Termination of Employment Responsibilities. Employee agrees that her employment with the Company will terminate on the “Termination Date”, thereby terminating as of that date all further obligations of the Company to Employee, of whatever kind and nature, including all forms of compensation and benefits that otherwise might have been owed to Employee due to her holding any employment with the Company, except those that are expressly identified in this Agreement. Employee further agrees, as of the Termination Date, to resign from her position as an officer of the Company, and as an officer and a director of any subsidiary or affiliate of the Company, and Employee agrees to complete and submit any documentation necessary to resign such positions. Through the Termination Date, Employee shall perform such duties as shall be assigned to her by the Company, to the best of her abilities. Employee acknowledges that except as provided in Paragraph 2 below and Exhibit 1 hereto, she is not entitled to any payments or benefits under any employee benefit plan, arrangement, policy, agreement or other arrangement of the Company (collectively, “Plans”) following her termination of employment.
Termination of Employment Responsibilities. Employee agrees that her employment with the Company will terminate effective at the close of business on the last day of the six week period (the “Termination Date”) following the initial date (the “Transition Commencement Date”) that a successor Chief Executive Officer is employed by the Company. All further obligations of the Company to Employee, of whatever kind and nature, including all forms of compensation and benefits that otherwise might have been owed to Employee due to her holding any employment with the Company, except those that are expressly identified in this Agreement will terminate as of the Termination Date. Employee further agrees, as of the Transition Commencement Date, to resign from her position as an officer of the Company, and as an officer and a director of any subsidiary or affiliate of the Company, and Employee agrees to complete and submit any documentation necessary to resign such positions. Through the Termination Date, Employee shall perform such duties as shall be assigned to her by the Company, to the best of her abilities; provided that, the Non-Executive Chairman of the Company will determine whether Employee will continue to maintain an office at the Company’s premises for the duration of the six week transition period. Employee may continue to refer to herself as the Founder of the Company through and following the Termination Date. Employee acknowledges that except as provided in Paragraph 2 below and Exhibit 1 hereto, she is not entitled to any payments or benefits under any employee benefit plan, arrangement, policy, agreement or other arrangement of the Company (collectively, “Plans”) following her termination of employment. Notwithstanding anything herein to the contrary, Employee shall remain as a director serving on the Board of Directors of the Company following the Termination Date for her current term in such capacity, subject to her earlier resignation or removal, all in accordance with the Company’s certificate of incorporation, bylaws and applicable law. Notwithstanding anything herein to the contrary or any other arrangement to the contrary, for such period as Employee is receiving any separation pay hereunder, Employee shall not receive any compensation under any compensation program for non-management directors or otherwise for her service as a director on the Board of Directors of the Company following the Termination Date.
