Common use of Amount of Change in Control Payment Clause in Contracts

Amount of Change in Control Payment. The Change in Control Payment shall be a lump sum payment as follows: For a Change in Control during Year 1 after the Effective Date…………………….. $500,000 2. For a Change in Control during Year 2 after the Effective Date…………………….. $375,000 3. For a Change in Control during Year 3 after the Effective Date…………………….. $250,000 4. For a Change in Control during Year 4 after the Effective Date…………………….. $125,000 Upon the expiration of four years after the Effective Date, there will be no obligation under any circumstance to make a Change in Control Payment to Employee.

Amount of Change in Control Payment. The Change in Control Payment shall be a lump sum payment as follows: For a Change in Control during Year 1 after the Effective Date…………………….. Date $500,000 2. For a Change in Control during Year 2 after the Effective Date…………………….. Date $375,000 3. For a Change in Control during Year 3 after the Effective Date…………………….. Date $250,000 4. For a Change in Control during Year 4 after the Effective Date…………………….. Date $125,000 Upon the expiration of four years after the Effective Date, there will be no obligation under any circumstance to make a Change in Control Payment to Employee.

Amount of Change in Control Payment. The Change in Control Payment shall be a lump sum payment as follows: 1. For a Change in Control during Year 1 after the Effective Date…………………….. Date $500,000 2. For a Change in Control during Year 2 after the Effective Date…………………….. Date $375,000 3. For a Change in Control during Year 3 after the Effective Date…………………….. Date $250,000 4. For a Change in Control during Year 4 after the Effective Date…………………….. Date $125,000 Upon the expiration of four years after the Effective Date, there will be no obligation under any circumstance to make a Change in Control Payment to Employee.