Common use of Additional Lump Sum Payment Clause in Contracts

Additional Lump Sum Payment. Employee shall be entitled to receive payment, in a lump sum payable six months after the termination of the Agreement, in the following amounts: (i) if the termination occurs prior to January 1, 2007 $225,000; (ii) if the termination occurs on or after January 1, 2007 — $225,000 plus $13,542 for each month (or partial month) of employment with FCMC after December 31, 2006. However, in no event shall the amount paid pursuant to this subsection exceed Employee’s salary as of the date of such termination plus an amount equal to the value of Employee’s total benefits for the prior twelve (12) month period, as of the date of such termination.

Additional Lump Sum Payment. Employee shall be entitled to receive payment, in a lump sum payable six months and one day after the termination of the Agreement, in the following amounts: (i) if the termination occurs prior to January 1, 2007 - $225,000; (ii) if the termination occurs on or after January 1, 2007 — - $225,000 plus $13,542 for each month (or partial month) of employment with FCMC after December 31, 2006. However, in no event shall the amount paid pursuant to this subsection exceed Employee’s salary as of the date of such termination plus an amount equal to the value of Employee’s total benefits for the prior twelve (12) month 12)-month period, as of the date of such termination.