Termination Payments - After Certain Changes of Control. (a) If ------------------------------------------------------- Executive or the Company (except pursuant to Section 2.03(a) hereof) terminates this Agreement during the Term upon or after the occurrence of a Business Combination not approved by a majority of Disinterested Directors then in office, as those terms are defined in Article Ninth of the Company's Certificate of Incorporation, Executive shall be paid an amount equal to three times Executive's average W-2 wages over the past three years, such payment to be made in a lump sum within sixty (60) days of termination. Executive also shall be entitled to Company paid health insurance continuation and car allowance continuation for three (3) years.
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Samples: Employment Agreement (Respironics Inc), Employment Agreement (Respironics Inc)
Termination Payments - After Certain Changes of Control. (a) If ------------------------------------------------------- Executive or the Company (except pursuant to Section 2.03(a) hereof) terminates this Agreement during the Term upon or after the occurrence of a Business Combination not approved by a majority of Disinterested Directors then in office, as those terms are defined in Article Ninth of the Company's Certificate of Incorporation, Executive shall be paid an amount equal to three times Executive's average W-2 wages over the past three years, such payment to be made in a lump sum within sixty (60) days of termination. Executive also shall be entitled to Company Company-paid health insurance continuation and car allowance continuation for three (3) years.
Appears in 2 contracts
Samples: Agreement (Respironics Inc), Employment Agreement (Respironics Inc)
Termination Payments - After Certain Changes of Control. (a) If ------------------------------------------------------- Executive or the Company (except pursuant to Section 2.03(a) hereof) terminates this Agreement during the Term upon or after the occurrence of a Business Combination not approved by a majority of Disinterested Directors then in office, as those terms are defined in Article Ninth of the Company's Certificate of Incorporation, Executive shall be paid an amount equal to three times Executive's average W-2 wages over the past three years, such payment to be made in a lump sum within sixty (60) days of termination. Executive also shall be entitled to Company Company-paid health insurance continuation and car allowance continuation for three (3) years.
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