Common use of Termination by Non-Renewal Clause in Contracts

Termination by Non-Renewal. In the event the company fails to renew Executive’s employment before the expiration of this Agreement (“Non-Renewal”), Executive shall be entitled to receive only: a. The unpaid Base Salary and vacation earned by Executive pursuant to Sections 3 and 4 for services rendered through the date of termination, payable in accordance with the Company’s normal payroll practices for terminated salaried employees; b. Full payment of the Performance Bonus tied to a potential Change of Control of the Company (Paragraph 3.B.b.) if such sale occurs during the Term or within six months following the Term. c. Pro-rated payment of the Earnings Bonus as set forth in Section 3.B.a., which amount will be paid 15-days following the Company’s filing of its Form 10-K.

Termination by Non-Renewal. In the event the company fails to renew Executive’s employment before the expiration of this Agreement (“Non-Renewal”), Executive shall be entitled to receive only: a. The unpaid Base Salary and vacation earned by Executive pursuant to Sections 3 and 4 for services rendered through the date of termination, payable in accordance with the Company’s normal payroll practices for terminated salaried employees; b. Full payment of the Performance Bonus tied to a potential Change of Control of the Company (Paragraph 3.B.b3.B.c.) if such sale occurs during the Term or within six months following the Term. c. Pro-rated payment of the Earnings Bonus as set forth in Section 3.B.a., which amount will be paid 15-days following the Company’s filing of its Form 10-K.K or Form 10-Q.

Termination by Non-Renewal. In the event the company fails to renew Executive’s employment before the expiration of this Agreement (“Non-Renewal”), Executive shall be entitled to receive only: a. The unpaid Base Salary and vacation earned by Executive pursuant to Sections 3 and 4 for services rendered through the date of termination, payable in accordance with the Company’s normal payroll practices for terminated salaried employees; b. Full payment of the Performance Bonus tied to a potential Change of Control of the Company (Paragraph 3.B.b.) if such sale occurs during the Term or within six months following the Term. c. Pro-rated payment of the Earnings Bonus as set forth in Section 3.B.a., which amount will be paid 15-days following the Company’s filing of its Form 10-K.K or Form 10-Q.