Common use of Rights on Change in Control Clause in Contracts

Rights on Change in Control. If within one year after, or 90 days ------------------------------- prior to, a Change in Control of the Company, as defined below but not including any reverse transaction where the shareholders are the majority, the Company shall terminate the Employee's employment other than by reason of the Employee's death or disability or for Cause, the Company shall pay or provide to the Employee as compensation for services rendered, not later than the fifth business day after the Date of Termination: (i) The Employee's base salary through the Date of Termination, and any regular benefits and incentive compensation earned as of the Date of Termination in accordance with any arrangements then existing with the Employee; and (ii) A lump sum severance payment equal to two times Employee's annual current compensation. (iii) All unvested stock options previously granted to Employee shall be deemed vested. (iv) For purposes of this Agreement, a Change in Control shall be deemed to have occurred in the event that an entity or a related group of shareholders or creditors that, prior to the occurrence of such event, is not a majority shareholder of the Company, becomes owner of 50% or more of the Company's issued and outstanding shares through investment, merger, acquisition, foreclosure or otherwise.

Rights on Change in Control. If within one year after, or 90 days ------------------------------- -------------------------------- prior to, a Change in Control of the Company, as defined below but not including any reverse transaction where the shareholders are the majority, the Company shall terminate the Employee's employment other than by reason of the Employee's death or disability or for Cause, the Company shall pay or provide to the Employee as compensation for services rendered, not later than the fifth business day after the Date of Termination: (i) The Employee's base salary through the Date of Termination, and any regular benefits and incentive compensation earned as of the Date of Termination in accordance with any arrangements then existing with the Employee; and (ii) A lump sum severance payment equal to two times Employee's annual current compensation. (iii) All unvested stock options previously granted to Employee shall be deemed vested. (iv) For purposes of this Agreement, a Change in Control shall be deemed to have occurred in the event that an entity or a related group of shareholders or creditors that, prior to the occurrence of such event, is not a majority shareholder of the Company, becomes owner of 50% or more of the Company's issued and outstanding shares through investment, merger, acquisition, foreclosure or otherwise.

Rights on Change in Control. If within one year after, or 90 days ------------------------------- ------------------------------ prior to, a Change in Control of the Company, as defined below but not including any reverse transaction where the shareholders are the majority, the Company shall terminate the Employee's employment other than by reason of the Employee's death or disability or for Cause, the Company shall pay or provide to the Employee as compensation for services rendered, not later than the fifth business day after the Date of Termination: (i) The Employee's base salary through the Date of Termination, and any regular benefits and incentive compensation earned as of the Date of Termination in accordance with any arrangements then existing with the Employee; and (ii) A lump sum severance payment equal to two times Employee's annual current compensation. (iii) All unvested stock options previously granted to Employee shall be deemed vested. (iv) For purposes of this Agreement, a Change in Control shall be deemed to have occurred in the event that an entity or a related group of shareholders or creditors that, prior to the occurrence of such event, is not a majority shareholder of the Company, becomes owner of 50% or more of the Company's issued and outstanding shares through investment, merger, acquisition, foreclosure or otherwise.

Rights on Change in Control. If within one year after, or 90 days ------------------------------- prior to, a Change in Control of the Company, as defined below but not including any reverse transaction where the shareholders are the majority, the Company shall terminate the Employee's employment other than by reason of the Employee's death or disability or for Cause, the Company shall pay or provide to the Employee as compensation for services rendered, not later than the fifth business day after the Date of Termination: (i) The Employee's base salary through the Date of Termination, and any regular benefits and incentive compensation earned as of the Date of Termination in accordance with any arrangements then existing with the Employee; and (ii) A lump sum severance payment equal to two times Employee's annual current compensation. (iii) All unvested stock options previously granted to Employee shall be deemed vested. (iv) For purposes of this Agreement, a Change in Control shall be deemed to have occurred in the event that an entity or a related group of shareholders or creditors that, prior to the occurrence of such event, is not a majority shareholder of the Company, becomes owner of 50% or more of the Company's issued and outstanding shares through investment, merger, acquisition, foreclosure or otherwise.