Termination by the Company without Cause Following Change in Control. If this Agreement is terminated by the Company without Cause within twelve (12) months following a Change in Control, subject to the release requirement set forth in paragraph (a) above, the Company shall provide you with the following severance benefits in lieu of any benefits under paragraph (a) above: (1) continuation of your base salary less payroll deductions and withholding for a period of nine (9) months; (2) continued payment, or reimbursement, as the case may be, of your COBRA premiums at the rate in effect upon termination for a period of nine (9); and (3) a pro-rated portion of the annual bonus you otherwise would have earned for the year in which termination occurs, if any, based upon actual performance for such year.
Appears in 2 contracts
Sources: Offer of Employment, Offer of Employment (Verona Pharma PLC)