, the Company shall pay the Executive the unpaid balance of the Total Severance and Retention Payments described in Section 6.2 (i.e., the Total Severance and Retention Payments minus the amount of any Severance Retention Payments previously paid to Executive Executive) upon the termination of the Executive's employment during the Post-Closing Employment Periodterm of this Agreement, in addition to the payments and benefits described in Section 5.0 hereof, unless such termination is (i) over by the period remaining period until two years following Company for Cause, (ii) by reason of death or Disability, or (iii) by the ClosingExecutive without Good Reason. No Severance and Retention Payments severance payments shall be payable pursuant to this Agreement following the second anniversary of the Closing. In preceding sentence in the event of Executive's (i) termination of employment with the Companyfor Cause, Polycom (ii) voluntary termination of employment other than for Good Reason, (iii) termination of employment due to death or its affiliates terminates for any Disability, or no reason after the Post-Closing Employment Period and prior to the second anniversary (iv) termination of the Closing, Executive shall receive the balance of his Total Severance and Retention Payments through employment following the second anniversary of the Closing. The Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause or by the Executive with Good Reason if the Executive's employment is terminated prior to the Merger without Cause at the express direction (or action which constitutes an express direction) of Polycom. The Total Severance and Retention Paymentsseverance payments, if any, payable under this Section 6.1 will be paid in twenty-four substantially equal increments on the same payroll cycle as applies to active Polycom employees over monthly installments following a period triggering Date of up to two years following the ClosingTermination.