Common use of SEVERANCE PAYMENTS AND BENEFITS UPON A QUALIFIED TERMINATION Clause in Contracts

SEVERANCE PAYMENTS AND BENEFITS UPON A QUALIFIED TERMINATION. (a) Color Kinetics will provide you with the severance payments listed below only in the event of a Qualified Termination and provided that you continue to adhere to any post-termination obligations including, but not limited to, any noncompetition, non-disclosure and non-solicitation covenants. A "Qualified Termination" means your employment is terminated for any reason OTHER than because (i) you die or become Disabled, (ii) Color Kinetics terminates you for "Cause," (iii) you resign or (iv) the Company ceases and/or discontinues its primary operations for a period in excess of one week. If a Qualified Termination occurs, you will be eligible to receive severance pay, in equal monthly installments at your monthly base salary rate in effect immediately prior to the Qualified Termination, for four months from the date of the Qualified Termination. The first severance payment will be made upon the first regularly scheduled Company payday on or following your execution of the release agreement referenced above, will be made in accordance with the Company's normal payroll practices as established or modified from time to time, and will be subject to all federal, state and/or local payroll and withholding taxes.

SEVERANCE PAYMENTS AND BENEFITS UPON A QUALIFIED TERMINATION. (a) Color Kinetics will provide you with the severance payments listed below only in the event of a Qualified Termination and provided that you continue to adhere to any post-termination obligations including, but not limited to, any noncompetition, non-disclosure and non-solicitation covenants. A "Qualified Termination" means your employment is terminated for any reason OTHER than because (i) you die or become Disabled, (ii) Color Kinetics terminates you for "Cause," (iii) you resign or (iv) the Company ceases and/or discontinues its primary operations for a period in excess of one week. If a Qualified Termination occurs, you will be eligible to receive severance pay, in equal monthly installments at your monthly base salary rate in effect immediately prior to the Qualified Termination, for four months from the date of the Qualified Termination. The first severance payment will be made upon the first regularly scheduled Company payday on or following your execution of the release agreement referenced above, will be made in accordance with the Company's normal payroll practices as established or modified from time to time, and and, will be subject to all federal, state and/or local payroll and withholding taxes.