Common use of Compensation in Event of Termination Clause in Contracts

Compensation in Event of Termination. Upon termination of the Term for any reason, the Company shall have no further obligation to Executive except to pay the amounts set forth in this Section 9. (a) In the event Executive’s employment is terminated pursuant to Sections 8(a)(i), (ii), (iii) (iv), or (vii) during or at the expiration of the Term, Executive or his estate, conservator or designated beneficiary, as the case may be, shall be entitled to payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits to which Executive is entitled. Following any such termination, neither Executive nor his estate, conservator or designated beneficiary shall be entitled to receive any other payment provided for hereunder with respect to any period after such termination, except as Executive may otherwise be entitled pursuant to any employee benefit plan. (b) In the event Executive’s employment is terminated pursuant to Section 8(a)(v) or (vi) during the Employment Term, Executive shall be entitled to receive, as his sole and exclusive remedy, (x) payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits to which Executive is entitled and (y) a lump sum payment equal to the Annual Salary that Executive would have been entitled to receive had he continued his employment hereunder for the balance of the Term.

Compensation in Event of Termination. Upon termination of the Term ------------------------------------ for any reason, the Company shall have no further obligation to Executive except to pay the amounts set forth in this Section 9. (a) In the event Executive’s 's employment is terminated pursuant to Sections 8(a)(i), (ii), (iii) (iv), or (vii) during or at the expiration of the Term, Executive or his estate, conservator or designated beneficiary, as the case may be, shall be entitled to payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits to which Executive is entitled. Following any such termination, neither Executive nor his estate, conservator or designated beneficiary shall be entitled to receive any other payment provided for hereunder with respect to any period after such termination, except as Executive may otherwise be entitled pursuant to any employee benefit plan. (b) In the event Executive’s 's employment is terminated pursuant to Section 8(a)(v) or (vi) during the Employment Term, Executive shall be entitled to receive, as his sole and exclusive remedy, (x) payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits to which Executive is entitled and (y) a lump sum payment equal to the Annual Salary that Executive would have been entitled to receive had he continued his employment hereunder for the balance of the Term.

Compensation in Event of Termination. Upon termination of the Term for ------------------------------------ any reason, the Company shall have no further obligation to Executive except to pay the amounts set forth in this Section 9. (a) In the event Executive’s 's employment is terminated pursuant to Sections 8(a)(i), (ii), (iii) (iv), or (vii) during or at the expiration of the Term, Executive or his estate, conservator or designated beneficiary, as the case may be, shall be entitled to payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits to which Executive is entitled. Following any such termination, neither Executive nor his estate, conservator or designated beneficiary shall be entitled to receive any other payment provided for hereunder with respect to any period after such termination, except as Executive may otherwise be entitled pursuant to any employee benefit plan. (b) In the event Executive’s 's employment is terminated pursuant to Section 8(a)(v) or (vi) during the Employment Term, Executive shall be entitled to receive, as his sole and exclusive remedy, (x) payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits to which Executive is entitled and (y) a lump sum payment equal to the Annual Salary that Executive would have been entitled to receive had he continued his employment hereunder for the balance of the Term.