Common use of Severance Upon Termination Clause in Contracts

Severance Upon Termination. If, during the Term, the Executive's employment is terminated by the Company without Cause, or the Executive shall terminate employment for Good Reason prior to a Change in Control of the Company (the date of termination is referred to as the "Termination Date"), then the Company shall pay the Executive in lieu of other damages, an amount (the "Severance Payments") equal to his then current Base Salary payable in installments at the same time the Company pays salary to its other senior executive employees payable over the longer of (i) the balance of the Term or (ii) one year (the period over which the Severance Payments are made is referred to as the "Severance Period"). The Company shall have no liability to make any Severance Payments as provided for in this paragraph unless (i) the Executive executes a General Release in a form substantially as set forth in Exhibit A attached hereto and (ii) the Executive complies with all provisions in Section 8 (Restrictive Covenants). Such amount shall reduce the amount of any other severance payment that otherwise would have been payable to the Executive under any other Company plan, program or arrangement. In addition, the Company shall maintain during the lesser of the balance of the Term immediately prior to such termination or the Severance Period all employee benefit plans and programs which the Executive participated in immediately prior to such termination other than bonus, incentive compensation and similar plans based on performance, provided the Executive's participation is permissible under the general terms and provisions of such plans and applicable law. In the event of a Voluntary Termination, the Executive shall receive only his earned but unpaid Base Salary as of the date of his termination.

Severance Upon Termination. If, during the Term, the Executive's employment is terminated by the Company without Cause, or the Executive shall terminate employment for Good Reason prior to a Change in Control of the Company (the date of termination is referred to as the "Termination Date"), then the Company shall pay the Executive in lieu of other damages, an amount (the "Severance Payments") equal to his then current Base Salary payable in installments at the same time the Company pays salary to its other senior executive employees payable over the longer of (i) the balance of the Term or (ii) one year two years (the period over which the Severance Payments are made is referred to as the "Severance Period"). The Company shall have no liability to make any Severance Payments as provided for in this paragraph unless (i) the Executive executes a General Release in a form substantially as set forth in Exhibit A attached hereto and (ii) the Executive complies with all provisions in Section 8 (Restrictive Covenants). Such amount shall reduce the amount of any other severance payment that otherwise would have been payable to the Executive under any other Company plan, program or arrangement. In addition, the Company shall maintain during the lesser of the balance of the Term immediately prior to such termination or the Severance Period all employee benefit plans and programs which the Executive participated in immediately prior to such termination other than bonus, incentive compensation and similar plans based on performance, provided the Executive's participation is permissible under the general terms and provisions of such plans and applicable law. In the event of a Voluntary Termination, the Executive shall receive only his earned but unpaid Base Salary as of the date of his termination.

Severance Upon Termination. If, during the Term, the Executive's employment is terminated by the Company without Cause, or the Executive shall terminate employment for Good Reason prior to a Change in Control of the Company (the date of termination is referred to as the "Termination Date"), then the Company shall pay the Executive in lieu of other damages, an amount (the "Severance Payments") equal to his then current Base Salary payable in installments at the same time the Company pays salary to its other senior executive employees payable over the longer of (i) the balance of the Term or (ii) one year eight months (the period over which the Severance Payments are made is referred to as the "Severance Period"). The Company shall have no liability to make any Severance Payments as provided for in this paragraph unless (i) the Executive executes a General Release in a form substantially as set forth in Exhibit A attached hereto and (ii) the Executive complies with all provisions in Section 8 (Restrictive Covenants). Such amount shall reduce the amount of any other severance payment that otherwise would have been payable to the Executive under any other Company plan, program or arrangement. In addition, the Company shall maintain during the lesser of the balance of the Term immediately prior to such termination or the Severance Period all employee benefit plans and programs which the Executive participated in immediately prior to such termination other than bonus, incentive compensation and similar plans based on performance, provided the Executive's participation is permissible under the general terms and provisions of such plans and applicable law. In the event of a Voluntary Termination, the Executive shall receive only his earned but unpaid Base Salary as of the date of his termination.

Severance Upon Termination. If, during the Term, If the Executive's employment is terminated by the Company without Cause, or the Executive shall terminate employment for Good Reason prior to a Change in Control of the Company (the date of termination is referred to as the "Termination Date"), then the Company shall pay the Executive in lieu of other damages, an amount (the "Severance Payments") equal to his then current Base Salary payable in installments at the same time the Company pays salary to its other senior executive employees payable over the longer of (i) the balance of the Term or (ii) one year [SEVERANCE PERIOD] (the period over which the Severance Payments are made is referred to as the "Severance Period"). The Company shall have no liability to make any Severance Payments as provided for in this paragraph unless (i) the Executive executes a General Release in a form substantially as set forth in Exhibit A attached hereto and (ii) the Executive complies with all provisions in Section 8 (Restrictive Covenants). Such amount shall reduce the amount of any other severance payment that otherwise would have been payable to the Executive under any other Company plan, program or arrangement. In addition, (i) any Company stock options not vested at the time of termination shall immediately become vested and remain exercisable for their term as if Executive's employment had not been terminated and (ii) the Company shall maintain during the lesser of the balance of the Term immediately prior to such termination or the Severance Period all employee benefit plans and programs which the Executive participated in immediately prior to such termination other than bonus, incentive compensation and similar plans based on performance, provided the Executive's participation is permissible under the general terms and provisions of such plans and applicable lawplans. In the event of If Executive causes a Voluntary Termination, the Executive he shall receive only his those amounts earned but unpaid Base Salary as not distributed under the relevant plan, program or practice of the date of his terminationCompany.

Severance Upon Termination. If, during the Term, If the Executive's employment is terminated by the Company without Cause, or the Executive shall terminate employment for Good Reason prior to other than upon an Executive Change or upon a Change in Control of the Company (the date of termination is referred to as the "Termination Date")Company, then the Company shall pay the Executive in lieu of other damages, an amount (the "Severance Payments") equal to his then current Base Salary payable in installments at the same time the Company pays salary to its other senior executive employees payable over the longer of (i) the balance of the Term or (ii) one year two years (the period over which the Severance Payments are made is referred to as the "Severance Period"). If Executive shall terminate his employment upon an Executive Change, then the Company shall pay the Executive in lieu of other damages, an amount equal to the Executive's then current Base Salary payable in installments over one year, which shall be the Severance Period. The Company shall have no liability to make any Severance Payments severance payments as provided for in this paragraph unless (i) the Executive executes a General Release in a form substantially as set forth in Exhibit A attached hereto and (ii) the Executive complies with all provisions in Section 8 (Restrictive Covenants). Such amount shall reduce the amount of any other severance payment that otherwise would have been payable to the Executive under any other Company plan, program or arrangement. In addition, (i) any Company stock options not vested at the time of termination shall immediately become vested and remain exercisable for their term as if Executive's employment had not been terminated and (ii) the Company shall maintain during the lesser of the balance of the Term immediately prior to such termination or the Severance Period all employee benefit plans and programs which the Executive participated in immediately prior to such termination other than bonus, incentive compensation and similar plans based on performance, provided the Executive's participation is permissible under the general terms and provisions of such plans and applicable lawplans. In the event of If Executive causes a Voluntary Termination, the Executive he shall receive only his those amounts earned but unpaid Base Salary as not distributed under the relevant plan, program or practice of the date of his terminationCompany.