Common use of Cash Severance after Termination Without Cause or Termination with Good Reason Clause in Contracts

Cash Severance after Termination Without Cause or Termination with Good Reason. If the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, on the first day of the seventh month after the month in which the Executive’s employment terminates the Employer shall pay to the Executive in a single lump sum cash in an amount equal to one times the highest annual compensation as reported on the Executive’s Form W-2 over the three-year period immediately preceding the year in which notice of employment termination is given, without discount for the time value of money. The Employer and the Executive acknowledge and agree that the compensation and benefits under this section 4.1 shall not be payable if compensation and benefits are payable or shall have been paid to the Executive under Article 5 of this Agreement.

Cash Severance after Termination Without Cause or Termination with Good Reason. If (a) Subject to the possibility that cash severance after employment termination might be delayed under section 4.1(b), if the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, on the first day of the seventh month 30 days after the month in which the Executive’s employment terminates termination the Employer shall pay to the Executive in a single lump sum cash in an amount equal to one two times the highest annual compensation as reported on the Executive’s Form W-2 over Base Salary on the three-year period immediately preceding the year in which date notice of employment termination is given, without discount for the time value of money. The Employer and the Executive acknowledge and agree that the compensation and benefits under this section 4.1 shall not be payable if compensation and benefits are payable or shall have been paid to the Executive under Article 5 of this Agreement.

Cash Severance after Termination Without Cause or Termination with Good Reason. If the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, on the first day of the seventh month after the month in which the Executive’s employment terminates the Employer shall pay to the Executive in a single lump sum cash in an amount equal to one times the highest annual compensation as reported on the Executive’s Form W-2 over Base Salary for the three-year period immediately preceding the year in which notice unexpired term of employment termination is giventhis Agreement, without discount for the time value of money. The Employer and the Executive acknowledge and agree that the compensation and benefits benefit under this section 4.1 shall not be payable if compensation and benefits are payable or shall have been paid to the Executive under Article 5 of this Agreement.

Cash Severance after Termination Without Cause or Termination with Good Reason. If the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, on the first day of the seventh month after the month in which the Executive’s employment terminates the Employer Corporation shall pay to the Executive in a single lump sum cash without discount for the time value of money in an amount equal to one times the highest annual compensation as reported on the Executive’s Form W-2 over the three-year period immediately preceding the year in which notice the employment of employment termination is given, without discount for the time value of moneyExecutive terminates. The Employer Corporation and the Executive acknowledge and agree that the compensation and benefits under this section 4.1 shall not be payable if if, on the date of termination, compensation and benefits are payable or shall have been paid to the Executive under Article 5 of this Agreement.

Cash Severance after Termination Without Cause or Termination with Good Reason. If the Executive’s employment terminates involuntarily but without Cause or voluntarily but with Good Reason, on the first day of the seventh month after the month in which the Executive’s employment terminates the Employer shall pay to the Executive in a single lump sum cash in an amount equal to one two times the highest annual compensation as reported on the Executive’s Form W-2 over the three-year period immediately preceding the year in which notice of employment termination is given, without discount for the time value of money. The Employer and the Executive acknowledge and agree that the compensation and benefits under this section 4.1 shall not be payable if compensation and benefits are payable or shall have been paid to the Executive under Article 5 of this Agreement.