Voluntary Termination by Employee for Good Reason. Employee may at any time voluntarily terminate this Agreement for "Good Reason" upon thirty (30) days' prior written notice to the Company. For purposes of this Agreement, Good Reason shall mean the occurrence of any of the following events: (i) a change materially adverse to the Employee in the Employee's status, title, position, or responsibilities; (ii) the insolvency or the filing of a petition for bankruptcy of the Company; (iii) the failure of the Company to obtain an agreement, satisfactory to the Employee, from any successor or assign of the Company to assume and agree to perform this Agreement; or (iv) any material breach by the Company of this Agreement. In the event of voluntary termination for Good Reason, (i) the Company shall, at the election of Employee, either continue to pay Employee his then effective salary and all benefits hereunder for twelve (12) months, including 100% of any bonus paid or payable to Employee with respect to the calendar year immediately preceding termination, or pay Employee, within fifteen (15) days of termination, a lump sum payment equal to Employee's salary and benefits hereunder for twelve (12) months, including 100% of any bonus paid or payable to Employee with respect to the calendar year immediately preceding termination, and (ii) all outstanding stock options held by Employee shall become fully vested and exercisable.
Voluntary Termination by Employee for Good Reason. Employee may at any time voluntarily terminate his employment for "good reason" (as defined below) upon 30 days prior written notice thereof to the Company. In such event, the Company shall pay Employee his monthly base salary (subject to standard
Voluntary Termination by Employee for Good Reason. Employee may at any time voluntarily terminate his employment for "good reason" (as defined below) upon 30 days prior written notice thereof to the Company. In the event of such voluntary termination for "good reason", (a) the Company shall at the election of Employee either (x) continue to pay Employee his then effective base salary under Section 3.1 hereof and all benefits under Section 3.3 and 3.4 hereof through the expiration of the three-year term then in effect (without giving effect to any further extensions thereof under Article II hereof) or pay Employee, within 15 days of such termination, a lump sum payment equal to (without discounting to present value) his then effective base salary under Section 3.1 hereof through the expiration of the three-year term then in effect (without giving effect to any further extensions thereof under Article II hereof), and (b) any outstanding stock options held by Employee shall become fully vested and exercisable pursuant to the Agreement Regarding Vesting of Stock Options, the form of which is attached hereto as Exhibit A. Regardless of which election is made by Employee, the Company shall also pay the Employee the aggregate of all remaining Employee Loan Repayment, if any, previously paid to Employee. Employee must make his election under clause (a) above by giving the Company written notice thereof with 30 days after notice of termination is given pursuant to this Section 4.1. If Employee does not make such an election within the 30-day period, he will be deemed to have elected to receive the lump sum payment described in clause (a)(y) above.
Voluntary Termination by Employee for Good Reason. Employee may at any time voluntarily terminate his employment for "good reason" (as defined below). In the event of such voluntary termination for "good reason," (a) the Company shall pay Employee, within 15 days of the effective date of such termination, a lump-sum payment equal to (without discounting to present value) one times his then effective annual base salary under Section 3.1 hereof, (b) the Company shall provide the continued benefit coverage described in Section 4.1, and (c) any outstanding stock options to acquire shares of the Company's common stock held by Employee not already fully vested and exercisable pursuant to the Agreement Regarding Vesting and Adjustment of Stock Options attached hereto as EXHIBIT A, shall become fully vested and exercisable.
Voluntary Termination by Employee for Good Reason. Employee may at any time voluntarily terminate his employment for "good reason" (as defined below) upon sixty (60) days prior written notice thereof to the Employer. In the event of such voluntary termination for "good reason", (a) the Employer shall continue to pay Employee his then effective base salary under Section 3.1 hereof for a full twelve (12) month period, and (b) any outstanding stock options held by Employee shall become fully vested and exercisable pursuant to the Agreement Regarding Vesting of Stock Options, the form of which is attached hereto as Exhibit B.
Voluntary Termination by Employee for Good Reason. Employee may at any time voluntarily terminate his employment for "good reason" (as defined below) upon 30 days prior written notice thereof to the Company. In the event of such voluntary termination for "good reason".
(a) the Company shall at the election of Employee either continue to pay Employee his then effective base salary under Section 3.1 hereof and all benefits under Section 3.3 hereof through the expiration of the three-year term then in effect or pay Employee, within 45 days of such termination, a lump sum payment equal to (without discounting to present value) his then effective base salary under Section 3.1 hereof through the expiration of the three-year term then in effect. Employee must make his election under clause (a) above by giving the Company written notice thereof with 30 days after notice of termination is given pursuant to this Section 4.2. If Employee does not make such an election within the 30-day period, he will be deemed to have elected to receive the lump sum payment described in clause (a)(x) above.
Voluntary Termination by Employee for Good Reason. Employee may at any time voluntarily terminate his employment for "good reason" (as defined below) upon 30 days prior written notice thereof to the Company. In the event of such voluntary termination for "good reason," (a) the Company shall pay Employee, within 15 days of such termination, a lump-sum payment equal to (without discounting to present value) his then effective base salary under Section 3.1 hereof through the expiration of the four-year term then in effect (without giving effect to any further extensions thereof under Article II hereof), (b) the Company shall provide the continued benefit coverage described in Section 4.1 in the event of the Employee's termination by the Company without cause, and (c) all outstanding stock options held by Employee not already vested and exercisable shall become fully vested and exercisable.
Voluntary Termination by Employee for Good Reason. Employee may at any time voluntarily terminate his employment for "good reason" (as defined below). In the event of such voluntary termination for "good reason," (a) the Company shall pay Employee, within fifteen (15) days of the effective date of such termination, a lump-sum payment equal to (without discounting to present value) two times his then effective annual base salary under Section 3.1 hereof, and (b) all outstanding stock options held by Employee not already vested and exercisable shall become fully vested and exercisable.
Voluntary Termination by Employee for Good Reason. (a) Employee may terminate Employee’s employment with Employer for Good Reason (as defined herein) by giving Employer written notice of intent to terminate for Good Reason, specifying in such notice a termination date of not less than thirty (30) calendar days after giving the notice (“Notice Period”) and the cause constituting “Good Reason” for such termination. Employer has the right to release Employee from performing the duties and obligations of his position at any time during the Notice Period and, should Employer exercise such right, Employer shall compensate Employee his Base Salary for the entire Notice Period, subject to applicable taxes and withholdings, and payable in accordance with Employer’s customary pay cycles and procedures. At the end of Notice Period, Employer’s obligations to pay Employee the elements of compensation described in Sections 4, 5, 6, 7, and 8 of this Agreement shall immediately expire, except that Employer shall pay Employee for any incurred and unreimbursed expenses and on the next regular payday following the termination date Employer shall pay Employee that portion of his Base Salary and unused vacation (subject to Section 5) that shall have been earned through the termination date. If Employee terminates employment for Good Reason, Employee shall also be entitled to receive the severance payment set forth, and subject to the conditions in, Section 16 of this Agreement. Aside from the payments set forth or referenced in this Section 13(a) of the Agreement, Employer shall have no further obligations to Employee under this Agreement.
Voluntary Termination by Employee for Good Reason. Employee may at any time voluntarily terminate his employment for "good reason" (as defined below). In the event of such voluntary termination for "good reason," the Company shall pay Employee, within fifteen (15) days of the effective date of such termination, a lump-sum payment equal to (without discounting to present value) (a) one half (1/2) of his then effective annual base salary under Section 3.1 hereof if such termination occurs during the first twelve (12) months of the term of this Agreement or (b) one times his then effective annual base salary under Section 3.1 hereof if such termination occurs after the first twelve (12) months of the term of this Agreement.
