Termination due to Employer Non-Renewal. (a) Upon an Employer Non-Renewal, Employee shall be entitled to receive (i) accrued and unpaid Base Salary through the date of termination and Annual Bonus earned for any year prior to the year of termination, but not yet paid as of the date of termination of employment, which shall be paid in a lump sum within thirty (30) days after the date of Employee’s termination of employment (or as otherwise required by applicable law) or, in respect of the Annual Bonus, on the scheduled payment date in accordance with Subsection 3.2, (ii) an amount equal to the Annual Bonus (based on the Annual Bonus earned in respect of the calendar year prior to the calendar year in which such termination of employment occurs) for each calendar year during the period commencing with the calendar year in which the date of termination occurs (including the portion of such calendar year preceding the date of termination, to the extent not already earned and paid) and ending on the end of the twenty-four (24) month period immediately following Employee’s termination of employment (the “Post-Term Bonus Severance” and such period, the “Post-Term Continuation Period”) (prorated for any partial year at the end of the Post-Term Continuation Period), payable on the scheduled payment date for the applicable Annual Bonus in accordance with Subsection 3.2 as if Employee had remained employed through the payment date of such Annual Bonus, (iii) continued payment of the Base Salary in effect as of the end of the Term as if Employee had remained employed through the Post-Term Continuation Period (the “Post-Term Salary Severance”, and together with the Post-Term Bonus Severance, the “Post-Term Continuation Payments”), and (iv) the Equity Award Acceleration in the event the Employer terminates Employee’s employment without Cause in connection with an Employer Non-Renewal. For the avoidance of doubt, the Equity Award Acceleration will not occur in the event Employee terminates his employment for any reason in connection with an Employer Non-Renewal.
Termination due to Employer Non-Renewal. (a) Upon an Employer Non-Renewal (as defined below), Employee shall be entitled to receive (i) accrued and unpaid Base Salary or Annual Bonus earned for any year prior to the year of termination, but not yet paid as of the date of termination of employment, which shall be paid in a lump sum within thirty (30) days after the date of Employee’s termination of employment (or as otherwise required by applicable law) or, in respect of the Annual Bonus, on the scheduled payment date in accordance with Subsection 3.2, and (ii) continued payment of the Base Salary in effect as of the date of Employee’s termination of employment as if Employee had remained employed through the end of the six (6) month period immediately following Employee’s termination of employment (the “Post-Term Continuation Payments” and such period, the “Post-Term Continuation Period”).
Termination due to Employer Non-Renewal. (a) Upon an Employer Non-Renewal (as defined below), Employee shall be entitled to receive (i) accrued and unpaid Base Salary or Annual Bonus earned for any year prior to the year of termination, but not yet paid as of the date of termination of employment, which shall be paid in a lump sum within thirty (30) days after the date of Employee’s termination of employment (or as otherwise required by applicable law) or, in respect of the Annual Bonus, on the scheduled payment date in accordance with Subsection 3.2, (ii) payment equal to an amount equal to $750,000 (the “Post-Term Bonus Continuation”), payable on the scheduled payment date for the Annual Bonus for the year of termination in accordance with Subsection 3.2 as if Employee had remained employed through the payment date of such Annual Bonus, and (iii) continued payment of the Base Salary in effect as of the date of Employee’s termination of employment as if Employee had remained employed through the end of the twelve (12) month period immediately following Employee’s termination of employment (the “Post-Term Continuation Payments” and such period, the “Post-Term Continuation Period”).
Termination due to Employer Non-Renewal. (a) Upon an Employer Non-Renewal, Employee shall be entitled to receive (i) accrued and unpaid Base Salary through the date of termination of employment, (ii) any unpaid Annual Bonus for the year prior to the year in which termination occurs, (iii) reimbursement, within thirty (30) days following submission by Employee to Employer of appropriate supporting documentation, for any unreimbursed business expenses properly incurred by Employee in accordance with Employer’s policy prior to the date of Employee’s termination of employment; provided claims for such reimbursement (accompanied by appropriate supporting documentation) are submitted to Employer within ninety (90) days following the date of Employee’s termination of employment, (iv) all amounts and benefits then or thereafter due to Employee under the applicable terms of any applicable plan, program, award, agreement or arrangement (including any equity or equity-based plan, program, award, agreement or arrangement) of any member of the Employer Group in accordance with the terms and conditions of any such plan, program, award, agreement or arrangement, (v) payment of an amount equal to one times Base Salary, payable by Employer as if Employee had remained employed through the twelve-month anniversary of the date of termination (the “Employer Non-Renewal Post-Term Continuation Payments” and such period, the “Employer Non-Renewal Post-Term Continuation Period”), and (vi) the Equity Award Acceleration.
