Common use of BENEFITS IN THE EVENT Clause in Contracts

BENEFITS IN THE EVENT. OF A TERMINATION WITHOUT CAUSE OR A TERMINATION FOR GOOD REASON. In the event of a Termination Without Cause or a Termination for Good Reason the Executive shall be entitled to the following: If a Termination Without Cause or a Termination for Good Reason occurs at any time other than during the CIC Coverage Period, the Company shall be obligated to make an undiscounted lump sum payment to the Executive equal to the Executive's Annual Base Salary as in effect on the effective date of such termination (without giving effect to any reduction in Annual Base Salary described in Section 6(c)(i) hereof), such payment to be made within ten (10) business days of the effective date of such Termination Without Cause or Termination for Good Reason, as the case may be. If a Termination Without Cause or a Termination for Good Reason occurs during the CIC Coverage Period, the Executive shall be entitled to an undiscounted lump sum payment equal to the product of (A) the Executive's Annual Base Salary as in effect on the effective date of such termination (without giving effect to any reduction in Annual Base Salary described in Section 6(c)(i) hereof) and (B) two (2) years.