Common use of Change in Control Severance Payment Clause in Contracts

Change in Control Severance Payment. In the event the Employee's employment is terminated without cause or pursuant to Section 4.4 of this Agreement within 24 months following a Change in Control (as defined below) of the Company, the Company shall make a one-time lump sum severance payment (the "Change in Control Severance Payment") to the Employee in an amount equal to the product of _____ multiplied by his Annual Base Salary. In such event, the Employee shall not be entitled to the payments to which he would otherwise be entitled pursuant to Section 5.1(a), but shall continue to be entitled to benefits provided by the Company pursuant to and in accordance with Section 5.1(e).