Common use of By the Employer Other than for Cause Clause in Contracts

By the Employer Other than for Cause. The Employer may terminate the Executive’s employment at any time, other than for Cause, Death and Disability by (a) paying to the Executive Final Compensation and any Prorated Bonus; and (b) provided the Executive continues to fulfill the remainder of his contractual obligations towards the Employer, by providing the Executive with a written notice of termination of employment of twenty-four months or severance pay in lieu of notice representing the Executive’s Base Salary for twenty-four months, payable by way of salary continuance in accordance with the Employer’s payroll practices at the date of termination or in a lump sum payment, at the sole discretion of the Employer. Any obligation of the Employer to the Executive hereunder is conditional, however, upon the Executive signing a release, reasonably acceptable to the Employer, of any and all claims related to the employment of the Executive or the termination thereof.

By the Employer Other than for Cause. The Employer may terminate the Executive’s employment at any time, other than for Cause, Death and Disability (but only, in the case of Disability, if the Company or its Affiliates then have in effect a Long Term Disability Plan) by (a) paying to the Executive Final Compensation and any Prorated Bonus; and (b) provided the Executive continues to fulfill the remainder of his contractual obligations towards the Employer, by providing the Executive with a written notice of termination of employment of twenty-four months or severance pay in lieu of notice representing the equivalent of the Executive’s Base Salary for twenty-four months, payable by way of salary continuance in accordance with the Employer’s payroll practices at the date of termination or in a lump sum payment, at the sole discretion of the Employer. Any obligation These obligations of the Employer to the Executive hereunder is are conditional, however, upon the Executive signing a release, reasonably acceptable to the Employer, of any and all claims related to the employment of the Executive or the termination thereof.