Common use of Termination without Cause or by the Employee for Good Reason Clause in Contracts

Termination without Cause or by the Employee for Good Reason. If the Employee’s employment with the Company is terminated by the Company without Cause or by the Employee for Good Reason, the Employee shall be entitled to receive, a lump sum payment equal to the greater of: (x) $375,000 or (y) an amount equal to his then current Annual Salary. The payment described in this subsection is the only severance payment or payment in lieu of notice that the Employee will be entitled to receive under this Agreement (other than payments due under subsection (g) hereof) in the event of the termination of his employment on the basis contemplated in this paragraph. Any payment pursuant to this subsection shall be paid, subject to Section 2.10 hereof, within 2 ½ months of employment with the Company. Any right of the Employee to payment pursuant to this subsection shall be contingent on the Employee’s satisfaction of the release requirement in Section 1.5(i).

Termination without Cause or by the Employee for Good Reason. If the Employee’s employment with the Company is terminated by the Company without Cause or by the Employee for Good Reason, the Employee shall be entitled to receive, a lump sum payment equal to the greater of: (x) $375,000 165,000 or (y) an amount equal to his then current Annual Salary. The payment described in this subsection is the only severance payment or payment in lieu of notice that the Employee will be entitled to receive under this Agreement (other than payments due under subsection (g) hereof) in the event of the termination of his employment on the basis contemplated in this paragraph. Any payment pursuant to this subsection shall be paid, subject to Section 2.10 hereof, within 2 ½ months of employment with the Company. Any right of the Employee to payment pursuant to this subsection shall be contingent on the Employee’s satisfaction of the release requirement in Section 1.5(i).

Termination without Cause or by the Employee for Good Reason. If the Employee’s employment with the Company is terminated by the Company without Cause or by the Employee for Good Reason, the Employee shall be entitled to receive, a lump sum payment equal to the greater of: (x) $375,000 155,000 or (y) an amount equal to his her then current Annual Salary. The payment described in this subsection is the only severance payment or payment in lieu of notice that the Employee will be entitled to receive under this Agreement (other than payments due under subsection (g) hereof) in the event of the termination of his her employment on the basis contemplated in this paragraph. Any payment pursuant to this subsection shall be paid, subject to Section 2.10 hereof, within 2 ½ months of employment with the Company. Any right of the Employee to payment pursuant to this subsection shall be contingent on the Employee’s satisfaction of the release requirement in Section 1.5(i).

Termination without Cause or by the Employee for Good Reason. If the Employee’s employment with the Company is terminated by the Company without Cause or by the Employee for Good Reason, the Employee shall be entitled to receive, a lump sum payment equal to the greater of: (x) $375,000 550,000 or (y) an amount equal to his then current Annual Salary. The payment described in this subsection is the only severance payment or payment in lieu of notice that the Employee will be entitled to receive under this Agreement (other than payments due under subsection (g) hereof) in the event of the termination of his employment on the basis contemplated in this paragraph. Any payment pursuant to this subsection shall be paid, subject to Section 2.10 hereof, within 2 ½ months of employment with the Company. Any right of the Employee to payment pursuant to this subsection shall be contingent on the Employee’s satisfaction of the release requirement in Section 1.5(i).

Termination without Cause or by the Employee for Good Reason. If the Employee’s employment with the Company is terminated by the Company without Cause or by the Employee for Good Reason, the Employee shall be entitled to receive, a lump sum payment equal to the greater of: (x) $375,000 350,000 or (y) an amount equal to his then current Annual Salary. The payment described in this subsection is the only severance payment or payment in lieu of notice that the Employee will be entitled to receive under this Agreement (other than payments due under subsection (g) hereof) in the event of the termination of his employment on the basis contemplated in this paragraph. Any payment pursuant to this subsection shall be paid, subject to Section 2.10 hereof, within 2 ½ months of employment with the Company. Any right of the Employee to payment pursuant to this subsection shall be contingent on the Employee’s satisfaction of the release requirement in Section 1.5(i).