Common use of Payments to Employee Clause in Contracts

Payments to Employee. Provided that Employee performs his CFO duties consistent with past practice and does not resign for any reason before April 30, 2012, and Employee delivers to the Company signed originals of both this Agreement and the Second Agreement (as and when each such Agreement is to be executed in accordance with their respective terms) and does not timely revoke either this Agreement or the Second Agreement, and subject to Employee’s compliance with Paragraphs 9G, 9H and 18 of the Employment Agreement and Paragraph 9 of this Agreement, the Company will pay and provide Employee, subject to the terms and conditions of the Agreements, and Employee will accept, as and on behalf of Releasor from the Company on behalf of each Releasee, the payments and benefits stated in Paragraphs 3(a) and 3(b) below (the “Transition Agreement Payments”), in consideration for Employee’s services under Paragraph 2 of this Agreement, his release of claims against the Company as set forth in the Agreements, and the other promises and obligations set forth in the Agreements.