Common use of Termination by the Company without Due Cause Clause in Contracts

Termination by the Company without Due Cause. The Company may terminate the Employment Period without Due Cause upon thirty (30) days’ prior written notice. If the Employment Period is terminated pursuant to this Section 11(d), then Executive will be entitled to receive as severance pay his Base Salary at the annual rate then in effect for a period of twelve (12) months following the termination of his employment (the “Severance Period”), payable in accordance with the Company’s payroll policy from time to time in effect. Upon a termination under this Section 11(d), the Company may elect, within thirty (30) days of the termination of the Employment Period, to extend the duration of the Restricted Period for up to an additional twelve (12) month period by so notifying Executive. If the Company elects to extend the Restricted Period, the amount of severance pay shall be increased by one-twelfth (1/12) of his Base Salary, at the annual rate then in effect, for each month by which the Restricted Period is extended. In addition, if the Executive elects COBRA continuation coverage, the Company shall pay for such coverage through the Severance Period at the same rate as it pays for health insurance coverage for its active employees (with the Executive required to pay for any employee paid portion of such coverage). Nothing herein provided, however, shall be construed to extend the period of time over which such COBRA continuation coverage otherwise may be provided to the Executive and/or her dependents. Notwithstanding the above, Executive shall receive such amounts only if Executive is not in material breach of any of the provisions of the Confidentiality, Inventions and Non-Solicitation Agreement and Section 9 of this Employment Agreement and has complied with Section 11(f) of this Employment Agreement.

Termination by the Company without Due Cause. The Company may terminate the Employment Period without Due Cause upon thirty (30) days’ ' prior written notice. If the Employment Period is terminated pursuant to this Section SECTION 11(d), then Executive will be entitled to receive as severance pay his pay, the continuation of her Base Salary at the annual rate then in effect for a period of twelve (12) months following the termination of his her employment (the “Severance Period”"SEVERANCE PERIOD"), payable in accordance with the Company’s 's payroll policy from time to time in effect. Upon a termination under this Section SECTION 11(d), the Company may elect, within thirty (30) days of the termination of the Employment Period, to extend the duration of the Restricted Period for up to an additional twelve (12) month period by so notifying Executive. If the Company elects to extend the Restricted Period, the amount of severance pay shall be increased by one-twelfth (1/12) of his her Base Salary, at the annual rate then in effect, for each month by which the Restricted Period is extended. In addition, if the Executive elects COBRA continuation coverage, the Company shall pay for such coverage through the Severance Period at the same rate as it pays for health insurance coverage for its active employees (with the Executive required to pay for any employee paid portion of such coverage). Nothing herein provided, however, shall be construed to extend the period of time over which such COBRA continuation coverage otherwise may be provided to the Executive and/or her dependents. Notwithstanding the above, Executive shall receive such amounts only if Executive is not in material breach of any of the provisions of the Confidentiality, Inventions and Non-Solicitation Agreement and Section SECTION 9 of this Employment Agreement and has complied with Section SECTION 11(f) of this Employment Agreement.

Termination by the Company without Due Cause. The Company may terminate the Employment Period without Due Cause upon thirty (30) days’ ' prior written notice. If the Employment Period is terminated pursuant to this Section SECTION 11(d), then Executive will be entitled to receive as severance pay the continuation of his Base Salary at the annual rate then in effect for a period of one month for each month in which the Executive was employed by the Company (up to a maximum of twelve (12) months months) following the termination of his employment (the “Severance Period”"SEVERANCE PERIOD"), payable in accordance with the Company’s 's payroll policy from time to time in effect. Upon a termination under this Section SECTION 11(d), the Company may elect, within thirty (30) days of the termination of the Employment Period, to extend the duration of the Restricted Period for up to an additional twelve (12) month period by so notifying Executive. If the Company elects to extend the Restricted Period, the amount of severance pay shall be increased by one-twelfth (1/12) of his Base Salary, at the annual rate then in effect, for each month by which the Restricted Period is extended. In addition, if the Executive elects COBRA continuation coverage, the Company shall pay for such coverage through the Severance Period at the same rate as it pays for health insurance coverage for its active employees (with the Executive required to pay for any employee paid portion of such coverage). Nothing herein provided, however, shall be construed to extend the period of time over which such COBRA continuation coverage otherwise may be provided to the Executive and/or her dependents. Notwithstanding the above, Executive shall receive such amounts only if Executive is not in material breach of any of the provisions of the Confidentiality, Inventions and Non-Solicitation Agreement and Section SECTION 9 of this Employment Agreement and has complied with Section SECTION 11(f) of this Employment Agreement.

Termination by the Company without Due Cause. The Company may terminate the Employment Period without Due Cause upon thirty (30) days’ ' prior written notice. If the Employment Period is terminated pursuant to this Section SECTION 11(d), then Executive will be entitled to receive as severance pay his Base Salary at the annual rate then pay, an amount equal to Five Hundred Thousand Dollars ($500,000) as reduced by applicable withholding tax, payable in effect equal monthly installments for a period of twelve (12) months following the termination of his employment termination (the “Severance Period”"SEVERANCE PERIOD"); provided, payable in accordance with the Company’s payroll policy from time to time in effect. Upon a termination under this Section 11(d)however, the Company may elect, within thirty (30) days of the termination of the Employment Period, to extend the duration of the Restricted Period Non-Competition Covenants for up to an additional twelve (12) month period by so notifying Executive. If the Company elects to extend the Restricted PeriodNon-Competition Covenants, the amount of severance pay shall be increased by one-twelfth (1/12) of his Base Salary, at the annual rate then in effect, $41,666.67 for each month by which the Restricted Period is Non-Competition Covenants are extended. In addition, if the Executive elects COBRA continuation coverage, the Company shall pay for such coverage through the Severance Period at the same rate as it pays for health insurance coverage for its active employees (with the Executive required to pay for any employee paid portion of such coverage). Nothing herein provided, however, shall be construed to extend the period of time over which such COBRA continuation coverage otherwise may be provided to the Executive and/or her his dependents. Notwithstanding the above, Executive shall receive such amounts only if Executive is not in material breach of any of the provisions of the Confidentiality, Inventions and Non-Solicitation Agreement and Section SECTION 9 of this Employment Agreement and has complied with Section SECTION 11(f) of this Employment Agreement.

Termination by the Company without Due Cause. The Company may terminate the Employment Period without Due Cause upon thirty (30) days’ prior providing the Executive with written noticenotice of such termination. If the Employment Period is terminated pursuant to this Section 11(d), then Executive will be entitled to his salary, benefits and the Appreciation Payment accrued through the date of termination and will also be entitled to receive as severance pay the continuation of his Base Salary at the annual rate then in effect for a period of twelve (12) months following the termination of his employment (the “Severance Period”), payable in accordance with the Company’s payroll policy from time to time in effect. Upon a termination under this Section 11(d), the Company may elect, within thirty (30) days of the termination of the Employment Period, to extend the duration of the Restricted Period for up to an additional twelve (12) month period by so notifying Executive. If the Company elects to extend the duration of the Restricted Period, the amount of severance pay shall be increased by one-twelfth (1/12) of his Base Salary, at the annual rate then in effect, for each month by which the Restricted Period is extendedextended (the “Additional Payment”). If the Company does not elect to extend the duration of the Restricted Period, the Executive shall not be entitled to the Additional Payment and he or she shall continue to be bound by the original terms of the Restricted Period. In addition, if the Executive elects COBRA continuation coverage, the Company shall pay for such coverage through the Severance Period at the same rate as it pays for health insurance coverage for its active employees (with the Executive required to pay for any employee employee-paid portion of such coverage). Nothing herein provided, however, shall be construed to extend the period of time over which such COBRA continuation coverage otherwise may be provided to the Executive and/or her his dependents. Notwithstanding the above, Executive shall receive such the amounts set forth in this Section 11(d) only if Executive is not in material breach of any of the provisions of the Confidentiality, Inventions and Non-Solicitation Agreement and Section 9 of this Employment Agreement Agreement, and has complied with Section 11(f) of this Employment Agreement. Notwithstanding anything herein to the contrary, if Executive is a “specified employee” as such term is defined under Section 409A of the Code and the regulations and guidance promulgated thereunder, the payments described under this Section 11(d) shall be delayed by a period of six (6) months following Executive’s termination of employment so as not to subject the payments to any penalties and interest under Section 409A of the Code.