Common use of Termination without Cause or Non-Renewal by the Company Clause in Contracts

Termination without Cause or Non-Renewal by the Company. The Company may terminate the Employee without “cause” by giving the Employee written notice of termination one month in advance of the termination date. The Employee may waive this notice period and set an earlier termination date. If (i) the Employee is terminated without “cause,” or (ii) the Employee is terminated as a result of the non-renewal of this Agreement by the Company at the end of the Initial Term or any Renewal Term in accordance with Section 3, or (iii) the Employee terminates his employment for Good Reason in accordance with Section 11, then the Employment Term shall terminate and thereafter the Employee shall be entitled only to the following under this Agreement: (1) within 30 days following the Employee’s termination date, the Company will pay to the Employee a lump sum severance payment in the amount equal to the sum of: (a) 12 months of the Salary then in effect; and (b) a pro rated amount of the Annual Bonus (calculated at 100% of Salary) from the first day of the fiscal year in which the termination occurred through the date of termination; and (2) the Employee’s group healthcare and dental coverage will be continued for 12 months, at the Employee’s normal contribution rates; and (3) the Employee’s covenants against non-competition (as described in Section 7 of this Agreement) shall be reduced to a 12 month period from the termination date, from the period contained in the Agreement referred to in Section 7 above; and (4) the next tranche of shares that would have vested under the Stock Grants in the next 12 months following such termination of employment if the Employee had continued to be employed, shall become vested on the date of such termination; and (5) the Employee and the Company will enter into, and the Employee must not revoke, a mutual general release, which shall be a condition to the receipt of the termination benefits under this Section.

Termination without Cause or Non-Renewal by the Company. The Company may terminate the Employee without “cause” by giving the Employee written notice of termination one month in advance of the termination date. The Employee may waive this notice period and set an earlier termination date. If (i) the Employee is terminated without “cause,” or (ii) the Employee is terminated as a result of the non-renewal of this Agreement by the Company at the end of the Initial Term or any Renewal Term in accordance with Section 3, or (iii) the Employee terminates his employment for Good Reason in accordance with Section 11, then the Employment Term shall terminate and thereafter the Employee shall be entitled only to the following under this Agreement: (1) within 30 days following the Employee’s termination date, the Company will pay to the Employee a lump sum severance payment in the amount equal to the sum of: (a) 12 months of the Salary then in effect; and; (b) a pro rated amount of the Annual Bonus (calculated at 100% of Salary) from the first day of the fiscal year in which the termination occurred through the date of termination; and (c) the value of the premium cost to the Company to continue the Employee on the Company’s group life and AD&D policy for the 12 month period following the Employee’s termination date; and (2) the Employee’s group healthcare and dental coverage will be continued for 12 months, at the Employee’s normal contribution rates; and (3) the Employee’s covenants against non-competition (as described in Section 7 of this Agreement) shall be reduced to a 12 month period from the termination date, from the period contained in the Agreement referred to in Section 7 above; and (4) the next tranche of shares that would have vested under the Stock Grants in the next will be accelerated for an additional period of 12 months following such termination of employment if the month in which the Employee had continued is terminated that is applied between scheduled vesting dates to be employed, shall become vested accelerate vesting on the date pro rata portion of such terminationthe vesting schedule using a monthly basis instead of the scheduled vesting dates; and (5) the Employee and the Company will enter into, and the Employee must not revoke, a mutual general release, which shall be a condition to the receipt of the termination benefits under this Section.

Termination without Cause or Non-Renewal by the Company. The Company may terminate the Employee without “cause” by giving the Employee written notice of termination one month 60 days in advance of the termination date. The Employee may waive this notice period and set an earlier termination date. If (i) the Employee is terminated without “cause,” or (ii) the Employee is terminated as a result of the non-renewal of this Agreement by the Company at the end of the Initial Term or any Renewal Term in accordance with Section 3, or (iii) the Employee terminates his her employment for Good Reason in accordance with Section 1112, then the Employment Term shall terminate and thereafter the Employee shall be entitled only to the following under this Agreement: (1) within 30 days following the Employee’s termination date, the Company will pay to the Employee a lump sum severance payment in the amount equal to the sum of: (a) 12 months of the Salary then in effect; and; (b) a pro rated amount of the Annual Bonus (calculated at 100% of Salary) from the first day of the fiscal year in which the termination occurred through the date of termination; and (c) the value of the premium cost to the Company to continue the Employee on the Company’s group life and AD&D policy for the 12 month period following the Employee’s termination date; and (2) the Employee’s group healthcare and dental coverage will be continued for 12 months, at the Employee’s normal contribution rates; and (3) the Employee’s covenants against non-competition (as described in Section 7 8 of this Agreement) shall be reduced to a 12 month period from the termination date, from the period contained in the Agreement referred to in Section 7 8 above; and (4) the next tranche Initial Stock Grant will be accelerated for an additional period of shares that would have vested under the Stock Grants in the next 12 months following such termination of employment if the month in which the Employee had continued is terminated that is applied between scheduled vesting dates to be employed, shall become vested accelerate vesting on the date pro rata portion of such terminationthe vesting schedule using a monthly basis instead of the scheduled vesting dates; and (5) the Employee and the Company will enter into, and the Employee must not revoke, a mutual general release, which shall be a condition to the receipt of the termination benefits under this Section.

Termination without Cause or Non-Renewal by the Company. The Company may terminate the Employee without “cause” by giving the Employee written notice Subsections (1) through (5) of termination one month in advance Section 13 of the termination date. The Employee may waive this notice period and set an earlier termination date. If (i) the Employee is terminated without “cause,” or (ii) the Employee is terminated Employment Agreement are hereby amended in their entirety to read as a result of the non-renewal of this Agreement by the Company at the end of the Initial Term or any Renewal Term in accordance with Section 3, or (iii) the Employee terminates his employment for Good Reason in accordance with Section 11, then the Employment Term shall terminate and thereafter the Employee shall be entitled only to the following under this Agreementfollows: (1) within 30 days following the Employee’s termination date, the Company will pay to the Employee a lump sum cash severance payment in the amount equal to the sum of: (a) 12 24 months of the Salary then in effect; and; (b) a pro rated amount of the Annual Bonus (calculated at 100% of Salary) from the first day of the fiscal year in which the termination occurred through the date of termination; and (c) the value of the premium cost to the Company to continue the Employee on the Company’s group life and AD&D policy for the 12 month period following the Employee’s termination date; and (2) the Employee’s group healthcare and dental heathcare coverage will be continued for 12 months, at the Employee’s normal contribution rates; and (3) the Employee’s covenants against non-competition (as described in the Section 7 8 of this Agreement) shall be reduced to a 12 month period from the termination date, from the period contained in the Agreement referred to in Section 7 8 above; and (4) the next tranche Initial Stock Grant will be accelerated for an additional period of shares that would have vested under the Stock Grants in the next 12 months following such termination of employment if the month in which the Employee had continued is terminated that is applied between scheduled vesting dates to be employed, shall become vested accelerate vesting on the date pro rata portion of such terminationthe vesting schedule using a monthly basis instead of the scheduled vesting dates; and (5) the Employee and the Company will enter into, and the Employee must not revoke, a mutual general release, which shall be a condition to the receipt of the termination benefits under this Section.”

Termination without Cause or Non-Renewal by the Company. The Company may terminate the Employee without “cause” by giving the Employee written notice Subsections (1) through (5) of termination one month in advance Section 12 of the termination date. The Employee may waive this notice period Employment Agreement, and set an earlier termination date. If (i) the Employee is terminated without “cause,” or (ii) the Employee is terminated as a result Part G of the non-renewal of this Agreement by the Company at the end First Amendment amending subsection (1) of the Initial Term or any Renewal Term Employment Agreement, are hereby amended in accordance with Section 3, or (iii) the Employee terminates his employment for Good Reason in accordance with Section 11, then the Employment Term shall terminate and thereafter the Employee shall be entitled only their entirety to the following under this Agreementread as follows: (1) within 30 days following the EmployeeExecutive’s termination date, the Company will pay to the Employee Executive a lump sum cash severance payment (the “Severance Payment”) in the amount equal to the sum of: (ai) the greater of 12 months or the remainder (up to only a maximum of 24 months) of the Employment Term, of the sum of (x) the Salary then in effect; and, plus (y) the Annual Bonus (calculated as equal to 100% of Salary) then in effect; (bii) a pro rated amount of the Annual Bonus (calculated at 100% of Salary) from the first day of the fiscal calendar year in which the termination occurred through the date of termination; and (iii) the value of the premium cost to the Company to continue the Executive on the Company’s group life and AD&D policy for the 12 month period following the Executive’s termination date; and (2) the EmployeeExecutive’s group healthcare and dental heathcare coverage will be continued for 12 months, at the EmployeeExecutive’s normal contribution rates; and (3) all unvested shares of the Employee’s covenants against non-competition (as described in Section 7 of this Agreement) Initial Stock Grant shall be reduced to a 12 month period from the termination date, from the period contained in the Agreement referred to in Section 7 abovebecome vested; and (4) the next tranche of shares that would have vested under the entire Performance Stock Grants in the next 12 months following such termination of employment if the Employee had continued to be employed, Grant shall become vested on vested, except to the date of such terminationextent that vesting opportunities pursuant to the Performance Stock Grant have passed and the Executive’s opportunity to earn the associated shares irrevocably has been lost; and (5) the Employee Executive and the Company will enter into, and the Employee Executive must not revoke, a mutual general release, which shall be a condition to the receipt of the termination benefits under this Section.”