Common use of Effects of Termination of Employment or Service Clause in Contracts

Effects of Termination of Employment or Service. Reference is made to that certain Employment Agreement, dated , 2006, by and between the Corporation and the Participant (the “Employment Agreement”). If the Participant is terminated by the Corporation for any reason other than “Cause” (as such term is defined in the Employment Agreement) or if the Participant terminates her employment for “Good Reason” (as such term is defined in the Employment Agreement) (the date of the Participant’s termination is referred to herein as the “Severance Date”), the portion, if any, of the Option that is outstanding and not otherwise vested as of such Severance Date shall become fully vested immediately prior to the Severance Date and the Participant shall have twelve (12) months after the Severance Date to exercise the Option to the extent it shall be or shall have become exercisable on the Severance Date (subject to the maximum 10-year term of the Option and subject to Section 4.2); provided, however, that the Option shall terminate immediately if the Participant materially breaches the Confidentiality Agreement or the Non-Competition Agreement entered into in connection with Section 6 of the Employment Agreement. In the case of a termination for Cause, the Option shall terminate on the Severance Date. In all other cases, the Option, to the extent not exercisable on the Severance Date, shall terminate. Notwithstanding any other provision herein, the Option shall not continue to vest during any leave of absence of the Participant, unless the Corporation otherwise expressly provides in connection with the leave or unless continued vesting is required as a matter of law in respect of the nature of the leave.

Effects of Termination of Employment or Service. Reference is made to that certain Employment Agreement, dated , 2006, by and between the Corporation and the Participant (the ““ Employment AgreementAgreement ”). If the Participant is terminated by the Corporation for any reason other than “Cause” (as such term is defined in the Employment Agreement) or if the Participant terminates her his employment for “Good Reason” (as such term is defined in the Employment Agreement) (the date of the Participant’s termination is referred to herein as the ““ Severance DateDate ”), the portion, if any, of the Option that is outstanding and not otherwise vested as of such Severance Date shall become fully vested immediately prior to the Severance Date and the Participant shall have twelve (12) months after the Severance Date to exercise the Option to the extent it shall be or shall have become exercisable on the Severance Date (subject to the maximum 10-year term of the Option and subject to Section 4.2); provided, however, that the Option shall terminate immediately if the Participant materially breaches the Confidentiality Agreement or the Non-Competition Agreement entered into in connection with Section 6 of the Employment Agreement. In the case of a termination for Cause, the Option shall terminate on the Severance Date. In all other cases, the Option, to the extent not exercisable on the Severance Date, shall terminate. Notwithstanding any other provision herein, the Option shall not continue to vest during any leave of absence of the Participant, unless the Corporation otherwise expressly provides in connection with the leave or unless continued vesting is required as a matter of law in respect of the nature of the leave.

Effects of Termination of Employment or Service. Reference is made to that certain Employment Agreement, dated , 2006, by and between the Corporation and the Participant (the “ Employment Agreement “Employment Agreement”). If the Participant is terminated by the Corporation for any reason other than “Cause” (as such term is defined in the Employment Agreement) or if the Participant terminates her his employment for “Good Reason” (as such term is defined in the Employment Agreement) (the date of the Participant’s termination is referred to herein as the ““ Severance DateDate ”), the portion, if any, of the Option that is outstanding and not otherwise vested as of such Severance Date shall become fully vested immediately prior to the Severance Date and the Participant shall have twelve (12) months after the Severance Date to exercise the Option to the extent it shall be or shall have become exercisable on the Severance Date (subject to the maximum 10-year term of the Option and subject to Section 4.2); provided, however, that the Option shall terminate immediately if the Participant materially breaches the Confidentiality Agreement or the Non-Competition Agreement entered into in connection with Section 6 of the Employment Agreement. In the case of a termination for Cause, the Option shall terminate on the Severance Date. In all other cases, the Option, to the extent not exercisable on the Severance Date, shall terminate. Notwithstanding any other provision herein, the Option shall not continue to vest during any leave of absence of the Participant, unless the Corporation otherwise expressly provides in connection with the leave or unless continued vesting is required as a matter of law in respect of the nature of the leave.

Effects of Termination of Employment or Service. Reference is made to that certain Employment Agreement, dated , 2006, by and between the Corporation and the Participant (the “Employment Agreement”). If the Participant is terminated by the Corporation for any reason other than “Cause” (as such term is defined in the Employment Agreement) or if the Participant terminates her his employment for “Good Reason” (as such term is defined in the Employment Agreement) (the date of the Participant’s termination is referred to herein as the “Severance Date”), the portion, if any, of the Option that is outstanding and not otherwise vested as of such Severance Date shall become fully vested immediately prior to the Severance Date and the Participant shall have twelve (12) months after the Severance Date to exercise the Option to the extent it shall be or shall have become exercisable on the Severance Date (subject to the maximum 10-year term of the Option and subject to Section 4.2); provided, however, that the Option shall terminate immediately if the Participant materially breaches the Confidentiality Agreement or the Non-Competition Agreement entered into in connection with Section 6 of the Employment Agreement. In the case of a termination for Cause, the Option shall terminate on the Severance Date. In all other cases, the Option, to the extent not exercisable on the Severance Date, shall terminate. Notwithstanding any other provision herein, the Option shall not continue to vest during any leave of absence of the Participant, unless the Corporation otherwise expressly provides in connection with the leave or unless continued vesting is required as a matter of law in respect of the nature of the leave.