Common use of Base Salary and Bonuses Clause in Contracts

Base Salary and Bonuses. The Company shall pay a lump sum amount within 60 days following termination of employment equal to the sum of the Executive’s full annual base salary at the rate in effect immediately prior to the termination of the employment of the Executive, and the Executive’s short-term and long-term bonuses at target levels pursuant to the Company’s then current Long-Term Incentive Plan, that would have been paid for the period of two (2) years following actual involuntary termination or Constructive Involuntary Termination, if such termination occurs during the period in which this Agreement is in effect (the “Compensation Period”). Benefits paid in accordance with this Subsection 6(a) shall not be reduced in the event the Executive is employed elsewhere during this time period, or by reason of death or disability.