Common use of Base Salary Severance Clause in Contracts

Base Salary Severance. Executive will receive base salary severance in an amount equal to the number of months set forth below based on the length of time Executive was employed by the Company (or any parent, subsidiary or successor of the Company) prior to the Executive’s termination date (the “Severance Period”) multiplied by Executive’s Base Salary Rate:  If Executive has been employed for less than twelve (12) months, three (3) months;  If Executive has been employed for twelve (12) to twenty-four (24) months, six (6) months; and  If Executive has been employed for twenty-four (24) or more months, nine (9) months. The base salary severance shall be paid to Executive at Executive’s Base Salary Rate in accordance with the Company’s normal payroll practices on the Company’s regularly scheduled payroll dates commencing with the first regularly scheduled payroll date that occurs at least 8 days following the Release Deadline, with the first payment being equal to the number of business days between Executive’s last day of employment and the date of the first payment multiplied by Executive’s daily Base Salary Rate.