Common use of Termination Upon Expiration Clause in Contracts

Termination Upon Expiration. If the Executive shall cease being an employee of the Company on account of a Termination Upon Expiration, the Executive shall have no further rights against the Company hereunder after the Termination Date, except for the right to receive (i) any Base Salary and bonus compensation earned but unpaid as of the Termination Date, and (ii) reimbursement of business expenses to which the Executive is entitled as of the Termination Date under Section 5. In addition, the Executive shall be entitled to any vested benefits under the Restricted Stock Award Agreement as of the Termination Date in accordance with the terms of such plan. In the event of any Termination Upon Expiration, the Executive shall continue to be subject to the Confidentiality Agreement. In the event of a Termination Upon Expiration caused by the Company (i.e., the Company gave notice to the Executive of the Company’s election to not extend the Term pursuant to Section 3(a)), then (a) for purposes of any Award Agreement granted to the Executive, the Termination Upon Expiration shall constitute an involuntary termination of the Executive’s employment by the Company, and not a voluntary termination by the Executive, and (b) the Executive shall not be subject to the Non-Compete Agreement following the Termination Date. In the event of a Termination Upon Expiration caused by the Executive (i.e., the Executive gave notice to the Company of the Executive’s election to not extend the Term pursuant to Section 3(a)), then (x) for purposes of any Award Agreement granted to the Executive, the Termination Upon Expiration shall constitute a voluntary termination of employment by the Executive, and (y) the Executive shall continue to be subject to the Non-Compete Agreement following the Termination Date.

Termination Upon Expiration. If the Executive shall cease being an employee of the Company on account of a Termination Upon Expiration, the Executive shall have no further rights against the Company hereunder after the Termination Date, except for the right to receive (i) any Base Salary and bonus compensation earned but unpaid as of the Termination Date, and (ii) reimbursement of business expenses to which the Executive is entitled as of the Termination Date under Section 5‎5. In addition, the Executive shall be entitled to any vested benefits under the Restricted Stock Award Agreement as of the Termination Date in accordance with the terms of such plan. In the event of any Termination Upon Expiration, the Executive shall continue to be subject to the Confidentiality Agreement. In the event of a Termination Upon Expiration caused by the Company (i.e., the Company gave notice to the Executive of the Company’s election to not extend the Term pursuant to Section 3(a‎3(a)), then (a) for purposes of any Award Agreement granted to the Executive, the Termination Upon Expiration shall constitute an involuntary termination of the Executive’s employment by the Company, and not a voluntary termination by the Executive, and (b) the Executive shall not be subject to the Non-Compete Agreement following the Termination Date. In the event of a Termination Upon Expiration caused by the Executive (i.e., the Executive gave notice to the Company of the Executive’s election to not extend the Term pursuant to Section 3(a‎3(a)), then (x) for purposes of any Award Agreement granted to the Executive, the Termination Upon Expiration shall constitute a voluntary termination of employment by the Executive, and (y) the Executive shall continue to be subject to the Non-Compete Agreement following the Termination Date.