Common use of Change of Control Retention Payments Clause in Contracts

Change of Control Retention Payments. In the event of a Change of Control (other than a liquidation or dissolution of the Company) wherein Employee is employed by the acquiring entity in the position of Chief Technical Officer or a greater position, then Employee shall receive cash retention payments (the “Change of Control Retention Payments”) as to 2/3 of Annual Compensation on the date of the Change of Control, another 2/3 of Annual Compensation on the date that is six months following the Change of Control, and a final 2/3 of Annual Compensation on the one year anniversary of the Change of Control, subject to his remaining employed by the acquiring entity through such dates.

Change of Control Retention Payments. In the event of a Change of Control (other than a liquidation or dissolution of the Company) wherein Employee is employed by the acquiring entity in the position of Chief Technical Officer Vice-President of Engineering and Program Management or a greater position, then Employee shall receive cash retention payments (the “Change of Control Retention Payments”) as to 2/3 1/3 of Annual Compensation on the date of the Change of Control, another 2/3 1/3 of Annual Compensation on the date that is six months following the Change of Control, and a final 2/3 1/3 of Annual Compensation on the one year anniversary of the Change of Control, subject to his remaining employed by the acquiring entity through such dates.

Change of Control Retention Payments. In the event of a Change of Control (other than a liquidation or dissolution of the Company) wherein Employee is employed by the acquiring entity in the position of Chief Technical Financial Officer or a greater position, then Employee shall receive cash retention payments (the “Change of Control Retention Payments”) as to 2/3 1/3 of Annual Compensation on the date of the Change of Control, another 2/3 1/3 of Annual Compensation on the date that is six months following the Change of Control, and a final 2/3 1/3 of Annual Compensation on the one year anniversary of the Change of Control, subject to his remaining employed by the acquiring entity through such dates.