Common use of Termination Events Resulting in Severance Payments Clause in Contracts

Termination Events Resulting in Severance Payments. In the event of the termination of the Employee’s employment by GTC without cause, then GTC shall make severance payments to the Employee in the amount set forth in, and payable in accordance with, Section 1.2. No severance shall be payable in the event that the Employee’s employment is terminated (a) by the Employee, (b) by GTC in the event of the Employee’s death or inability, by reason of physical or mental impairment, to perform substantially all of the Employee’s duties for a continuous period of 120 days, or (c) by GTC in the event of the Employee’s breach of any material duty or obligation to GTC, or intentional or grossly negligent conduct that is materially injurious to GTC (as reasonably determined by GTC’s Board of Directors) or willful failure to follow the reasonable directions of GTC’s CEO.

Termination Events Resulting in Severance Payments. In the event of the termination of the Employee’s employment by GTC without cause, then GTC shall make a severance payments payment to the Employee in the amount set forth in, and payable in accordance with, Section 1.2. No severance shall be payable in the event that the Employee’s employment is terminated (a) by the Employee, (b) by GTC in the event of the Employee’s death or inability, by reason of physical or mental impairment, to perform substantially all of the Employee’s duties for a continuous period of 120 days, or (c) by GTC in the event of the Employee’s breach of any material duty or obligation to GTC, or intentional or grossly negligent conduct that is materially injurious to GTC (as reasonably determined by GTC’s Board of Directors) or willful failure to follow the reasonable directions of GTC’s CEOexecutive officers.

Termination Events Resulting in Severance Payments. In the event of the termination of the Employee’s employment by GTC without cause, then GTC shall make severance payments to the Employee in the amount set forth in, and payable in accordance with, Section 1.2. No severance shall be payable in the event that the Employee’s employment is terminated (a) by the Employee, (b) by GTC in the event of the Employee’s death or inability, by reason of physical or mental impairment, to perform substantially all of the Employee’s duties for a continuous period of 120 days, or (c) by GTC in the event of the Employee’s breach of any material duty or obligation to GTC, or intentional or grossly negligent conduct that is materially injurious to GTC (as reasonably determined by GTC’s Board of Directors) or willful failure to follow the reasonable directions of GTC’s CEOexecutive officers.