Termination or Failure to Extend by Company Not for Cause Prior to a Change of Control. In the event the Executive’s employment hereunder is terminated by action of the Company without cause prior to, but not coincident with, a Change of Control, or this Agreement is not extended by the Company without cause prior to, but not coincident with, a Change in Control, the Executive shall be entitled to receive payments under this Agreement as though the Agreement was in effect through the end of the period set forth in Paragraph 2 hereof, including any automatic extensions in effect as of the date of such termination. Any such payments due shall be paid on a monthly basis, subject to withholding and FICA and other applicable adjustments, in accordance with the normal payroll practices of the Company. Executive acknowledges that such payments serve as total satisfaction of Executive’s claims under this Agreement.
Appears in 20 contracts
Samples: Executive Employment Agreement (Provectus Biopharmaceuticals, Inc.), Executive Employment Agreement (Provectus Biopharmaceuticals, Inc.), Executive Employment Agreement (Provectus Biopharmaceuticals, Inc.)
