Common use of Termination Due to Change of Control Clause in Contracts

Termination Due to Change of Control. If the Employment of Employee under this Agreement is terminated pursuant to Section 3(d) above, (1) in the event that Employer's new management offers Employee a position, Employee will have thirty (30) days from the date the position is offered to decide where to accept or not. If Employee accepts, this Agreement will be terminated and all compensation will be in accordance with the new agreement. If the Employee rejects the offered position, Employee will be entitled to receive within sixty (60) days from the date of change of control, a lump sum equal to the Employee's then current salary for the greater of (i) (24) months or (ii) for the balance of the Employment Period, and further will be entitled to receive the benefits to which Employee would otherwise be entitled pursuant to Section 2(c) above the greater of (i) twelve (12) months or (ii) for the balance of the Employment period from the date of the change of control; (2) in the event that the Employe s new management does not offer Employee a position, Employee will be entitled to receive within sixty (60) days from the date of change of control, a lump sum equal to the Employee's then current salary for the greater of (i) thirty six (36) months or (ii) for the balance of the Employment Period, and further will be entitled to receive the benefits to which Employee would otherwise be entitled pursuant to Section 2(c) above for the greater of (i) twenty-four (24) months or (ii) for the balance of the Employment period from the date of the change of control; and (3) upon a change of control of the Employer, all warrants outstanding will vest and employee will have one hundred and eighty (180) days to exercise said warrants.

Termination Due to Change of Control. If the Employment of Employee under this Agreement is terminated pursuant to Section 3(d) above, (1) in the event that Employer's new management offers Employee a position, Employee will have thirty (30) days from the date the position is offered to decide where whether to accept or not. If Employee accepts, this Agreement will be terminated and all compensation will be in accordance with the new agreement. If the Employee rejects the offered position, Employee will be entitled to receive within sixty (60) days from the date of change of control, a lump sum equal to the Employee's then current salary for the greater a period of twelve (i12) (24) months or (ii) for the balance of the Employment Periodmonths, and further will be entitled to receive the benefits to which Employee would otherwise be entitled pursuant to Section 2(c) above the greater for a period of (i) twelve (12) months or (ii) for the balance of the Employment period from the date of the change of control;months; or (2) in the event that the Employe s Employer's new management does not offer Employee a position, Employee will be entitled to receive within sixty (60) days from the date of change of control, a lump sum equal to the Employee's then current salary for the greater a period of twelve (i12) thirty six (36) months or (ii) for the balance of the Employment Periodmonths, and further will be entitled to receive the benefits to which Employee would otherwise be entitled pursuant to Section 2(c) above for the greater a period of twelve (i) twenty-four (24) months or (ii) for the balance of the Employment period from the date of the change of control12); and (3) upon a change of control of the Employer, all warrants outstanding will vest and employee will have one hundred and eighty (180) days to exercise said warrants.

Termination Due to Change of Control. If the Employment of Employee under this Agreement is terminated pursuant to Section 3(d) above, (1) in the event that Employer's new management offers Employee a position, Employee will have thirty (30) days from the date the position is offered to decide where to accept or not. If Employee accepts, this Agreement will be terminated and all compensation will be in accordance with the new agreement. If the Employee rejects the offered position, Employee will be entitled to receive within sixty (60) days from the date of change of control, a lump sum equal to the Employee's then current salary compensation for the greater of (i) (24) months or (ii) for the balance of the Employment Period, and further will be entitled to receive the benefits to which Employee would otherwise be entitled pursuant to Section 2(c) above the greater of (i) twelve (12) months or (ii) for the balance of the Employment period from the date of the change of control; (2) in the event that the Employe s new management does not offer Employee a position, Employee will be entitled to receive within sixty (60) days from the date of change of control, a lump sum equal to the Employee's then current salary for the greater of (i) thirty six (3612) months or (ii) for the balance of the Employment Period, and further will be entitled to receive the benefits to which Employee would otherwise be entitled pursuant to Section 2(c) above for the greater of (i) twenty-four (24) months or (ii) for the balance of the Employment period from the date of the change of control; and (3) upon a change of control of the Employer, all warrants outstanding will vest and employee will have one hundred and eighty (180) days to exercise said warrants.