Common use of Provisions Applicable to Termination of Employment Clause in Contracts

Provisions Applicable to Termination of Employment. If a Change in Control shall occur and the Consulting Firm's employment is thereafter terminated at any time prior to the first anniversary of the Change in Control Date by the Employer other than for Cause or by the Consulting Firm for Good Reason, then the Consulting Firm shall be entitled to receive the following: (i) the Consulting Firm shall be entitled to all payments and benefits provided in Section 7; (ii) the payments required by the provisions of clause (i) of Section 9(c) shall be paid to the Consulting Firm in a lump sum in cash within ten days after the Date of Termination (or such later date as the Consulting Firm may elect); and (iii) the Consulting Firm shall receive as severance pay, and in lieu of any further draws subsequent to the Date of Termination and any Severance Payment referenced in Section (c)(ii) above, an amount in cash equal to two times the sum of the Annual Draw on the Date of Termination and all benefits enjoyed by the Consulting Firm on the Date of Termination shall continue for a period of three years after the Date of Termination. In addition, the Consulting Firm will receive the average of the last three years' bonuses, which shall be calculated as contemplated by Section 9(c)(ii) above. The severance sum shall be paid to the Consulting Firm within 30 days of the Date of Termination. If the continuation of any benefit provided to the Consulting Firm violates any law or statute the Employer shall pay to the Consulting Firm the cash equivalent of any benefit lost by the Consulting Firm.

Provisions Applicable to Termination of Employment. If a Change in Control shall occur and the Consulting Firm's employment is thereafter terminated at any time prior to the first anniversary of the Change in Control Date by the Employer other than for Cause or by the Consulting Firm for Good Reason, then the Consulting Firm shall be entitled to receive the following: (i) the Consulting Firm shall be entitled to all payments and benefits provided in Section 7; (ii) the payments required by the provisions of clause (i) of Section 9(c) shall be paid to the Consulting Firm in a lump sum in cash within ten days after the Date of Termination (or such later date as the Consulting Firm may elect); and and (iii) the Consulting Firm shall receive as severance pay, and in lieu of any further draws subsequent to the Date of Termination and any Severance Payment referenced in Section (c)(ii) above, an amount in cash equal to two times the sum of the Annual Draw on the Date of Termination and all benefits enjoyed by the Consulting Firm on the Date of Termination shall continue for a period of three years after the Date of Termination. In addition, the Consulting Firm will receive the average of the last three years' bonuses, which shall be calculated as contemplated by Section 9(c)(ii) above. The severance sum shall be paid to the Consulting Firm within 30 days of the Date of Termination. If the continuation of any benefit provided to the Consulting Firm violates any law or statute the Employer shall pay to the Consulting Firm the cash equivalent of any benefit lost by the Consulting Firm.