Base Salary and Bonus Payments. For the remainder of the Term (as determined without regard to its earlier termination pursuant to Section 4.1(a) or 4.2 and, if such termination date is on or after the second anniversary of the Effective Date, without any extension of the Term after such termination date) or until Employee's death, if earlier (the "Continuation Period"), the Company shall pay to Employee, at the regularly scheduled times, the sum of the Base Salary (as in effect on the date on which the relevant Notice of Termination is given in accordance with this Agreement) and pay or vest the Bonus Payment as applicable within sixty (60) days of the Qualifying Termination. The "Bonus Payment" shall be an amount (A) for the Short Term Incentive Plan, equal to the excess of the actual EBITDA compared to the budgeted EBITDA to the month end accounting period nearest to the date of the Qualifying Termination (the "Short Incentive Term") times 15% times the Employee's Percentage of Incentive as indicated on Exhibit A attached hereto and (B) for the Long Term Incentive Plan, the Employee will vest immediately in the number of Common Units equal to the Employee's Percentage of Incentive as indicated on Exhibit A hereto times the total Common Units at the Minimum Award level (250,000) to the extent not previously awarded. The amount payable to Employee under this paragraph (a) is in lieu of, and not in addition to, any severance payment due or to become due to Employee under any separate agreement or contract between Employee and the Company or pursuant to any severance payment plan, program or policy of the Company or any affiliate (collectively, "Severance Plan"). Any severance amounts received by Employee under a Severance Plan shall be applied
Base Salary and Bonus Payments. This Agreement shall terminate upon the death, Total Disability, as hereinafter defined, or termination of employment of the Executive. The Corporation shall pay to the Executive, any person designated in writing or if no such person is designated, to his estate, as the case may be, the aggregate amount of the Base Salary up to the end of the month in which death or termination of employment occurs. In the event of either death or a Total Disability, the Executive or his estate, as the case may be, shall continue to receive his Base Salary for the remaining term of this Agreement; provided, however, that (i) in the case of death, to the extent any proceeds in excess of $1,000,000 from a key man life insurance owned by the Corporation on the life of the Executive are paid to the Executive’s estate and (ii) in the case of a Total Disability, to the extent any proceeds from a disability insurance policy owned by the Corporation are paid to the Executive or his designee, the Corporation shall receive a credit against its salary payment obligations in an amount equal to the insurance proceeds paid to the Executive, his designee or his estate. In addition to the Base Salary, the Executive, his designee or his estate shall be paid an amount equal to the product of (i) the Guaranteed Bonus for such year in which death, Total Disability or termination of employment occurred and (ii) a fraction, the numerator of which are the number of months during the year of such death, Total Disability or termination of employment during which the Executive was employed by the Corporation through and including the month of his death, Total Disability or termination of employment, and the denominator of which is twelve (12).
Base Salary and Bonus Payments. This Agreement ------------------------------ shall terminate upon the death, Total Disability, as hereinafter defined, or termination of employment of the Executive. The Corporation shall pay to the Executive, any person designated in writing or if no such person is designated, to his estate, as the case may be, the aggregate amount of the Base Salary up to the end of the month in which death or termination of employment occurs. In the event of either death or a Total Disability, the Executive or his estate shall continue to receive his Base Salary for the remaining term of this Agreement. In addition to the Base Salary, the Executive, his designee or his estate shall be paid an amount equal to the product of (i) the Bonus, for such year in which death, Total Disability or termination of employment occurred and (ii) a fraction, the numerator of which are the number of months during the year of such death, Total Disability or termination of employment during which the Executive was employed by the Corporation through and including the month of his death, Total Disability or termination of employment, and the denominator of which is twelve (12).
Base Salary and Bonus Payments. This Agreement shall ------------------------------ terminate upon the death, Total Disability, as hereinafter defined, or termination of employment of the Executive. The Corporation shall pay to the Executive, any person designated in writing or if no such person is designated, to his estate, as the case may be, 4 the aggregate amount of the Base Salary up to the end of the month in which death, Total Disability, or termination of employment occurs. In addition to Base Salary, and in the event Executive is not terminated For Cause, as hereinafter defined, in the event the Executive shall be entitled to a Bonus, then the Executive, his designee or his estate shall be paid within thirty (30) days after the Corporation's accountants have determined the Net Sales and Net After Tax Profits of the Corporation, an amount equal to the product of (i) the Bonus, for such fiscal year in which death, Total Disability or termination of employment occurred and (ii) a fraction, the numerator of which is the number of months during the year of such death, Total Disability or termination of employment during which the Executive was employed by the Corporation through and including the month of his death, Total Disability or termination of employment, and the denominator of which is twelve (12).
