Common use of Pay Continuation Clause in Contracts

Pay Continuation. The Employee shall be entitled to monthly payments equal to (A) one-twelfth (1/12) of the greater of the Base Compensation in effect immediately prior to the Change of Control and the Base Compensation in effect immediately prior to such termination plus (B) one-thirty-sixth (1/36) of the aggregate amounts paid to the Employee under the Company’s bonus and incentive programs with respect to the three previous calendar years. Such monthly payments shall be paid according to the normal payroll practice of the Company for 18 months following the date of termination (the “Termination Period”).

Pay Continuation. The Employee shall be entitled to monthly payments equal to (A) one-twelfth (1/12) of the greater of the Base Compensation in effect immediately prior to the Change of Control and the Base Compensation in effect immediately prior to such the termination of employment plus (B) one-thirty-sixth (1/36) of the aggregate amounts paid to the Employee under the Company’s bonus and incentive programs with respect to the three previous calendar years. Such monthly payments shall be paid according to the normal payroll practice of the Company for 18 twelve (12) months following the effective date of termination the Release (the “Termination Period”).