Separation Consideration. (i) a cash amount equal to the sum of the Bonus and eighteen (18) months of Base Salary; and (ii) regular monthly payments (payable 1 month in arrears) equal to the difference between (A) the Executive's monthly premium rate for health insurance for Executive and Executive's dependents under the Company's relevant health insurance plans (e.g., medical, dental, and vision) in effect on the End Date, and (B) the monthly premium paid by Executive for substantially similar health insurance coverage... for Executive and Executive's dependents (whether through the Consolidated Omnibus Budget Reconciliation Act ("COBRA") or otherwise) after the End Date, until the earlier of (Y) eighteen (18) months from the End Date, or (Z) Executive's employment by a person, company, or other entity that offers health insurance; provided that, following a Change in Control, the "Separation Consideration" shall mean: (i) a cash amount equal to two times the sum of the Bonus and Base Salary; (ii) regular monthly payments (payable 1 month in arrears) equal to the difference between (A) the Executive's monthly premium rate for health insurance for Executive and Executive's dependents (as applicable) under the Company's relevant health insurance plans (e.g., medical, dental, and vision) in effect on the End Date, and (B) the monthly premium paid by Executive for substantially similar health insurance coverage for Executive and Executive's dependents (whether through the Consolidated Omnibus Budget Reconciliation Act ("COBRA") or otherwise) after the End Date, until the earlier of (Y) twenty-four (24) months from the End Date, or (Z) Executive's employment by a person, company, or other entity that offers health insurance; (iii) a payment equivalent to, or at the discretion of Executive, the continuation of, twenty-four (24) months of other benefits to which Executive was entitled as of the End Date; and (iv) a cash amount of Twenty-Five Thousand Dollars and Zero Cents ($25,000.00), which represents an amount to assist Executive with executive outplacement services. Notwithstanding the foregoing, the Separation Consideration shall be payable within sixty (60) days following the End Date (or as otherwise required by applicable law or as expressly set forth above relating to regular monthly payments or other consideration), provided that Executive shall not be entitled to receive the Separation Consideration unless and until: (x) Executive has executed and delivered the Release to the Company; (y) the Release has become fully effective in all respects; and (z) Executive reaffirms and does not breach the post-termination obligations contained in this Agreement and has not breached the provisions of the Release or breached the provisions of Sections 7, 8 or 10 hereof.View More
Separation Consideration. (i) a cash amount equal to the sum of the Bonus and (A) if the End Date is on or before December 31, 2015, twelve (12) months of Base Salary; or (B) if the End Date is on or after January 1, 2016, eighteen (18) months of Base Salary; and (ii) regular monthly payments (payable 1 month in arrears) equal to the difference between (A) the Executive's monthly premium rate for health insurance for Executive and Executive's dependents under the Company's relevant health insurance plans (e.g., medical,... dental, and vision) in effect on the End Date, and (B) the monthly premium paid by Executive for substantially similar health insurance coverage for Executive and Executive's dependents (whether through the Consolidated Omnibus Budget Reconciliation Act ("COBRA") or otherwise) after the End Date, until the earlier of (X) twelve (12) months from the End Date, if the End Date occurs on or before December 31, 2015; (Y) eighteen (18) months from the End Date, if the End Date occurs on or after January 1, 2016; or (Z) Executive's employment by a person, company, or other entity that offers health insurance; provided that, following a Change in Control, the "Separation Consideration" shall mean: (i) a cash amount equal to the sum of: (A) if the End Date is on or before December 31, 2015, eighteen (18) months of Base Salary and one and a half (1.5) times the Bonus; or (B) if the End Date is on or after January 1, 2016, two times the sum of the Bonus and Base Salary; (ii) regular monthly payments (payable 1 month in arrears) equal to the difference between (A) the Executive's monthly premium rate for health insurance for Executive and Executive's dependents (as applicable) under the Company's relevant health insurance plans (e.g., medical, dental, and vision) in effect on the End Date, and (B) the monthly premium paid by Executive for substantially similar health insurance coverage for Executive and Executive's dependents (whether through the Consolidated Omnibus Budget Reconciliation Act ("COBRA") or otherwise) after the End Date, until the earlier of (X) eighteen (18) months from the End Date, if the End Date occurs on or before December 31, 2015; (Y) twenty-four (24) months from the End Date, if the End Date occurs on or after January 1, 2016; or (Z) Executive's employment by a person, company, or other entity that offers health insurance; (iii) if the End Date is: (x) on or before December 31, 2015, then a payment equivalent to, or at the discretion of Executive, the continuation of, eighteen (18) months of other benefits to which Executive was entitled as of the End Date; or (y) on or after January 1, 2016, then a payment equivalent to, or at the discretion of Executive, the continuation of twenty-four (24) months of other benefits to which Executive was entitled as of the End Date; and 5 (iv) a cash amount of Twenty-Five Thousand Dollars and Zero Cents ($25,000.00), which represents an amount to assist Executive with executive outplacement services. Notwithstanding the foregoing, the Separation Consideration shall be payable within sixty (60) days following the End Date (or as otherwise required by applicable law or as expressly set forth above relating to regular monthly payments or other consideration), provided that Executive shall not be entitled to receive the Separation Consideration unless and until: (x) Executive has executed and delivered the Release to the Company; (y) the Release has become fully effective in all respects; and (z) Executive reaffirms and does not breach the post-termination obligations contained in this Agreement and has not breached the provisions of the Release or breached the provisions of Sections 7, 8 or 10 hereof. View More
