Expiration of the Term. Executive or the Company may elect not to renew or extend the Term in accordance with Section 1 above, in which case the Termination Date shall be the date the Term expires. In the event of such a termination, Executive shall only be entitled to the Accrued Obligations.
Appears in 7 contracts
Samples: Executive Employment Agreement (Wireless Telecom Group Inc), Executive Employment Agreement (Inspire Pharmaceuticals Inc), Executive Employment Agreement (Inspire Pharmaceuticals Inc)
Expiration of the Term. Executive or the Company may elect not to renew or extend the Term in accordance with Section 1 above, in which case the Termination Date shall be the date the Term expires. In the event of such a termination, Executive shall only be entitled to the Accrued ObligationsObligations and on any termination of employment upon or after such expiration the Sign-On Award shall remain exercisable for the lesser of two years or the remainder of the initial term of such Sign-On Award.
Appears in 2 contracts
Samples: Executive Employment Agreement (Inspire Pharmaceuticals Inc), Executive Employment Agreement (Inspire Pharmaceuticals Inc)
