Common use of Severance Protection Clause in Contracts

Severance Protection. Subject to Section 6 below, you will be entitled to the following severance benefits under this Section 5 if the Company terminates your employment without Cause or you resign for Good Reason at any time: (a) Salary continuation in an amount equal to the sum of (i) 100% of your then current Base Salary for twelve months and (ii) an amount equal to any accrued but unused vacation days, with such payments commencing on the earliest payroll date that does not result in adverse tax consequences to you under Section 409A of the Code (“Section 409A”). (b) Subject to your continued co-payment of premiums, continued participation for twelve months in all medical, dental and vision plans which cover you (and eligible dependents) upon the same terms and conditions (except for the requirements of your continued employment) in effect for active employees of the Company. If you obtain other employment that offers substantially similar or improved benefits, as to any particular medical, dental or vision plan, such continuation of coverage by the Company for such similar or improved benefit under such plan under this Section 5(b) will immediately cease. The continuation of health benefits under this subparagraph shall reduce and count against your rights under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

Severance Protection. Subject to Section 6 below, you will be entitled to the following severance benefits under this Section 5 if the Company terminates your employment without Cause or you resign for Good Reason at any time: (a) Salary continuation in an amount equal to the sum of (i) 100% of your then current Base Salary for twelve months and (ii) an amount equal to any accrued but unused vacation days, with such payments commencing on the earliest payroll date that does not result in adverse tax consequences to you under Section 409A of the Code (“Section 409A”)Code. (b) Subject to your continued co-payment of premiums, continued participation for twelve months in all medical, dental and vision plans which cover you (and eligible dependents) upon the same terms and conditions (except for the requirements of your continued employment) in effect for active employees of the Company. If you obtain other employment that offers substantially similar or improved benefits, as to any particular medical, dental or vision plan, such continuation of coverage by the Company for such similar or improved benefit under such plan under this Section 5(b) will immediately cease. The continuation of health benefits under this subparagraph shall reduce and count against your rights under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.