Upon Expiration of the Term. In the event the Company notifies the Executive that the Term will not automatically extend in accordance with Section 3 and there is an expiration of the Term at its regularly scheduled expiration date under Section 3 (a “Scheduled Expiration”), then, following the expiration of the Term and a concurrent termination of the Executive’s employment (regardless of whether such termination is by the Company or the Executive), the Executive shall, in addition to the Accrued Termination Obligations, have the right to receive from the Company, for nine (9) months, (A) continued payment of the Base Salary at the rate in effect at the expiration of the Term in accordance with the Payroll Policies and (B) reimbursement from the Company for the premiums the Executive pays for any continued medical and dental coverage for the Executive and the Executive’s eligible dependents under the Company’s group health plans for nine (9) months following the date of such expiration of the Term and such concurrent termination as provided in Section 7(j); provided, however, that the Company shall be entitled to amend or terminate any plans which are applicable generally to the Company’s senior executives, officers or other employees. Notwithstanding the foregoing, if the Executive accepts other employment, the Company’s obligation under Section 7(j) to reimburse the Executive for the premiums paid by the Executive for COBRA Coverage (as that term is defined below in Section 7(j)) shall immediately cease upon Executive’s becoming eligible to participate in comparable medical and dental coverage pursuant to such other employer’s plans, subject to his right to continue coverage at the Executive’s own expense to the extent required under COBRA. If the Executive is not a Specified Employee as of expiration of the Term and the Executive has timely signed and delivered to the Company, by the deadline established by the Company, a Release, which has by that time become irrevocable, the Company shall pay the Executive the cash severance benefits described in clause (A) in the event of a Scheduled Expiration and such concurrent termination in accordance with the Payroll Policies commencing on the first payroll date under the Payroll Policies that coincides with or immediately follows the date that is sixty (60) days following the date of the Executive’s Separation From Service. The Executive will not be permitted to specify the year in which his payment will be made. If the 60-day period spa...
Upon Expiration of the Term. Notwithstanding anything to the contrary herein, unless the parties have elected to extend the Term of this Agreement pursuant to Section 2 hereof, or unless Executive’s employment is earlier terminated otherwise pursuant to Section 5 hereof, the Executive’s employment with the Company hereunder shall automatically terminate on the Expiration Date. In the event of a termination of employment upon the expiration of the Term of this Agreement, following the Date of Termination, the Company shall pay to the Executive any Final Compensation that is due, such payment to be made on the next regular payroll date of the Company. Any equity awards held by the Executive on the Date of Termination shall be governed by the applicable Equity Plan, any applicable grant agreements and any applicable Company securities trading policies. The Company shall have no obligation or liability to the Executive under this Agreement, other than as expressly set forth in this Section 5(g).
Upon Expiration of the Term. (a) Following the expiration of the Term with respect to a Product sold by GSK in a country pursuant to Section 12.1.1, subject to the terms and conditions of this Agreement, GSK shall have an exclusive, fully-paid and royalty free, right and license, with the right to grant sublicenses, under the Pharmacopeia IP and under Pharmacopeia’s rights in the Joint IP licensed hereunder, solely to continue to make, have made, use, sell, offer for sale and import the applicable Product in such country, for so long as it continues to do so. Following the expiration of the Term with respect to any Product sold by Pharmacopeia in a country pursuant to Section 12.1.1, subject to the terms and conditions of this Agreement, Pharmacopeia shall have an exclusive, fully-paid and royalty free, right and license, with the right to grant sublicenses, under the GSK IP and under GSK’s rights in the Joint IP licensed hereunder solely to continue to make, have made, use, sell, offer for sale and import the applicable Product in such country, for so long as it continues to do so.
(b) Following expiration of the Term in its entirety pursuant to Section 12.1.2, subject to the terms and conditions of this Agreement, GSK shall have an exclusive, fully-paid and royalty-free, right and license, with the right to grant sublicenses, under the Pharmacopeia IP and under Pharmacopeia’s rights in the Joint IP licensed hereunder solely to continue to make, have made, use, sell, offer for sale and import Products in the Territory, for so long as it continues to do so. Following the expiration of the Term in its entirety pursuant to Section 12.1.2, subject to the terms and conditions of this Agreement, Pharmacopeia shall have an exclusive, fully-paid and royalty-free, right and license, with the right to grant sublicenses, under the GSK IP and under GSK’s rights in the Joint IP licensed hereunder solely to continue to make, have made, use, sell, offer for sale and import Products in the Territory, for so long as it continues to do so.
Upon Expiration of the Term. If Employee's employment ends at or --------------------------- after such time as the term of this Agreement shall have expired, then the Company agrees to pay the Employee a sum equal to one year of Employee's salary at her Base Rate immediately prior to the termination of her employment plus the Average Annual Bonus and, in addition, the Employee's cost of continuing medical and other health insurance coverage for Employee and her family substantially as provided immediately prior to such termination for a one year period following the end of Employee's employment. The Company's responsibility for such cost shall not exceed twice the cost it paid for such coverage immediately prior to Employee's termination.
Upon Expiration of the Term. Executive’s employment hereunder shall terminate upon expiration of the Term pursuant to Section 1(a). For the avoidance of doubt, expiration of the Term shall not constitute termination by the Company without Cause or resignation by the Executive for Good Reason.
Upon Expiration of the Term. Unless earlier terminated pursuant to another provision of this Section 8 or automatically extended for an additional year as contemplated by Section 1 above (because neither party has timely given notice to the other that the Term should not be extended), Executive’s employment under this Agreement will terminate without further action by either party on March 31, 2012 (or on a later anniversary of that date if the Term has earlier been automatically extended for one or more additional years as contemplated by Section 1 above).
Upon Expiration of the Term. Unless earlier terminated pursuant to another provision of this Section 7 or extended by mutual agreement of the parties for one additional year as contemplated by Section 1 above, Executive’s employment under this Agreement will terminate without further action by either party on September 13, 2012. If Executive’s employment under this Agreement is extended for one additional year as contemplated by Section 1 above and is not thereafter earlier terminated pursuant to another provision of this Section 7, Executive’s employment under this Agreement will terminate without further action by either party on September 13, 2013.
Upon Expiration of the Term. Notwithstanding anything to the contrary herein, unless the parties have elected to extend the Term of this Agreement pursuant to Section 2 hereof, or unless Executive’s employment is earlier terminated otherwise pursuant to Section 5(c) hereof, the Executive’s employment with the Company hereunder shall automatically terminate on the Expiration Date. In the event of a termination of employment upon the expiration of the Term of this Agreement, following the Date of Termination, the Company shall pay to the Executive any Final Compensation that is due, such payment to be made on the next regular payroll date of the Company. In addition, the Executive (for the avoidance of doubt, without regard to any mandatory transitional period of employment or notice requirement) shall be entitled to the accelerated vesting and extended exercisability, to the extent applicable, provided under the Retirement Provision, if any, of any equity award held by the Executive and outstanding on the Date of Termination as if the Executive had been a “Qualified Participant” thereunder. The Executive’s right to exercise the Option and any Additional Options in accordance with their terms shall survive the termination of this Agreement. The Company shall have no obligation or liability to the Executive under this Agreement, other than as expressly set forth in this Section 5(h).
Upon Expiration of the Term. [ * ] = certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the securities and exchange commission pursuant to rule 24b-2 of the securities exchange act of 1934, as amended.
