Common use of Amounts Payable Upon Termination Clause in Contracts

Amounts Payable Upon Termination. Upon termination of the Employee’s employment with the Company in accordance with clause (b), (d) or (e) of Section 7.1, all compensation and benefits under this Agreement will cease, effective the date of termination. Upon termination of the Employee’s employment with the Company in accordance with clause (a) and (c) of Section 7.1, all compensation under Sections 5.1 through 5.7 shall cease, effective upon the date of termination; provided, however, that if (i) the Employee executes a release in favor of the Company substantially in the form annexed hereto as Exhibit A not later than 30 days after such termination and (ii) the period in which the Employee is entitled to revoke such release has expired without any such revocation, then, beginning on the 45th day after the date of such termination, the Employee shall continue to receive, for a period of three months from the date of Employee’s notice of termination given pursuant to Section 7.1(c) the following: (i) Base Salary, paid at the same salary rate being paid on the date of termination, in accordance with the Company’s regular payroll practices (with the first such payment including all amounts due from the date of termination through the date of such first payment), and (ii) the benefits described in Section 6. Other than as specifically set forth in Sections 6.2, 7.1, and this Section 7.4, the Employee will not be entitled to receive any compensation or benefits after termination of his employment with the Company.

Amounts Payable Upon Termination. Upon termination of the Employee’s employment with the Company in accordance with clause (b), (d) or (e) of Section 7.1, all compensation and benefits under this Agreement will cease, effective the date of termination. Upon termination of the Employee’s employment with the Company in accordance with clause (a) and (c) of Section 7.1, all compensation under Sections 5.1 through 5.7 shall cease, effective upon the date of termination; provided, however, that if (i) the Employee executes a release in favor of the Company substantially in the form annexed hereto as Exhibit A not later than 30 days after such termination and (ii) the period in which the Employee is entitled to revoke such release has expired without any such revocation, then, beginning on the 45th day after the date of such termination, the Employee shall continue to receive, for a period of three six months from the date of Employee’s notice of termination given pursuant to Section 7.1(c) the following: (i) Base Salary, paid at the same salary rate being paid on the date of termination, in accordance with the Company’s regular payroll practices (with the first such payment including all amounts due from the date of termination through the date of such first payment), and (ii) the benefits described in Section 6. Other than as specifically set forth in Sections 6.2, 7.1, and this Section 7.4, the Employee will not be entitled to receive any compensation or benefits after termination of his employment with the Company.

Amounts Payable Upon Termination. Upon termination of the Employee’s employment with the Company in accordance with clause (b), (d) or (e) of Section 7.1, all compensation and benefits under this Agreement will cease, effective the date of termination. Upon termination of the Employee’s employment with the Company in accordance with clause (a) and (c) of Section 7.1, all compensation under Sections 5.1 through 5.7 shall cease, effective upon the date of termination; provided, however, that if (i) the Employee executes a release in favor of the Company substantially in the form annexed hereto as Exhibit A not later than 30 days after such termination and (ii) the period in which the Employee is entitled to revoke such release has expired without any such revocation, then, beginning on the 45th day after the date of such termination, the Employee shall continue to receive, for a period of three nine months from the date of Employee’s notice of termination given pursuant to Section 7.1(c) the following: (i) Base Salary, paid at the same salary rate being paid on the date of termination, in accordance with the Company’s regular payroll practices (with the first such payment including all amounts due from the date of termination through the date of such first payment), and (ii) the benefits described in Section 6. Other than as specifically set forth in Sections 6.2, 7.1, and this Section 7.4, the Employee will not be entitled to receive any compensation or benefits after termination of his employment with the Company.