Common use of With Good Reason; Without Cause Clause in Contracts

With Good Reason; Without Cause. If during the Employment Period, the Company shall terminate Executive’s employment without Cause or Executive shall terminate his employment for Good Reason, then the Company will provide Executive with the following payments and/or benefits: (i) The Company shall pay to Executive as soon as reasonably practicable but no later than the 15th day of the third month following the end of the calendar year that contains the Date of Termination in a lump sum to the extent not previously paid, (A) the Annual Base Salary through the Date of Termination, and (B) the Bonus earned for any fiscal year ended prior to the year in which the Date of Termination occurs, provided that Executive was employed on the last day of such fiscal year (“Accrued Obligations”); and (ii) After the Date of Termination, the Company will pay Executive, in six quarterly installments commencing as of the Date of Termination, an amount equal to 100% of the sum of (A) Executive’s Annual Base Salary and (B) Executive’s Target Bonus, such installment to be paid ratably on the last day of the quarter (the “Severance Payments”).

With Good Reason; Without Cause. If during the Employment Period, the Company shall terminate Executive’s employment without Cause or Executive shall terminate his employment for Good Reason, then the Company will provide Executive with the following payments and/or benefits: (i) The Company shall pay to Executive as soon as reasonably practicable but no later than the 15th day of the third month following the end of the calendar year that contains the Date of Termination in a lump sum to the extent not previously paid, (A) the Annual Base Salary through the Date of Termination, and (B) the Bonus earned for any fiscal year ended prior to the year in which the Date of Termination occurs, provided that Executive was employed on the last day of such fiscal year (“Accrued Obligations”); and (ii) After the Date of Termination, the Company will pay Executive, in six eight quarterly installments commencing as of the Date of Termination, an amount equal to 100% of two times the sum of (A) Executive’s Annual Base Salary and (B) Executive’s Target Bonus, such installment to be paid ratably on the last day of the quarter (the “Severance Payments”).

With Good Reason; Without Cause. If during the Employment Period, the Company shall terminate Executive’s employment without Cause or Executive shall terminate his employment for Good Reason, then the Company will provide Executive with the following payments and/or benefits: (i) The Company shall pay to Executive as soon as reasonably practicable but no later than the 15th day of the third month following the end of the calendar year that contains the Date of Termination in a lump sum to the extent not previously paid, (A) the Annual Base Salary through the Date of Termination, and (B) the Bonus earned for any fiscal year ended prior to the year in which the Date of Termination occurs, provided that Executive was employed on the last day of such fiscal year (“Accrued Obligations”); and (ii) After the Date of Termination, the Company will pay Executive, in six equal quarterly installments commencing as of the Date of Termination, an amount equal to 100% of one times the sum of (A) Executive’s Annual Base Salary and (B) Executive’s Target Bonus, such installment to be paid ratably on the last day of the quarter (the “Severance Payments”).