Common use of Continuation upon Certain Termination Events Clause in Contracts

Continuation upon Certain Termination Events. If the Employee’s employment is terminated (i) by the Company without Cause; or (ii) within twelve months after a Change of Control of the Company under which the Company is not the surviving entity and the Employee was not offered a position and salary in the surviving entity comparable to the position and salary held immediately prior to the Change of Control, then subject to the conditions below, Employee will receive during the twelve (12) month period immediately following the date of termination under (i) or (ii) a guarantee of salary continuation equal to Employee’s monthly base salary on the date of termination, as well as continuation of medical and dental benefits pursuant to Company policies (including any requirement for employee premium contributions) in effect during the said period. Salary continuation payments shall be made in accordance with the regularly scheduled payroll frequency in effect on the date of Employee’s termination of employment. Each installment payment required under this Section shall be considered a separate payment under Internal Revenue Code Section 409A.

Continuation upon Certain Termination Events. If the Employee’s employment is terminated (i) by the Company without Cause; or (ii) within twelve months after a Change of Control of the Company under which the Company is not the surviving entity and the Employee was not offered a position and salary in the surviving entity comparable to the position and salary held immediately prior to the Change of Control, then subject to the conditions below, Employee will receive during the twelve (12) 18 month period immediately following the date of termination under (i) or (ii) a guarantee of salary continuation equal to Employee’s monthly base salary on the date of termination, as well as continuation of medical and dental benefits pursuant to Company policies (including any requirement for employee premium contributions) in effect during the said period. Salary continuation payments shall be made in accordance with the regularly scheduled payroll frequency in effect on the date of Employee’s termination of employment. Each installment payment required under this Section shall be considered a separate payment under Internal Revenue Code Section 409A.