Common use of Payment Upon Termination By The Executive Clause in Contracts

Payment Upon Termination By The Executive. Except as provided in clause (5) below, if the Executive terminates his employment with the Company for Good Reason, he shall be entitled to receive from the Company and the Company shall pay to the Executive in one lump sum, within fifteen (15) days following the date of the Executive’s termination of employment, the sum of: (i) all of the salary payments provided for in Sections 4 of this Agreement for the period beginning on the date of the Executive’s termination of employment and through the expiration date of the Agreement, as amended; and (ii) three times the eligible Target Bonus for the fiscal year in which his employment was terminated. Except as provided in clause (5) below, if the Executive terminates this Agreement for any reason other than Good Reason, he shall be entitled to salary through the date of termination. Any and all salary and Target Bonus payments shall thereupon cease and terminate.”

Payment Upon Termination By The Executive. Except as provided in clause (5) below, if the Executive terminates his employment with the Company for Good Reason, he shall be entitled to receive from the Company and the Company shall pay to the Executive in one lump sum, within fifteen (15) days following the date of the Executive’s termination Termination of employmentEmployment, the sum of: of (i) all of the salary payments provided for in Sections Section 4 of this Agreement for the period beginning on the date of the Executive’s termination Termination of employment Employment and through the expiration date of the Agreement, as amended; and (ii) three times the eligible Target Bonus for the fiscal year in which his employment was terminated. Except as provided in clause (5) below, if If the Executive terminates this Agreement for any reason other than Good Reason, he shall be entitled to salary through the date of termination. Any and all salary and Target Bonus payments shall thereupon cease and terminate.”

Payment Upon Termination By The Executive. Except as provided in clause (5) below, if the Executive terminates his her employment with the Company for Good Reason, he she shall be entitled to receive from the Company and the Company shall pay to the Executive in one lump sum, within fifteen (15) days following the date of the Executive’s 's termination of employment, the sum of: (i) all of the salary payments provided for in Sections 4 of this Agreement for the period beginning on the date of the Executive’s 's termination of employment and through the expiration date of the Agreement, as amended; and (ii) three times the eligible Target Bonus for the fiscal year in which his her employment was terminated. Except as provided in clause (5) below, if the Executive terminates this Agreement for any reason other than Good Reason, he she shall be entitled to salary through the date of termination. Any and all salary and Target Bonus payments shall thereupon cease and terminate.”