Common use of CIC Termination Clause in Contracts

CIC Termination. In lieu of the payments and benefits described in Section 6(b) above, and in addition to any accelerated vesting pursuant to Section 3(c)(2), in the event the Executive’s employment is terminated by the Company without Cause or by the Executive for Good Reason within the two (2) year period following a Change in Control, or if there is a Termination in Anticipation of a Change in Control (any such termination, a “CIC Termination”), the Executive shall be entitled to (i) the Accrued Amounts, payable within thirty (30) days following termination of employment; (ii) any earned but unpaid Annual Bonus for the preceding fiscal year, payable within thirty (30) days following termination of employment; (iii) the Health Continuation Benefit; (iv) an amount equal to the sum of (A) twenty-four (24) months Base Salary and (B) two times (2x) the Target Bonus; and (v) the remainder of any Declared Cash Bonus that would otherwise have been paid had the Executive’s employment not terminated, paid within thirty (30) days following the date of such CIC Termination subject in each case to the Executive’s compliance with the Conditions. The payments described in clauses (iv) and (v) above shall be in lump sum unless the Change in Control does not qualify as a 409A Change in Control or is otherwise prohibited by Section 409A of the Code, in which case such payments shall be payable in equal installments over a period of twelve (12) months. For purposes of this Agreement: