Common use of Benefits Upon Change of Control Clause in Contracts

Benefits Upon Change of Control. (a) In the event of a Change of Control (i) any stock options previously granted to the Employee under any Company stock option or equity compensation plan which have not yet vested shall become vested, and (ii) any restricted stock previously granted to the Employee under any Company equity compensation plan which has not yet vested or become freely transferable shall become vested and freely transferable. (b) In the event of the Employee's Termination following a Change of Control the Company shall pay to the Employee, within fifteen days after the Termination Date, an amount in cash equal to 2.0 times (i) the Employee's then current annual base compensation, plus (ii) the Employee's then current target bonus eligibility. (c) In the event of the Employee's Termination following a Change of Control, the Employee shall be entitled to continued participation in the Company's life, disability, accident and health insurance plans for a period not to exceed thirty-six (36) months following the termination.

Benefits Upon Change of Control. (a) In the event of a Change of Control (i) any stock options previously granted to the Employee under any Company stock option or equity compensation plan which have not yet vested shall become vested, and (ii) any restricted stock previously granted to the Employee under any Company equity compensation plan which has not yet vested or become freely transferable shall become vested and freely transferable. (b) In the event of the Employee's Termination following a Change of Control the Company shall pay to the Employee, within fifteen days after the Termination Date, an amount in cash equal to 2.0 times (i) the Employee's then current annual base compensation, plus (ii) the Employee's then current target maximum bonus eligibility. (c) In the event of the Employee's Termination following a Change of Control, the Employee shall be entitled to continued participation in the Company's life, disability, accident and health insurance plans for a period not to exceed thirty-six (36) months following the termination.