Effect of Termination by Company. Should the Term be terminated by Company by reason of Employee's Material Breach, Employee shall have no right to any further Fixed Annual Compensation from and after termination, or to any Incentive Compensation, Automobile Benefits, or Additional Benefits accruing for the fiscal year of termination or thereafter.
Effect of Termination by Company. In the event of a termination of the Executive’s employment under this Agreement by the Company during the Initial Term, Executive shall be entitled to a severance payment equal to one (1) month’s salary during year one, two (2) months’ salary during year two, and three (3) months’ salary during year.
Effect of Termination by Company under Section 13.2. Upon termination of this Agreement by Company pursuant to Section 13.2:
Effect of Termination by Company. If this Agreement is terminated by the Company for any reason, Investor shall have the unconditional right to acquire from the Company within 60 days of the date of termination, 7,500,000 shares of common stock of the Company at the price of $.001 per share (the "Breakup Shares"). The Breakup Shares shall have full anti-dilution and registration rights, consistent with the rights granted to Investor under the Stock Purchase Agreement and the exhibits thereunder. This remedy is in addition to any other remedy to which Investor is entitled under this Agreement, in law or in equity as a result of termination of this Agreement.
Effect of Termination by Company under Section 13.2. Upon termination of this Agreement by Company pursuant to Section 13.2:
(a) The licenses and sublicenses granted by Xxxxxxx to Company will terminate and revert to Xxxxxxx (except any license in any country that has become perpetual and irrevocable as provided in Section 6.3(b).
(b) Company or Company Sublicensees shall continue, to the extent that Company or Company Sublicensees continue to have stocks of usable Reverted Products, to fulfill orders received for Reverted Products in the Field until [***] months following the date of termination. For Products sold by Company or Company Sublicensees after the effective date of a termination, Company shall continue to pay royalties pursuant to Section 6.3. Except as provided in this Section 14.2(b), Company will cease to use, distribute, or market the Products.
(c) Following the period set forth in Section 14.2(b), each Party will promptly return, or at the other Party’s option, destroy any Know-How of such other Party or any materials containing such Know-How or any Confidential Information of such other Party in its or its Affiliates’ possession, except for one archival copy to safekeep for legal purposes and such records as may be required to be retained by such Party by Applicable Laws, all of which shall continue to be subject to the confidentiality and non-use obligations in Article 9.
Effect of Termination by Company. Should the Term be terminated by Company by reason of Employee's Material Breach, Employee shall have no right to any further Fixed Compensation or Bonus Compensation accruing from the date of termination or thereafter. Company shall pay to Employee all of Employee's Bonus Compensation on a pro-rata basis accruing through the effective date of termination sixty (60) days after the end of the fiscal year of termination.
Effect of Termination by Company. A. Should the Term be terminated by Company for Cause, Executive shall have no right to any further Fixed Annual Compensation from and after termination, or to Xxx Xxxxxxxxx any Incentive Compensation, Additional Benefits or Supplemental Compensation except those earned by Executive prior to the date of termination.
B. Should Executive's employment be terminated by Company without Cause in accordance with Paragraph 3.1.2, Company shall pay to Executive his Fixed Annual Compensation plus Incentive Compensation for the lesser of (i) twelve (12) months, or (ii) what would have been the balance of the Term had Executive's employment not been terminated by Company, subject to any withholding which Company may make for income tax or other purposes as required by law or requested by Executive. Except as set forth in this paragraph 3.
Effect of Termination by Company. A. Should the Term be terminated by Company for Cause, Executive shall have no right to any further Fixed Annual Compensation from and after termination, or to any Incentive Compensation, Additional Benefits or Supplemental Compensation except those earned by Executive prior to the date of termination.
B. Should Executive's employment be terminated by Company without Cause in accordance with Paragraph 3.1.2, Company shall pay to Executive her Fixed Annual
Effect of Termination by Company. Should the Term be terminated by Company pursuant to paragraphs 3.1.1 or 3.1.2, Company shall pay to Executive the remaining Fixed Annual Compensation for the balance of the applicable period (i.e., the Initial Term, the First Extension Period or the Second Extension Period) of the Term had Executive's employment not been terminated by Company, subject to any withholding which Company may make for income tax or other purposes as required by law or requested by Executive. Except as set forth in this paragraph 3.1.3, Executive shall have no right to any further Fixed Annual Compensation from and after termination, or to any Incentive Compensation, or Additional Benefits accruing from the date of termination or thereafter. 3.2
Effect of Termination by Company. 5If the Agreement is terminated by the Company under clause 19.1 all Project Intellectual Property Rights will become the property of the Company. The Company may give the Researcher a licence to use the Project Intellectual Property Rights for research purposes free of charge.
