Common use of Without Cause by Employer; Material Breach by Employer; Non-Renewal by Employer Clause in Contracts

Without Cause by Employer; Material Breach by Employer; Non-Renewal by Employer. In the event that the Employment Term is terminated by Employer pursuant to Section 3.2.5 hereof or by Executive pursuant to Section 3.2.6 hereof, or is not renewed by Employer pursuant to Section 3.1 hereof, Employer shall pay to Executive severance in an amount equal to two (2) times his Base Amount. For purposes hereof, “Base Amount” shall mean the Base Salary in effect at such applicable time plus, if Executive’s termination is not a result of, in whole or in part, Executive’s performance in respect of his duties hereunder, the amount of Executive’s last annual cash bonus pursuant to Section 2.3 hereof. Any payments made in accordance with this Section 3.3.2 shall be made in twenty-four (24) equal monthly installments from the Date of Termination in accordance with Employer’s regular payroll practices, subject to Executive’s continued compliance with the terms of Section 4 hereof and the execution by Executive of Employer’s standard form Release Agreement in effect at the time.

Without Cause by Employer; Material Breach by Employer; Non-Renewal by Employer. In the event that the Employment Term is terminated by Employer pursuant to Section 3.2.5 hereof or by Executive pursuant to Section 3.2.6 hereof, or is not renewed by Employer pursuant to Section 3.1 hereof, Employer shall pay to Executive severance in an amount equal to two (2) times his Base Amount, and Executive shall retain all vested benefits granted pursuant to Section 2.3 hereof. For purposes hereof, “Base Amount” shall mean the Base Salary in effect at such applicable time plus, if Executive’s termination is not a result of, in whole or in part, Executive’s performance in respect of his duties hereunder, the amount of Executive’s last annual cash bonus pursuant to Section 2.3 2.2 hereof. Any payments made in accordance with this Section 3.3.2 shall be made in twenty-four (24) equal monthly installments from the Date of Termination in accordance with Employer’s regular payroll practices, or, if upon agreement of Executive and Employer, in a lump sum within 30 days of the Date of Termination, subject to Executive’s continued compliance with the terms of Section 4 hereof and the execution by Executive of Employer’s standard form Release Agreement in effect at the time.

Without Cause by Employer; Material Breach by Employer; Non-Renewal by Employer. In the event that the Employment Term is terminated by Employer pursuant to Section 3.2.5 hereof or by Executive pursuant to Section 3.2.6 hereof, or is not renewed by Employer pursuant to Section 3.1 hereof, Employer shall pay to Executive severance in an amount equal to two (2) times his Base Amount, and Executive shall retain all vested benefits granted pursuant to Section 2.4 hereof. For purposes hereof, “"Base Amount” " shall mean the Base Salary in effect at such applicable time plus, if Executive’s 's termination is not a result of, in whole or in part, Executive’s 's performance in respect of his duties hereunder, the amount of Executive’s 's last annual cash bonus pursuant to Section 2.3 hereof. Any payments made in accordance with this Section 3.3.2 shall be made in twenty-four (24) equal monthly installments from the Date of Termination in accordance with Employer’s 's regular payroll practices, or, if upon agreement of Executive and Employer, in a lump sum within 30 days of the Date of Termination, subject to Executive’s 's continued compliance with the terms of Section 4 hereof and the execution by Executive of Employer’s 's standard form Release Agreement in effect at the time.

Without Cause by Employer; Material Breach by Employer; Non-Renewal by Employer. In the event that the Employment Term is terminated by Employer pursuant to Section 3.2.5 hereof or by Executive pursuant to Section 3.2.6 hereof, or is not renewed by Employer pursuant to Section 3.1 hereof, Employer shall pay to Executive severance in an amount equal to two (2) times his her Base Amount, and Executive shall retain all vested benefits granted pursuant to Section 2.3 hereof. For purposes hereof, “Base Amount” shall mean the Base Salary in effect at such applicable time plus, if Executive’s termination is not a result of, in whole or in part, Executive’s performance in respect of his her duties hereunder, the amount of Executive’s last annual cash bonus pursuant to Section 2.3 2.2 hereof. Any payments made in accordance with this Section 3.3.2 shall be made in twenty-four (24) equal monthly installments from the Date of Termination in accordance with Employer’s regular payroll practices, or, if upon agreement of Executive and Employer, in a lump sum within 30 days of the Date of Termination, subject to Executive’s continued compliance with the terms of Section 4 hereof and the execution by Executive of Employer’s standard form Release Agreement in effect at the time.