Common use of Compliance Period Clause in Contracts

Compliance Period. For purposes of this Agreement, the "Compliance Period" shall commence on the effective date of this Agreement under Section 3(a). If an event of termination under Section 7(a) hereof occurs prior to the expiration of the term of this Agreement, the Compliance Period shall end: (i) if Executive elects to receive Severance Payments in lump sum form under Section 7(b), on the second anniversary of the termination of Executive's employment; and (ii) otherwise, on the later of (A) the expiration of six months from the date of termination of Executive's employment, and (B) the end of the period for which Executive is entitled to receive Severance Payments. If Executive's employment by the Company is terminated in accordance with Section 7(c) hereof prior to the expiration of the term of this Agreement, the Compliance Period shall end on the later of the expiration of the term of this Agreement and the first anniversary of the termination of Executive's employment. In all cases other than those described in the two preceding sentences, the Compliance Period shall end on the expiration of the term of this Agreement.

Compliance Period. For purposes of this Agreement, the "Compliance Period" shall commence on the effective date of this Agreement under Section 3(a). If an event of termination under Section 7(a) hereof occurs prior to the expiration of the term of this Agreement, the Compliance Period shall end: (i) if Executive elects to receive Severance Payments in lump sum form under Section 7(b), on the second anniversary of the termination of Executive's employment; and (ii) otherwise, on the later of (A) the expiration of six months from the date of termination of Executive's employment, employment and (B) the end of the period for which Executive is entitled to receive Severance Payments. If Executive's employment by the Company is terminated in accordance with Section 7(c) hereof prior to the expiration of the term of this Agreement, the Compliance Period shall end on the later of the expiration of the term of this Agreement and the first anniversary of the termination of Executive's employment. In all cases other than those described in the two preceding sentences, the Compliance Period shall end on the expiration of the term of this Agreement.