Common use of Termination by Inspire Without Cause Clause in Contracts

Termination by Inspire Without Cause. If Company terminates Executive’s employment without Cause, regardless of the date of termination, Executive shall be paid the same payments and benefits as set forth in Subparagraph 6a. above. In addition, if Executive signs (and does not rescind, as allowed by law) a release of claims, to the full extent permitted by law, in a form reasonably satisfactory to Inspire, which assures, among other things, that Executive will not commence any type of litigation or assert other claims as a result of the termination (except to enforce his rights under this Agreement), Inspire shall pay Executive a post-termination payment, as set forth below: (1) If the effective date of termination of employment is during the first or second full year of Executive’s employment, an amount equal to two (2) months of Executive’s Base Salary as of the date of termination, and Inspire shall be responsible for the payment of premiums for any COBRA benefits which Executive elects to receive during such two (2) month period. (2) If the effective date of termination of employment occurs after the second full year of Executive’s employment, an amount equal to two (2) months of Executive’s Base Salary as of the date of termination plus one (1) additional month of Executive’s Base Salary for every full year employed greater than two (2) years. Inspire shall be responsible for the payment of premiums for any COBRA benefits which Executive elects to receive during such period. The applicable post-termination payments shall be made in a lump sum within two (2) weeks after Executive signs (and does not rescind, as allowed by law) the above referenced release of claims (but in no event prior to the expiration of any applicable rescission period), subject to appropriate withholding and deductions. No incentive awards, retirement savings contributions, or 401(k) contributions will be paid to Executive by Inspire based on the amount of the post-termination payment.

Termination by Inspire Without Cause. If Company terminates Executive’s employment without Cause, regardless of the date of termination, Executive shall be paid the same payments and benefits as set forth in Subparagraph 6a. above. In addition, if Executive signs (and does not rescind, as allowed by law) a release of claims, to the full extent permitted by law, in a form reasonably satisfactory to Inspire, which assures, among other things, that Executive will not commence any type of litigation or assert other claims as a result of the termination (except to enforce his rights under this Agreement), Inspire shall pay Executive a post-termination payment, as set forth below: (1) If the effective date of termination of employment is during the first or second full year of Executive’s employment, an amount equal to two six (26) months of Executive’s Base Salary as of the date of termination, and Inspire shall be responsible for the payment of premiums for any COBRA benefits which Executive elects to receive during such two (2) month period. (2) If the effective date of termination of employment occurs after the second full year of Executive’s employment, an amount equal to two six (26) months of Executive’s Base Salary as of the date of termination plus one (1I) additional month of Executive’s Base Salary for every full year employed greater than then two (2) years. Inspire shall be responsible for the payment of premiums for any COBRA benefits which Executive elects to receive during such period. The applicable post-termination term in at ion payments shall be made in a lump sum within two (2) weeks after Executive signs (and does not rescind, as allowed by law) the above referenced release of claims (but in no event prior to the expiration of any applicable rescission period), subject to appropriate withholding and deductions. No incentive awards, retirement savings contributions, or 401(k) contributions will be paid to Executive by Inspire based on the amount of the post-termination payment.

Termination by Inspire Without Cause. If Company terminates Executive’s employment without Cause, regardless of the date of termination, Executive shall be paid the same payments and benefits as set forth in Subparagraph 6a. above. In addition, if Executive signs (and does not rescind, as allowed by law) a release of claims, to the full extent permitted by law, in a form reasonably satisfactory to Inspire, which assures, among other things, that Executive will not commence any type of litigation or assert other claims as a result of the termination (except to enforce his rights under this Agreement), Inspire shall pay Executive a post-termination payment, as set forth below: (1) If the effective date of termination of employment is during the first or second full year of Executive’s employment, an amount equal to two (2) months of Executive’s Base Salary as of the date of termination, and Inspire shall be responsible for the payment of premiums for any COBRA benefits which Executive elects to receive during such two (2) month period. (2) If the effective date of termination of employment occurs after the second full year of Executive’s employment, an amount equal to two (2) months of Executive’s Base Salary as of the date of termination plus one (1) additional month of Executive’s Base Salary for every full year employed greater than then two (2) years. Inspire shall be responsible for the payment of premiums for any COBRA benefits which Executive elects to receive during such period. The applicable post-termination payments shall be made in a lump sum within two (2) weeks after Executive signs (and does not rescind, as allowed by law) the above referenced release of claims (but in no event prior to the expiration of any applicable rescission period), subject to appropriate withholding and deductions. No incentive awards, retirement savings contributions, or 401(k) contributions will be paid to Executive by Inspire based on the amount of the post-termination payment.