Consequences for Compensation and Benefits. (a) If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Executive through the Termination Date and shall pay to the Executive all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued.
(b) If the Termination Date occurs by reason of General Discharge or Resignation with Reason, (i) all stock options held by the Executive shall become immediately exercisable and shall remain exercisable for three (3) years after the Termination Date, (ii) the Company shall continue the health coverage contemplated by Section 5.1 for a period of two (2) years thereafter, (iii) the Company shall engage for the Executive, at the Company’s expense, outplacement services appropriate to the Executive’s position, for up to twelve months after the Termination Date, and (iv) the Executive shall be entitled to receive, within 60 days after the Termination Date, the amount set forth in Section 6.2.1.
6.2.1 The Executive’s annual base salary at the Termination Date plus the target bonus for the year in which the Termination Date occurs, multiplied by two (2) (i.e., 2 times base salary plus target bonus).
Consequences for Compensation and Benefits. (a) If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Executive through the Termination Date and shall pay to the Executive all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued.
(b) If the Termination Date occurs by reason of General Discharge or Resignation with Reason, (i) all stock options held by the Executive shall become immediately exercisable and shall remain exercisable for two (2) years after the Termination Date, (ii) the Company shall continue the health coverage contemplated by Section 5.1 for a period of one (1) year thereafter, and (iii) the Executive shall be entitled to receive, within 60 days after the Termination Date, the amount set forth in Section 6.2.1.
6.2.1 The Executive’s annual base salary at the Termination Date plus the target bonus for the year in which the Termination Date occurs, multiplied by one (1) (i.e., 1 times base salary plus target bonus).
Consequences for Compensation and Benefits. (a) If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay or provide, as the case may be, (i) any Base Salary earned but unpaid to the Executive through the Termination Date, (ii) all benefits accrued and owing to the Executive through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the benefits were accrued, and (iii) any unpaid reimbursements for reasonable expenses incurred but not paid prior to the Termination Date so long as documentation thereof is submitted to the Company within thirty (30) days following the Termination Date.
(b) If the Termination Date occurs by reason of General Discharge or Resignation with Reason, (i) all unvested Option Shares held by the Executive pursuant to the Option shall immediately vest and become immediately exercisable for the period set forth in the Option Agreement and the Equity Incentive Plan, (ii) if the Executive elects coverage under Section 4980B of the Internal Revenue Code of 1986, as amended (the “Code”), or under similar applicable health care continuation coverage laws of a State (“COBRA”), the Company shall reimburse the Executive for that portion of the cost of the continuation coverage that the Company pays for similarly situated active employees of the Company, for Executive and Executive’s covered dependents (but not for any spouse or dependent who separately elects COBRA coverage as a “qualified beneficiary,” as defined in Code Section 4980B(g)(1)), for a period ending upon the earlier of twelve (12) months after the Termination Date or the date the Executive’s COBRA coverage ceases (the “Health Severance”), provided, however, that the Health Severance shall be payable only to the extent that it would not result in a tax or penalty to the Company under the Patient Protection and Affordable Care Act of 2010, as amended, and regulations thereunder (“ACA”), and further provided that the Company may elect, in its sole discretion, to report the Health Severance as taxable income to the Executive in order to satisfy the requirements of Section 105(h) of the Code or Section 2716 (Prohibition on Discrimination in Favor of Highly Compensated Individuals) of the Public Health Service Act, as incorporated by Section 9815(a)(1) of the Code, (iii) the Executive shall be entitled to receive the amount set forth in Section 5.2.1, which shall be paid on or before the ...
Consequences for Compensation and Benefits. Upon occurrence of the Termination Date, the Company shall pay to Executive (a) compensation through the Termination Date and (b) all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued.
Consequences for Compensation and Benefits. (a) If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Executive through the Termination Date and shall pay to the Executive all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued.
(b) If the Termination Date occurs by reason of General Discharge or Resignation with Reason, (i) all stock options held by the Executive shall become
5.2.1 The Executive's annual base salary at the Termination Date plus the target bonus for the year in which the Termination Date occurs, multiplied by one and a half (1.5) (i.e., 1.5 times base salary plus bonus).
Consequences for Compensation and Benefits. If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Executive through the Termination Date (including accrued vacation and a prorated portion of the Executive's accrued bonus and incentive compensation) and shall pay to the Executive all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued. If the Termination Date occurs by reason of General Discharge or Resignation with Reason, the Company shall pay to the Executive, in addition to the amounts described in the preceding paragraph, an amount equal to one times the Executive's annual Base Salary and Benefits; such amount shall not be reduced by the receipt of Earned Income through subsequent employment and shall be paid in two equal installments. The first installment shall be paid immediately and the second installment shall be paid six months thereafter.
Consequences for Compensation and Benefits. (a) If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Executive through the Termination Date and shall pay to the Executive all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued.
(b) If the Termination Date occurs by reason of General Discharge or Resignation with Reason, all stock options held by the Executive shall become immediately exercisable and shall remain exercisable for three (3) years after the Termination Date,
Consequences for Compensation and Benefits. If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Executive through the Termination Date and shall pay to the Executive all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued. If the Termination Date occurs by reason of General Discharge or Resignation with Reason, the Company shall pay Base Salary and Benefits until the first to occur of (a) Receipt of Earned Income, or (b) the first anniversary of the Termination Date.
Consequences for Compensation and Benefits. (a) If the Termination Date occurs by reason of disability, death, General Resignation or Discharge for Cause, the Company shall pay compensation to the Executive through the Termination Date and shall pay to the Executive all Benefits accrued through the Termination Date (including but not limited to reimbursement of all business expenses under Section 5.5), payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued.
(b) If the Termination Date occurs by reason of General Discharge or Resignation with Reason, (i) all stock options held by the Executive shall become immediately exercisable and shall remain exercisable for two (2) years after the Termination Date, (ii) the Company shall continue the health coverage contemplated by Section 5.1 for a period of one (1) year thereafter, (iii) the Company shall engage for the Executive, at the Company’s expense, outplacement services appropriate to the Executive’s position, for up to twelve months after the Termination Date, and (iv) the Executive shall be entitled to receive, within 60 days after the Termination Date, the amount set forth in Section 6.2.1.
6.2.1 The Executive’s annual base salary at the Termination Date plus the target bonus under Section 4.3(i) for the year in which the Termination Date occurs, multiplied by one (1) (i.e., 1 times base salary plus target bonus).
Consequences for Compensation and Benefits. On Termination as a result of a voluntary resignation or Discharge for Cause, the Company shall pay base salary to the Employee through the Termination Date, and shall pay to the Employee all Benefits accrued through the Termination Date, payable in accordance with the respective terms of the plans, practices and arrangements under which the Benefits were accrued, but shall pay no cash bonus for the fiscal year in which the Termination Date occurs. On a Termination due to the Employee's death or disability, the Company shall continue to pay, at its option, base salary or a lump sum equivalent to Employee or his estate. The Company will obtain adequate disability and life insurance to secure such payments and will provide Employee evidence of such coverage during the term of this Agreement.
