Common use of Involuntary Termination by the Company without Cause Clause in Contracts

Involuntary Termination by the Company without Cause. At all times during the term of this Agreement, the CEO may terminate the Executive's employment, as provided under this Agreement, at any time, for reasons other than death, Disability, Retirement, or for Cause, by notifying the Executive in writing of the Company's intent to terminate, at least thirty (30) calendar days prior to the Effective Date of Termination that is specified by the Company in the written notice. In addition, the Company's unilateral decision to refrain from renewing the term of this Agreement at the Expiration Date shall be deemed an involuntary termination without Cause. Upon the Effective Date of Termination, the Company shall pay to the Executive an amount payable in equal monthly installments over the following twenty-four (24) months equal to the product of two (2) times both the Base Salary and the Executive's target Annual Bonus established for the fiscal year in which the Executive's Effective Date of Termination occurs. The Company shall also pay to the Executive the amount equal to a pro rata share of target Annual Bonus for the calendar year in which the Effective Date of Termination occurs (the calculation by which the Annual Bonus is multiplied by a fraction, the numerator of which is the number of full completed days in the bonus plan year through the Effective Date of Termination, and the denominator of which is three hundred sixty-five (365). In addition, the Company shall continue, at the same cost to the Executive as existed as of the Effective Date, all health, welfare, and benefit plan participation for two (2) full years following employment termination provided that the applicable COBRA health insurance benefit continuation period shall begin as of the Effective Date of Termination. The Company shall also provide the Executive with outplacement services not to exceed a cost of fifty thousand dollars ($50,000).

Involuntary Termination by the Company without Cause. At all times during the term of this Agreement, the CEO Chief Executive Officer may terminate the Executive's employment, as provided under this Agreement, at any time, for reasons other than death, Disability, Retirement, or for Cause, by notifying the Executive in writing of the Company's intent to terminate, at least thirty (30) calendar days prior to the Effective Date of Termination that is specified by the Company in the written notice. In addition, the Company's unilateral decision to refrain from renewing the term of this Agreement at the Expiration Date shall be deemed an involuntary termination without Cause. Upon the Effective Date of Termination, the Company shall pay to the Executive an amount payable in equal monthly installments over the following twenty-four (24) months equal to the product of two (2) times both the Base Salary and the Executive's target Annual Bonus established for the fiscal year in which the Executive's Effective Date of Termination occurs. The Company shall also pay to the Executive the amount equal to a pro rata share of target Annual Bonus for the calendar year in which the Effective Date of Termination occurs (the calculation by which the Annual Bonus is multiplied by a fraction, the numerator of which is the number of full completed days in the bonus plan year through the Effective Date of Termination, and the denominator of which is three hundred sixty-five (365). In addition, the Company shall continue, at the same cost to the Executive as existed as of the Effective Date, all health, welfare, and benefit plan participation for two (2) full years following employment termination provided that the applicable COBRA health insurance benefit continuation period shall begin as of the Effective Date of Termination. The Company shall also provide the Executive with outplacement services not to exceed a cost of fifty thousand dollars ($50,000).

Involuntary Termination by the Company without Cause. At all times during the term of this Agreement, the CEO may terminate the Executive's ’s employment, as provided under this Agreement, at any time, for reasons other than death, Disability, Retirement, or for Cause, by notifying the Executive in writing of the Company's ’s intent to terminate, at least thirty (30) calendar days prior to the Effective Date of Termination that is specified by the Company in the written notice. In addition, the Company's ’s unilateral decision to refrain from renewing the term of this Agreement at the Expiration Date shall be deemed an involuntary termination without Cause. Upon the Effective Date of Termination, the Company shall pay to the Executive an amount payable in equal monthly installments over the following twenty-four (24) months equal to the product of two (2) times both the Base Salary and the Executive's ’s target Annual Bonus established for the fiscal year in which the Executive's ’s Effective Date of Termination occurs. The Company shall also pay to the Executive the amount equal to a pro rata share of target Annual Bonus for the calendar year in which the Effective Date of Termination occurs (the calculation by which the Annual Bonus is multiplied by a fraction, the numerator of which is the number of full completed days in the bonus plan year through the Effective Date of Termination, and the denominator of which is three hundred sixty-five (365). In addition, the Company shall continue, at the same cost to the Executive as existed as of the Effective Date, all health, welfare, and benefit plan participation for two (2) full years following employment termination provided that the applicable COBRA health insurance benefit continuation period shall begin as of the Effective Date of Termination. The Company shall also provide the Executive with outplacement services not to exceed a cost of fifty thousand dollars ($50,000).

Involuntary Termination by the Company without Cause. At all times during the term of this Agreement, the CEO Board may terminate the Executive's employment, as provided under this Agreement, at any time, for reasons other than death, Disability, Retirement, or for Cause, by notifying the Executive in writing of the Company's intent to terminate, at least thirty (30) calendar days prior to the Effective Date of Termination that is specified by the Company in the written notice. In addition, the Company's unilateral decision to refrain from renewing the term of this Agreement at the Expiration Date shall be deemed an involuntary termination without Cause. Upon the Effective Date of Termination, the Company shall pay to the Executive an amount payable in equal monthly installments over the following twenty-four (24) months equal to the product of two (2) times both the Base Salary and the Executive's target Annual Bonus established for the fiscal year in which the Executive's Effective Date of Termination occurs. The Company shall also pay to the Executive the amount equal to a pro rata share of target Annual Bonus for the calendar year in which the Effective Date of Termination occurs (the calculation by which the Annual Bonus is multiplied by a fraction, the numerator of which is the number of full completed days in the bonus plan year through the Effective Date of Termination, and the denominator of which is three hundred sixty-five (365). In addition, the Company shall continue, at the same cost to the Executive as existed as of the Effective Date, all health, welfare, and benefit plan participation for two (2) full years following employment termination provided that the applicable COBRA health insurance benefit continuation period shall begin as of the Effective Date of Termination. The Company shall also provide the Executive with outplacement services not to exceed a cost of fifty thousand dollars ($50,000).