Common use of Expiration of Term of Agreement Clause in Contracts

Expiration of Term of Agreement. In the event Executive’s employment is terminated by the Company at the end of the Term, the Company shall pay or provide the following amounts to Executive: (i) the Standard Termination Payments; (ii) an amount equal to the Executive’s base salary then in effect, payable in equal installments in accordance with the Company’s normal payroll practices over a period of twelve (12) months after such termination, and otherwise in accordance with Section 4(g); (iii) no later than March 15 following the end of the year in which such termination occurs, in lieu of any Incentive Compensation for the year in which such termination occurs, payment of an amount equal to (A) the Incentive Compensation which would have been payable to Executive had Executive remained in employment with the Company during the entire year in which such termination occurred, multiplied by (B) a fraction the numerator of which is the number of days Executive was employed in the year in which such termination occurs and the denominator of which is the total number of days in the year in which such termination occurs; and (iv) if Executive timely elects to continue medical coverage under the Company’s group health plan in accordance with COBRA, the full monthly premiums for such coverage on a monthly basis until the earlier of: (A) a period of twelve (12) months has elapsed; or (B) Executive is eligible for medical coverage under a plan provided by a new employer.

Expiration of Term of Agreement. In the event Executive’s employment is terminated by the Company at the end of the Term, the Company shall pay or provide the following amounts to Executive: (i) i. the Standard Termination Payments; (ii) . an amount equal to the Executive’s base salary then in effect, payable in equal installments in accordance with the Company’s normal payroll practices over a period of twelve twenty-four (1224) months after such termination, and otherwise in accordance with Section 4(g); (; iii) . no later than March 15 following the end of the year in which such termination occurs, in lieu of any Incentive Compensation for the year in which such termination occurs, payment of an amount equal to (A) the Incentive Compensation which would have been payable to Executive had Executive remained in employment with the Company during the entire year in which such termination occurred, multiplied by (B) a fraction the numerator of which is the number of days Executive was employed in the year in which such termination occurs and the denominator of which is the total number of days in the year in which such termination occurs; and (iv) . if Executive timely elects to continue medical coverage under the Company’s group health plan in accordance with COBRA, the full monthly premiums for such coverage on a monthly basis until the earlier of: (A) a period of twelve eighteen (1218) months has elapsed; or (B) Executive is eligible for medical coverage under a plan provided by a new employer.

Expiration of Term of Agreement. In the event Executive’s employment is terminated by the Company at the end of the Term, the Company shall pay or provide the following amounts to Executive: (i) the Standard Termination Payments; (ii) an amount equal to two (2) times the Executive’s annual base salary then in effect, effect payable in equal installments in accordance with the Company’s normal payroll practices over a period of twelve twenty-four (1224) months after such termination, and otherwise in accordance with Section 4(g); (iii) no later than March 15 following the end of the year in which such termination occurs, in lieu of any Incentive Compensation for the year in which such termination occurs, payment of an amount equal to (A) the Incentive Compensation which would have been payable to Executive had Executive remained in employment with the Company during the entire year in which such termination occurred, multiplied by (B) a fraction the numerator of which is the number of days Executive was employed in the year in which such termination occurs and the denominator of which is the total number of days in the year in which such termination occurs; and (iv) if Executive timely elects to continue medical coverage under the Company’s group health plan in accordance with COBRA, the full monthly premiums for such coverage on a monthly basis until the earlier of: (A) a period of twelve eighteen (1218) months has elapsed; or (B) Executive is eligible for medical coverage under a plan provided by a new employer.