Common use of Rights Upon Termination of Employment Clause in Contracts

Rights Upon Termination of Employment. 8.1 If Employee’s employment with the Company is terminated by the Company or Employee for any reason upon or following the expiration of the Term, or if Employee’s employment with the Company is terminated during the Term by the Company for Cause (as defined below) or by Employee for any reason other than Good Reason (as defined below), or if Employee’s employment with the Company is terminated during the Term by reason of Employee’s death or Disability (as defined below), then: (i) the Company shall pay to Employee or his beneficiary or his estate, as the case may be, Employee’s Salary through the Termination Date, (ii) the Company shall pay any unpaid expense reimbursement that might have accrued prior to the Termination Date; and (iii) any securities held in the name of Employee, or any portion thereof, may be exercised to the extent Employee was entitled to do so as of the Termination Date in accordance with the terms of the applicable grant agreements and plan document(s) governing such securities.