Common use of SEVERANCE; CHANGE OF CONTROL Clause in Contracts

SEVERANCE; CHANGE OF CONTROL. If the Company terminates your employment without Cause, as defined in Annex A, or if you terminate your employment for Good Reason, as defined in Annex A, whether the same occurs before or following a Change of Control (as defined in Annex A), the Company will pay you an amount equal to one and one-half (1 1/2) times your Annualized Total Compensation (as defined below), subject to the execution by you of a customary release, which amount shall be payable in equal installments over the eighteen (18) month period following the date your employment with the Company is terminated (the "Termination Date"). The Company will also provide to you a continuation of all benefits, including automobile and other related benefits, if any, which you were eligible to receive immediately prior to such termination, for a period of eighteen (18) months following the Termination Date. The Company will also make the additional payments provided in Annex B, if applicable. Your rights of indemnification under the Company's and any of its subsidiaries' organizational documents, any plan or agreement at law or otherwise and your rights thereunder to director's and officer's liability insurance coverage for, in both cases, actions as an officer and director of the Company and its affiliates shall survive any termination of your employment.

SEVERANCE; CHANGE OF CONTROL. If the Company terminates your employment as Executive Vice President, Chief Financial Officer without Cause, as defined in Annex A, or if you terminate your employment for Good Reason, as defined in Annex A, whether the same occurs before or following a Change of Control (as defined in Annex A), the Company will pay you an amount equal to one and one-half (1 1/2) times your Annualized Total Compensation (as defined below), subject to the execution by you of a customary release, which amount shall be payable in equal installments over the eighteen (18) month period following the date your employment with the Company is terminated (the "Termination Date"). The Company will also provide to you a continuation of all benefits, including automobile and other related benefits, if any, which you were eligible to receive immediately prior to such termination, for a period of eighteen (18) months following the Termination Date. The Company will also make the additional payments provided in Annex B, if applicable. Your rights of indemnification under the Company's and any of its subsidiaries' subsidiaries organizational documents, any plan or agreement at law or otherwise and your rights thereunder to director's and officer's liability insurance coverage for, in both cases, actions as an officer and director of the Company and its affiliates shall survive any termination of your employment.

SEVERANCE; CHANGE OF CONTROL. If the Company terminates your employment as EVP, Corporate Operations and Treasurer without Cause, as defined in Annex A, or if you terminate your employment for Good Reason, as defined in Annex A, whether the same occurs before or following a Change of Control (as defined in Annex A), the Company will pay you an amount equal to one and one-half (1 1/2) times your Annualized Total Compensation (as defined below), subject to the execution by you of a customary release, which amount shall be payable in equal installments over the eighteen (18) month period following the date your employment with the Company is terminated (the "Termination Date"). The Company will also provide to you a continuation of all benefits, including automobile and other related benefits, if any, which you were eligible to receive immediately prior to such termination, for a period of eighteen (18) months following the Termination Date. The Company will also make the additional payments provided in Annex B, if applicable. Your rights of indemnification under the Company's and any of its subsidiaries' subsidiaries organizational documents, any plan or agreement at law or otherwise and your rights thereunder to director's and officer's liability insurance coverage for, in both cases, actions as an officer and director of the Company and its affiliates shall survive any termination of your employment.

SEVERANCE; CHANGE OF CONTROL. If the Company terminates your employment as EVP, Corporate Operations and Treasurer without Cause, as defined in Annex A, or if you terminate your employment for Good Reason, as defined in Annex A, whether the same occurs before or following a Change of Control (as defined in Annex A), the Company will pay you an amount equal to one and one-half (1 1/2) times your Annualized Total Compensation (as defined below), subject to the execution by you of a customary release, which amount shall be payable in equal installments over the eighteen (18) month period following the date your employment with the Company is terminated (the "“Termination Date"”). The Company will also provide to you a continuation of all benefits, including automobile and other related benefits, if any, which you were eligible to receive immediately prior to such termination, for a period of eighteen (18) months following the Termination Date. The Company will also make the additional payments provided in Annex B, if applicable. Your rights of indemnification under the Company's ’s and any of its subsidiaries' subsidiaries organizational documents, any plan or agreement at law or otherwise and your rights thereunder to director's ’s and officer's ’s liability insurance coverage for, in both cases, actions as an officer and director of the Company and its affiliates shall survive any termination of your employment.