Common use of Severance Payment and Equity Compensation Clause in Contracts

Severance Payment and Equity Compensation. The Executive shall be entitled to receive a severance payment from the Company as provided herein (the "Severance Payment") if within the first twelve (12) month period after the occurrence of a Change in Control, either: The Executive voluntarily resigns his or her employment for Good Reason within sixty (60) days after the Executive becomes aware of the occurrence of an event specified in Section 1(c); or The Company terminates the Executive's employment for any reason other than Just Cause, death, or Total Disability. For all purposes under this Agreement, the amount of the Severance Payment shall be equal to two times (2X) the Executive's annual base salary, as in effect on the date of the termination of Executive's employment (or if Executive's salary was greater, on the date of the Announcement), plus a prorata portion of the Executive's target bonus for the fiscal year in which Executive's employment is terminated, based on the number of entire months of such fiscal year that have elapsed through the date of Executive's termination of employment as a fraction of twelve (12). The Severance Payment shall be made to Executive in a single lump sum cash payment not later than seven (7) business days following the date that Executive becomes entitled to a Severance Payment. Except as may be provided under Sections 2(b) and 2(c), the Severance Payment shall be in lieu of any other post-termination employment payments.

Severance Payment and Equity Compensation. (a) The Executive shall be entitled to receive a severance payment from the Company as provided herein (the "Severance Payment") if within the first twelve (12) month period after the occurrence of a Change in Control, either: : (i) The Executive voluntarily resigns his or her employment for Good Reason within sixty (60) days after the Executive becomes aware of the occurrence of an event specified in Section 1(c); or or (ii) The Company terminates the Executive's employment for any reason other than Just Cause, death, or Total Disability. For all purposes under this Agreement, the amount of the Severance Payment shall be equal to two times (2X) the Executive's annual base salary, as in effect on the date of the termination of Executive's employment (or if Executive's salary was greater, on the date of the Announcement), plus a prorata portion of the Executive's target bonus for the fiscal year in which Executive's employment is terminated, based on the number of entire months of such fiscal year that have elapsed through the date of Executive's termination of employment as a fraction of twelve (12). The Severance Payment shall be made to Executive in a single lump sum cash payment not later than seven (7) business days following the date that Executive becomes entitled to a Severance Payment. Except as may be provided under Sections 2(b) and 2(c), the Severance Payment shall be in lieu of any other post-termination employment payments.

Severance Payment and Equity Compensation. (a) The Executive shall be entitled to receive a severance payment from the Company as provided herein (the "“Severance Payment"”) if within the first twelve (12) month period after the occurrence of a Change in Control, either: : (i) The Executive voluntarily resigns his or her employment for Good Reason within sixty (60) days after the Executive becomes aware of the occurrence of an event specified in Section 1(c); or or (ii) The Company terminates the Executive's ’s employment for any reason other than Just Cause, death, or Total Disability. For all purposes under this Agreement, the amount of the Severance Payment shall be equal to two times (2X) the Executive's ’s annual base salary, as in effect on the date of the termination of Executive's ’s employment (or if Executive's ’s salary was greater, on the date of the Announcement), plus a prorata portion of the Executive's ’s target bonus for the fiscal year in which Executive's ’s employment is terminated, based on the number of entire months of such fiscal year that have elapsed through the date of Executive's ’s termination of employment as a fraction of twelve (12). The Severance Payment shall be made to Executive in a single lump sum cash payment not later than seven (7) business days following the date that Executive becomes entitled to a Severance Payment. Except as may be provided under Sections 2(b) and 2(c), the Severance Payment shall be in lieu of any other post-termination employment payments.