Salary Continuation Period. If Executive’s Termination Date is within twelve months after a “Change in Control,” the Salary Continuation Period shall be eighteen months. If Executive’s Termination Date is not within twelve months after a Change in Control, the Salary Continuation Period shall be nine months. For purposes of this Agreement, a “Change in Control” shall be deemed to have taken place if (i) any “person” becomes the “beneficial owner” (as such terms are defined in the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations promulgated thereunder) of shares of Employer having 50% or more of the total number of votes that may be cast for the election of Employer’s directors; or (ii) there occurs a cash or tender offer for Employer shares, merger, or other business combination, or sale of assets or any combination of the foregoing transactions, and as a result of or in connection with any such event persons who were directors of Employer before the event shall cease to constitute a majority of the Board or of the board of directors of any successor to Employer.
Salary Continuation Period. “Salary Continuation Period” has the meaning assigned in Section 4 of this Agreement.
Salary Continuation Period. The “Salary Continuation Period” shall mean three (3) years from the date of a Termination of the Executive.
Salary Continuation Period. The “Salary Continuation Period” shall mean one (1) year from the date of a Termination of the Executive.
Salary Continuation Period. Paragraphs 5 and 6 of the Letter Agreement shall be amended and replaced in their entirety as follows:
Salary Continuation Period. Section 3.1 (i) is restated in its entirety to read as follows:
(i) the date that is 24 months subsequent to the Effective Date,".
Salary Continuation Period. The following shall be inserted at the end of the last sentence of Paragraph 5 of the Letter Agreement: "within sixty (60) days following the Date of Termination. Except as otherwise provided by Paragraph 3 of the Second Amendment of Employment Agreement entered into between the Company and Executive, the payments provided by this Paragraph 5 shall commence within sixty (60) days of the Date of Termination."
Salary Continuation Period. Provided that you remain an employee in good standing through the date of termination of your employment, you will receive (i) your current base salary for a period of four weeks beyond the date of termination of your employment, and (ii) thereafter, if you sign and return a copy of this letter agreement to the Company on or before January 19, 2005, your current base salary through December 31, 2005; provided, however, that if you commence employment with a new employer during the salary continuation period in this clause (ii), then the income generated by such employment or shall be deducted from the salary continuation payments during such salary continuation period. The payments pursuant to clause (ii) above shall become effective only upon the expiration of the seven-day period immediately following your indication of acceptance of the terms of this letter agreement as specified below. All payments will continue to be paid on the normal payroll cycle (less required withholdings and deductions for taxes). You agree that you will promptly notify the Company if you commence new employment at any time prior to December 31, 2005. You agree that the payments described in this letter agreement are above and beyond and in full satisfaction of any payments or compensation otherwise owed to you under the terms of your employment with Lightbridge or as required by law.
Salary Continuation Period. SALARY CONTINUATION PERIOD" has the meaning assigned in Section 3 of this Agreement.
Salary Continuation Period. In addition to providing you Final Compensation, in the event that the Company elects to terminate your employment prior to the expiration of the Term other than for Cause and other than as a result of death or disability, the Company will continue to pay you your salary during the period from the day immediately following the date your employment terminates through March 1, 2005 (the “Salary Continuation Period”).
