Effect of Termination of Engagement. Except as otherwise provided below, if the Consultant’s engagement with the Company terminates for any reason, the portion of the Option not yet exercisable on the date of termination of employment shall immediately expire. The portion of the Option which is exercisable on the date of termination of the Consultant’s engagement with the Company shall be exercisable by the Consultant at any time during the ninety (90) day period following the termination of the engagement; provided, however, that (i) if the Consultant’s engagement is terminated as a result of the ‘‘disability’’ (as defined in the Consulting Agreement, dated as of April 9, 2007, between the Company and Consultant (‘‘Consulting Agreement’’)) of Xxxxx X. Xxxx (‘‘Xxxx’’), then the Consultant’s right to exercise the Option shall terminate on the day preceding the first anniversary of the date of termination by reason of such disability; (ii) if the Consultant’s engagement with the Company is terminated because of Xxxx’x death (or if Xxxx’x death occurs within ninety (90) days after termination of the Consultant’s engagement for reasons other than those set forth in clause (i) above), then the Option shall be exercisable by the Consultant’s personal representative or heirs, as the case may be, within one year after the date of Xxxx’x death if and to the extent that it was exercisable at the date of the termination of the engagement; (iii) if Consultant’s engagement with the Company is terminated by the Company without ‘‘Cause’’ as defined in the Consulting Agreement or is terminated by Consultant for ‘‘Good Reason’’ as defined in the Consulting Agreement, then the portion of the Option which is exercisable on the date of termination and any additional portion of the Option which would have become exercisable if the engagement had continued shall become immediately exercisable and shall continue to be exercisable thereafter, absent the death of Xxxx (in which case the Option shall be exercisable by the Consultant’s personal representative or heirs, as the case may be, within one year after the date of Xxxx’x death), until the close of business on the day immediately preceding the fifth anniversary of the Grant Date; and (iv) if Consultant’s engagement with the Company is terminated for ‘‘Cause’’ as defined in the Consulting Agreement, then the portion of the Option that was exercisable on the date of termination shall also immediately expire.
Effect of Termination of Engagement. (a) Upon the termination of the Consultant's engagement hereunder pursuant to a Voluntary Termination, a Termination For Cause, a Termination Without Cause, or a Termination for Good Reason, neither the Consultant nor his beneficiary or estate shall have any further rights or claims against the Company under this Agreement except to receive all compensation owed to the Consultant as provided in Section 5, subject to any limitations provided in Sections 7 through 9 herein, as applicable.
Effect of Termination of Engagement. Upon termination of the Consultant's engagement for any reason other than for Cause:
Effect of Termination of Engagement. (a) Upon the termination of the Consultant's engagement for Cause, neither the Consultant nor the Consultant's beneficiaries or estate shall have any further rights to payment of fees under this Agreement or any claims against the Company arising out of this Agreement, except the right to receive (i) the unpaid portion of the Base Fee provided for in Section 4.1 through the Termination Date (the "Unpaid Fee Amount"); (ii) the Unpaid Bonus Amount (as hereinafter defined), (iii) reimbursement for any expenses for which the Consultant shall not have theretofore been reimbursed, as provided in Section 4.3 (the "Expense Reimbursement Amount"); and (iv) any amounts or benefits required by law to be provided. The "
Effect of Termination of Engagement
