Common use of Payments; Repurchase of Stock Clause in Contracts

Payments; Repurchase of Stock. (1) In the event that the Employee's employment terminates for any reason, the Company shall pay to the Employee all amounts accrued but unpaid hereunder through the date of termination in respect of Salary and reimbursable expenses. In the event the Employee's employment is terminated by the Company without cause, in addition to the amounts specified in the previous sentence, the Employee shall (A) continue to receive Salary (less any applicable withholding or similar taxes) at the rate in effect on the date of termination for a period of 12 months following the termination (the Severance Term") and (B) remain eligible to participate in benefits offered in accordance with section 3(c) hereof during the Severance Term. Upon termination the Employee shall be entitled to a full program of outplacement assistance and upon completion of the Severance Term the Employee shall be entitled to COBRA coverage.

Payments; Repurchase of Stock. (1) In the event that the Employee's employment terminates for any reason, the Company shall pay to the Employee all amounts accrued but unpaid hereunder through the date of termination in respect of Salary and reimbursable expenses. In the event the Employee's employment is terminated by the Company without cause, in addition to the amounts specified in the previous sentence, the Employee shall (A) continue to receive Salary (less any applicable withholding or similar taxes) at the rate in effect on the date of termination for a period of 12 months following the termination (the Severance Term") and (B) -4- remain eligible to participate in benefits offered in accordance with section 3(c) hereof during the Severance Term. Upon termination the Employee shall be entitled to a full program of outplacement assistance and upon completion of the Severance Term the Employee shall be entitled to COBRA coverage.

Payments; Repurchase of Stock. (1) In the event that the Employee's employment terminates for any reason, the Company shall pay to the Employee all amounts accrued but unpaid hereunder through the date of termination in respect of Salary and reimbursable expenses. In the event the Employee's employment is terminated by the Company without cause, in addition to the amounts specified in the previous sentence, the Employee shall (A) continue to receive Salary (less any applicable withholding or similar taxes) at the rate in effect on the date of termination for a period of 12 months following the termination (the Severance Term") and (B) remain eligible to participate in benefits offered in accordance with section Section 3(c) hereof during the Severance Termseverance term. Upon termination the Employee shall be entitled to a full program of outplacement assistance and upon completion of the Severance Term the Employee shall be entitled to COBRA coverage.