Common use of Termination Without Cause or Resignation for Good Reason Unrelated to Change in Control Clause in Contracts

Termination Without Cause or Resignation for Good Reason Unrelated to Change in Control. If at any time except during the Change in Control Period (as defined below) (i) the Company terminates Executive’s employment without Cause (as defined below and other than as a result of Executive’s death or Disability), or (ii) Executive resigns for Good Reason (as defined below), and provided in any case such termination constitutes a “separation from service”, as defined under Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) (such termination described in (i) or (ii), an “Involuntary Termination”), Executive shall be entitled to receive the following severance benefits, subject in all events to Executive’s compliance with Section 8.4 below: (i) Executive shall receive severance pay in the form of continuation of Executive’s base salary in effect (ignoring any decrease that forms the basis for Executive’s resignation for Good Reason, if applicable) on the effective date of Executive’s Involuntary Termination for the first nine (9) months (the “Severance Period”) after the date of such termination; and

Appears in 1 contract

Samples: Executive Employment Agreement (Tocagen Inc)

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Termination Without Cause or Resignation for Good Reason Unrelated to Change in Control. If at any time except during the Change in Control Period (as defined below) (i) the Company terminates Executive’s 's employment without Cause (as defined below and other than as a result of Executive’s 's death or Disability), or (ii) Executive resigns for Good Reason (as defined below), and provided in any case such termination constitutes a "separation from service", as defined under Treasury Regulation Section 1.409A-1(hl.409A-l(h)) (a "Separation from Service") (such termination described in (i) or (ii), an "Involuntary Termination"), Executive shall be entitled to receive the following severance benefits, subject in all events to Executive’s 's compliance with Section 8.4 below: (i) Executive shall receive severance pay in the form of continuation of Executive’s 's base salary in effect (ignoring any decrease that forms the basis for Executive’s 's resignation for Good Reason, if applicable) on the effective date of Executive’s 's Involuntary Termination for the first nine twelve (912) months (the "Severance Period") after the date of such termination; and

Appears in 1 contract

Samples: Executive Employment Agreement (Tocagen Inc)

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