Common use of Termination; Payment of Accrued Base Salary Clause in Contracts

Termination; Payment of Accrued Base Salary. The Company may terminate Executive’s employment at any time other than for Cause or disability by providing written notice to Executive. The Executive may terminate his employment with Good Reason (defined below) pursuant to the procedures set forth in Section 6(d)(v). In either event (unless such termination would be covered by Section 6(e) below), and contingent upon Executive’s execution of a release in accordance with Section 6(d)(vi), the Company shall pay Executive as severance (A) subject to Section 6(d)(ii), an amount equal to 12 months of Executive’s then Base Salary, less standard withholdings for tax and social security purposes, payable over such 12 month term in bi-weekly pro rata payments on the Company’s regularly scheduled payroll dates following the Termination Date; (B) an amount equal to (x) any earned but unpaid bonus payable under the Company’s annual incentive plan and (y) a pro rata portion of Executive’s target bonus under the Company’s annual incentive plan based on the number of days worked within the applicable incentive program period during which the termination occurred; (C) the premiums for continued coverage in the Company’s health and welfare plans under the continuation coverage provisions of COBRA for a period of 12 months following the Termination Date (or the cash equivalent of such amount); and (D) the Guaranteed Payments set forth in Section 6(a)(ii).

Termination; Payment of Accrued Base Salary. The Company may terminate Executive’s employment at any time other than for Cause or disability by providing written notice to Executive. The Executive may terminate his employment with Good Reason (defined below) pursuant to the procedures set forth in Section 6(d)(v). In either event (unless such termination would be covered by Section 6(e) below), and contingent upon Executive’s execution of a release in accordance with Section 6(d)(vi), the Company shall pay Executive as severance (A) subject to Section 6(d)(ii), . an amount equal to 12 months of Executive’s then Base Salary, less standard withholdings for tax and social security purposes, payable over such 12 month term in bi-weekly pro rata payments on the Company’s regularly scheduled payroll dates following the Termination Date; (B) an amount equal to (x) any earned but unpaid bonus payable under the Company’s annual incentive plan and (y) a pro rata portion of Executive’s target bonus under the Company’s annual incentive plan based on the number of days worked within the applicable incentive program period during which the termination occurred; (C) the premiums for continued coverage in the Company’s health and welfare plans under the continuation coverage provisions of COBRA for a period of 12 months following the Termination Date (or the cash equivalent of such amount); and (D) the Guaranteed Payments set forth in Section 6(a)(ii).