Common use of Termination Within One Year After a Change in Control Clause in Contracts

Termination Within One Year After a Change in Control. If the Employee's employment is terminated by the Company without Cause or the Employee terminates his employment for Good Reason, in each case within one (1) year following a Change in Control and during the Term, in addition to the payments, benefits and entitlements provided pursuant to Section 5.A hereof, the Employee shall also be entitled to an additional lump-sum amount equal to the sum of (x) the Employee's Base Salary and (y) the greater of (1) Target Bonus or (2) the bonus earned by the Employee for the year preceding the year in which termination of employment occurs, payable as soon as practicable following the termination of employment.

Appears in 4 contracts

Samples: Employment Agreement (Idenix Pharmaceuticals Inc), Employment Agreement (Idenix Pharmaceuticals Inc), Employment Agreement (Idenix Pharmaceuticals Inc)

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Termination Within One Year After a Change in Control. If the Employee's employment is terminated by the Company without Cause or the Employee terminates his employment for Good Reason, in each case within one (1) year following a Change in Control and during the Term, then, in addition to the payments, benefits and entitlements provided pursuant to Section 5.A hereof, the Employee shall also be entitled to an additional lump-sum amount equal to the sum of (x) the Employee's Base Salary and (y) the greater of (1) Target Bonus or (2) the bonus earned by the Employee for the year preceding the year in which termination of employment occurs, payable as soon as practicable but in no event more than forty-five (45) days following the termination of employment.

Appears in 1 contract

Samples: Employment Agreement (Idenix Pharmaceuticals Inc)

Termination Within One Year After a Change in Control. If the Employee's employment is terminated by the Company without Cause or the Employee terminates his her employment for Good Reason, in each case within one (1) year following a Change in Control and during the Term, in addition to the payments, benefits and entitlements provided pursuant to Section 5.A hereof, the Employee shall also be entitled to an additional lump-sum amount equal to the sum of (x) the Employee's Base Salary and (y) the greater of (1) Target Bonus or (2) the bonus earned by the Employee for the year preceding the year in which termination of employment occurs, payable as soon as practicable following the termination of employment.

Appears in 1 contract

Samples: Employment Agreement (Idenix Pharmaceuticals Inc)

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Termination Within One Year After a Change in Control. If the Employee's employment is terminated by the Company without Cause or the Employee terminates his employment for Good Reason, in each case within one (1) year following a Change in Control and during the Term, in addition to the payments, benefits and entitlements provided pursuant to Section 5.A hereof, the Employee shall also be entitled to an additional lump-sum amount equal to the sum of (x) the Employee's Base Salary and (y) the greater of (1) Target Bonus or (2) the bonus earned by the Employee for the year preceding the year in which termination of employment occurs, payable as soon as practicable following the termination of employmentemployment and the expiration of the revocation period in the Employee Release.

Appears in 1 contract

Samples: Employment Agreement (Idenix Pharmaceuticals Inc)

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