Specified CIC Severance Pay Sample Clauses

Specified CIC Severance Pay. In the event that a Specified Change in Control (as defined in Exhibit A) occurs during the twelve-month period following the Separation Date, and provided that as of such date Executive continues to perform services for the Company pursuant to the Consulting Agreement (unless Executive previously terminated the Consulting Agreement due to the Company’s material breach pursuant to Section 3(a)(ii) of the Consulting Agreement) the Company will pay to Executive, in addition to the Severance Pay, an amount equal to (x) $1,543,228, less (y) any Consulting Fees and Severance Pay paid to Executive prior to the Specified Change in Control (the “Specified CIC Severance Pay”). Any Specified CIC Severance Pay will be paid in one lump sum within fourteen (14) business days following the Specified Change in Control. Other than the Accrued Obligations and the Severance Benefits, including the payments and benefits provided under the Consulting Agreement, Executive will not be eligible for, nor shall Executive have a right to receive, any payments, benefits or other consideration from the Company following the Separation Date.