Common use of Non-Renewal Notice Clause in Contracts

Non-Renewal Notice. Except as provided in Sections 4(a) and (c), ------------------ if the Company provides the Executive with a Non-Renewal Notice, the Company shall (except as otherwise hereinafter provided in this Section 4(b)) pay to the Executive in a lump sum in cash, within ten days after the date of termination of employment hereunder an amount equal to (i) the Accrued Obligations; (ii) 200% of the Annual Base Salary immediately prior to such termination; (iii) any Bonus that may be owed; and (iv) the Accrued Investments, which shall be payable in accordance with the terms and conditions of the Investment Plans. In addition, except as otherwise provided in Section 4(d), the members of the Executive's family shall be entitled to continue their participation in the Company's Welfare Plans for a period of 12 months after the Date of Termination. Further, the Executive shall vest, as of the Date of Termination, in the Executive Options that would otherwise vest after the Date of Termination to the extent provided in the Option Agreement. The Company shall have no further payment obligations to the Executive or his legal representatives under this Agreement.

Non-Renewal Notice. Except as provided in Sections 4(a) and (c), ------------------ ------------------- if the Company provides the Executive with a Non-Renewal Notice, the Company shall (except as otherwise hereinafter provided in this Section 4(b)) pay to the Executive in a lump sum in cash, within ten days after the date of termination of employment hereunder an amount equal to (i) the Accrued Obligations; (ii) 200% of the Annual Base Salary immediately prior to such termination; (iii) any Bonus that may be owed; and (iv) the Accrued Investments, which shall be payable in accordance with the terms and conditions of the Investment Plans. In addition, except as otherwise provided in Section 4(d), the members of the Executive's family shall be entitled to continue their participation in the Company's Welfare Plans for a period of 12 months after the Date of Termination. Further, the Executive shall vest, as of the Date of Termination, in the Executive Options that would otherwise vest after the Date of Termination to the extent provided in the Option Agreement. The Company shall have no further payment obligations to the Executive or his legal representatives under this Agreement.

Non-Renewal Notice. Except as provided in Sections 4(a) and (c), ------------------ if the Company provides the Executive with a Non-Renewal Notice, the Company shall (except as otherwise hereinafter provided in this Section 4(b)) pay to the Executive in a lump sum in cash, within ten days after the date of termination of employment hereunder an amount equal to (i) the Accrued Obligations; (ii) 200% of the Annual Base Salary immediately prior to such termination; (iii) any Bonus that may be owed; and (iv) the Accrued Investments, which shall be payable in accordance with the terms and conditions of the Investment Plans. In addition, except as otherwise provided in Section 4(d), the members of the Executive's family shall be entitled to continue their participation in the Company's Welfare Plans for a period of 12 months after the Date of Termination. Further, the Executive shall vest, as of the Date of Termination, in the Executive Options that would otherwise vest after the Date of Termination to the extent provided in the Option Agreement. The Company shall have no further payment obligations to the Executive or his her legal representatives under this Agreement.