Common use of Agreement by the Company Clause in Contracts

Agreement by the Company. Prior to the execution of this Agreement, Company will pay Executive all Base Salary and for the value of all unused vacation earned through the date of termination. Company will also pay Executive for any Target Bonus awarded by the Board of Directors but not yet paid. In exchange for Executive’s agreement to the releases and other terms and conditions of this Agreement, the Company agrees to provide Executive, after the Effective Date (as defined below) of this Agreement, a total gross lump sum payment of $ , which is equal to (a) 1 year of his Base Salary based upon his current Base Salary of $ ; (b) plus $ , which is equal [_______]. [Insert other benefits if applicable.]

Agreement by the Company. Prior to the execution of this Agreement, Company will pay Executive all Base Salary and for the value of all unused vacation earned through the date of termination. Company will also pay Executive for any Target Bonus awarded by the Board of Directors but not yet paid. In exchange for Executive’s agreement to the releases and other terms and conditions of this Agreement, the Company agrees to provide Executive, after the Effective Date (as defined below) of this Agreement, a total gross lump sum payment of $ $___, which is equal to (a) 1 year of his Base Salary based upon his current Base Salary of $ $___; (b) plus $ $___, which is equal [_________]. [Insert other benefits if applicable.]