Common use of Changes of Control Clause in Contracts

Changes of Control. 6.1 If at any time during the term of this Agreement there is a change of control of the Company, as defined below, which has not been approved by the Board, the Consultant will have the option, exercisable for a period of six months following such change of control, to treat this Agreement as terminated. The Consultant shall then be entitled to receive from the Company in lieu of payments, if any, owing under section 5.3 hereof an amount equal to two and one half times (2.5) the then applicable annual fee payable to the Consultant pursuant to section 4.1(a) hereof, together with customary benefits or payment of the Company’s cost of benefits in lieu thereof and bonuses which would accrue over the two-year period following such deemed termination of the Agreement.

Changes of Control. 6.1 If at any time during the term of this Agreement there is a change of control of the Company, as defined below, which has not been approved by the Board, the Consultant will have the option, exercisable for a period of six months following such change of control, to treat this Agreement as terminated. The Consultant shall then be entitled to receive from the Company in lieu of payments, if any, owing under section 5.3 hereof an amount equal to two and one half three quarters times (2.52.75) the then applicable annual fee payable to the Consultant pursuant to section 4.1(a) hereof, together with customary benefits or payment of the Company’s cost of benefits in lieu thereof and bonuses which would accrue over the two-year period following such deemed termination of the Agreement.

Changes of Control. 6.1 If at any time during the term of this Agreement there is a change of control of the Company, as defined below, which has not been approved by the Board, the Consultant will have the option, exercisable for a period of six months following such change of control, to treat this Agreement as terminated. The Consultant shall then be entitled to receive from the Company in lieu of payments, if any, owing under section 5.3 hereof an amount equal to two three and one half quarter (3.25) times (2.5) the then applicable annual fee payable to the Consultant pursuant to section 4.1(a) hereof, together with customary benefits or payment of the Company’s cost of benefits in lieu thereof and bonuses which would accrue over the two-year period following such deemed termination of the Agreement.