Common use of At the End of the Employment Period Clause in Contracts

At the End of the Employment Period. (A) Subject to Section 5(a)(viii)(B) below, if the Employment Period ends pursuant to Section 2(d) hereof, then: (1) The applicable Termination Date shall be the last day of the Employment Period; and (2) Ultra shall provide the Severance Benefits to Executive and shall also pay Executive the sum of (x) any Accrued Obligations as of the Termination Date and (y) the applicable Severance Payment, but shall have no other obligation to pay Executive any other severance or benefits, and Executive shall be entitled to receive the Severance Benefits as well as payment of the Accrued Obligations and the applicable Severance Payment, but Executive shall have no right to any other payments, severance or benefits. (B) If Executive continues to work as an employee of Ultra after the end of the Employment Period, Executive shall thereafter be an “at-will” employee of Ultra and shall forfeit any right or entitlement to any Severance Benefits or Severance Payment.

At the End of the Employment Period. (A) Subject to Section 5(a)(viii)(B5(a)(ix)(B) below, if the Employment Period ends pursuant to Section 2(d) hereof, then: (1) The applicable Termination Date shall be the last day of the Employment Period; and (2) Ultra shall provide the Severance Benefits and the Title Transfer to Executive and shall also pay Executive the sum of (x) any Accrued Obligations as of the Termination Date and (y) the applicable Severance Payment, but shall have no other obligation to pay Executive any other severance or benefits, and Executive shall be entitled to receive the Severance Benefits and the Title Transfer as well as payment of the Accrued Obligations and the applicable Severance Payment, but Executive shall have no right to any other payments, severance or benefits. (B) If Executive continues to work as an employee of Ultra after the end of the Employment Period, Executive shall thereafter be an “at-will” employee of Ultra and shall forfeit any right or entitlement to any Severance Benefits or Severance Payment.