Common use of Additional Change in Control Payment Clause in Contracts

Additional Change in Control Payment. Upon the termination of the Employment Period (x) by the Employer without Cause upon or prior to a Change in Control, provided that the Employee reasonably demonstrates that such termination occurred at the request of a third party participating in, or otherwise in anticipation of or in connection with, such Change in Control, or (y) by the Employee with Good Reason or by the Employer for any reason other than for Cause within one year after a Change in Control, then the Employer shall pay to the Employee an amount (in addition to the amount payable under the first sentence of Section 3(e)(i)) equal to the sum of (A) the higher of (1) the Employee's annual Base Salary at the date of such termination or (2) the Employee's annual Base Salary at the time of the Change in Control, in each case multiplied by 2, and (B) the Severance Bonus Amount multiplied by 2. If the Employment Period is terminated by the Employee for any reason other than with Good Reason on or after the first anniversary of a Change in Control but no later than the 30th day after such first anniversary, the Employee shall be entitled to 50% of the payments specified in this Section 3(e)(iii). If the Employment Period is terminated by the Employee with Good Reason at any time on or after the first anniversary of a Change in Control, the Employee shall be entitled to the payment specified in Section 3(e)(ii). The Employer may pay the amount (if any) owed to the Employee pursuant to this Section 3(e)(iii) in equal installments pursuant to the Employer's customary pay practices over a period of (X) 24 months, in the event of termination pursuant to the first sentence of this Section 3(e)(iii), or (Y) 12 months, in the event of termination pursuant to the second sentence of this Section 3(e)(iii); provided, however, that the Employee may, at any time more than 6 months after the date of termination, require the Employer to pay all amounts that then remain outstanding under this Section 3(e)(iii) in a lump sum payment to be made within 10 days.

Additional Change in Control Payment. Upon the termination of the Employment Period (x) by the Employer without Cause upon or prior to a Change in Control, provided that the Employee reasonably demonstrates that such termination occurred at the request of a third party participating in, or otherwise in anticipation of or in connection with, such Change in Control, or (y) by the Employee with Good Reason or by the Employer for any reason other than for Cause within one year after a Change in Control, then the Employer shall pay to the Employee an amount (in addition to the amount payable under the first sentence of Section 3(e)(i)) equal to the sum of (A) the higher of (1) the Employee's annual Base Salary at the date of such termination or (2) the Employee's annual Base Salary at the time of the Change in Control, in each case multiplied by 2three, and (B) the Severance Bonus Amount multiplied by 2three. If the Employment Period is terminated by the Employee for any reason other than with Good Reason on or after the first anniversary of a Change in Control but no later than the 30th day after such first anniversary, the Employee shall be entitled to 50% of the payments specified in this Section 3(e)(iii). If the Employment Period is terminated by the Employee with Good Reason at any time on or after the first anniversary of a Change in Control, the Employee shall be entitled to the payment specified in Section 3(e)(ii). The Employer may pay the amount (if any) owed to the Employee pursuant to this Section 3(e)(iii) in equal installments pursuant to the Employer's customary pay practices over a period of (X) 24 36 months, in the event of termination pursuant to the first sentence of this Section 3(e)(iii), or (Y) 12 18 months, in the event of termination pursuant to the second sentence of this Section 3(e)(iii); provided, however, that the Employee may, at any time more than 6 months after the date of termination, require the Employer to pay all amounts that then remain outstanding under this Section 3(e)(iii) in a lump sum payment to be made within 10 days.

Additional Change in Control Payment. Upon the termination of the Employment Period (x) by the Employer without Cause upon or prior to a Change in Control, provided that the Employee reasonably demonstrates that such termination occurred at the request of a third party participating in, or otherwise in anticipation of or in connection with, such Change in Control, or (y) by the Employee with Good Reason or by the Employer for any reason other than for Cause within one year after a Change in Control, then the Employer shall pay to the Employee an amount (in addition to the amount payable under the first sentence of Section 3(e)(i)) equal to the sum of (A) the higher of (1) the Employee's annual Base Salary at the date of such termination or (2) the Employee's annual Base Salary at the time of the Change in Control, in each case multiplied by 21.5, and (B) the Severance Bonus Amount multiplied by 21.5. If the Employment Period is terminated by the Employee for any reason other than with Good Reason on or after the first anniversary of a Change in Control but no later than the 30th day after such first anniversary, the Employee shall be entitled to 50% of the payments specified in this Section 3(e)(iii). If the Employment Period is terminated by the Employee with Good Reason at any time on or after the first anniversary of a Change in Control, the Employee shall be entitled to the payment specified in Section 3(e)(ii). The Employer may pay the amount (if any) owed to the Employee pursuant to this Section 3(e)(iii) in equal installments pursuant to the Employer's customary pay practices over a period of (X) 24 18 months, in the event of termination pursuant to the first sentence of this Section 3(e)(iii), or (Y) 12 9 months, in the event of termination pursuant to the second sentence of this Section 3(e)(iii); provided, however, that the Employee may, at any time more than 6 months after the date of termination, require the Employer to pay all amounts that then remain outstanding under this Section 3(e)(iii) in a lump sum payment to be made within 10 days.