Common use of Company’s Obligation Clause in Contracts

Company’s Obligation. IF COVERAGE IS NOT DECLARED. If Executive is terminated without benefits under this Section 4 and it later becomes apparent that the termination occurred within a Control Change Window, Company shall make available to Executive the benefits to which Executive was entitled under this Section 4, by Notice, provided that benefits paid to Executive under Section 3.6.2 and 3.6.3 shall be offset against benefits otherwise due hereunder. If Executive's options do not as of the date of Notice have at least 30 days remaining in which they can be exercised (or if the options cannot be, or the Board determines it is inadvisable that they be, extended for such a period) then the Board may elect, instead of allowing the acceleration of unvested options otherwise contemplated hereunder, to provide Executive stock whose fair market value is equivalent to the in-the-money value of the unvested options that would accelerate hereunder, measured as of the last reported sale on the NASDAQ system of the Company's common stock on the day of (or if none, prior to the day of) termination.

Company’s Obligation. IF COVERAGE IS NOT DECLARED. If Executive is terminated without benefits under this Section 4 and it later becomes apparent that the termination occurred occured within a Control Change Window, Company shall make available to Executive the benefits to which Executive was entitled under this Section 4, by Notice, provided that benefits paid to Executive under Section 3.6.2 and 3.6.3 shall be offset against benefits otherwise due hereunder. If Executive's options do not as of the date of Notice have at least 30 days remaining in which they can be exercised (or if the options cannot be, or the Board determines it is inadvisable that they be, extended for such a period) then the Board may elect, instead of allowing the acceleration of unvested options otherwise contemplated hereunder, to provide Executive stock whose fair market value is equivalent to the in-the-money value of the unvested options that would accelerate hereunder, measured as of the last reported sale on the NASDAQ system of the Company's common stock on the day of (or if none, prior to the day of) termination.