Common use of On or After a Change in Control Clause in Contracts

On or After a Change in Control. If the Qualifying Termination occurs on or within twelve (12) months following a Change in Control, and the Employee executes the Release in accordance with Section 3.4 below, the Company shall: (a) Pay to Employee a severance payment equal to two times the sum of: (i) the Employee’s Base Salary, plus (ii) the Annual Bonus Amount, plus Such amount shall be paid in a lump sum on the sixtieth (60th) day after the Date of Termination. (b) In addition, all stock options, restricted stock, restricted stock units, and other equity incentive awards shall become vested as of the date of the Qualifying Termination. (c) In addition, provided Employee timely elects continuation coverage under COBRA, the Company shall pay for 12 months following the Date of Termination (or such shorter period as Employee is entitled to COBRA continuation coverage under the terms of the Company’s insurance policies or plans), the premiums for the coverage elected by Employee.

On or After a Change in Control. If the Qualifying Termination occurs on or within twelve (12) months following a Change in Control, and the Employee executes the Release in accordance with Section 3.4 3.3 below, the Company shall: (a) Pay to Employee a severance payment equal to two times the sum of: (i) the Employee’s Base Salary, plus (ii) the Annual Bonus Amount, plus . Such amount shall be paid in a lump sum on the sixtieth (60th) day after the Date of Termination. (b) In addition, all stock options, restricted stock, restricted stock units, and other equity incentive awards shall become vested as of the date of the Qualifying Termination. (c) In addition, provided Employee timely elects continuation coverage under COBRA, the Company shall pay for 12 months following the Date of Termination (or such shorter period as Employee is entitled to COBRA continuation coverage under the terms of the Company’s insurance policies or plans), the premiums for the coverage employee and the dependents as elected at the Date of Termination, subject to any changes to the benefits allowed under COBRA by Employeethe Company as offered to its employees.