Common use of Consequences for Compensation and Benefits Clause in Contracts

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 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 Companys expense, outplacement services appropriate to the Executive’s Executives 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 Executives 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 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 Companys expense, outplacement services appropriate to the Executive’s Executives 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 6.2.16.2. 6.2.1 The Executive’s Executives 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).