Common use of Termination Without Cause Prior to a Change in Control Clause in Contracts

Termination Without Cause Prior to a Change in Control. If the Company terminates the Executive’s employment without Cause within three (3) months prior to the occurrence of a Change in Control, then commencing on the pay date next following the Executive’s termination, the Company shall continue to pay the Executive’s base salary until the end of the period following the termination of the Executive’s employment equal to twelve (12) months. Such severance payments shall be subject to standard deductions and withholdings and paid on the Company’s regular payroll dates and in accordance with its regular payroll

Appears in 3 contracts

Samples: Change in Control Severance Agreement (SGX Pharmaceuticals, Inc.), Change in Control Severance Agreement (SGX Pharmaceuticals, Inc.), Change in Control Severance Agreement (SGX Pharmaceuticals, Inc.)

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Termination Without Cause Prior to a Change in Control. If the Company terminates the Executive’s employment without Cause within three (3) months prior to the occurrence of a Change in Control, then commencing on the pay date next following the Executive’s termination, the Company shall continue to pay the Executive’s base salary until the end of the period following the termination of the Executive’s employment equal to [twelve (12) months. Such severance payments shall be subject to standard deductions and withholdings and paid on the Company’s regular payroll dates and in accordance with its regular payroll)] [twenty-four

Appears in 1 contract

Samples: Change in Control Severance Agreement (SGX Pharmaceuticals, Inc.)

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