Common use of Post-Employment Period Severance Clause in Contracts

Post-Employment Period Severance. If Employee's employment with the Company terminates at any time after December 31, 2002 for any reason other than Employee's death, disability or discharge for cause and an "employment offer" (as defined below) by the Company is not outstanding as of the date of the termination of Employee's employment, then the Company shall continue to pay Employee his full base salary, at a rate equal to the rate in effect immediately prior to December 31, 2002, until December 31, 2004. If Employee's employment with the Company terminates at any time after December 31, 2002 for any reason other than Employee's death, disability or discharge for cause and an "employment offer" by the Company is outstanding as of the date of the termination of Employee's employment, then the Company shall continue to pay Employee his full base salary, at a rate equal to the rate in effect immediately prior to December 31, 2002, until December 31, 2003. An "employment offer" shall be deemed to be outstanding as of the date of the termination of Employee's employment with the Company if, as of such date, there is outstanding a written offer by the Company to enter into an employment agreement with Employee in substantially the form of this Agreement providing for a term of employment ending on or after December 31, 2004 and an annual base salary at least equal to Employee's base salary in effect immediately prior to December 31, 2002. The Company shall notify Employee in writing at least 30 days prior to the expiration of the Employment Period as to whether the Company plans to extend an employment offer to Employee. Employee shall not be entitled to receive any severance payments under this subparagraph 6(f) if Employee and the Company enter into an employment or severance agreement after the date of this Agreement (including any renewal or extension of this Agreement) that includes severance arrangements relating to the termination of Employee's employment with the Company after December 31, 2002. Employee understands and agrees that if he materially breaches any material provision of the Proprietary Information and Inventions Agreement, the Company shall cease to have any obligation to make any severance payments under this subparagraph. Employee further understands and agrees that the payments to be made to Employee pursuant to this Section 6(f) may be applied by the Company to satisfy its payment obligations set forth in Section 5 of the Proprietary Information and Inventions Agreement for the period during which payments are being made to Employee in accordance with this Section 6(f).

Post-Employment Period Severance. If Employee's employment with the Company terminates at any time after December 31, 2002 2004 for any reason other than Employee's death, disability or discharge for cause and an "employment offer" (as defined below) by the Company is not outstanding as of the date of the termination of Employee's employment, then the Company shall continue to pay Employee his full base salary, at a rate equal to the rate in effect immediately prior to December 31, 20022004, until December 31, 20042006. If Employee's employment with the Company terminates at any time after December 31, 2002 2004 for any reason other than Employee's death, disability or discharge for cause and an "employment offer" by the Company is outstanding as of the date of the termination of Employee's employment, then the Company shall continue to pay Employee his full base salary, at a rate equal to the rate in effect immediately prior to December 31, 20022004, until December 31, 20032005. An "employment offer" shall be deemed to be outstanding as of the date of the termination of Employee's employment with the Company if, as of such date, there is outstanding a written offer by the Company to enter into an employment agreement with Employee in substantially the form of this Agreement providing for a term of employment ending on or after December 31, 2004 2006 and an annual base salary at least equal to Employee's base salary in effect immediately prior to December 31, 20022004. The Company shall notify Employee in writing at least 30 days prior to the expiration of the Employment Period as to whether the Company plans to extend an employment offer to Employee. Employee shall not be entitled to receive any severance payments under this subparagraph 6(f6(g) if Employee and the Company enter into an employment or severance agreement after the date of this Agreement (including any renewal or extension of this Agreement) that includes severance arrangements relating to the termination of Employee's employment with the Company after December 31, 2002. Employee understands and agrees that if he materially breaches any material provision of the Proprietary Information and Inventions Agreement, the Company shall cease to have any obligation to make any severance payments under this subparagraph. Employee further understands and agrees that the payments to be made to Employee pursuant to this Section 6(f) may be applied by the Company to satisfy its payment obligations set forth in Section 5 of the Proprietary Information and Inventions Agreement for the period during which payments are being made to Employee in accordance with this Section 6(f)2004.