TRANSITION COMMENCEMENT DATE. As of <<Transition Commencement Date>> (the “Transition Commencement Date”), Executive will no longer hold the position of Senior Vice President of Research and Development and will be relieved of all of Executive’s authority and responsibilities in that position. Executive will be paid (a) any earned but unpaid base salary for his services as an officer of the Company prior to the Transition Commencement Date and any outstanding expense reimbursements submitted and approved pursuant to Section 3.1 of Executive’s Employment Agreement with the Company dated as of September 20, 2012 (the “Employment Agreement”); and (b) other unpaid vested amounts or benefits under the compensation, incentive and benefit plans of the Company in which Executive participates, in each case under this clause (b) as of the Transition Commencement Date. The payment of the foregoing amounts shall be made to Executive by no later than the next regular payroll date following the Transition Commencement Date As of the first day of the month following the Transition Commencement Date, Executive will no longer participate in Cadence’s medical, dental, and vision insurance plans (unless Executive elects to continue coverage pursuant to COBRA), and will not be eligible for a bonus for any services rendered after that date.
TRANSITION COMMENCEMENT DATE. From the Effective Date until August 14, 2011 (the “Initial Period”), Executive shall remain a full-time employee of Cadence; provided, however, that (i) if Executive desires to accept full-time employment with a third party that is not engaged in a Cadence Business or the EDA Industry (each, as hereinafter defined), Cadence shall not unreasonably withhold or delay its consent to same, and (ii) if Cadence grants such consent and Executive accepts such full-time employment, then Executive’s employment with Cadence during the remainder of the Initial Period shall change to a part-time basis. Effective as of August 15, 2011 (the “Transition Commencement Date”), Executive, to the extent he has not already transitioned into part-time status, shall become a part-time employee of Cadence. Executive will be paid (a) any earned but unpaid base salary for his services as an officer of the Company prior to the Transition Commencement Date and any outstanding expense reimbursements submitted and approved pursuant to Section 3.1 of Executive’s Employment Agreement with the Company effective as of August 3, 2010 (the “Employment Agreement”); and (b) other unpaid vested amounts or benefits under the compensation, incentive and benefit plans of the Company in which Executive participates, in each case under this clause (b) as of the Transition Commencement Date. The payment of the foregoing amounts shall be made to Executive by no later than the next regular payroll date following the Transition Commencement Date. As of the first day of the month following the Transition Commencement Date, or, if sooner, the first date that Executive no longer meets the eligibility requirements under the terms of Cadence’s medical, dental, and vision insurance plans, Executive will no longer participate in Cadence’s medical, dental, and vision insurance plans (unless Executive elects to continue coverage pursuant to COBRA).
TRANSITION COMMENCEMENT DATE. As of <> (the "Transition Commencement Date"), Executive will no longer hold the position of Executive Vice President and General Manager and will be relieved of all of Executive's authority and responsibilities in that position. Executive will be paid all accrued salary for his services as Executive Vice President and General Manager to the Transition Commencement Date by not later than the following regular payroll date. Following the Transition Commencement Date, Executive will no longer participate in Cadence's medical, dental, and vision insurance plans (unless Executive elects to continue coverage pursuant to COBRA), and will not be eligible for a bonus for any services rendered after that date.
TRANSITION COMMENCEMENT DATE. As of <> (the "Transition Commencement Date"), Executive will no longer hold the position of Executive Vice President, Worldwide Field Operations and will be relieved of all of Executive's authority and responsibilities in that position. Executive will be paid all accrued salary for his services as Executive Vice President, Worldwide Field Operations to the Transition Commencement Date by not later than the following regular payroll date. Following the Transition Commencement Date, Executive will no longer participate in Cadence's medical, dental, and vision insurance plans (unless Executive elects to continue coverage pursuant to COBRA), and will not be eligible for a bonus for any services rendered after that date.
TRANSITION COMMENCEMENT DATE. As of November 30, 2007, (the “Transition Commencement Date”), Executive will no longer hold the position of Executive Vice President and General Manager, Verification Division, and will be relieved of all of Executive’s authority and responsibilities in that position. Executive will be paid all accrued salary for his services as Executive Vice President and General Manager, Verification Division, to the Transition Commencement Date by not later than the following regular payroll date. Following the Transition Commencement Date, Executive will no longer participate in Cadence’s medical, dental, and vision insurance plans (unless Executive elects to continue coverage pursuant to COBRA), and will not be eligible for a bonus for any services rendered after that date.
TRANSITION COMMENCEMENT DATE. As of ____________________ (the "Transition Commencement Date"), Executive will no longer hold the position of Executive Chairman of the Board ("Executive Chairman") and will be relieved of all of Executive's authority and responsibilities in such position and will resign from the Board of Directors of the Company (the "Board") upon request by the Company. Executive will be paid (a) any earned but unpaid base salary for his services as Executive Chairman prior to the Transition Commencement Date, (b) any outstanding expense reimbursements submitted and approved pursuant to the Company's applicable expense reimbursement policy as currently in effect; and (c) other unpaid vested amounts or benefits under the compensation, incentive and benefit plans of the Company in which Executive participates, in each case under this clause (c) as of the Transition Commencement Date. The payment of the foregoing amounts shall be made to Executive by not later than the next regular payroll date following the Transition Commencement Date. As of the first day of the month following the Transition Commencement Date, except as otherwise provided herein, Executive will no longer participate in Cadence's employee benefit plans and will not be eligible for a bonus for any services rendered after that date, except as expressly provided herein.
