Common use of Nonrenewal Termination Clause in Contracts

Nonrenewal Termination. Subject to Section 8(g), in the case of a Nonrenewal Termination, the Company shall pay to Employee (i) Employee's base Salary and accrued PTO through the date of Termination, paid within 30 days following the Termination Date. Employee shall also be entitled to a severance payment equal to (ii) the greater of two times Employee's current Base Salary or the minimum Base Salary due under the remaining Term, paid in a single lump sum within 30 days following the Date of Termination, and (iii) the COBRA Reimbursement (defined below), paid as on or before the 30th day following the Date of Termination (iv) a pro-rata Annual Bonus (based upon actual company performance and the days of employment in the calendar year of Termination), to be paid in a single lump sum no later than March 15 of the year following the year of termination described below, but items (ii), (iii) and (iv) are payable only if and to the extent an irrevocable and valid Release (as hereinafter defined), has been signed by the Employee. If the Company has offered the Employee a new employment agreement that is substantially similar to the agreements of similarly situated Executives, and Employee declines to accept such new employment agreement, such declination will be considered a voluntary quit and no payments under this Section 9(c) shall be payable to Employee.

Nonrenewal Termination. Subject to Section 8(g), in the case of a Nonrenewal Termination, the Company shall pay to Employee (i) Employee's ’s base Salary and accrued PTO through the date of Termination, paid within 30 days following the Termination Date. Employee shall also be entitled to a severance payment equal to (ii) the greater of two times Employee's ’s current Base Salary or the minimum Base Salary due under the remaining Term, paid in a single lump sum within 30 days following the Date of Termination, and (iii) the COBRA Reimbursement (defined below), paid as on or before the 30th day following the Date of Termination (iv) a pro-rata Annual Bonus (based upon actual company performance and the days of employment in the calendar year of Termination), to be paid in a single lump sum no later than March 15 of the year following the year of termination described below, but items (ii), (iii) and (iv) are payable only if and to the extent an irrevocable and valid Release (as hereinafter defined), has been signed by the Employee. If the Company has offered the Employee a new employment agreement that is substantially similar to the agreements of similarly situated Executives, and Employee declines to accept such new employment agreement, such declination will be considered a voluntary quit and no payments under this Section 9(c) shall be payable to Employee.

Nonrenewal Termination. Subject to Section 8(g), in the case of a Nonrenewal Termination, the Company shall pay to Employee (i) Employee's base Salary and accrued PTO through the date of Termination, paid within 30 days following the Termination Date. Employee shall also be entitled to a severance payment equal to (ii) the greater of two times Employee's current Base Salary or the minimum Base Salary due under the remaining Term, paid in a single lump sum within 30 days following the Date of Termination, and (iii) the COBRA Reimbursement (defined below), paid as on or before the 30th day following the Date of Termination and, (iv) a pro-rata Annual Bonus (based upon actual company performance and the days of employment in the calendar year of Termination), to be paid in a single lump sum no later than March 15 of the year following the year of termination described below, but items . Items (ii), (iii) and (iv) are payable only if and to the extent an irrevocable and valid Release (as hereinafter defined), has been signed by the Employee. If the Company has offered the Employee a new employment agreement that is substantially similar to the agreements of similarly situated ExecutivesExecutives and provides Employee compensation equal to or greater than his then current compensation, and Employee declines to accept such new employment agreement, such declination will be considered a voluntary quit and no payments under this Section 9(c) shall be payable to Employee.

Nonrenewal Termination. Subject to Section 8(g), in the case of a Nonrenewal Termination, the Company shall pay to Employee (i) Employee's base Salary and accrued PTO through the date of Termination, paid within 30 days following the Termination Date. Employee shall also be entitled to a severance payment equal to (ii) the greater of two one times Employee's current Base Salary or the minimum Base Salary due under the remaining Term, paid in a single lump sum within 30 days following the Date of Termination, and (iii) the COBRA Reimbursement (defined below), paid as on or before the 30th day following the Date of Termination (iv) a pro-rata Annual Bonus (based upon actual company performance and the days of employment in the calendar year of Termination), to be paid in a single lump sum no later than March 15 of the year following the year of termination described below, but items (ii), (iii) and (iv) are payable only if and to the extent an irrevocable and valid Release (as hereinafter defined), has been signed by the Employee. If the Company has offered the Employee a new employment agreement that is substantially similar to the agreements of similarly situated Executives, and Employee declines to accept such new employment agreement, such declination will be considered a voluntary quit and no payments under this Section 9(c) shall be payable to Employee.

Nonrenewal Termination. Subject to Section 8(g), in the case of a Nonrenewal Termination, the Company shall pay to Employee (i) Employee's ’s base Salary and accrued PTO through the date of Termination, paid within 30 days following the Termination Date. Employee shall also be entitled to a severance payment equal to (ii) the greater of two one times Employee's ’s current Base Salary or the minimum Base Salary due under the remaining Term, paid in a single lump sum within 30 days following the Date of Termination, and (iii) the COBRA Reimbursement (defined below), paid as on or before the 30th day following the Date of Termination (iv) a pro-rata Annual Bonus (based upon actual company performance and the days of employment in the calendar year of Termination), to be paid in a single lump sum no later than March 15 of the year following the year of termination described below, but items (ii), (iii) and (iv) are payable only if and to the extent an irrevocable and valid Release (as hereinafter defined), has been signed by the Employee. If the Company has offered the Employee a new employment agreement that is substantially similar to the agreements of similarly situated Executives, and Employee declines to accept such new employment agreement, such declination will be considered a voluntary quit and no payments under this Section 9(c) shall be payable to Employee.