Termination Events Resulting in Severance Payments. In the event of the termination of the Executive's employment prior to the expiration of the term of this Agreement:
(i) by the Company without "Cause," or
(ii) under Section 3.3 , then the Company shall pay Executive, as a severance payment, an amount equal to Executive's annual base salary, such payment to be made in twelve (12) equal monthly payments during the period commencing on the date such termination occurs (the "Termination Date") and ending one (1) year thereafter (the "Severance Period").
Termination Events Resulting in Severance Payments. In the event of the termination of the Employee’s employment by GTC without cause, then GTC shall make severance payments to the Employee in the amount set forth in, and payable in accordance with, Section 1.2. No severance shall be payable in the event that the Employee’s employment is terminated (a) by the Employee, (b) by GTC in the event of the Employee’s death or inability, by reason of physical or mental impairment, to perform substantially all of the Employee’s duties for a continuous period of 120 days, or (c) by GTC in the event of the Employee’s breach of any material duty or obligation to GTC, or intentional or grossly negligent conduct that is materially injurious to GTC (as reasonably determined by GTC’s Board of Directors) or willful failure to follow the reasonable directions of GTC’s CEO.
Termination Events Resulting in Severance Payments. In the event of the Termination Without Cause by LXR under Section 4.1(b) then LXR shall make severance payment(s) to Executive equal to twelve (12) months of the Executive's base salary as of the date of such termination (the "Base Salary Payment"). Such severance amount shall be payable in installments in accordance with LXR's payroll practice.
Termination Events Resulting in Severance Payments. In the event of the termination of the Executive's employment:
(i) by the Company without "Cause," or (ii) under Section 3.3, then the Company shall pay Executive, as a severance payment, an amount equal to Executive's annual base salary, such payment to be made in twelve (12) equal monthly payments during the period commencing on the date such termination occurs (the "Termination Date") and ending one (1) year thereafter (the "Severance Period"), together with an amount equal to Executive's average bonus over the preceding 3 years, such payment to be made in twelve (12) equal monthly payments commending on the date such termination occurs and ending one (1) year thereafter.
Termination Events Resulting in Severance Payments. In the event of the termination of the Employee's employment by GTC without cause, then GTC shall make severance payments to the Employee in the amount set forth in, and payable in accordance with, Section
Termination Events Resulting in Severance Payments. In the event of the termination of the Executive's employment:
(i) by HVDC under Section 4.1(b), or
(ii) by Executive under Section 4.1(d), then HVDC shall make severance payment(s) to Executive in a lump sum equal to (A) Executive's cash compensation from HVDC for the twelve month period preceding the termination date, consisting of the base salary paid during such period, plus (B) the amount of cash bonus paid during such period (the "Base Salary Payment"). No severance shall be payable in the event that Executive's employment is terminated by HVDC pursuant to Section 4.1(a) or (c), or by Executive pursuant to Section 4.1(b). Upon termination of Executive's employment for any reason, Executive shall have no obligation of mitigation.
Termination Events Resulting in Severance Payments. In the event of the termination of the Executive's employment:
(i) by GTC under Section 4.1(b), or
(ii) by Executive under Section 4.1(d), then GTC shall make severance payment(s) to Executive equal to (A) twenty-four (24) months of the Executive's base salary (the "Base Salary Payment") at the time of such termination and (B) an amount equal to the Executive's maximum incentive bonus that would next be payable to him and would otherwise be due to Executive if such termination had not occurred and the maximum amount of such bonus had been fully earned, pro rated on the basis of the number of days that have elapsed between the beginning of the bonus period in which such termination occurs and the termination date, together payable in a lump sum within ten (10) days after the termination date. No severance shall be payable in the event that Executive's employment is terminated pursuant to Section 4.1(a) or (c), or by Executive pursuant to Section 4.1(b).
Termination Events Resulting in Severance Payments. In the event of the termination of the Executive's employment:
(i) by Procept under Section 4.1(b), or
(ii) by Executive under Section 4.1(d), then Procept shall make severance payment(s) to Executive equal to (A) twelve (12) months of the Executive's base salary (the "Base Salary Payment") at the time of such termination [and (B) an amount equal to the Executive's incentive bonus that would next be payable to him and would otherwise be due to Executive if such termination had not occurred and the amount of such bonus had been fully earned, pro rated on the basis of the number of days that have elapsed between the beginning of the bonus period in which such termination occurs and the termination date, together payable in a lump sum within ten (10) days after the termination date.] The payment specified in the foregoing sentence shall be reduced to the extent that the Executive actually receives income from a subsequent employer during the 12 month period after his termination, and any such income actually received by the Executive shall be reported to Procept. No severance shall be payable in the event that Executive's employment is terminated pursuant to Section 4.1(a) or (c), or by Executive pursuant to Section 4.1(b).
Termination Events Resulting in Severance Payments. In the event of the termination of the Executive's employment by HVDC under Section 4.1(b) or by Executive under 4.1(d), then HVDC shall make severance payments to Executive equal to (A) one-half of the Executive's annual base salary pursuant to Section 2.1(i), plus (B) one-half of the annual amount of cash bonus most recently awarded purusant to Section 2.1(ii) (collectively, the "Base Salary Payment"). The Base Salary Payment shall be payable in a lump sum immediately after termination. No severance shall be payable in the event that Executive's employment is terminated by HVDC pursuant to Section 4.1(a) or (c). Upon termination of Executive's employment for any reason, Executive shall have no obligation of mitigation. All options vested under Section 2.3 shall continue to be exercisable until their expiration date, notwithstanding any termination hereunder.
Termination Events Resulting in Severance Payments. In the event of the termination of the Executive's employment:
(i) by GTC under Section 4.1(b), or
(ii) by Executive under Section 4.1(d), then GTC shall make severance payment(s) to Executive equal to (A) twenty-four (24) months of the Executive's base salary (the "Base Salary Payment") at the time of such termination and (B) an amount equal to the Executive's maximum incentive bonus that would next be payable to her and would otherwise be due to Executive if such termination had not occurred and the maximum amount of such bonus had been fully earned, pro rated on the basis of the number of days that have elapsed between the beginning of the bonus period in which such termination occurs and the termination date. Such severance amounts shall be together payable in equal installments over such 24 month period in the event Executive's employment is terminated by GTC under Section 4.1(b) other than in a Change of Control. In the event of a Change of Control if Executive's employment is terminated by GTC in contemplation thereof or within 24 months thereafter pursuant to Section 4.1(b) or if Executive's employment is terminated by Executive under Section 4.1(d), such severance amounts shall be together payable in a lump sum within ten (10) days after the termination date. No severance shall be payable in the event that Executive's employment is terminated pursuant to Section 4.1(a) or (c), or by Executive pursuant to Section 4.1(b).
