Common use of The Accrued Benefits Clause in Contracts

The Accrued Benefits. (iii) An amount equal to the greater of (x) Executive's Base Salary at its highest annual rate during the one year period prior to such Nonqualifying Event and (y) the sum of (A) 50% of such Base Salary plus (B) the product of 1/12 of such Base Salary times Executive's full and partial years of employment with the Company ("Years of Service") (such greater amount, the "Basic Termination Benefit"), which such Benefit shall be payable in cash in equal installments at the times and in accordance with the applicable Company payroll system over a period of months equal to the greater of (C) 12 and (D) the sum of 6 plus Executive's Years of Service (the greater of (C) and (D), the "Payment Period");