Transition Period; Severance. (a) The Executive’s employment shall terminate ninety (90) days after an individual, identified by the Parent as the Successor, commences employment with the Parent (or such other date mutually agreed upon in writing by the Executive and the Parent) provided that Executive’s employment may be terminated earlier pursuant to Section 10 of the Employment Agreement (the earliest of the foregoing, the “Separation Date”). Notwithstanding the terms of the Employment Agreement, the Executive shall receive at least thirty (30) days’ advance notice of termination (provided, however, that if the Successor commences employment with the Parent before the Separation Date, the Executive shall be entitled to at least ninety (90) days’ advance notice of termination), or pay in lieu thereof. The period between the date the Executive signs this Agreement and the Separation Date is referred to as the “Transition Period.”
Transition Period; Severance
