Common use of Severance Payment and Target Incentive Payment Clause in Contracts

Severance Payment and Target Incentive Payment. (i) (A) The Company shall pay to the Executive an amount equal to 12 months of Base Salary, at the highest rate in effect during the 24 months preceding the date of the Notice of Termination (the “Severance Computation Period”) in 12 substantially equal monthly installment payments beginning with the first calendar month which begins at least 60 days after the Termination Date.

Severance Payment and Target Incentive Payment. (i) (A) The Company shall pay to the Executive an amount equal to 12 months of Base Salary at the greater of (the aggregate amount of such payments being the “Severance Salary, at ”) (1) the highest rate in effect during the 24 months preceding the date of the Notice of Termination (the “Severance Computation Period”) or (2) the salary that would have been in effect for the next subsequent quarter given any completed capital raises in 12 substantially equal monthly installment payments beginning with the first calendar month which begins at least 60 days after the Termination Date.