Obligations of the Employer Upon Termination. The following provisions describe the obligations of the Employer to the Executive under this Agreement upon termination of employment. However, except as explicitly provided in this Agreement, nothing in this Agreement shall limit or otherwise adversely affect any rights which the Executive may have under applicable law, under any other agreement with the Employer or any of its affiliates or subsidiaries, or under any compensation or benefit plan, program, policy or practice of the Employer or any of its affiliates or subsidiaries.
Obligations of the Employer Upon Termination. Upon termination of the Executive's employment for any reason during the Term of this Agreement, Executive shall be entitled to Base Salary and all benefits through the Date of Termination, and to exercise then vested stock options in accordance with Paragraph 5.A.(i) above. Upon the termination of the Executive's employment during the Term of this Agreement by the Executive for Good Reason, or by the Employer for any reason other than Cause, Executive shall in addition be entitled to exercise the option(s) with accelerated vesting pursuant to Paragraph 5.A.(ii) above. In addition, upon the termination of the Executive's employment during the Term of this Agreement by the Executive for Good Reason, or by the Employer for any reason other the Cause, Disability or death, the Executive shall be entitled to receive a lump sum payment equal to two (2) times the sum of (i) Executive's Base Salary as of the Date of Termination and (ii) the Executive's threshold bonus opportunity under the Incentive Plan based on the threshold bonus opportunity for the year of termination. The lump sum payment shall be paid no later than thirty days after the Date of Termination in immediately available United States funds. Notwithstanding the preceding provisions, at the Employer's sole discretion, the Employer may pay the amount determined as a lump sum in this Paragraph 9 in 24 equal monthly payments beginning on the first day of the month first following the Date of Termination.
Obligations of the Employer Upon Termination. The parties agree as follows: (a)
Obligations of the Employer Upon Termination. Upon termination of the Executive's employment for any reason during the Term of this Agreement, Executive shall be entitled to Base Salary and all benefits through the Date of Termination, and to exercise then vested stock options in accordance with and to the extent that exercise is approved by the Compensation Committee as provided in Paragraph 5.d above. Upon the termination of the Executive's employment during the Term of this Agreement by the Executive for Good Reason, or by the Employer for any reason other than Cause, Executive shall in addition be entitled to exercise the option(s) with accelerated vesting if and to the extent that exercise is approved by the Compensation Committee provided pursuant to Paragraph 5.d above. In addition, upon the termination of the Executive's employment during the Term of this Agreement by the Executive for Good Reason, or by the Employer for any reason other the Cause or death, the Executive shall be entitled to receive a lump sum payment equal to three (3) times the sum of (i) Executive's Base Salary as of the Date of Termination, and (ii) the Executive's target bonus opportunity under any Incentive Plan in place that executive participates in based on the target bonus opportunity for the year of termination or any other approved bonus arrangement for the year of termination; plus (iii) Executive's spouse and dependent medical, dental and hospital benefits that would continue to be provided at Employer expense (either group or individual policy) after employment to the extent provided in Paragraph 6 above. The lump sum payment shall be paid no later than thirty days after the Date of Termination in immediately available United States funds. Notwithstanding the preceding provisions, at the Employer's sole discretion, the Employer may pay the amount determined as a lump sum in this Paragraph 9 in 36 equal monthly payments beginning on the first day of the month first following the Date of Termination.
Obligations of the Employer Upon Termination. Upon termination of the Executive’s employment for any reason during the Term of this Agreement, Executive shall be entitled to Base Salary and all benefits through the Date of Termination, and to exercise then vested stock options in accordance with Paragraph 5.A.(i) above. Upon the termination of the Executive’s employment during the Term of this Agreement by reason of the Executive’s death or Disability, or by the Executive for Good Reason, or by the Employer for any reason other than Cause, Executive shall in addition be entitled to exercise stock options, restricted stock and other equity-based awards with accelerated vesting pursuant to Paragraph 5.A.(ii) above. In addition, upon the termination of the Executive’s employment during the Term of this Agreement by the Executive for Good Reason, or by the Employer for any reason other than Cause, or for other than Executive’s Disability or death, the Executive shall be entitled to receive: (i) a lump sum payment within thirty (30) days equal to three (3) times the sum of (a) Executive’s Base Salary as of the Date of Termination and (b) the Executive’s target bonus opportunity under the Incentive Plan based on the target bonus opportunity for the year of termination; and (ii) continued participation in the Company’s group health insurance plans at the Company’s expense until the earlier of (x) the expiration of the three (3) years from the effective date of termination or (y) Executive’s eligibility for participation in the group health plan of a subsequent employer or entity for which Executive provides services.
Obligations of the Employer Upon Termination. The following provisions describe the post-Date of Termination obligations of the Employer to the Executive under this Agreement upon the termination of Executive's employment and the Agreement. However, except as explicitly provided in this Agreement, nothing in this Agreement shall limit or otherwise adversely affect any rights which the Executive may have under applicable law, under any other agreement with the Employer or any of its subsidiaries, or under any compensation or benefit plan, program, policy or practice of the Employer or any of its subsidiaries.
Obligations of the Employer Upon Termination. (a) Upon termination of the Executive’s employment for any reason during the Term, Executive shall be entitled to Base Salary, accrued bonus, accrued equity incentive award, vested incentive and equity compensation, and all benefits and reimbursable expenses through the Date of Termination, and to exercise all vested stock options.
Obligations of the Employer Upon Termination. (a) For purposes of this Agreement, the following terms shall have the meanings ascribed to them herein.
Obligations of the Employer Upon Termination. In the event Executive’s employment under this Agreement terminates during the Term and such termination constitutes a “separation from service” from the Employer (within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code of 1986, as amended (the “Code”), and Treasury Regulation Section 1.409A-1(h)) (“Separation from Service”), the Employer will provide Executive with the payments and benefits set forth below.
Obligations of the Employer Upon Termination. Upon the termination of the Executive's employment for any reason, the Executive shall be entitled to Base Salary and all benefits (including accrued vacation) through the Date of Termination. Upon the termination of the Executive's employment other than by (i) the expiration of the Employment Period (or any extension of such term), (ii) the Executive without Good Reason, or (iii) the Employer with Cause, the Executive shall in addition be entitled to receive (i) a lump sum payment equal to the present value of the Executive's annual Base Salary as of the Date of Termination (ii) a lump sum payment of the present value of the pro rata Incentive Compensation payment as determined through the Date of Termination; and (iii) all unvested options to acquire the Employer's common stock granted to the Executive pursuant to the Stock Option Agreement between the Executive and the Employer of even date herewith shall immediately vest and become exercisable. For purposes of this Agreement, "present value" shall be determined by using the "Applicable Federal Rate" for the period corresponding with that period over which the present value is being determined. The lump sum payment shall be paid no later than thirty days after the Date of Termination in immediately available United States funds.
