Common use of Immediately upon Clause in Contracts

Immediately upon. TCI giving Employee written notice of the termination of Employee's employment without cause. Employee shall be entitled to the following benefits. I. Employee continues to receive as severance pay Employee's then current monthly base salary for a period of twelve months from the actual date of termination. II. Should Employee timely elect to exercise any rights to continue health insurance under COBRA, TCI shall pay the cost of the continuation coverage for a period of twelve months from the actual date of termination after which period the cost of any further continuation coverage shall be solely at Employee's expense. III. TCI shall pay the cost of disability and life insurance coverage for a period of twelve months from the actual date of termination after which period the cost of any further coverage shall be solely at Employee's expense. IV. Employee's unvested stock options shall vest in their entirety and Employee shall have ten years from date of issuance to exercise stock options.