Non-Renewal of Employment Agreement. In the event the Company or the Executive elects not to renew this Agreement pursuant to Section 3.1 hereof on a Renewal Date, the Date of Separation from Service shall be such Renewal Date. In the event the Company elects not to renew this Agreement pursuant to Section 3.1, the notice of non-renewal of this Agreement delivered by the Company to the Executive pursuant to Section 3.1 shall constitute delivery of a Notice of Separation from Service without Cause and the Executive shall be entitled to the compensation and benefits set forth in Section 6.4(d) or 6.4(e), as applicable.
Non-Renewal of Employment Agreement. If the Optionee’s employment is terminated as a result of the non-renewal of the Employment Agreement, the portion of the Option scheduled to vest within the 24 -month period (or 36 month period if the termination occurs within 90 days prior to a Change of Control) following the Date of Termination will vest on the appropriate date(s) as if the Optionee remained an employee. All other unvested options shall be cancelled on the Date of Termination.
Non-Renewal of Employment Agreement. If the Optionee’s employment is terminated as a result of the non-renewal of the Employment Agreement, all vested options may be exercised through the Expiration Date.
Non-Renewal of Employment Agreement. In the event that the Company does not renew this Agreement following its expiration, Company shall pay Employee severance in an amount equal to one (1) times Employee’s then-current Base Salary to be paid over a one-year period in regular periodic installments and in accordance with Company’s then-current payroll practices. Upon notice of termination of employment pursuant to paragraph 7(c) or 7(d), Company shall have the right, in its sole and absolute discretion, to immediately relieve Employee of Employee’s duties pursuant to this Agreement but to continue paying Employee’s Base Salary through the remainder of the notice period. If Employee is not relieved of Employee’s regular duties through this notice period, Employee acknowledges and agrees that Employee shall continue to perform Employee’s duties in a professional and ethical manner. Upon termination of Employee’s employment for any reason, Employee acknowledges and agrees that, except as specifically provided herein, Employee is not entitled to any other compensation or benefits following the effective date of termination. Payment of any severance amount pursuant to this agreement is conditioned upon (i) Employee’s execution of a signed general release from Employee to Company in a form to be determined and provided by Company in its reasonable discretion and (ii) Employee’s continued compliance with any and all applicable confidentiality, nonsolicitation, noncompetition, and noninterference obligations.
Non-Renewal of Employment Agreement. In the event that at the end of the Term of this Agreement, the Agreement is not renewed or a new Agreement is not entered into, and thereafter, but prior to July 1, 2000, the Employee's employment with the Corporation is terminated by the Corporation other than for cause, or due to the death or disability of the Employee, the Corporation shall pay to the Employee the Severance Amount in the manner provided in Section 5.2.
Non-Renewal of Employment Agreement. The Executive is notified by the Corporation, or the Executive gives notice to the Corporation, more than 30 days prior to the expiration of the then current (i.e., initial or renewal) term that this Agreement will not be renewed. Notice of non-renewal of this Agreement shall be communicated by dated, written “Notice of Non-Renewal” sent by Registered Mail, signed receipt requested.
Non-Renewal of Employment Agreement. If the Employment Period expires and Company does not renew or extend Executive's employment, Company shall pay to Executive within seven days of the termination date an amount equal to the sum of Executive's accrued Annual Base Salary earned but not yet paid through the termination date, and Executive shall not be entitled to any other benefits or payments under this Agreement, other than such benefits mandated by applicable law. Notwithstanding the foregoing, in the event that this Agreement is not renewed by the Board (in its sole discretion), then Executive shall be entitled to the payments and benefits set forth in Article V (E)(2), (3) and (4) of this Agreement.
Non-Renewal of Employment Agreement. If the Employment Period expires and Company does not renew or extend Executive’s employment, Company shall pay to Executive within seven days of the termination date an amount equal to the sum of Executive's accrued Annual Base Salary earned but not yet paid through the termination date, accrued vacation days, and Executive shall not be entitled to any other benefits or payments under this Agreement, other than such benefits mandated by applicable law. Notwithstanding the foregoing, in the event that this Agreement is not renewed by the Board (in its sole discretion), then Executive shall be entitled to the payment set forth in Article V (E)(2) and Article VI (G) of this Agreement, but only to the extent set forth In Article VI (H) of this Agreement.
Non-Renewal of Employment Agreement. Your Employment Agreement will not be renewed upon the expiration of its initial four (4)-year term on August 31, 2011, and your Employment Agreement will accordingly terminate and cease to have any force or effect at the close of business on that date, except that (a) the restrictive covenants set forth in Section 10 of your Employment Agreement will continue to be binding upon you for the one (1)-year period measured from the date you cease employment with the Company and (b) Sections 9, 11 through 21 and 24 of your Employment Agreement will also survive the termination of your Employment Agreement. In addition, you will remain subject to the applicable provisions of your Proprietary Information Agreement with the Company.
Non-Renewal of Employment Agreement. If the Company shall not renew this Agreement at the end of the Term, the Company's sole obligation hereunder shall be to (i) pay to the Executive an amount equal to any Annual Salary accrued and due and payable to the Executive hereunder through the last date of the Term of this Agreement, as set forth in Section 1 hereof (to be paid in accordance with the Company's usual payroll practices for executives), (ii) thereafter, pay to the Executive an amount equal to the Annual Salary (as set forth in Section 3.1) payable for one year to be paid in accordance with the Company's usual payroll practices for executives and (iii) provide to the Executive for a period of one year commencing on the day after the last date of the Term of this Agreement any benefits to which the Executive may be entitled under and in accordance with the terms of any employee benefits plan or program maintained by the Company. As of the last date of the Term of this Agreement, accrual of vacation time shall be discontinued. Upon acceptance by Executive of an employment opportunity other than the Company, payments by the Company pursuant to clauses (ii) and (iii) of this Section 5.6 shall terminate.
