Non-Renewal of Employment. If employment terminates based upon the expiration of the Employment Term, then Executive shall only be entitled to receive the items referenced in Section 6(a) above.
Non-Renewal of Employment. Either OMNI or Employee may elect not to renew Employee’s employment hereunder at the end of the Initial Period, or at the end of any Additional Period thereafter, by delivery of sixty (60) calendar days prior written notice. After the expiration of the Term by reason of any such non-renewal, OMNI shall pay to Employee as soon as practicable, and in all events within 30 days following termination of employment, all amounts described in Section 6(b). Upon termination of Employee’s employment hereunder, Employee shall be deemed to have resigned from all offices, directorships, and committee positions then held with OMNI or any Affiliate.
Non-Renewal of Employment. Either OMNI or Employee may elect not to renew Employee’s employment hereunder at the end of the Initial Period, or at the end of any Additional Period thereafter, by delivery of sixty (60) calendar days prior written notice. At the expiration of the employment term, OMNI shall pay to Employee an amount equal to the sum of: (i) Employee’s earned but unpaid Annual Base Salary through the date of termination of employment at the rate then in effect, and (ii) pay for vacation earned but not used through the date of termination. If an annual bonus is awarded pursuant to Section 4(b) hereof, it shall be prorated through the date of termination and paid in accordance with Section 4(b). Upon termination of Employee’s employment hereunder, Employee shall be deemed to have resigned from all offices, directorships, and committee positions then held with OMNI or any affiliate.
Non-Renewal of Employment. In the event that Employee: (i) is employed by the Company on December 31, 2015; and (ii) has not been renewed for employment as EC from January 1, 2016 through at least December 31, 2016 with at least the following terms: (A) annual base cash pay that is at least twenty-five percent (25%) higher than the 2015 Base Cash Compensation with such annual base cash pay paid by the Company to Employee on at least a monthly basis; (B) benefits with at least the same terms as set forth in Paragraph 6 herein; (C) termination provisions and change in control provisions comparable to those set forth in (a), (b), (c), and (e) of this Paragraph 7; (D) Incentive Bonus Cash Compensation paid by the Company to Employee upon the occurrence of each Incentive Bonus Event set forth in Paragraph 3 herein during 2016; and (E) a bonus structure that guarantees Employee the issuance during 2016 (so long as Employee is not terminated for Cause prior to issuance and so long as there is not a death of Employee prior to issuance), of at least seventy-five percent (75%) of the higher of (I) the number of stock options granted to Employee during 2015; or (II) the number of stock options agreed to be granted to Employee during 2015; with all such options being cashless, having no restrictions on their exercise, vesting upon issuance, having a life of ten (10) years, and with at least one-third (1/3) of such options having an exercise price equal to the market price of the Common Stock at the time(s) of their issuance(s) and the remaining options having an exercise price no greater than twenty percent (20%) above the market price of the Common Stock at the time(s) of their issuance(s), then the Company shall pay Employee (or Employee’s estate, as soon as practicable after Employee’s death, if earlier) on the date which is no later than February 1, 2016 the sum of: (i) all Owed Amounts to which Employee is entitled to; (ii) one (1) times the 2015 Base Cash Compensation; and (iii) one-half (0.5) times the total Incentive Bonus Cash Compensation earned by Employee, regardless whether paid to Employee, during the Term. In the event of such non-renewal of employment, all outstanding stock options, warrants, restricted share awards, performance grants and the like held by Employee on Employee’s last day of service shall become fully vested and remain exercisable for the life of such award and shall not be forfeited for any reason whatsoever.
Non-Renewal of Employment. In the event that Employee: (i) is employed by the Company on December 31, 2016; and (ii) has not been renewed for employment as EC from January 1, 2017 through at least December 31, 2017 with at least the following terms: (A) annual base cash pay that is at least the same as the 2016 Base Cash Compensation with such annual base cash pay paid by the Company to Employee on at least a monthly basis; (B) benefits with at least the same terms as set forth in Paragraph 6 herein; and (C) termination provisions and Fundamental Transaction provisions comparable to those set forth in (a), (b), (c), and (e) of this Paragraph 7, then the Company shall pay Employee (or Employee’s estate, as soon as practicable after Employee’s death, if earlier) on the date which is no later than February 15, 2017 the sum of: (i) all Owed Amounts to which Employee is entitled to; (ii) one (1) times the 2016 Base Cash Compensation; and (iii) one-half (0.5) times the total Incentive Bonus Cash Compensation (as defined in Second Amendment) earned by Employee, regardless whether paid to Employee, from January 1, 2015 through December 31, 2015. In the event of such non-renewal of employment, all outstanding stock options, warrants, restricted share awards, performance grants and the like held by Employee on Employee’s last day of service shall become fully vested and remain exercisable for the life of such award and shall not be forfeited for any reason whatsoever.
Non-Renewal of Employment. Either OMNI or Employee may elect not to renew Employee's employment hereunder at the end of the Initial Period, or at the end of any Additional Period thereafter, by delivery of sixty (60) calendar days prior written notice by the electing party to the other party. At the expiration of the employment term, OMNI shall pay to Employee an amount equal to the sum of (i) Employee's earned but unpaid Annual Base Salary through the date of termination of employment at the rate then in effect and (ii) vacation pay earned but not taken to the date of such termination.
Non-Renewal of Employment. Either OMNI or Employee may elect not to renew Employee’s employment hereunder at the end of the Initial Period, or at the end of any Additional Period thereafter, by delivery of thirty (30) calendar days prior written notice by the electing party to the other party. At the expiration of the employment term, OMNI shall pay to Employee an amount equal to the sum of: (i) Employee’s earned but unpaid Annual Base Salary through the date of termination of employment at the rate then in effect and (ii) vacation pay earned but not taken to the date of such termination. Upon termination of Employee’s employment hereunder, Employee shall be deemed to have resigned from all offices, directorships, and committee positions then held with OMNI or any Affiliate.
Non-Renewal of Employment. Change of Control of the Company or Place of Work: Upon the termination of your employment not for Cause (including on account of your disability or death) or due to a Change in Control or a change in your place of work as set forth in Section 4 above, you shall be entitled to six months full salary and any accrued vacation, plus one year of Company medical and health benefits.
Non-Renewal of Employment. Preheat may elect not to continue Employee’s employment hereunder beyond the end of the Initial Period by delivery of thirty (30) calendar days prior written notice to the Employee. At the expiration of the employment term, pursuant to this subparagraph, Preheat shall pay to Employee an amount equal to the sum of: (i) Employee’s earned but unpaid Annual Base Salary through the date of termination of employment at the rate then in effect, and (ii) vacation pay earned during the current year but not taken to the date of such termination. Upon termination of Employee’s employment hereunder, Employee shall be deemed to have resigned from all offices, directorships, and committee positions then held with Preheat, OMNI or any Affiliate.
Non-Renewal of Employment. Either CHI or Employee may elect not to renew Employee’s employment hereunder at the end of the Initial Period, or at the end of any Additional Period thereafter, by delivery of thirty (30) calendar days prior written notice by the electing party to the other party. At the expiration of the employment term, CHI shall pay to Employee an amount equal to the sum of: (i) Employee’s earned but unpaid Annual Base Salary through the date of termination of employment at the rate then in effect and (ii) vacation pay earned but not taken to the date of such termination. Upon termination of Employee’s employment hereunder, Employee shall be deemed to have resigned from all offices, directorships, and committee positions then held with CHI, OMNI or any Affiliate.
