Common use of By Company for Reason Other Than Cause Clause in Contracts

By Company for Reason Other Than Cause. Company may terminate this Agreement and Executive’s employment for any reason whatsoever, or for no reason, in the Board’s sole discretion upon Notice of Termination (as defined in Section 6(e) below). For purposes of this Agreement, acceptance by the Company of Executive’s resignation upon request or by mutual agreement shall be deemed to be a termination by the Company. Except as otherwise provided below, in the event that Executive’s employment is terminated by Company for any reason other than Cause (defined in Section 6(d)(v) below), then in addition to any compensation or benefits to which Executive may be entitled through the Date of Termination (as defined in Section 6(f) below): (A) Company shall pay Executive immediately upon the Date of Termination a lump sum equal to three (3) times the sum of the Base Compensation and the Target Bonus; (B) for the 36-month period after the Date of Termination, Company shall continue to cover Executive (and Executive’s dependents) in the medical plan sponsored by Company (or any successor) for its executives, provided Executive timely remits to Company the applicable monthly COBRA premium (less the COBRA administrative surcharge) for such continued coverage; and (C) Company shall reimburse Executive for any medical premium expenses incurred by Executive under (B) within 30 days after the date of such payment by Executive.