Common use of Continuation of Base Salary Clause in Contracts

Continuation of Base Salary. The Company will pay Executive an amount equivalent to 15 months of Executive’s Base Salary as in effect immediately prior to the Termination Date, payable in accordance with the Company’s normal payroll schedule and payroll practices in effect from time to time, subject to all applicable withholdings and deductions. Provided, however, that if the Termination Date was preceded by a period of illness leave, then the Base Salary continuation shall be an amount equivalent to 15 months of Executive’s Base Salary as in effect immediately prior to the Executive’s illness leave. In the event that Executive is made redundant, then any statutory redundancy payment to which Executive is entitled shall be calculated as of the Termination Date. The amount of the statutory redundancy payment shall be subtracted from Executive’s base salary continuation and paid out in a lump sum following the expiration of a waiting period of that period of time which it would otherwise have taken Executive to receive the equivalent of the statutory redundancy payment under the Company’s normal payroll schedule and payroll practices in effect as of the Termination Date.