Dispute of Termination. If, following a Change in Control, within 10 days after any notice of termination by the Executive for Good Reason or by the Company for Cause, the party receiving the notice notifies the other party that a dispute exists concerning the termination, the effective date of the termination will be the date on which the dispute is finally determined, either by mutual written agreement of the parties, or by a final judgment, order or decree of a court of competent jurisdiction (which is not appealable or the time for appeal has expired and no appeal having been perfected). A notice of dispute will extend the date of termination only if the notice is given in good faith and the party giving the notice pursues the resolution of the dispute with reasonable diligence. Notwithstanding the pendency of any dispute, the Company will continue to pay the Executive full compensation in effect when the notice giving rise to the dispute was given (including, but not limited to, base salary) and continue the Executive as a participant in all compensation, benefit and insurance plans in which the Executive was participating when the notice giving rise to the dispute was given, to the extent permissible under the terms of the applicable group plans and state and federal law, until the dispute is finally resolved in accordance with this subparagraph. Amounts paid under this Section 3.2.5 are in addition to any amounts otherwise due under this Agreement, but in no event must the Company pay more than 25% of the severance payment set forth in Section 3.2.4(c) pursuant to this Section 3.2.5.
Appears in 7 contracts
Samples: Employment Agreement (Enpath Medical, Inc.), Employment Agreement (Enpath Medical, Inc.), Employment Agreement (Enpath Medical, Inc.)
