Common use of Wrongful Termination Clause in Contracts

Wrongful Termination. If in breach of this Agreement, the -------------------- Company shall terminate Executive's employment other than in the manner allowed pursuant to Section 3 hereof (a purported termination pursuant to Section 3 hereof which is disputed and finally determined not to have been proper shall be a termination by the Company in breach of this Agreement), or if Executive terminates this Agreement for Good Reason, then: (i) the Company shall pay Executive his full Base Salary and any other benefits payable hereunder, such as un-reimbursed relocation or out-of- pocket expenses, through the Date of Termination at the rate in effect at the time Notice of Termination is given; (ii) the company shall continue to reimburse Executive for relocation expenses in accordance with Section 2(b) hereof; (iii) in lieu of any further salary payments to Executive for periods subsequent to the Date of Termination, the Company shall pay as severance pay to Executive an amount equal to twenty-five percent (25%) of the sum of (i) the annual Base Salary at the highest rate in effect during the twelve (12) months immediately preceding the Date of Termination and (ii) the highest annual bonus payments paid or accrued pursuant to this Agreement, with such amount being paid to Executive in substantially equal monthly installments for a three (3) month period following the Date of Termination; and (iv) all stock options granted to the Executive hereunder and from and after the date hereof shall become vested and immediately exercisable in accordance with the plans or plans pursuant to which such options are to be issued. If no stock option plan exists at the time of such termination, Executive shall be able to exercise such options at his discretion within six (6) months of the date of termination of his employment.

Wrongful Termination. If in breach of this Agreement, the -------------------- Company shall terminate ExecutiveEmployee's employment other than in the manner allowed pursuant to Section 3 hereof (a purported termination pursuant to Section 3 hereof which is disputed and finally determined not to have been proper shall be a termination by the Company in breach of this Agreement), or if Executive Employee terminates this Agreement for Good Reason, then: (i) the Company shall pay Executive his Employee her full Base Salary and any other benefits payable hereunder, such as un-reimbursed unreimbursed relocation or out-of- pocket expenses, through the Date of Termination at the rate in effect at the time Notice of Termination is given; (ii) the company Company shall continue to reimburse Executive Employee for relocation expenses in accordance with Section 2(b) hereof; (iii) in lieu of any further salary payments to Executive Employee for periods subsequent to the Date of Termination, the Company shall pay as severance pay to Executive Employee an amount equal to twenty-five percent (25%) of the sum of (i) the annual Base Salary at the highest rate in effect during the twelve (12) months immediately preceding the Date of Termination and (ii) the highest annual bonus payments paid or accrued pursuant to this Agreement, with such amount being paid to Executive Employee in substantially equal monthly installments for a three (3) month period following the Date of Termination; and (iv) all stock options granted to the Executive Employee hereunder and from and after the date hereof shall become vested and immediately exercisable in accordance with the plans or plans pursuant to which such options are to be issued. If no stock option plan exists at the time of such termination, Executive Employee shall be able to exercise such options at his her discretion within six (6) months of the date of termination of his her employment.