Common use of Xxxxxxxxx Xxxefits Clause in Contracts

Xxxxxxxxx Xxxefits. If the Employee's employment with Employer is terminated (i) by Employer (or by the acquiring or successor business entity following a Change of Control) other than for Cause or death, or (ii) by the Employee for Good Reason, in either event within a period beginning one hundred and eighty (180) days before, and ending two (2) years after, the date of a Change of Control (the "Change Period"), the Employee shall receive a severance benefit in an amount equal to the sum of: (1) the Employee's highest annual cash base salary in effect within two (2) years immediately preceding the Change of Control; plus (2) the average of the Employee's annual bonuses paid for the two (2) calendar years immediately preceding the Change of Control. In addition, for eighteen months following the date of termination of the Employee's employment in circumstances in which a severance payment is due hereunder, Employer shall provide the Employee health and other welfare benefits that are not less favorable to the Employee than those to which he was entitled immediately prior to the Change in Control. Provided however, Employer shall have no obligation to provide Employee with any compensation under this Paragraph 7 if Employee is in breach or violation of any of the covenants contained in Paragraph 4.

Xxxxxxxxx Xxxefits. If the Employee's employment with Employer is terminated (i) by Employer (or by the acquiring or successor business entity following a Change of Control) other than for Cause or death, or (ii) by the Employee for Good Reason, in either event within a period beginning one hundred and eighty (180) days before, and ending two (2) years after, the date of a Change of Control (the "Change Period"), the Employee shall receive a severance benefit in an amount equal to the sum of: (1) the Employee's highest annual cash base salary in effect within two (2) years immediately preceding the Change of Control; plus (2) the average of the Employee's annual bonuses paid for the two (2) calendar years immediately preceding the Change of Control. In addition, for eighteen (18) months following the date of termination of the Employee's employment in circumstances in which a severance payment is due hereunder, Employer shall provide the Employee health and other welfare benefits that are not less favorable to the Employee than those to which he was entitled immediately prior to the Change in Control. Provided however, Employer shall have no obligation to provide Employee with any compensation under this Paragraph 7 if Employee is in breach or violation of any of the covenants contained in Paragraph 4.

Xxxxxxxxx Xxxefits. If the Employee's employment with Employer is terminated (i) by Employer (or by the acquiring or successor business entity following a Change of Control) other than for Cause or death, or (ii) by the Employee for Good Reason, in either event within a period beginning one hundred and eighty (180) days before, and ending two (2) years after, the date of a Change of Control (the "Change Period"), the Employee shall receive a severance benefit in an amount equal to the sum of: (1) the Employee's highest annual cash base salary in effect within two (2) years immediately preceding the Change of Control; plus (2) the average of the Employee's annual bonuses paid for the two (2) calendar years immediately preceding the Change of Control. In addition, for eighteen (18) months following the date of termination of the Employee's employment in circumstances in which a severance payment is due hereunder, Employer shall provide the Employee health and other welfare benefits that are not less favorable to the Employee than those to which he she was entitled immediately prior to the Change in Control. Provided however, Employer shall have no obligation to provide Employee with any compensation under this Paragraph 7 if Employee is in breach or violation of any of the covenants contained in Paragraph 4.