Common use of Termination Without Cause; For Good Reason Clause in Contracts

Termination Without Cause; For Good Reason. Subject to Section 5(b), in the event the Company terminates the employment of Executive without Cause pursuant to Section 4(d), Executive resigns for Good Reason pursuant to Section 4(e), or the Executive’s employment terminates due to expiration of the Employment Term in accordance with Section 4(g) following the Company’s delivery to Executive of a notice of intent not to renew pursuant to Section 1, then the Company shall pay to the Executive, in addition to any amounts payable under Section 4, (i) severance payments in the form of continued Base Salary, at Executive’s Base Salary as then in effect, for the thirty-six (36) month period following the effective date of the Executive’s termination if such termination happens during the first year of the Executive’s employment, twenty four months (24) if termination happens in the second year of the Executive’s employment, and twelve (12) months if the termination happens in the third year of the Executive’s employment or thereafter; (ii) payment of any accrued and unpaid annual bonus for any year preceding the year in which Executive’s employment terminates; (iii) payment of a pro rata annual bonus for the year in which Executive’s employment terminates calculated by multiplying the target bonus amount by a fraction, the numerator of which is the number of calendar days elapsed in the year as of the effective date of Executive’s termination of employment and the denominator of which is 365; and (iv) payment by the Company of Executive’s monthly health insurance premiums for a period matching the period that Executive is entitled to severance payments pursuant to section 5(a)(i) hereof. The severance in 5(a)(i) and (iv) will be paid pursuant to the Company’s payroll schedule then in effect commencing on the sixtieth (60th) day following the last day of employment and the payments in 5(a)(ii) and (iii) will be paid on the sixtieth (60th) day following the last day of empoyment.

Termination Without Cause; For Good Reason. Subject to Section 5(b), in the event the Company terminates the employment of Executive without Cause pursuant to Section 4(d), Executive resigns for Good Reason pursuant to Section 4(e), or the Executive’s employment terminates due clue to expiration of the Employment Term in accordance with Section 4(g) following the Company’s delivery to Executive of a notice of intent not to renew pursuant to Section 1, then the Company shall pay to the Executive, in addition to any amounts payable under Section 4, (i) severance payments in the form of continued Base Salary, at Executive’s Base Salary as then in effect, for the thirty-six lesser of eighteen (3618) month period following months or the effective date then remaining term (notwithstanding any subsequent Renewal Terms) of the Executive’s termination if such termination happens during the first year of the Executive’s employmentAgreement, twenty four months (24) if termination happens in the second year of the Executive’s employment, and twelve (12) months if the termination happens in the third year of the Executive’s employment or thereafter; (ii) payment of any accrued and unpaid annual bonus for any year preceding the year in which Executive’s 's employment terminates; (iii) payment of a pro rata annual bonus for the year in which Executive’s employment terminates calculated by multiplying the target bonus amount by a fraction, the numerator of which is the number of calendar days elapsed in the year as of the effective date of Executive’s termination of employment and the denominator of which is 365; and (iv) payment by the Company of Executive’s monthly health insurance premiums for a period matching the period that Executive is entitled to severance payments pursuant to section 5(a)(i5(a) hereof. The severance in 5(a)(i) and (iv) will be paid pursuant to the Company’s payroll schedule then in effect commencing on the sixtieth thirtieth (60th30th) day following the last day of employment and the payments in 5(a)(iiS(a)(ii) and (iii) will be paid on the sixtieth thirtieth (60th30th) day following the last day of empoymentemployment.

Termination Without Cause; For Good Reason. Subject to Section 5(bS(b), in the event the Company terminates the employment of Executive without Cause pursuant to Section 4(d), Executive resigns for Good Reason pursuant to Section 4(e), or the Executive’s employment terminates due to expiration of the Employment Term in accordance with Section 4(g) following the Company’s delivery to Executive of a notice of intent not to renew pursuant to Section 1I, then the Company shall pay to the Executive, in addition to any amounts payable under Section 4, (i) severance payments in the form of continued Base Salary, at Executive’s Base Salary as then in effect, for the thirty-six (36) month period following the effective date of the Executive’s termination if such termination happens during the first year of the Executive’s employment, twenty four months (24) if termination happens in the second year of the Executive’s employment, and twelve (12) months if the termination happens in the third year of the Executive’s employment or thereafter; (ii) payment of any accrued and unpaid annual bonus for any year preceding the year in which Executive’s employment terminates; (iii) payment of a pro rata annual bonus for the year in which Executive’s employment terminates calculated by multiplying the target bonus amount by a fraction, the numerator of which is the number of calendar days elapsed in the year as of the effective date of Executive’s termination of employment and the denominator of which is 365; and (iv) payment by the Company of Executive’s monthly health insurance premiums for a period matching the period that Executive is entitled to severance payments pursuant to section 5(a)(iS(a)(i) hereof. The severance in 5(a)(iS(a)(i) and (iv) will be paid pursuant to the Company’s payroll schedule then in effect commencing on the sixtieth (60th) day following the last day of employment and the payments in 5(a)(iiS(a)(ii) and (iii) will be paid on the sixtieth (60th) day following the last day of empoymentemployment.

Termination Without Cause; For Good Reason. Subject to Section 5(b), in the event the Company terminates the employment of Executive without Cause pursuant to Section 4(d), Executive resigns for Good Reason pursuant to Section 4(e), or the Executive’s employment terminates due to expiration of the Employment Term in accordance with Section 4(g) following the Company’s delivery to Executive of a notice of intent not to renew pursuant to Section 1, then the Company shall pay to the Executive, in addition to any amounts payable under Section 4, (iif) severance payments in the form of continued Base Salary, at Executive’s Base Salary as then in effect, for the thirty-six (36) month period following the effective date of the Executive’s termination if such termination happens during the first year of the Executive’s employment, twenty four months (24) if termination happens in the second year of the Executive’s employment, and twelve (12) months months, except if Executive separates from the termination happens in Company prior to a one year anniversary, the third year of separation payment will be prorated for the Executive’s employment or thereafterperiod employed; (ii) payment of any accrued and unpaid annual bonus for any year preceding the year in which Executive’s 's employment terminates; (iii) payment of a pro rata annual bonus for the year in which Executive’s employment terminates calculated by multiplying the target bonus amount by a fraction, the numerator of which is the number of calendar days elapsed in the year as of the effective date of Executive’s termination of employment and the denominator of which is 365; and (iv) payment by the Company of Executive’s monthly health insurance premiums for a period matching the period that Executive is entitled to severance payments pursuant to section 5(a)(i5(a) hereof. The severance in 5(a)(i) and (iv) will be paid pursuant to the Company’s payroll schedule then in effect commencing on the sixtieth fifteenth (60th15th) day following the last day of employment and the payments in 5(a)(iiS(a)(ii) and (iii) will be paid on the sixtieth thirtieth (60th30th) day following the last day of empoymentemployment.