Double Trigger Severance Agreement

The specific provisions of the two sections can be summarized as follows: “parachute payment”, any payment to a “disqualified person” of the type of compensation when such payment is subject to a change of control of the enterprise and the total value of all such payments is equal to or greater than three times the “basic amount” of the person. The basic amount is the average remuneration of the person who, in the five tax years preceding the fiscal year preceding the fiscal year in which the change of control takes place, the gross income. . . .