Common use of Compensation Upon Termination Without Cause or Upon Resignation with Good Reason Clause in Contracts

Compensation Upon Termination Without Cause or Upon Resignation with Good Reason. If VEMICS's Board or its designee terminates Employee's employment hereunder for any reason other than Cause or Employee's death or Permanent Disability (as defined in Section 5.6), or Employee voluntarily resigns his employment with Good Reasons, then (a) Employee shall be entitled to receive (i) the Salary and Benefits accrued prior to the Termination Date and (ii) payment or reimbursement of any expenses, provided for under Section 4.3, that were incurred by Employee prior to the Termination Date and (b) after the Termination Date, VEMICS will also continue to pay the full Salary, in equal semimonthly payments, to Employee for one year from the date employment is terminated by the Board of Directors without cause.

Compensation Upon Termination Without Cause or Upon Resignation with Good Reason. If VEMICS's Board or its designee terminates Employee's employment hereunder for hereunderfor any reason other than Cause or Employee's death or Permanent Disability (as defined in Section 5.6), or Employee voluntarily resigns his employment with Good Reasons, then (a) Employee shall be entitled to receive (i) the Salary and Benefits accrued prior to the Termination Date and (ii) payment or reimbursement of any expenses, provided for under Section 4.3, that were incurred by Employee prior to the Termination Date and (b) after the Termination Date, VEMICS will also continue to pay the full Salary, in equal semimonthly payments, to Employee for one year from the date employment is terminated by the Board of Directors without cause.