Common use of Terminations in Connection with a Change in Control Clause in Contracts

Terminations in Connection with a Change in Control. If Executive’s employment shall terminate involuntarily without Cause or for Good Reason, within eighteen (18) months following a Change in Control, the Company shall provide Executive with the following severance payments and benefits in lieu of any severance benefits to which the Executive may otherwise be entitled to under any severance plan or program maintained by the Company: (i) Severance Payments: Pay to Executive an amount equal to twelve (12) months then current base salary, payable in a lump sum on the sixtieth (60th) day following the termination of employment.

Terminations in Connection with a Change in Control. If Executive’s employment shall terminate involuntarily without Cause or for Good Reason, within eighteen (18) months following a Change in Control, the Company shall provide Executive with the following severance payments and benefits in lieu of any severance benefits to which the Executive may otherwise be entitled to under any severance plan or program maintained by the Company: (i) Severance Payments: Pay to Executive an amount equal to twelve (12) months then current base salary, payable in a lump sum on the sixtieth as soon as reasonably practicable, but in any event no later than two and one-half (60th2 1/2) day months following the date of termination of employment.