Common use of Severance Compensation in the Event of a Termination Upon a Change in Control Clause in Contracts

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of 12 months from the date of termination of this Agreement, on the dates specified in Section 3.1, and an amount equal to the average annual bonus earned by the Employee in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer a lump sum severance payment by bank cashier's check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, the Employer shall make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee's election. The Employee shall also be entitled to an accelerated vesting of any awards granted to the Employee under Cybex's stock option plans. The Employee shall be provided with medical plan benefits under any health plans of Cybex or the Employer in which the Employee is a participant to the full extent of the Employee's rights under such plans for a period of 12 months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex or the Employer in which the Employee is a participant, including any such perquisites, shall cease upon employment by a new employer.

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of 12 18 months from the date of termination of this Agreement, on the dates specified in Section 3.1, and an amount equal to fifty percent (50%) of the average annual bonus earned by the Employee in the two (2) years immediately preceding the date of termination. ; provided, however, that in the event the Employee votes his shares of the common stock of Cybex in favor the Change in Control, the prior sentence shall be deemed to be amended to substitute "9 months" for "18 months." Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer a lump sum severance payment by bank cashier's check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, the Employer shall make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee's election. The Employee shall also be entitled to an accelerated vesting of any awards granted to the Employee under Cybex's stock option plans. The Employee shall be provided with medical plan benefits under any health plans of Cybex or the Employer in which the Employee is a participant to the full extent of the Employee's rights under such plans for a period of 12 18 months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex or the Employer in which the Employee is a participant, including any such perquisites, shall cease upon employment by a new employer.

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in EMPLOYEE elects to terminate this Agreement as a result of a Termination Upon a A Change in In Control, the Employee shall be paid as severance compensation his EMPLOYEE's Base Salary (at the rate payable at the time of such termination) shall be continued in semi-monthly installments for a period of 12 18 months from the effective date of termination of this Agreement, on the dates specified in Section 3.1, and an amount equal to the average annual bonus earned by the Employee in the two (2) years immediately preceding the date of such termination. Notwithstanding anything in this Section 4.1 5.4 to the contrary, the Employee may in the Employee's sole discretionEMPLOYEE may, by delivery anytime following notification of a notice to the Employer within thirty (30) days following a Termination Upon a A Change in In Control, elect submit to receive from the Employer Chief Executive Officer a written request for a lump sum severance payment by bank cashier's check equal to the present value total of the flow of all unpaid cash payments that would otherwise be paid to the Employee EMPLOYEE pursuant to this Section 4.1. Such present value 5.4, which request shall not be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the Wall Street Journal (or similar publication), on the date of delivery of the election noticeunreasonably denied. If the Employee Chief Executive Officer elects to receive grant the request for a lump sum severance payment, the Employer shall TOKOX xxxll make such payment to the Employee EMPLOYEE within ten (10) 20 days following the date on which EMPLOYEE requests a lump sum severance payment or the Employee notifies effective date of such termination, whichever occurs earlier. In the Employer event that the Chief Executive Officer elects to deny such request, TOKOX xxxll provide security, satisfactory to EMPLOYEE, which approval shall not be unreasonably withheld, to ensure payment of all amounts owing to EMPLOYEE when due. In addition to the Employee's electionseverance payment payable under this Section 5.4, EMPLOYEE shall be paid an amount equal to 1.5 times the highest bonus earned by EMPLOYEE as an employee of TOKOX. The Employee XMPLOYEE shall also be entitled to an accelerated vesting of any awards granted to the Employee EMPLOYEE under CybexTokox' Xxcentive Stock Option Plan with no acceleration, however, of EMPLOYEE's stock option plansrights to exercise such awards. The Employee EMPLOYEE, shall be provided with medical plan entitled, at no cost to EMPLOYEE, to participate in the full executive program of any outplacement firm, acceptable to both EMPLOYEE and TOKOX, xxtil EMPLOYEE's reemployment by another employer. In addition to the cost of such outplacement program, to the extent that any part of such cost constitutes income to EMPLOYEE for state or federal income tax purposes, TOKOX xxxll "gross-up" such amount to compensate EMPLOYEE for all taxes she may be required to pay. EMPLOYEE shall continue to accrue retirement benefits and shall continue to enjoy any benefits under any health plans of Cybex or the Employer in TOKOX xx which the Employee EMPLOYEE is a participant to the full extent of the EmployeeEMPLOYEE's rights under such plans plans, including any perquisites provided under this Agreement, for a the 18 month period of 12 months from the effective date of termination of this Agreementsuch termination; provided, however, that the benefits under any such plans of Cybex or the Employer TOKOX (xxher than Tokox' Xxcentive Stock Option Plan) in which the Employee EMPLOYEE is a participant, including any such perquisitesprerequisites, shall cease upon EMPLOYEE's re-employment by a new another employer.

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of 12 months from the date of termination of this Agreement, on the dates specified in Section 3.1, and an amount equal to the average annual bonus earned by the Employee in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer a lump sum severance payment by bank cashier's check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, the Employer shall make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee's election. The Employee shall also be entitled to an accelerated vesting of any awards granted to the Employee under CybexEmployer's stock option plans. The Employee shall be provided with medical plan benefits under any health plans of Cybex or the Employer in which the Employee is a participant to the full extent of the Employee's rights under such plans for a period of 12 months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex or the Employer in which the Employee is a participant, including any such perquisites, shall cease upon employment by a new employer.

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of 12 twelve (12) months from the date of termination of this Agreement, on the dates specified in Section 3.1, and an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer a lump sum severance payment by bank cashier's check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer shall to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee's election. The Employee shall also be entitled to an accelerated have the vesting of any awards granted to the Employee under Cybex's any Apex or Avocent stock option plansplans fully accelerated. The Employee shall be provided with medical plan benefits under any health plans of Cybex Avocent or the Employer in which the Employee is a participant to the full extent of the Employee's rights under such plans for a period of 12 months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex Employer or the Employer Avocent in which the Employee is a participant, including any such perquisites, shall cease upon employment by a new employer.

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in of a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of 12 twelve (12) months from the date of termination of this Agreementsuch Termination Upon a Change in Control, on the dates specified in Section 3.1, and the Employee shall also be paid an amount equal to the average annual bonus earned by the Employee after the Merger as an employee of Avocent Corporation and its affiliates in the two (2) years (or such lesser period following the Merger) immediately preceding the date of termination. Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's ’s sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer a lump sum severance payment by bank cashier's ’s check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer shall to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee's ’s election. The Employee shall also be entitled to an accelerated have the vesting of any awards granted to the Employee under Cybex's any Avocent stock option plansplans fully accelerated. The Employee shall be provided with medical plan benefits under any health plans of Cybex Avocent or the Employer in which the Employee is a participant to the full extent of the Employee's ’s rights under such plans for a period of 12 months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex or the Employer in which the Employee is a participant, including any such perquisites, shall cease upon employment by a new employer.of

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in of a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his her Base Salary (at the rate payable at the time of such termination) for a period of 12 twelve (12) months from the date of termination of this Agreementsuch Termination Upon a Change in Control, on the dates specified in Section 3.1, and the Employee shall also be paid an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's ’s sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer a lump sum severance payment by bank cashier's ’s check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer shall to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee's ’s election. The Employee shall also be entitled to an accelerated have the vesting of any awards granted to the Employee under Cybex's any Avocent stock option plansoption, restricted stock, performance share, or other equity plans deemed and treated as fully earned and accelerated. The Employee shall be provided with medical plan benefits under any health plans of Cybex Avocent or the Employer in which the Employee is a participant to the full extent of the Employee's ’s rights under such plans for a period of 12 twelve (12) months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex or the Employer Termination Upon a Change in which the Control (even if Employee is elects to receive a participant, including any such perquisites, shall cease upon employment by a new employerlump sum severance payment).

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in of a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of 12 twelve (12) months from the date of termination of this Agreement, on the dates specified in Section 3.1, and an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's ’s sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer a lump sum severance payment by bank cashier's ’s check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-–day U.S. Treasury bills, as reported in the The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer shall to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee's ’s election. The Employee shall also be entitled to an accelerated have the vesting of any awards granted to the Employee under Cybex's any Cybex or Avocent stock option plansplans fully accelerated. The Employee shall be provided with medical plan benefits under any health plans of Cybex Avocent or the Employer in which the Employee is a participant to the full extent of the Employee's ’s rights under such plans for a period of 12 months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex or the Employer in which the Employee is a participant, including any such perquisites, shall cease upon employment by a new employer.

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in of a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of 12 twelve (12) months from the date of termination of this Agreementsuch Termination Upon a Change in Control, on the dates specified in Section 3.1, and the Employee shall also be paid an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's ’s sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer a lump sum severance payment by bank cashier's ’s check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer shall to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee's ’s election. The Employee shall also be entitled to an accelerated have the vesting of any awards granted to the Employee under Cybex's any AHC or Avocent stock option plansplans fully accelerated. The Employee shall be provided with medical plan benefits under any health plans of Cybex Avocent or the Employer in which the Employee is a participant to the full extent of the Employee's ’s rights under such plans for a period of 12 twelve (12) months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex or the Employer Termination Upon a Change in which the Control (even if Employee is elects to receive a participant, including any such perquisites, shall cease upon employment by a new employerlump sum severance payment).

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) ), for a period of 12 six (6) months from the date of termination of this Agreement, Agreement on the dates specified in Section 3.1, and an amount equal to the average annual bonus earned by the Employee in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's sole discretion, by delivery of a notice to the Employer Company within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer Company a lump sum severance payment by bank cashier's check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, the Employer Company shall make such payment to the Employee within ten (10) days following the date on which the Employee officer notifies the Employer Company of the Employee's election. In addition to the severance payment payable under this Section 4.1, the Employee shall be paid an amount equal to one-half of the average annual bonus earned by the Employee in the two (2) years immediately preceding the date of termination. The Employee shall also be entitled to an accelerated vesting of any awards granted to the Employee under Cybex's stock option plans. The Employee shall be provided with medical plan benefits under any health plans of Cybex or the Employer in which the Employee is a participant to the full extent of the Employee's rights under such plans for a period of 12 months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex or the Employer in which the Employee is a participant, including any such perquisites, shall cease upon employment by a new employer.Company's

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in of a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of 12 twelve (12) months from the date of termination of this Agreementsuch Termination Upon a Change in Control, on the dates specified in Section 3.1, and the Employee shall also be paid an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination. For any bonus calculation using the 2003 and/or 2004 calendar year bonus(es) (which were paid in 2004 and 2005, respectively), the bonus paid to Employee for such year(s) shall be doubled for purposes of this average bonus calculation. Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's ’s sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer a lump sum severance payment by bank cashier's ’s check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer shall to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee's ’s election. The Employee shall also be entitled to an accelerated have the vesting of any awards granted to the Employee under Cybex's any AHC or Avocent stock option plansplans fully accelerated. The Employee shall be provided with medical plan benefits under any health plans of Cybex Avocent or the Employer in which the Employee is a participant to the full extent of the Employee's ’s rights under such plans for a period of 12 twelve (12) months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex or the Employer Termination Upon a Change in which the Control (even if Employee is elects to receive a participant, including any such perquisites, shall cease upon employment by a new employerlump sum severance payment).

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in of a Termination Upon a Change in Control, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of 12 twelve (12) months from the date of termination of this Agreementsuch Termination Upon a Change in Control, on the dates specified in Section 3.1, and the Employee shall also be paid an amount equal to the average annual bonus earned by the Employee after the Merger as an employee of Avocent Corporation and its affiliates in the two (2) years (or such lesser period following the Merger) immediately preceding the date of termination. Notwithstanding anything in this Section 4.1 to the contrary, the Employee may in the Employee's ’s sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Upon a Change in Control, elect to receive from the Employer a lump sum severance payment by bank cashier's ’s check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.1. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer shall to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee's ’s election. The Employee shall also be entitled to an accelerated have the vesting of any awards granted to the Employee under Cybex's any AHC or Avocent stock option plansplans fully accelerated. The Employee shall be provided with medical plan benefits under any health plans of Cybex Avocent or the Employer in which the Employee is a participant to the full extent of the Employee's ’s rights under such plans for a period of 12 twelve (12) months from the date of termination of this Agreement; provided, however, that the benefits under any such plans of Cybex or the Employer Termination Upon a Change in which the Control (even if Employee is elects to receive a participant, including any such perquisites, shall cease upon employment by a new employerlump sum severance payment).

Severance Compensation in the Event of a Termination Upon a Change in Control. In the event the Employee's employment is terminated in EMPLOYEE elects to terminate this Agreement as a result of a Termination Upon a A Change in In Control, the Employee shall be paid as severance compensation his EMPLOYEE's Base Salary (at the rate payable at the time of such termination) shall be continued in semi-monthly installments for a period of 12 18 months from the effective date of termination of this Agreement, on the dates specified in Section 3.1, and an amount equal to the average annual bonus earned by the Employee in the two (2) years immediately preceding the date of such termination. Notwithstanding anything in this Section 4.1 5.5 to the contrary, the Employee may in the Employee's sole discretionEMPLOYEE may, by delivery anytime following notification of a notice to the Employer within thirty (30) days following a Termination Upon a A Change in In Control, elect submit to receive from the Employer Chief Executive Officer a written request for a lump sum severance payment by bank cashier's check equal to the present value total of the flow of all unpaid cash payments that would otherwise be paid to the Employee EMPLOYEE pursuant to this Section 4.1. Such present value 5.5, which request shall not be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate of 90-day U.S. Treasury bills, as reported in the Wall Street Journal (or similar publication), on the date of delivery of the election noticeunreasonably denied. If the Employee Chief Executive Officer elects to receive grant the request for a lump sum severance payment, the Employer shall TOKOX xxxll make such payment to the Employee EMPLOYEE within ten (10) 20 days following the date on which EMPLOYEE requests a lump sum severance payment or the Employee notifies effective date of such termination, whichever occurs earlier. In the Employer event that the Chief Executive Officer elects to deny such request, TOKOX xxxll provide security, satisfactory to EMPLOYEE, which approval shall not be unreasonably withheld, to ensure payment of all amounts owing to EMPLOYEE when due. In addition to the Employee's electionseverance payment payable under this Section 5.5, EMPLOYEE shall be paid an amount equal to 1.5 times the highest bonus earned by EMPLOYEE as an employee of TOKOX. The Employee XMPLOYEE shall also be entitled to an accelerated vesting of any awards granted to the Employee EMPLOYEE under CybexTokox' Xxcentive Stock Option Plan with no acceleration, however, of EMPLOYEE's stock option plansrights to exercise such awards. The Employee EMPLOYEE, shall be provided with medical plan entitled, at no cost to EMPLOYEE, to participate in the full executive program of any outplacement firm, acceptable to both EMPLOYEE and TOKOX, xxtil EMPLOYEE's reemployment by another employer. In addition to the cost of such outplacement program, to the extent that any part of such cost constitutes income to EMPLOYEE for state or federal income tax purposes, TOKOX xxxll "gross-up" such amount to compensate EMPLOYEE for all taxes hi may be required to pay. EMPLOYEE shall continue to accrue retirement benefits and shall continue to enjoy any benefits under any health plans of Cybex or the Employer in TOKOX xx which the Employee EMPLOYEE is a participant to the full extent of the EmployeeEMPLOYEE's rights under such plans plans, including any perquisites provided under this Agreement, for a the 18 month period of 12 months from the effective date of termination of this Agreementsuch termination; provided, however, that the benefits under any such plans of Cybex or the Employer TOKOX (xxher than Tokox' Xxcentive Stock Option Plan) in which the Employee EMPLOYEE is a participant, including any such perquisitesprerequisites, shall cease upon EMPLOYEE's re-employment by a new another employer.