Involuntary Termination Prior to a Change in Control. In the event that during the Term You incur an Involuntary Termination prior to a Change in Control, and subject to Sections 3, 4 and 8(g) below, You shall receive one year of base salary as in effect as of the Termination Date, payable on a bi-weekly schedule for a period of twelve (12) months, less all applicable withholding and other deductions (the “Severance Payments”).
Appears in 2 contracts
Sources: Severance Agreement (Presidential Life Corp), Severance Agreement (Presidential Life Corp)