Common use of Without Cause; For Good Reason Clause in Contracts

Without Cause; For Good Reason. Subject to Section 30, in the event of (i) termination of this Agreement by the Company other than for Cause, or (ii) termination of this Agreement by Executive for Good Reason without a Change in Control, the Company shall pay Executive, in a lump sum within thirty (30) days after termination under this Section 10(b), the sum of (A) the amount described in Section 10(a) of this Agreement (other than the payments to be paid in case of termination by death), and (B) the amount equal to two times (2x) the Executive’s Annual Compensation in effect at the time of termination under this Section 10(b), and the Company shall continue all of the benefits and perquisites set forth in Section 5 for a period of two (2) years each payable in accordance with regular payroll practices, notwithstanding the fact that Executive may no longer be an employee eligible to participate in one or more of the employee benefit plans maintained by the Company.

Appears in 3 contracts

Samples: Palomar Medical Technologies Inc, Palomar Medical Technologies Inc, Palomar Medical Technologies Inc

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Without Cause; For Good Reason. Subject to Section 30, in In the event of (i) termination of this Agreement by the Company other than for Cause, or (ii) termination of this Agreement by Executive for Good Reason without Reason, in either case, other than within one year of a Change in Control, the Company shall pay Executive, in a lump sum within thirty (30) days after termination under this Section 10(b), the sum of (A) the amount described in Section 10(a) of this Agreement (other than the payments to be paid in case of termination by death), and (B) the amount equal to two four times (2x4x) the Executive’s Annual Compensation 's annual base salary in effect at the time of termination under this Section 10(b), and the Company shall continue during the Term all of the benefits and perquisites set forth in Section 5 for a period of two (2) years each payable in accordance with regular payroll practices5, notwithstanding the fact that Executive may no longer be an employee eligible to participate in one or more of the employee benefit plans maintained by the Company.

Appears in 1 contract

Samples: Employment Agreement (Palomar Medical Technologies Inc)

Without Cause; For Good Reason. Subject to Section 30, in In the event of (i) termination of this ofthis Agreement by the Company other than for Cause, or (ii) termination of this Agreement thisAgreement by Executive for Good Reason without Reason, in either case, other than within oneyear of a Change in Control, the Company shall pay Executive, in a lump sum within sumwithin thirty (30) days after termination under this Section 10(b), the sum of (Aof(A) the amount described in Section 10(a) of this Agreement (other than the payments thepayments to be paid in case of termination by death), and (B) the amount equal to two equalto four times (2x4x) the Executive’s Annual Compensation 's annual base salary in effect at the time of termination oftermination under this Section 10(b), and the Company shall continue during theTerm all of the benefits and perquisites set forth in Section 5 for a period of two (2) years each payable in accordance with regular payroll practices5, notwithstanding the notwithstandingthe fact that Executive may no longer be an employee eligible to participate in one inone or more of the employee benefit plans maintained by the Company.

Appears in 1 contract

Samples: Employment Agreement (Palomar Medical Technologies Inc)

Without Cause; For Good Reason. Subject to Section 30, in In the event of (i) termination or non-renewal of this Agreement by the Company other than for Cause, or (ii) termination of this Agreement by Executive for Good Reason without a Change in Control, the Company shall pay Executive, in a lump sum within thirty (30) days after termination under this Section 10(b), the sum of (A) the amount described in Section 10(a) of this Agreement (other than the payments to be paid in case of termination by death), and (B) the amount equal to two times one time (2xlx) the Executive’s 's Annual Compensation in effect at the time of termination under this Section 10(b), and the Company shall continue all of the benefits and perquisites set forth in Section 5 for a period of two one (21) years each payable in accordance with regular payroll practicesyear, notwithstanding the fact that Executive may no longer be an employee eligible to participate in one or more of the employee benefit plans maintained by the Company.

Appears in 1 contract

Samples: Employment Agreement (Palomar Medical Technologies Inc)

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Without Cause; For Good Reason. Subject to Section 30, in In the event of (i) termination of this Agreement by the Company other than for Cause, or (ii) termination of this Agreement by Executive for Good Reason without a Change in Control, the Company shall pay Executive, in a lump sum stun within thirty (30) days after termination under this Section 10(b10(B), the sum of (A) the amount described in Section 10(a) of this Agreement (other than the payments to be paid in case of termination by death), and (B) the amount equal to two times one time (2xlx) the Executive’s Annual Compensation 's annual base salary in effect at the time of termination under this Section 10(bSECTION 10(B), and the Company shall continue during the Term all of the benefits and perquisites set forth in Section 5 for a period of two (2) years each payable in accordance with regular payroll practicesSECTION 5, notwithstanding the fact that Executive may no longer be an employee eligible to participate in one or more of the employee benefit plans maintained by the Company.

Appears in 1 contract

Samples: Employment Agreement (Palomar Medical Technologies Inc)

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