Common use of Termination with Notice by Either Party Clause in Contracts

Termination with Notice by Either Party. The Company or Employee may terminate this Agreement for any reason or no reason upon thirty (30) days prior written notice to the other. In case of termination by the Company, with the exception of Good Cause (as herein defined), the Company shall pay Employee severance compensation, in a lump sum payable on the date of termination, calculated at the rate of Salary in effect as of the date immediately preceding the date of termination and the cost of premiums for any Company sponsored insurance policy (or the cash equivalent) for the longer of (i) thirty-six months (36) months or (ii) the period from the date of termination through the Expiration Date.

Termination with Notice by Either Party. The Company or Employee may terminate this Agreement for any reason or no reason upon thirty (30) days prior written notice to the other. In case of termination by the Company, with the exception of Good Cause (as herein defined), the Company shall pay Employee severance compensation, in a lump sum payable on the date of termination, calculated at the rate of Salary in effect as of the date immediately preceding the date of termination and the cost of premiums for any Company sponsored insurance policy (or the cash equivalent) for the longer of (i) thirty-six months twelve (3612) months if termination occurs during the twelve month period beginning October 16, 2010 and ending on October 15, 2011, or (ii) six (6) months if termination occurs during the twelve month period from the date of termination through the Expiration Datebeginning on October 16, 2011 and ending on October 15, 2012.

Termination with Notice by Either Party. The Company or Employee may terminate this Agreement for any reason or no reason upon thirty (30) days prior written notice to the other. In case of termination by the Company, with the exception of Good Cause (as herein defined), the Company shall pay Employee severance compensation, in a lump sum payable on the date of termination, calculated at the rate of Salary in effect as of the date immediately preceding the date of termination and the cost of premiums for any Company sponsored insurance policy (or the cash equivalent) for the longer of (i) thirty-thirty six months (36) months or (ii) the period from the date of termination through the Expiration Date.

Termination with Notice by Either Party. The Company or Employee may terminate this Agreement for any reason or no reason upon thirty (30) days prior written notice to the other. In case of termination by the Company, with the exception of Good Cause (as herein defined), the Company shall pay Employee severance compensation, in a lump sum payable on the date of termination, calculated at the rate of Salary in effect as of the date immediately preceding the date of termination and the cost of premiums for any Company sponsored insurance policy (or the cash equivalent) for the longer of (i) thirty-six months twelve (3612) months or (ii) the period from the date of termination through the Expiration Date.