Consequences of Termination Without Cause. In the event Executive’s employment is terminated without Cause, Executive will receive: (i) unpaid Base Salary then in effect, prorated to the date of termination, together with any amounts to which Executive is entitled pursuant to Sections 1.2(b), 1.2(c), 2.3 and 2.4 of this Agreement; and (ii) ratably, in equal monthly installments in accordance with the Company’s standard payroll practice, his annual Base Salary then in effect for two (2) years from the termination date, plus continuation of Executive’s then current benefits for a period of two (2) years from the termination date, less required deductions on all amounts described in (i) and (ii) for withholding tax, social security and all other applicable employment taxes; provided that Executive executes a full general release, releasing all claims, known or unknown, that Executive may have against the Company arising out of or any way related to Executive’s employment or termination of employment with the Company, in substantially the form attached hereto as Exhibit A, or in another form that is acceptable to the Company and Executive, provided that such release shall exclude amounts due or to become due to Executive as contemplated by this Agreement, any other written agreement between Executive and the Company then in effect, and any rights to indemnification of Executive under the Company’s articles of incorporation and bylaws. All other Company obligations to Executive will be automatically terminated and completely extinguished upon termination of employment.
Consequences of Termination Without Cause. In the event Executive’s employment is terminated without Cause, Executive will receive: (1) unpaid Base Salary then in effect, prorated to the date of termination, together with any amounts to which Executive is entitled pursuant to Sections 5 and 6 of this Agreement; (2) ratably, in equal monthly installments in accordance with the Company’s standard payroll practice, his Base Salary for eighteen (18) months from the termination date plus one year’s expected incentive compensation prorated for the percentage of the year that has elapsed as of the date of such termination (assuming for purposes of calculating the incentive compensation amount, satisfaction of all performance based milestones by both Company and the Executive); and (3) full acceleration of the vesting of any unexercisable or unvested portion of all outstanding options then held by Executive (Sections 7.2(a)(2) and 7.2(a)(3) collectively referred to as the “Severance Payments”); provided that Executive: (a) complies with all surviving provisions of this Agreement, including without limitation those provisions specified in Section 8, below; (b) executes a full general release, releasing all claims, known or unknown, that Executive may have against Company arising out of or any way related to Executive’s employment or termination of employment with Company, in substantially the form attached hereto as Exhibit B, or in another form that is acceptable to Company and Executive, provided that such release shall exclude amounts due or to become due to Executive as contemplated by this Agreement. All other Company obligations to Executive will be automatically terminated and completely extinguished upon termination of employment.
Consequences of Termination Without Cause. Upon any termination of Executive’s employment with the Company, except for a termination for Cause, the Executive shall be entitled to: (a) a payment equal to two (2) years’ worth of the then-existing Base and the prior year’s Cash Bonus (the “Severance”); and (b) retain the benefits set forth in Article IV for the balance of the term and all outstanding compensation owing as of the termination date. The Severance shall be paid, at Executive’s option, either (x) in a lump sum upon termination or (y) as and when normal payroll payments are made (except in the case of the Cash Bonus which shall be payable in a lump sum between on December 31st of each year). As a condition to the Company’s obligation to pay said Severance, Executive shall execute a comprehensive release of any and all claims that Executive may have against the Company (excluding any claims for the Company to pay or provide Accrued Obligations and Severance Benefits) (Release of Claims) within twenty one (21) days of the effective date of termination of employment and Executive shall not revoke said release in writing within seven (7) days of execution.
Consequences of Termination Without Cause. In the event of termination of the Executive's employment hereunder without Cause:
Consequences of Termination Without Cause. If the Company terminates Employee's employment without good cause, as defined in Section 9.1 hereof, or if Employee resigns for good reason, as defined in Section 9.2 hereof, then:
Consequences of Termination Without Cause. 4.1 If the Company terminates Executive’s employment “Without Cause” pursuant to this Schedule, then following such termination Executive shall be entitled to receive;
