Common use of SPECIAL CHANGE IN CONTROL BENEFITS Clause in Contracts

SPECIAL CHANGE IN CONTROL BENEFITS. Should your employment with the Company terminate by reason of an Involuntary Termination within eighteen (18) months after a Change in Control, then you will become entitled to receive the severance benefits set forth in this Part Three. Notwithstanding the foregoing, you will only be entitled to receive such benefits if you execute and deliver to the Company, at the time of your Involuntary Termination, a fully executed, valid and binding Release. Furthermore, and notwithstanding anything else contained herein to the contrary, the Company shall have no obligation to pay you such benefits until after such Release has become irrevocable by you in accordance with all applicable laws, rules and regulations. In addition, your benefits under this Part Three will be subject to the limitations of Part Four and your compliance with the restrictive covenants set forth in Paragraph 1 of Part Five. Such benefits shall be in lieu of any other severance benefits to which you might otherwise, by reason of the termination of your employment, be entitled under any other severance plan, program, agreement or arrangement of the Company, including without limitation, any benefits under your Prior Agreement. In no event will you be entitled to benefits under both Part Two and Part Three of this letter agreement. The severance benefits to which you may become entitled pursuant to this Part Three are as follows: