Common use of Payments to Employee Upon Termination of Employment Clause in Contracts

Payments to Employee Upon Termination of Employment. a. Upon the termination of Employee’s employment with the Company pursuant to Section 7(a) or 7(f), Employee shall be entitled only to: i. Any Salary or portion thereof, earned but not yet paid through the date of termination; ii. Reimbursement in accordance with this Agreement of any business expense reasonably incurred by Employee through the date of termination but not yet paid; iii. Any vested benefits that may be due to Employee on the date of termination under the provisions of any of the Company’s benefits plan, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and Upon the effective date of such termination, any rights of the Employee to future compensation under the Bonus Plan, including without limitation, any liquidation bonus, shall immediately terminate and the Employee shall not be entitled to any distribution under the Bonus Plan. b. If, prior to the end of the Term, Employee’s employment is terminated by the Company pursuant to Section 7(b), 7(c), 7(d), or 7(e), Employee shall be entitled only to: i. Any Salary or portion thereof, earned but not yet paid through the date of termination; ii. Reimbursement in accordance with this Agreement of any business expense reasonably incurred by Employee through the date of termination but not yet paid; iii. Any vested benefits that may be due to Employee on the date of termination under the provisions of any of the Company’s benefits plan, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and v. Participation in the Bonus Plan as provided for therein based on the occurrence of death or disability.

Payments to Employee Upon Termination of Employment. a. Upon the termination of the Employee’s employment with the Company if such termination is without Cause pursuant to Section 7(a11(D), the Employer shall pay to the Employee an amount equal to the monthly portion of Employee’s base salary on the date of termination multiplied by the lesser of twelve (12) months or 7(f)the number of months remaining in the Term (the “Severance Period”) Any amounts due hereunder shall be paid at such times and in such manner as the Employee had been previously paid his base salary. If, during the Severance Period, Employee obtains a new position but Employee’s annual compensation shall be less that the base salary provided herein, then Employer shall pay to Employee the difference for the balance of the Severance Period, “Difference” shall be defined as the difference between Employee’s base salary for any year or lesser period in which this Agreement would have been in effect and the annualized compensation payable to Employee in his new position during such period, Such Difference shall be paid to Employee in the same manner as base salary had been paid prior to such termination over the period of such reemployment over such period. If the Employee’s reemployment in a new position shall terminate, then for the purposes of this paragraph, Employee shall be entitled to continuation of his base salary until he shall again be reemployed, in which case only to: i. Any Salary or portion thereofthe Difference shall be payable as aforesaid. Employee shall at all times use his best efforts to become reemployed as soon as possible in a position consistent with Employee’s experience and stature. The payments provided herein are in lieu of any other payments due the Employee including, earned but not yet paid through the date of termination; ii. Reimbursement in accordance with this Agreement of any business expense reasonably incurred by Employee through the date of termination but not yet paid; iii. Any vested benefits that may be due to Employee on the date of termination under the provisions of any of the Company’s benefits plan, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and Upon the effective date of such terminationlimited to, any rights claim for breach of the Employee to future compensation under the Bonus Plan, including without limitation, any liquidation bonus, shall immediately terminate and the Employee shall not be entitled to any distribution under the Bonus Plancontract. b. If, prior to the end of the Term, Employee’s employment is terminated by the Company pursuant to Section 7(b), 7(c), 7(d), or 7(e), Employee shall be entitled only to: i. Any Salary or portion thereof, earned but not yet paid through the date of termination; ii. Reimbursement in accordance with this Agreement of any business expense reasonably incurred by Employee through the date of termination but not yet paid; iii. Any vested benefits that may be due to Employee on the date of termination under the provisions of any of the Company’s benefits plan, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and v. Participation in the Bonus Plan as provided for therein based on the occurrence of death or disability.

Payments to Employee Upon Termination of Employment. a. Upon A. Subject to the termination provisions of Sections 8(B) and 8(C) below, in the event Employee’s 's employment with the Company shall terminate during the Term for any of the reasons set forth in Section 7, or thereafter pursuant to Section 7(a) or 7(f), Employee 2: [i] Employee's Salary shall be entitled only to: i. Any Salary or portion thereof, earned but not yet prorated and paid through the date of termination; ; and [ii. Reimbursement in accordance with this Agreement ] all unvested options to purchase Common Stock of any business expense reasonably incurred by Employee through the Company shall cease and terminate as of the date of termination. B. In the event of Employee's termination but not yet paid; iii. Any vested benefits that may be due pursuant to Employee on the date of termination under the provisions of any of the Company’s benefits planSection 7(B) or 7(F) hereof, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and Upon the effective date of such termination, any rights of the Employee to future compensation under the Bonus Plan, including without limitation, any liquidation bonus, shall immediately terminate and the Employee shall not be entitled to receive, at such time as it would otherwise be payable, any distribution under Incentive Cash Bonus which would have been payable, based upon the Bonus PlanCompany's performance over the full fiscal year, prorated for that portion of the fiscal year during which the Employee was employed by the Company. b. IfC. In the event of Employee's termination pursuant to Section 7(F), prior the Company agrees to continue to pay Employee his full Salary during such period of disability, said payments to continue for a maximum of six (6) months. Thereafter, Employee shall be paid such disability benefits as may be paid pursuant to the end of the Termdisability insurance, Employee’s employment is terminated if any, provided to Employee by the Company pursuant to Section 7(b)4(D) of this Agreement. D. In the event of Employee's termination of employment prior to the expiration of the Term, 7(c)for any reason other than those set forth in Section 7 of this Agreement, 7(d), or 7(e), the Company shall pay Employee shall be entitled only to: i. Any Salary or portion thereof, earned but not yet paid through [i] in equal monthly installments for a period of twelve (12) months from the date of termination; ii. Reimbursement , an amount, in accordance with this Agreement the aggregate, equal to one half (50%) of any business expense reasonably incurred by Employee through the date of termination but not yet paid; iii. Any vested benefits that may be due to Employee Employee's Salary in effect on the date of termination under termination, and [ii] at such time as it otherwise would have been payable, the provisions of any Incentive Cash Bonus, if any, which would have been payable, based upon the Company's performance over the full fiscal year, prorated for that portion of the fiscal year during which Employee was employed by the Company’s benefits plan, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and v. Participation in the Bonus Plan as provided for therein based on the occurrence of death or disability.

Payments to Employee Upon Termination of Employment. a. Upon A. Subject to the termination provisions of Sections 7(B) and 7(C) below, in the event Employee’s 's employment with the Company shall terminate during the Term for any reason including termination as provided in Section 6, or thereafter pursuant to Section 7(a) or 7(f), Employee 2: [i] Employee's Salary shall be entitled only to: i. Any Salary or portion thereof, earned but not yet prorated and paid through the date of termination; ; and [ii. Reimbursement in accordance with this Agreement ] all unvested options to purchase common stock of any business expense reasonably incurred by Employee through the Company shall cease and terminate as of the date of termination but not yet paid; iii. Any vested benefits that may be due to Employee on the date of termination under the provisions of any of the Company’s benefits plan, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and Upon the effective date of such termination, any rights of the Employee to future compensation under the Bonus Plan, including without limitation, any liquidation bonus, shall immediately terminate and the Employee shall not be entitled to any distribution under the Bonus Plan. b. If, prior to B. In the end event of the Term, Employee’s employment is terminated by the Company 's termination pursuant to Section 7(b), 7(c), 7(d), 6(B) or 7(e)6(F) hereof, Employee shall be entitled only to:to receive, at such time as it would otherwise be payable, any Incentive Cash Bonus which would have been payable, based upon the Company's performance over the full fiscal year, prorated for that portion of the fiscal year during which the Employee was employed by the Company. i. Any C. In the event of Employee's termination pursuant to Section 6(F), the Company agrees to continue to pay Employee's full Salary or portion thereofduring such period of disability, earned but not yet said payments to continue for a maximum of six (6) months. Thereafter, Employee shall be paid through disability benefits pursuant to the disability insurance, if any, established by the Company and in which Employee participates pursuant to Section 4(D) of this Agreement. D. In the event of Employee's termination of employment prior to the expiration of the Term, for any reason other than those reasons set forth in Section 6 of this Agreement, the Company shall [i] pay Employee in equal monthly installments for a period of twelve (12) months from the date of termination (the "Severance Period"), an amount, in the aggregate, equal to Employee's annual Salary in effect at the date of termination; ii. Reimbursement in accordance with this Agreement , which installments shall be mitigated and reduced by the amount of any business expense reasonably incurred by Employee through the date of termination but not yet paid; iii. Any vested benefits that may be due compensation paid to Employee on by another employer for services performed during the date of termination under Severance Period (and Employee agrees in good faith to seek to obtain and maintain such other employment during the provisions of any Severance Period), and [ii] pay Employee at such time as it otherwise would have been payable, the Incentive Cash Bonus, if any, which would have been payable, based upon the Company's performance over the full fiscal year, prorated for that portion of the fiscal year during which Employee was employed by the Company’s benefits plan, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and v. Participation in the Bonus Plan as provided for therein based on the occurrence of death or disability.

Payments to Employee Upon Termination of Employment. a. Upon A. Subject to the termination provisions of Sections 8(B) and 8(C) below, in the event Employee’s 's employment with the Company shall terminate during the Term for any of the reasons set forth in Section 7, or thereafter pursuant to Section 7(a) or 7(f), Employee 2: [i] Employee's Salary shall be entitled only to: i. Any Salary or portion thereof, earned but not yet prorated and paid through the date of termination; ; and [ii. Reimbursement in accordance with this Agreement ] all unvested options to purchase common stock of any business expense reasonably incurred by Employee through the Company shall cease and terminate as of the date of termination. B. In the event of Employee's termination but not yet paid; iii. Any vested benefits that may be due pursuant to Employee on the date of termination under the provisions of any of the Company’s benefits planSection 7(B) or 7(F) hereof, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and Upon the effective date of such termination, any rights of the Employee to future compensation under the Bonus Plan, including without limitation, any liquidation bonus, shall immediately terminate and the Employee shall not be entitled to receive, at such time as it would otherwise be payable, any distribution under Incentive Cash Bonus which would have been payable, based upon the Bonus PlanCompany's performance over the full fiscal year, prorated for that portion of the fiscal year during which the Employee was employed by the Company. b. IfC. In the event of Employee's termination pursuant to Section 7(F), prior the Company agrees to continue to pay Employee his full Salary during such period of disability, said payments to continue for a maximum of six (6) months. Thereafter, Employee shall be paid such disability benefits as may be paid pursuant to the end of the Term, Employee’s employment is terminated disability insurance theretofore agreed on by Employee and the Company pursuant to Section 7(b)4(F) of this Agreement. D. In the event of Employee's termination of employment prior to the expiration of the Term, 7(c)for any reason other than those reasons set forth in Section 7 of this Agreement, 7(d), or 7(e), the Company shall [i] pay Employee shall be entitled only to: i. Any Salary or portion thereof, earned but not yet paid through in equal monthly installments for a period of twelve (12) months from the date of termination; , an amount, in the aggregate, equal to Employee's Salary, [ii. Reimbursement in accordance with this Agreement ] pay Employee at such time as it otherwise would have been payable, the Incentive Cash Bonus, if any, which would have been payable, based upon the Company's performance over the full fiscal year, prorated for that portion of any business expense reasonably incurred the fiscal year during which Employee was employed by the Company, and [iii] upon receipt of written notice from Employee through within twenty (20) days of such termination of employment, purchase at a closing within ninety (90) days from the date of termination termination, (a) all of Employee's vested but not yet paid; iii. Any vested benefits that unexercised options to purchase stock of the Company for an amount equal to the fair market value of the shares subject to the options less the exercise price therefor, and (b) the shares of stock of the Company purchased by Employee pursuant his exercise of said options for an amount equal to the fair market value thereof, as the case may be due (in the case of both (a) and (b), fair market value shall be determined by agreement between the Company and Employee, or, if the Company and Employee are unable to Employee agree on the date fair market value within thirty (30) days after termination, then each of termination under the provisions Company and Employee shall promptly select an appraiser, and such appraisers shall together promptly select a third appraiser, and the third appraiser will, within thirty (30) days of his appointment, determine the fair market value of the shares, and Employee and the Company shall each bear fifty percent (50%) of the cost and expense of this appraisal process, including the fees of any appraisers appointed in accordance herewith), and if in the case of (a) the Company’s benefits plan, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under fair market value does not exceed the APORRI Plan prior to the effective date exercise price of such termination; and v. Participation options, then such options shall be repurchased by the Company for one hundred dollars ($100) in the Bonus Plan as provided for therein based on the occurrence of death or disabilityaggregate.

Payments to Employee Upon Termination of Employment. a. Upon A. Subject to the termination provisions of Sections 8(B) and 8(C) below, in the event Employee’s 's employment with the Company shall terminate during the Term for any of the reasons set forth in Section 7, or thereafter pursuant to Section 7(a) or 7(f), Employee 2: [i] Employee's Salary shall be entitled only to: i. Any Salary or portion thereof, earned but not yet prorated and paid through the date of termination; ; and [ii. Reimbursement in accordance with this Agreement ] all unvested options to purchase common stock of any business expense reasonably incurred by Employee through the Company shall cease and terminate as of the date of termination but not yet paid; iii. Any vested benefits that may be due to Employee on the date of termination under the provisions of any of the Company’s benefits plan, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and Upon the effective date of such termination, any rights of the Employee to future compensation under the Bonus Plan, including without limitation, any liquidation bonus, shall immediately terminate and the Employee shall not be entitled to any distribution under the Bonus Plan. b. If, prior to B. In the end event of the Term, Employee’s employment is terminated by the Company 's termination pursuant to Section 7(b)7.B, 7(c), 7(d), 7.E. 7.F or 7(e)7.H hereof, Employee shall be entitled only to:to receive, at such time as it would otherwise be payable, any Incentive Cash Bonus which would have been payable, based upon the Company's performance over the full fiscal year, prorated for that portion of the fiscal year during which the Employee was employed by the Company. i. Any C. In the event of Employee's termination pursuant to Section 7(F), the Company agrees to continue to pay Employee her full Salary or portion thereofduring such period of disability, earned but not yet said payments to continue for a maximum of six (6) months. Thereafter, Employee shall be paid through disability benefits pursuant to the disability insurance, if any, established by the Company and in which Employee participates pursuant to Section 4(E) of this Agreement. D. In the event of Employee's termination of employment prior to the expiration of the Term, for any reason other than those reasons set forth in Section 7 of this Agreement, the Company shall [i] pay Employee in equal monthly installments for a period of twelve (12) months from the date of termination; ii. Reimbursement , an amount, in accordance with this Agreement of any business expense reasonably incurred by Employee through the aggregate, equal to Employee's annual Salary in effect at the date of termination but not yet paid; iii. Any vested benefits and [ii] pay Employee at such time as it otherwise would have been payable, the Incentive Cash Bonus, if any, which would have been payable, based upon the Company's performance over the full fiscal year, prorated for that may portion of the fiscal year during which Employee was employed by the Company; provided that the amounts set forth in this Section 8.D shall be payable (i) to Employee's estate if Employee's termination of employment prior to expiration of the Term is due to Employee on her death and, at such time, the date of termination under the provisions of any of the Company’s benefits plan, program Company does not provide life insurance or policy; iv. Any overriding royalty interests conveyed (ii) to Employee or otherwise due Employee under the APORRI Plan prior to the effective date if Employee's employment is terminated as a result of such termination; and v. Participation in the Bonus Plan an Involuntary Termination as provided for therein based on the occurrence of death or disabilityin Section 7.H above.

Payments to Employee Upon Termination of Employment. a. Upon A. Subject to the termination provisions of Sections 8(B) and 8(C) below, in the event Employee’s 's employment with the Company shall terminate during the Term for any of the reasons set forth in Section 7, or thereafter pursuant to Section 7(a) or 7(f), Employee 2: [i] Employee's Salary shall be entitled only to: i. Any Salary or portion thereof, earned but not yet prorated and paid through the date of termination; ; and [ii. Reimbursement in accordance with this Agreement ] all unvested options to purchase common stock of any business expense reasonably incurred by Employee through the Company shall cease and terminate as of the date of termination. B. In the event of Employee's termination but not yet paid; iii. Any vested benefits that may be due pursuant to Employee on the date of termination under the provisions of any of the Company’s benefits planSection 7 (B) or 7(F) hereof, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under the APORRI Plan prior to the effective date of such termination; and Upon the effective date of such termination, any rights of the Employee to future compensation under the Bonus Plan, including without limitation, any liquidation bonus, shall immediately terminate and the Employee shall not be entitled to receive, at such time as it would otherwise be payable, any distribution under Incentive Cash Bonus which would have been payable, based upon the Bonus PlanCompany's performance over the full fiscal year, prorated for that portion of the fiscal year during which the Employee was employed by the Company. b. IfC. In the event of Employee's termination pursuant to Section 7 (F), prior the Company agrees to continue to pay Employee his full Salary during such period of disability, said payments to continue for a maximum of six (6) months. Thereafter, Employee shall be paid such disability benefits as may be paid pursuant to the end of the Term, Employee’s employment is terminated disability insurance theretofore agreed on by Employee and the Company pursuant to Section 7(b)4(F) of this Agreement. D. In the event of Employee's termination of employment prior to the expiration of the Term, 7(c)for any reason other than those reasons set forth in Section 7 of this Agreement, 7(d), or 7(e), the Company shall [i] pay Employee shall be entitled only to: i. Any Salary or portion thereof, earned but not yet paid through in equal monthly installments for a period of twelve (12) months from the date of termination; , an amount, in the aggregate, equal to Employee's Salary, [ii. Reimbursement in accordance with this Agreement ] pay Employee at such time as it otherwise would have been payable, the Incentive Cash Bonus, if any, which would have been payable, based upon the Company's performance over the full fiscal year, prorated for that portion of any business expense reasonably incurred the fiscal year during which Employee was employed by the Company, and [iii] upon receipt of written notice from Employee through within twenty (20) days of such termination of employment, purchase at a closing within ninety (90) days from the date of termination termination, (a) all of Employee's vested but not yet paid; iii. Any vested benefits that unexercised options to purchase stock of the Company for an amount equal to the fair market value of the shares subject to the options less the exercise price therefor, and (b) the shares of stock of the Company purchased by Employee pursuant his exercise of said options for an amount equal to the fair market value thereof, as the case may be due (in the case of both (a) and (b), fair market value shall be determined by agreement between the Company and Employee, or, if the Company and Employee are unable to Employee agree on the date fair market value within thirty (30) days after termination, then each of termination under the provisions Company and Employee shall promptly select an appraiser, and such appraisers shall together promptly select a third appraiser, and the third appraiser will, within thirty (30) days of his appointment, determine the fair market value of the shares, and Employee and the Company shall each bear fifty percent (50%) of the cost and expense of this appraisal process, including the fees of any appraisers appointed in accordance herewith), and if in the case of (a) the Company’s benefits plan, program or policy; iv. Any overriding royalty interests conveyed to Employee or otherwise due Employee under fair market value does not exceed the APORRI Plan prior to the effective date exercise price of such termination; and v. Participation options, then such options shall be repurchased by the Company for one hundred dollars ($100) in the Bonus Plan as provided for therein based on the occurrence of death or disabilityaggregate.