Document ID: 11246

Text:
(3) In the event the Term is terminated pursuant to Subsection 6.B.(1)or 6.B.(2), or in the event that the Term is terminated at the end of the Initial Term or a Renewal Term in connection with the Company providing the Executive with a Notice of Non-Renewal effective in connection with the expiration of the Initial Term or a Renewal Term, the Company shall pay the Executive as a severance benefit a lump sum cash severance payment in an amount equal to 100% of the Executives then existing annual Base Salary (i.e., twelve (12) months of Base Salary) (the Severance Payment) plus Base Salary and Annual Bonus (if any) earned and accrued prior to termination. In addition, if and to the extent the Executive timely elects to continue her health insurance employee benefits pursuant to COBRA, then the Company will pay the Executive for a period of 18 months , commencing with the payroll date on or following the 63rd day after the last day of her employment with the Company, subject to the effectiveness of the Release (as defined below) a monthly amount, payable in accordance with the Companys regular payroll practices, equal to the applicable COBRA costs, subject to applicable tax withholdings (the Supplemental Payments). The Severance Payment shall be paid within 10 days following the effectiveness of the Release (as defined below); provided, however, that if necessary to comply with the restriction in Section 409A(a)(2)(B) of the Internal Revenue Code of 1986, as amended (the Code) concerning payments to specified employees, to the extent applicable, such payment shall be delayed until the first business day of the seventh month following the Executives termination of employment and separation from service (within the meaning of Section409A of the Code). Notwithstanding any provisions of the stock option plan or stock option agreement pursuant to which any stock options were granted to the Executive, the Executive shall be entitled to exercise her vested equity awards until one year from the date of termination of employment or the expiration of the stated period of the vested equity award, whichever period is the shorter.

Named Entities:
98
99
Percentage
166
166
Act
234
234
Act
295
299
Act
358
360
Title
362
364
Title
389
390
TerminationDate

Tokenized Text:
(
3
)
In
the
event
the
Term
is
terminated
pursuant
to
Subsection
6
.
B
.
(
1
)
or
6
.
B
.
(
2
)
,
or
in
the
event
that
the
Term
is
terminated
at
the
end
of
the
Initial
Term
or
a
Renewal
Term
in
connection
with
the
Company
providing
the
Executive
with
a
Notice
of
Non-Renewal
effective
in
connection
with
the
expiration
of
the
Initial
Term
or
a
Renewal
Term
,
the
Company
shall
pay
the
Executive
as
a
severance
benefit
a
lump
sum
cash
severance
payment
in
an
amount
equal
to
100
%
of
the
Executives
then
existing
annual
Base
Salary
(
i
.
e
.
,
twelve
(
12
)
months
of
Base
Salary
)
(
the
Severance
Payment
)
plus
Base
Salary
and
Annual
Bonus
(
if
any
)
earned
and
accrued
prior
to
termination
.
In
addition
,
if
and
to
the
extent
the
Executive
timely
elects
to
continue
her
health
insurance
employee
benefits
pursuant
to
COBRA
,
then
the
Company
will
pay
the
Executive
for
a
period
of
18
months
,
commencing
with
the
payroll
date
on
or
following
the
63rd
day
after
the
last
day
of
her
employment
with
the
Company
,
subject
to
the
effectiveness
of
the
Release
(
as
defined
below
)
a
monthly
amount
,
payable
in
accordance
with
the
Companys
regular
payroll
practices
,
equal
to
the
applicable
COBRA
costs
,
subject
to
applicable
tax
withholdings
(
the
Supplemental
Payments
)
.
The
Severance
Payment
shall
be
paid
within
10
days
following
the
effectiveness
of
the
Release
(
as
defined
below
)
;
provided
,
however
,
that
if
necessary
to
comply
with
the
restriction
in
Section
409A
(
a
)
(
2
)
(
B
)
of
the
Internal
Revenue
Code
of
1986
,
as
amended
(
the
Code
)
concerning
payments
to
specified
employees
,
to
the
extent
applicable
,
such
payment
shall
be
delayed
until
the
first
business
day
of
the
seventh
month
following
the
Executives
termination
of
employment
and
separation
from
service
(
within
the
meaning
of
Section409A
of
the
Code
)
.
Notwithstanding
any
provisions
of
the
stock
option
plan
or
stock
option
agreement
pursuant
to
which
any
stock
options
were
granted
to
the
Executive
,
the
Executive
shall
be
entitled
to
exercise
her
vested
equity
awards
until
one
year
from
the
date
of
termination
of
employment
or
the
expiration
of
the
stated
period
of
the
vested
equity
award
,
whichever
period
is
the
shorter
.