ON OR AFTER NOVEMBER 7, 2001 Sample Clauses

ON OR AFTER NOVEMBER 7, 2001. In the event a Change in Control (as defined below) occurs and, thereafter, the employment of the Executive is terminated by the Company for a reason other than for Cause (as defined below) or by the Executive for Good Reason Following a Change in Control (as defined below), on or after November 7, 2001 ("Termination Date"), then the Company shall continue to pay to the Executive (as severance pay), his regular semi-monthly base salary as in effect on the Executive's last day of employment (exclusive of bonus or any other compensation), for one (1) year following the Termination Date. Unless the parties agree otherwise, the severance pay shall be paid in accordance with the Company's regular payroll practices. Additionally, with respect to each outstanding option to purchase shares of common stock of the Company then held by the Executive, on the Executive's last day of employment, the vesting of each such stock option shall be accelerated such that the Executive shall be entitled to exercise such stock options (in accordance with the exercise terms and conditions set forth in the option agreement and/or plan pursuant to which such options were granted) to the same extent as he would have been entitled had he been he continuously employed by the Company for one (1) year following the Termination Date.
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