Common use of Upon a Change of Control Clause in Contracts

Upon a Change of Control. i. If a Change of Control occurs and if on the date of, or within one year following, such Change of Control (a "Change of Control Period"), the Company terminates Employee's employment with the Company other than for Cause or Employee terminates his employment with the Company for Good Reason and, in either event, Employee executes the Employee Release and does not revoke the same within the period stated in the Employee Release, then, in lieu of any payments to or on behalf of Employee under Section 5.c or 5.e, the Company (A) shall pay Employee, within ten (10) business days after such termination, a lump sum payment equal to two times the greater of (i) the sum of the Base Salary and the amount of any Bonus paid or payable during the remainder of the Term or (ii) the sum of the Base Salary and the amount of any Bonus paid or payable to Employee during the twelve (12) months preceding the month during which such termination occurs and (B) shall pay the full cost of Employee's continued participation in the Company's group health and dental insurance plans for so long as Employee remains entitled to continue such participation under COBRA or any successor law and the applicable plan terms.

Appears in 4 contracts

Samples: Employment Agreement (FTP Software Inc), Employment Agreement (FTP Software Inc), Employment Agreement (FTP Software Inc)

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Upon a Change of Control. i. If a Change of Control occurs and if on the date of, or within one year following, such Change of Control (a "Change of Control Period"), the Company terminates Employee's employment with the Company other than for Cause or Employee terminates his employment with the Company for Good Reason and, in either event, Employee executes the Employee Release and does not revoke the same within the period stated in the Employee Release, then, in lieu of any payments to or on behalf of Employee under Section 5.c or 5.e, the Company (A) shall pay Employee, within ten (10) business days after such termination, a lump sum payment equal to two times the greater of (i) the sum of the Base Salary and the amount of any Bonus paid or payable during the remainder of the Term or (ii) the sum of the Base Salary and the amount of any Bonus paid or payable to Employee during the twelve (12) months preceding the month during which such termination occurs and (B) shall pay the full cost of Employee's continued participation in the Company's group health and dental insurance plans for so long as Employee remains entitled to continue such participation under COBRA or any successor law and the applicable plan terms.

Appears in 2 contracts

Samples: Employment Agreement (FTP Software Inc), Employment Agreement (FTP Software Inc)

Upon a Change of Control. i. If a Change of Control occurs and if on the date of, or within one year following, such Change of Control (a "Change of Control Period"), the Company terminates Employee's employment with the Company other than for Cause or Employee terminates his employment with the Company for Good Reason and, in either event, Employee executes the Employee Release and does not revoke the same within the period stated in the Employee Release, then, in lieu of any payments to or on behalf of Employee under Section 5.c or 5.e, the Company (A) shall pay Employee, within ten (10) business days after such termination, a lump sum payment equal to two times the greater of (i) the sum of the Base Salary and the amount of any Bonus paid or payable during the remainder of the Term or (ii) the sum of the Base Salary and the amount of any Bonus paid or payable to Employee during the twelve (12) months preceding the month during which such termination occurs and (B) shall pay the full cost of Employee's continued participation in the Company's group health and dental insurance plans for so long as Employee remains entitled to continue such participation under COBRA or any successor law and the applicable plan terms.

Appears in 1 contract

Samples: Employment Agreement (FTP Software Inc)

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Upon a Change of Control. i. If a Change of Control occurs and if on the date of, or within one year following, such Change of Control (a "Change of Control Period"), the Company terminates Employee's employment with the Company other than for Cause or Employee terminates his employment with the Company for Good Reason and, in either event, Employee executes the Employee Release and does not revoke the same within the period stated in the Employee Release, then, in lieu of any payments to or on behalf of Employee under Section 5.c or 5.e, the Company (A) shall pay Employee, within ten (10) business days after such termination, a lump sum payment equal to two times the greater of (i) the sum of the Base Salary and the amount of any Bonus paid or payable during the remainder of twelve (12) months following the Term month during which such termination occurs or (ii) the sum of the Base Salary and the amount of any Bonus paid or payable to Employee during the twelve (12) months preceding the month during which such termination occurs and (B) shall pay the full cost of Employee's continued participation in the Company's group health and dental insurance plans for so long as Employee remains entitled to continue such participation under COBRA or any successor law and the applicable plan terms.

Appears in 1 contract

Samples: Employment Agreement (FTP Software Inc)

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