Common use of Termination Without Cause or Constructive Termination Without Cause Clause in Contracts

Termination Without Cause or Constructive Termination Without Cause. In the event the Executive's employment is terminated by the Company without Cause, other than due to Disability or death, or in the event there is a Constructive Termination without Cause, or in the event the Term of Employment provided for in Section 2 is not extended and expires, the Executive shall be entitled to the following: (i) Base Salary through the date of termination; (ii) Base Salary, at the annualized rate in effect on the date of termination, for 12 months (the "Salary Continuation Period") after the date of termination; (iii) all outstanding stock options which are not then vested shall be forfeited and all vested options shall remain exercisable in accordance with their terms; and (iv) continued participation in all medical, dental, hospitalization and life insurance programs and in all other employee welfare benefit plans and programs in which he was participating on the date of termination (to the extent that such plans permit the Executive's continued participation) until the earlier of (x) the end of the Salary Continuation Period and (y) the date, or dates, that he becomes eligible for coverages and benefits under the plans and programs of a subsequent employer.

Termination Without Cause or Constructive Termination Without Cause. In the event the Executive's employment is terminated by the Company without Cause, other than due to Disability or death, or in the event there is a Constructive Termination without Cause, or in the event the Term of Employment provided for in Section 2 is not extended and expires, the Executive shall be entitled to the following: (i) Base Salary through the date of termination; (ii) Base Salary, at the annualized rate in effect on the date of termination, for 12 months (the "Salary Continuation Period") after the date of termination; (iii) all outstanding stock options which are not then vested shall be forfeited and all vested options shall remain exercisable in accordance with for the balance of their termsstated term; and (iv) continued participation in all medical, dental, hospitalization and life insurance programs and in all other employee welfare benefit plans and programs in which he was participating on the date of termination (to the extent that such plans permit the Executive's continued participation) until the earlier of (x) the end of the Salary Continuation Period and (y) the date, or dates, that he becomes eligible for coverages and benefits under the plans and programs of a subsequent employer.