Expiration of Employment Period. If Executive’s employment shall be terminated due to the normal expiration of the Employment Period, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.
Expiration of Employment Period. Upon the expiration of the Employment Period as provided in Section 2 hereof, this Agreement will cease to govern the employment relationship between Executive and the Company, except as provided in this Section 7(i). Thereafter, Executive will continue to be an employee-at-will of the Company and the employment relationship may be terminated by either Executive or the Company at any time. Any benefits to which Executive may otherwise be entitled upon his/her termination or resignation pursuant to Company plans, policies and arrangements in which he or she is a participant shall be paid in accordance with the terms of such plans, policies and arrangements in effect at such time. In addition, if Executive is terminated by the Company without Cause (as defined in Section 6) after the expiration of the Employment Period and before January 31, 2007, then, provided that Executive signs a release substantially in the form provided by the Company to other officers in release of employment:
(i) the Company shall pay to Executive in equal installments, for twelve (12) months following the Date of Termination, in accordance with the Company's normal payroll periods, an amount equal to the Executive's Annual Base Salary as in effect on the Date of Termination;
(1) All unvested options and equity based awards (including restricted stock and stock units) held by Executive as of the Date of Termination shall continue to vest in accordance with their terms for ninety (90) days following the Date of Termination and any options held by Executive which have vested prior to the Date of Termination or which vest within the ninety (90) day period following the Date of Termination shall continue to be exercisable through the earlier of the expiration of the options or the first anniversary of the Date of Termination, or; (2) any unvested options or equity based awards that are not vested at the end of the ninety (90) day period following the Date of Termination shall be forfeited by Executive; and (3) Executive shall not be entitled to any additional grants of any stock options, restricted stock, or other equity based award following the Date of Termination;
(iii) Executive will be entitled to continuation of health benefits under the Company's medical and dental plans for a period of up to thirty (30) months at a level commensurate with that which Executive would otherwise be entitled to receive under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). If Exe...
Expiration of Employment Period. If the Employee’s employment shall be terminated due to the expiration of the Employment Period as provided for in Section 3, this Agreement shall terminate without further obligations to the Employee, other than for payment of Employee's accrued but unpaid Base Salary up to and including the Date of Termination and the timely payment or provision of Other Benefits. Employee shall not be entitled to receive any additional compensation or benefits from Company.
Expiration of Employment Period. On expiration or termination of the Initial Employment Period or any Renewal Employment Period, neither party shall be under any obligation to renew Executive’s employment with Employer. Notwithstanding any of the foregoing to the contrary, Executive’s covenants under Section 12 shall continue so long as he is employed by, or provides consulting services to, the Company and for any additional periods specified therein.
Expiration of Employment Period. If Executive’s employment shall be terminated due to the normal expiration of the Employment Period, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Obligations, the Prorata Bonus and the timely payment or provision of Other Benefits. Accrued Obligations and the Prorata Bonus shall be paid to Executive in a lump sum in cash within thirty (30) days of the Date of Termination, subject to Section 15 herein. Notwithstanding the foregoing, if the Prorata Bonus becomes payable to Executive under this Section 6(d) during a period in which Executive is a Specified Employee, then, subject to any permissible acceleration of payment by the Company under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes), Executive’s right to receive payment or distribution of the Prorata Bonus will be delayed until the earlier of (i) a date no later than 30 days following Executive’s death or (ii) the first day of the seventh month following Executive’s separation from service.
Expiration of Employment Period. In the event either party elects not to extend the Employment Period pursuant to Section 1, unless Employee's employment is earlier terminated, Employee's termination of employment hereunder (whether or not Employee continues as an employee of the Company thereafter) shall be deemed to occur on the close of business on the day immediately preceding the next scheduled Extension Date. Any expiration of the Employment Period due the Company’s nonrenewal of the Employment Period shall be deemed a termination of employment without Cause for purposes of this Agreement (and consequently Employee shall be entitled to the payments and benefits set forth in Section 2(c)). In the event of the expiration of the Employment Period due to Employee’s nonrenewal of the Employment Period, Employee shall be entitled to receive the Accrued Rights. Following such termination of Employee's employment hereunder as a result of either party's election not to extend the Employment Period, except as set forth in this Section 2(d), Employee shall have no further rights to any compensation or any other benefits under this Agreement.
Expiration of Employment Period. For clarification, if Executive’s employment is terminated due to the normal expiration of the Employment Period or is terminated within 60 days after the Employment Period End Date (in each case, for reasons other than Cause, death, Disability or Retirement), this Agreement will terminate without further obligations to Executive, other than for (i) the payment of Accrued Obligations if and to the extent applicable as described in Section 6(a)(i), (ii) the payment of the Pro Rata Bonus if and to the extent applicable as described in Section 6(a)(iii)(B), (iii) the payment of the Severance Benefits (subject to the Executive’s execution of the Release) if and to the extent applicable as described in Section 6(a)(iii)(A), and (iv) the timely payment or provision of Other Benefits if and to the extent applicable as described in Section 6(a)(ii). Notwithstanding anything to the contrary in this Agreement, if the Agreement is not renewed and a new employment agreement is not offered and the Executive remains an employee of the Company in any capacity, Executive’s employment will not be governed by this Agreement and Executive will be an at-will employee. In that instance, Executive remains subject to the Restrictions on Conduct described in Section 11. Further, the parties agree that the benefits provided under Section 2(b) herein are intended to be in lieu of, and not in addition to, comparable benefits provided under Section 6.
Expiration of Employment Period. If Executive's employment is terminated pursuant to Subsection 5(a)(i) upon expiration of the Employment Period, Executive shall be entitled to no further payment of Base Salary and shall no longer be entitled to participate in the Benefit Plans, except as required by applicable law or as governed by the Benefit Plans in which Executive participates immediately prior to such termination, but Executive shall be entitled to receive any Incentive Compensation payable but not yet paid under the terms of Section 4(b) for the period from June 1, 2002 through the Termination Date.
Expiration of Employment Period. If Executive’s employment shall be terminated due to the normal expiration of the Employment Period, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits. In such case, all Accrued Obligations shall be paid to Executive in a lump sum in cash within 30 days of the Date of Termination. If Executive’s employment is not terminated upon the normal expiration of the Employment Period, he shall continue as an at-will employee of the Company and this Agreement shall be of no further force or effect.
