Common use of Corporate Dissolution Clause in Contracts

Corporate Dissolution. This Agreement and Employee’s employment hereunder shall terminate in the event of the termination of the business or corporate existence of the Corporation. In the event of any such termination by Corporation, Corporation shall be obligated to continue to pay Employee (i) the Base Salary due Employee under this Agreement up to Employee’s termination date; and (ii) Severance Pay as defined below.

Corporate Dissolution. This Agreement and Employee’s employment hereunder shall terminate in the event of the termination of the business or corporate existence of the Corporation. In the event of any such termination by Corporation, Corporation shall be obligated to continue to pay Employee (i) the Base Salary due Employee under this Agreement up to Employee’s termination date; and (ii) Severance Pay as defined below.

Corporate Dissolution. This Agreement and Employee’s employment hereunder shall terminate in the event of the termination of the business or corporate existence of the CorporationCorporation or Parent. In the event of any such termination by Corporationtermination, Corporation shall be obligated to continue to pay Employee (i) the Base Salary due Employee under this Agreement up to Employee’s termination date; (ii) any accrued, but unused vacation time as specified in Section 5(E); and (iiiii) Severance Pay as defined below.

Corporate Dissolution. This Agreement and EmployeeExecutive’s employment hereunder shall terminate in the event of the termination of the business or corporate existence of the Corporation. In the event of any such termination by Corporation, Corporation shall be obligated to continue to pay Employee Executive (i) the Base Salary due Employee Executive under this Agreement up to EmployeeExecutive’s termination date; and (ii) Severance Pay as defined below.