Common use of Severance Pay For Termination After Commencement of the Post Transaction Period Clause in Contracts

Severance Pay For Termination After Commencement of the Post Transaction Period. If at any time after the commencement of the Post Transaction Period your employment is terminated by ULTRADATA except for Cause, Death or Disability as stated in Xxxxxx, Xxxxx November 6, 1998 Sections 3(c) and 3(d) above, or if a Constructive Termination Event as defined above occurs and you voluntarily terminate your employment, then you will receive: (i) Your salary (including any increases approved by the Board) continued at the rate specified in Section 2(a) above for twelve (12) months; (ii) Medical insurance and life insurance at the levels in effect at the time of termination for twelve (12) months; (iii) When otherwise payable, your bonus prorated up to the date of termination for the period during which you were eligible for any such bonus; (iv) In addition to the accelerated vesting of existing stock options as provided in Section 6 below, continued vesting of any stock options granted to you after the commencement of the Post Transaction Period for twelve (12) months, followed by a 90 day period during which such options may be exercised. (v) No further continuance of other benefits such as vacation, sick leave, and employee stock purchase plan participation, unless specified herein. (vi) Any cellular phone and notebook computer as then currently provided by Company. Additionally, placement services will be provided as the Company customarily provides to other Executives leaving the Company.

Severance Pay For Termination After Commencement of the Post Transaction Period. If at any time after the commencement of the Post Transaction Period your employment is terminated by ULTRADATA except for Cause, Death or Disability as stated in XxxxxxXxxxxxxxxx, Xxxxx November 6, 1998 Sections 3(c) and 3(d) above, or if a Constructive Termination Event as defined above occurs and you voluntarily terminate your employment, then you will receive: (i) Your salary (including any increases approved by the Board) continued at the rate specified in Section 2(a) above for twelve (12) months; (ii) Medical insurance and life insurance at the levels in effect at the time of termination for twelve (12) months; (iii) When otherwise payable, your bonus prorated up to the date of termination for the period during which you were eligible for any such bonus; (iv) In addition to the accelerated vesting of existing stock options as provided in Section 6 below, continued vesting of any stock options granted to you after the commencement of the Post Transaction Period for twelve (12) months, followed by a 90 day period during which such options may be exercised. (v) No further continuance of other benefits such as vacation, sick leave, and employee stock purchase plan participation, unless specified herein. (vi) Any cellular phone and notebook computer as then currently provided by Company. Additionally, placement services will be provided as the Company customarily provides to other Executives leaving the Company.

Severance Pay For Termination After Commencement of the Post Transaction Period. If at any time after the commencement of the Post Transaction Period your employment is terminated by ULTRADATA except for Cause, Death or Disability as stated in XxxxxxXxxxxxxxx, Xxxxx Xxxxxx November 6, 1998 Sections 3(c) and 3(d) above, or if a Constructive Termination Event as defined above occurs and you voluntarily terminate your employment, then you will receive: (i) Your salary (including any increases approved by the Board) continued at the rate specified in Section 2(a) above for twelve (12) months; (ii) Medical insurance and life insurance at the levels in effect at the time of termination for twelve (12) months; (iii) When otherwise payable, your bonus prorated up to the date of termination for the period during which you were eligible for any such bonus; (iv) In addition to the accelerated vesting of existing stock options as provided in Section 6 below, continued vesting of any stock options granted to you after the commencement of the Post Transaction Period for twelve (12) months, followed by a 90 day period during which such options may be exercised. (v) No further continuance of other benefits such as vacation, sick leave, and employee stock purchase plan participation, unless specified herein. (vi) Any cellular phone and notebook computer as then currently provided by Company. Additionally, placement services will be provided as the Company customarily provides to other Executives leaving the Company.

Severance Pay For Termination After Commencement of the Post Transaction Period. If at any time after the commencement of the Post Transaction Period your employment is terminated by ULTRADATA except for Cause, Death or Disability as stated in XxxxxxXxxxxxx, Xxxxx November 6, 1998 Sections 3(c) and 3(d) above, or if a Constructive Termination Event as defined above occurs and you voluntarily terminate your employment, then you will receive: (i) Your salary (including any increases approved by the Board) continued at the rate specified in Section 2(a) above for twelve (12) months; (ii) Medical insurance and life insurance at the levels in effect at the time of termination for twelve (12) months; (iii) When otherwise payable, your bonus prorated up to the date of termination for the period during which you were eligible for any such bonus; (iv) In addition to the accelerated vesting of existing stock options as provided in Section 6 below, continued vesting of any stock options granted to you after the commencement of the Post Transaction Period for twelve (12) months, followed by a 90 day period during which such options may be exercised. (v) No further continuance of other benefits such as vacation, sick leave, and employee stock purchase plan participation, unless specified herein. (vi) Any cellular phone and notebook computer as then currently provided by Company. Additionally, placement services will be provided as the Company customarily provides to other Executives leaving the Company.