Common use of Benefits Payable Under Termination Clause in Contracts

Benefits Payable Under Termination. (i) In the event of the Executive’s death during the Employment Period or a Termination due to Disability, the Company shall provide the Executive or the Executive’s beneficiaries or legal representatives with the Unconditional Entitlements, including, but not limited to, any such Unconditional Entitlements that are or become payable under any Company plan, policy, practice or program or any contract or agreement with the Company by reason of the Executive’s death or Termination due to Disability. (ii) In the event of the Executive’s Termination for Cause, the Company shall provide the Executive with the Unconditional Entitlements. (iii) In the event of a Termination for Good Reason or the exercise by the Company of its Termination Right, the Company shall provide the Executive with: (A) the Unconditional Entitlements; and (B) the Conditional Benefits, provided that the Executive delivers to the Company and does not revoke a general release of claims in favor of the Company, mBank and certain related parties in substantially the form attached hereto as EXHIBIT A. Such release shall be executed and delivered by the Executive within thirty (30) days following the Termination Date, and may be revoked by the Executive within seven (7) days following delivery of such release (the “Effective Release Date”). In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced by any compensation earned by the Executive as a result of employment by a subsequent employer.

Benefits Payable Under Termination. (i) In the event of the Executive’s death during the Employment Period or a Termination due to Disability, the Company shall provide the Executive or the Executive’s beneficiaries or legal representatives with the Unconditional Entitlements, including, but not limited to, any such Unconditional Entitlements that are or become payable under any Company plan, policy, practice or program or any contract or agreement with the Company by reason of the Executive’s death or Termination due to Disability. (ii) In the event of the Executive’s Termination for Cause, the Company shall provide the Executive with the Unconditional Entitlements. (iii) In the event of a Termination for Good Reason or the exercise by the Company of its Termination Right, the Company shall provide the Executive with: (A) the Unconditional Entitlements; and (B) the Conditional Benefits, provided that the Executive delivers to the Company and does not revoke a general release of claims in favor of the Company, mBank and certain related parties in substantially the form attached hereto as EXHIBIT Exhibit A. Such release shall be executed and delivered by the Executive within thirty (30) days following the Termination Date, and may be revoked by the Executive within seven (7) days following delivery of such release (the “Effective Release Date”). In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced by any compensation earned by the Executive as a result of employment by a subsequent employer.