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EXHIBIT 10.66
PROVISIONS REGARDING SEVERANCE BENEFITS FROM EMPLOYMENT LETTER AGREEMENT,
EFFECTIVE SEPTEMBER 21, 1998, TO XXXXX X. XXXXX
In the event your employment is terminated by the Company other than for cause,
you would be entitled to severance in the form of a continuation of your
then-current base salary, as follows:
1. Six months salary if the termination occurs in the first twelve
months of your employment; and
2. Twelve months salary if the termination occurs thereafter.
Such payments (except those resulting from a change in control, see
below) would cease upon your commencement of paid employment or
consultancy during the severance period. During the severance
period, the Company would also reimburse you for the cost of
continuation of any health, life and disability insurance coverage
available at the time of the termination of employment, provided
that the Company reserves the right to provide substantially
equivalent alternative life and disability coverage to the extent
reasonably available upon conversion from full-time employment. Such
continuing coverage is conditioned upon your reasonable cooperation
in complying with any necessary application procedures. Remaining
benefits of employment, including your eligibility for any bonus
program and the vesting of unvested options would cease at
termination and not continue to accrue during the severance period.
The Company offers certain terms in the event of a change in control of
the Company, including acceleration of vesting of unvested stock options,
indemnity for certain excise tax obligations and increased and modified
severance arrangements, pursuant to standard agreements generally available to
Vice Presidents of the Company. These terms will be extended to you upon
commencement of your hire.
