Document ID: 10708

Text:
immediately prior to the Termination Date in equal installments on the Companys regular payment dates occurring during the 6-month period beginning on the first payroll date following the date on which the Release has become effective, (B)an amount equal to 50% of the Executives Target Annual Bonus Opportunity, payable on the first payroll date following the date on which the Release has become effective and (C)a prorated portion of the Executives actual Annual Bonus, determined in accordance with Section2.2 and payable at the same time as annual bonuses are paid to other senior executives of the Company, with the prorated Annual Bonus determined by multiplying the actual Annual Bonus, if any, by a fraction, the numerator of which is the number of days the Executive is employed by the Company during the applicable year and the denominator of which is 365 ((A), (B)and (C)collectively, the Severance Amount). In addition, the Company shall, subject to the Executive electing COBRA , provide the Executive with continued medical and dental insurance coverage until the earlier of the date that is six months immediately following the Termination Date and the date upon which the Executive becomes eligible for medical and dental insurance coverage from a new employer, with such insurance coverage to be provided at the same cost to the Executive as to similarly situated executives of the Company during such period (Benefits Continuation). The Company shall also reimburse the Executive for outplacement assistance during the 6-month period beginning on the Termination Date, with any such reimbursement to be consistent with Section2.5 of this Employment Agreement and in no event shall the aggregate reimbursement of outplacement services for the Executive exceed $15,000. The Companys obligations to pay the Severance Amount, pay premiums relating to Benefits Continuation and provide outplacement assistance shall be conditioned upon: (i)the Executives continued compliance with his obligations under Section4 of this Employment Agreement and (ii)the Executives execution, delivery and non-revocation of a valid and enforceable general release of claims (the Release) substantially in the form attached hereto as ExhibitA, within 45 days after the Executives Termination Date.

Named Entities:
44
45
Percentage
188
188
Act
298
299
Title
315
318
Salary

Tokenized Text:
immediately
prior
to
the
Termination
Date
in
equal
installments
on
the
Companys
regular
payment
dates
occurring
during
the
6-month
period
beginning
on
the
first
payroll
date
following
the
date
on
which
the
Release
has
become
effective
,
(
B
)
an
amount
equal
to
50
%
of
the
Executives
Target
Annual
Bonus
Opportunity
,
payable
on
the
first
payroll
date
following
the
date
on
which
the
Release
has
become
effective
and
(
C
)
a
prorated
portion
of
the
Executives
actual
Annual
Bonus
,
determined
in
accordance
with
Section2
.
2
and
payable
at
the
same
time
as
annual
bonuses
are
paid
to
other
senior
executives
of
the
Company
,
with
the
prorated
Annual
Bonus
determined
by
multiplying
the
actual
Annual
Bonus
,
if
any
,
by
a
fraction
,
the
numerator
of
which
is
the
number
of
days
the
Executive
is
employed
by
the
Company
during
the
applicable
year
and
the
denominator
of
which
is
365
(
(
A
)
,
(
B
)
and
(
C
)
collectively
,
the
Severance
Amount
)
.
In
addition
,
the
Company
shall
,
subject
to
the
Executive
electing
COBRA
,
provide
the
Executive
with
continued
medical
and
dental
insurance
coverage
until
the
earlier
of
the
date
that
is
six
months
immediately
following
the
Termination
Date
and
the
date
upon
which
the
Executive
becomes
eligible
for
medical
and
dental
insurance
coverage
from
a
new
employer
,
with
such
insurance
coverage
to
be
provided
at
the
same
cost
to
the
Executive
as
to
similarly
situated
executives
of
the
Company
during
such
period
(
Benefits
Continuation
)
.
The
Company
shall
also
reimburse
the
Executive
for
outplacement
assistance
during
the
6-month
period
beginning
on
the
Termination
Date
,
with
any
such
reimbursement
to
be
consistent
with
Section2
.
5
of
this
Employment
Agreement
and
in
no
event
shall
the
aggregate
reimbursement
of
outplacement
services
for
the
Executive
exceed
$
15
,
000
.
The
Companys
obligations
to
pay
the
Severance
Amount
,
pay
premiums
relating
to
Benefits
Continuation
and
provide
outplacement
assistance
shall
be
conditioned
upon
:
(
i
)
the
Executives
continued
compliance
with
his
obligations
under
Section4
of
this
Employment
Agreement
and
(
ii
)
the
Executives
execution
,
delivery
and
non-revocation
of
a
valid
and
enforceable
general
release
of
claims
(
the
Release
)
substantially
in
the
form
attached
hereto
as
ExhibitA
,
within
45
days
after
the
Executives
Termination
Date
.