Common use of Termination in Connection with Change of Control Clause in Contracts

Termination in Connection with Change of Control. (i) Severance. If, at any time within three months preceding and twelve months following a Change of Control (defined below) (the “CIC Protected Period”), either (A) the Company terminates Employee’s employment for any reason other than Cause, death or Disability or (B) Employee terminates employment for Good Reason; then, on the sixtieth (60th) day following such termination of employment, the Company shall pay Employee a lump sum amount equal to the sum of (1) twelve (12) months of the Base Salary at the rate in effect at the time of the termination of employment and (2) the target annual bonus of the year of termination (such sum the “CIC Severance Amount”).

Termination in Connection with Change of Control. (i) Severance. If, at any time within three months preceding and twelve months following a Change of Control (defined below) (the “CIC Protected Period”), either (A) the Company terminates Employee’s employment for any reason other than Cause, death or Disability or (B) Employee terminates employment for Good Reason; then, on the sixtieth (60th) day following such termination of employment, the Company shall pay Employee a lump sum amount equal to the sum of (1) twelve eighteen (1218) months of the Base Salary at the rate in effect at the time of the termination of employment and (2) 150% of the target annual bonus of the year of termination (such sum the “CIC Severance Amount”).