Common use of Other Severance Clause in Contracts

Other Severance. In the event the Company's written severance pay policy applicable to Executive provides for greater severance pay and benefits than are provided for in Section 9(d) or 9(g), Executive may elect to receive termination pay and benefits under the terms and conditions of such policy in lieu of the payments and benefits under Section 9(d) or 9(g). It is understood by the Parties that Executive shall not be entitled to both the payments and benefits under the severance pay policy and those available under Section 9(d) or 9(g). Notwithstanding the foregoing, in addition to being entitled to the greater of the payments and benefits under the severance pay policy and under Section 9(d) or 9(g), as applicable, Executive shall be entitled to professional outplacement services (including office space and secretarial services), at a cost not exceeding 10% of Executive's annual Base Salary, in accordance with the Company's policies regarding outplacement services; provided, however, that payments pursuant to this sentence shall be made only for actual outplacement services, and Executive shall not have the option to elect to receive all or part of the maximum allowances therefor in lieu of outplacement services.

Other Severance. In the event the Company's written severance pay policy applicable to Executive provides for greater severance pay and benefits than are provided for in Section 9(d) or 9(g), Executive may elect to receive termination pay and benefits under the terms and conditions of such policy in lieu of the payments and benefits under Section 9(d) or 9(g). It is understood by the Parties that Executive shall not be entitled to both the payments and benefits under the severance pay policy and those available under Section 9(d) or 9(g). Notwithstanding the foregoing, in addition to being entitled to the greater of the payments and benefits under the severance pay policy and under Section 9(d) or 9(g), as applicable, Executive shall be entitled to professional outplacement services (including office space and 13 secretarial services), at a cost not exceeding 10% of Executive's annual Base Salary, in accordance with the Company's policies regarding outplacement services; provided, however, that payments pursuant to this sentence shall be made only for actual outplacement services, and Executive shall not have the option to elect to receive all or part of the maximum allowances therefor in lieu of outplacement services.