Common use of Severance Upon Termination Clause in Contracts

Severance Upon Termination. If the Company elects to terminate this Agreement without Cause pursuant to Section 5(b) above, the Company shall pay the Executive a severance payment equal to six months of the Executive's then current annual base salary, less applicable taxes and withholdings; provided, however, that any severance payment shall be conditioned upon the Executive signing a severance agreement and release in a form satisfactory to the Company. Any post-termination payments or benefits due and payable to the Executive by operation of law (but not pursuant to any other agreement with the Company) shall be deducted from any amount of severance otherwise payable under this Section 6.

Severance Upon Termination. If the Company elects to terminate this Agreement without Cause pursuant to Section 5(b7(b) above, the Company shall pay the Executive a severance payment equal to six three (3) months of the Executive's ’s then current annual base salary, less applicable taxes and withholdings; provided, however, that any severance payment shall be conditioned upon the Executive signing a severance agreement and release in a form satisfactory to the Company. Any post-termination payments or benefits due and payable to the Executive by operation of law (but not pursuant to any other agreement with the Company) shall be deducted from any amount of severance otherwise payable under this Section 68.