Common use of Termination Without Cause or Constructive Termination Clause in Contracts

Termination Without Cause or Constructive Termination. In the event of your Termination without Cause or Constructive Termination, provided that (except with respect to the Accrued Compensation) you deliver to the Company a signed settlement agreement and general release of claims in favor of the Company on the Company’s standard form of release (the “Release”) and satisfy all conditions to make the Release effective within fifty (50) days following your termination of employment, then, you shall be entitled to (i) your Accrued Compensation, payable on the date of your termination, (ii) continued payment of your then-current Base Salary for a period of six (6) months following the date of your termination in accordance with the Company’s standard payroll schedule, with the first installment payable on the Company’s first customary payroll date that occurs on the sixtieth (60th) day following your date of termination; provided that the first installment shall include a catch-up payment to cover payment of amount retroactive to the day immediately following the date of termination, and (iii) provided you timely elect to continue health coverage under COBRA, reimbursement for any monthly COBRA premium payments made by Employee in the six (6) months following your termination of employment or, if earlier, until you are eligible to be covered under another substantially equivalent medical insurance plan by a subsequent employer; provided that, if the Company determines in its sole discretion that it cannot provide the COBRA benefits described herein without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide you with a taxable lump sum payment in an amount equal to the then unreimbursed monthly COBRA premiums, which lump sum payment will be made on the first business day after the 60th day following your termination of employment.

Termination Without Cause or Constructive Termination. In the event of your Termination without Cause or Constructive Termination, provided that (except with respect to you will receive the Accrued Compensation) . In addition, provided that you deliver to the Company a signed settlement agreement and general release of claims in favor of the Company on the Company’s standard form of release (the “Release”) and satisfy all conditions to make the Release effective within fifty (50) days following your termination of employment, then, then you shall be entitled to (i) your Accrued Compensation, payable on the date of your termination, (ii) continued payment of your then-current Base Salary for a period of six (6) months following the date of your termination in accordance with the Company’s standard payroll schedule, with the first installment payable on the Company’s first customary payroll date that occurs on the sixtieth (60th) day following your date of termination; provided that the first installment shall include a catch-up payment to cover payment of amount retroactive to the day immediately following the date of termination, and (iiiii) provided you timely elect to continue health coverage under COBRA, reimbursement for any monthly COBRA premium payments made by Employee in the six (6) months following your termination of employment or, if earlier, until you are eligible to be covered under another substantially equivalent medical insurance plan by a subsequent employer; provided that, if the Company determines in its sole discretion that it cannot provide the COBRA benefits described herein without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide you with a taxable lump sum payment in an amount equal to the then unreimbursed monthly COBRA premiums, which lump sum payment will be made on the first business day after the 60th day following your termination of employment.

Termination Without Cause or Constructive Termination. In the event of your Termination without Cause or Constructive Termination, provided that (except with respect to the Accrued Compensation) you deliver to the Company a signed settlement agreement and general release of claims in favor of the Company on the Company’s standard form of release (the “Release”) and satisfy all conditions to make the Release effective within fifty (50) days following your termination of employment, then, you shall be entitled to (i) your Accrued Compensation, payable on the date of your termination, (ii) continued payment of your then-current Base Salary for a period of six twelve (612) months following the date of your termination in accordance with the Company’s standard payroll schedule, with the first installment payable on the Company’s first customary payroll date that occurs on the sixtieth (60th) day following your date of termination; provided that the first installment shall include a catch-up payment to cover payment of amount retroactive to the day immediately following the date of termination, and (iii) provided you timely elect to continue health coverage under COBRA, reimbursement for any monthly COBRA premium payments made by Employee in the six twelve (612) months following your termination of employment or, if earlier, until you are eligible to be covered under another substantially equivalent medical insurance plan by a subsequent employer; provided that, if the Company determines in its sole discretion that it cannot provide the COBRA benefits described herein without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide you with a taxable lump sum payment in an amount equal to the then unreimbursed monthly COBRA premiums, which lump sum payment will be made on the first business day after the 60th day following your termination of employment.

Termination Without Cause or Constructive Termination. In the event of your Termination without Cause or Constructive Termination, provided that (except with respect to the Accrued Compensation) you deliver to the Company a signed settlement agreement and general release of claims in favor of the Company on the Company’s standard form of release (the “Release”) and satisfy all conditions to make the Release effective within fifty thirty (5030) days following your termination of employment, then, you shall be entitled to (i) your Accrued Compensation, payable on the date of your termination, (ii) continued payment of your then-current Base Salary for a period of six twelve (612) months following the date of your termination in accordance with the Company’s standard payroll schedule, with the first installment payable on the Company’s first customary payroll date that occurs on the sixtieth more than thirty (60th30) day days following your date of termination; provided that the first installment shall include a catch-up payment to cover payment of amount retroactive to the day immediately following the date of termination, and (iii) provided you timely elect to continue health coverage under COBRA, reimbursement for any monthly COBRA premium payments made by Employee in the six twelve (612) months following your termination of employment or, if earlier, until you are eligible to be covered under another substantially equivalent medical insurance plan by a subsequent employer; provided that, if the Company determines in its sole discretion that it cannot provide the COBRA benefits described herein without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide you with a taxable lump sum payment in an amount equal to the then unreimbursed monthly COBRA premiums, which lump sum payment will be made on the first business day after the 60th day following your termination of employment.