Common use of Continued Payments Clause in Contracts

Continued Payments. If the Company terminates this Agreement for any reason other than for Cause, or Executive terminates this Agreement for Good Reason and in accordance with Section 3.3, then in lieu of any other payments otherwise required hereunder, the Company shall, subject to Executive's compliance with Sections 5, 6, 7 and 8 hereof, pay Executive, as liquidated damages and not as a penalty, (a) within fifteen (15) days after the termination date, all accrued and unpaid salary and benefits (including accrued but unused vacation time) through the termination date and (b) the lesser of (i) an amount equal to his salary payments at the time of the termination, in accordance with the Company's then payment policy, and benefits provided for herein during the six-month period following the termination date, and (ii) the entire amount of the salary remaining due and payable from the date of such termination to the scheduled expiration of this Agreement; provided, however, that if such termination occurs prior to the first anniversary of the Effective Date, then in addition to items (a) and (b) above, Executive shall be entitled to continue to receive, in accordance with the Company's then payment policy, an amount equal to his salary payments and, to the extent Executive is not otherwise employed, health benefits, until the first anniversary of the Effective Date. In the event that this Agreement is terminated due to the death or disability of Executive, Company shall pay to Executive a portion of any bonus otherwise payable to Executive in accordance with Section 2.2 hereof, prorated to reflect any early termination of this Agreement relative to the performance period to which the bonus relates.

Continued Payments. If the Company terminates this Agreement for any reason other than for Cause, or Executive terminates this Agreement for Good Reason and in accordance with Section 3.3, then in lieu of any other payments otherwise required hereunder, the Company shall, subject to Executive's ’s compliance with Sections 5, 6, 7 and 8 hereof, pay Executive, as liquidated damages and not as a penalty, (a) within fifteen (15) days after the termination date, all accrued and unpaid salary and benefits (including accrued but unused vacation time) through the termination date and (b) the lesser of (i) an amount equal to his salary payments at the time of the termination, in accordance with the Company's ’s then payment policy, and benefits provided for herein during the six-month period following the termination date, and (ii) the entire amount of the salary remaining due and payable from the date of such termination to the scheduled expiration of this Agreement; provided, however, that if such termination occurs prior to the first anniversary of the Effective Date, then in addition to items (a) and (b) above, Executive shall be entitled to continue to receive, in accordance with the Company's ’s then payment policy, an amount equal to his salary payments and, to the extent Executive is not otherwise employed, health benefits, until the first anniversary of the Effective Date. In the event that this Agreement is terminated due to the death or disability of Executive, Company shall pay to Executive a portion of any bonus otherwise payable to Executive in accordance with Section 2.2 hereof, prorated to reflect any early termination of this Agreement relative to the performance period to which the bonus relates.

Continued Payments. If I f the Company terminates this Agreement for any reason other than for Cause, or Executive terminates this Agreement for Good Reason and in accordance with Section 3.3, then in lieu of any other payments otherwise required hereunder, the Company shall, subject to Executive's compliance with Sections 5, 6, 7 and 8 hereof, pay Executive, as liquidated damages and not as a penalty, (a) within fifteen (15) days after the termination date, all accrued and unpaid salary and benefits (including accrued but unused vacation time) through the termination date and (b) the lesser of (i) an amount equal to his salary payments at the time of the termination, in accordance with the Company's then payment policy, and benefits provided for herein during the six-month period following the termination date, and (ii) the entire amount of the salary remaining due and payable from the date of such termination to the scheduled expiration of this Agreement; provided, however, that if such termination occurs prior to the first anniversary of the Effective Date, then in addition to items (a) and (b) above, Executive shall be entitled to continue to receive, in accordance with the Company's then payment policy, an amount equal to his salary payments and, to the extent Executive is not otherwise employed, health benefits, until the first anniversary anniversary. of the Effective Date. In the event that this Agreement is terminated due to the death or disability of Executive, Company shall pay to Executive a portion of any bonus otherwise payable to Executive in accordance with Section 2.2 hereof, prorated to reflect any early termination of this Agreement relative to the performance period to which the bonus relates.