Common use of Liquidation of Company Clause in Contracts

Liquidation of Company. In the event that the Executive's ---------------------- employment with the Company is terminated by the Company or its estate following or in connection with the conversion of the Company's Chapter 11 Case to a case under Chapter 7 of the United States Bankruptcy Code or other liquidation of the Company the Severance Payment shall be a payment equal to Executive's Annual Base Salary for a period of 8 months made to the Executive in a single lump sum cash payment within ten (10) business days of the Termination Date, which payment shall not by offset by salary, earned income, deferred income or other income earned by the Executive from other Employment.

Liquidation of Company. In the event that the Executive's ---------------------- employment with the Company is terminated by the Company or its estate following or in connection with the conversion of the Company's Chapter 11 Case to a case under Chapter 7 of the United States Bankruptcy Code or other liquidation of the Company Company, the Severance Payment shall be a payment equal to Executive's Annual Base Salary for a period of 8 12 months made to the Executive in a single lump sum cash payment within ten (10) business days of the Termination Date, Date,(3) which payment shall not by offset by salary, earned income, deferred income or other payment income earned by the Executive from other Employmentemployment.

Liquidation of Company. In the event that the Executive's ---------------------- employment with the Company is terminated by the Company or its estate following or in connection with the conversion of the Company's Chapter 11 Case to a case under Chapter 7 of the United States Bankruptcy Code or other liquidation of the Company Company, the Severance Payment shall be a payment equal to Executive's Annual Base Salary for a period of 8 12 months made to the Executive in a single lump sum cash payment within ten (10) business days of the Termination Date, which payment shall not by offset by salary, earned income, deferred income or other income earned by the Executive from other Employment.

Liquidation of Company. In the event that the Executive's ---------------------- employment with the Company is terminated by the Company or its estate following or in connection with the conversion of the Company's Chapter 11 Case to a case under Chapter 7 of the United States Bankruptcy Code or other liquidation of the Company Company, the Severance Payment shall be a payment equal to Executive's Annual Base Salary for a period of 8 12 months made to the Executive in a single lump sum cash payment within ten (10) business days of the Termination Date, Date,(4) which payment shall not by offset by salary, earned income, deferred income or other payment income earned by the Executive from other Employmentemployment.

Liquidation of Company. In the event that the Executive's employment ---------------------- employment with the Company is terminated by the Company or its estate following or in connection with the conversion of the Company's Chapter 11 Case to a case under Chapter 7 of the United States Bankruptcy Code or other liquidation of the Company Company, the Severance Payment shall be a payment equal to Executive's Annual Base Salary for a period of 8 12 months made to the Executive in a single lump sum cash payment within ten (10) business days of the Termination Date, which payment shall not by offset by salary, earned income, deferred income or other income earned by the Executive from other Employment.

Liquidation of Company. In the event that the Executive's ---------------------- ’s employment with the Company is terminated by the Company or its estate following or in connection with the conversion of the Company's ’s Chapter 11 Case to a case under Chapter 7 of the United States Bankruptcy Code or other liquidation of the Company the Severance Payment shall be a payment equal to Executive's ’s Annual Base Salary for a period of 8 months made to the Executive in a single lump sum cash payment within ten (10) business days of the Termination Date, which payment shall not by offset by salary, earned income, deferred income or other income earned by the Executive from other Employment.