Common use of Date of Termination of Employment Clause in Contracts

Date of Termination of Employment. For purposes of this Agreement, the date of a Termination of Employment shall be (1) if the Termination of Employment is the result of Officer's death, the date of such death, (2) if the Termination of Employment is the result of Officer's Disability, the date on which the notice described in subsection (b)(1) of this Section is received by Officer, (3) if the Termination of Employment is the result of Officer's Normal Retirement, the date specified in the notice described in subsection (b)(2) of this Section, (4) if the Termination of Employment is the result of a dismissal by the Company (but is not the result of Officer's Disability), the date on which the notice described in subsection (b)(3) of this Section is received by the Officer, or such later date as may be specified by the Company in such notice, and (5) if the Termination of Employment is the result of a voluntary action by Officer (but is not the result of Officer's Normal Retirement), the date specified in the notice described in subsection (b)(4) of this Section, or such earlier date as the Company may specify, provided that if such date specified by Company is less than 30 days following the date Company received notice from Employee, then Company agrees to pay officer an amount equal to one-twelfth (1/12) of Officer's Base Salary, which amount shall be paid in cash on the date of such Termination of Employment.

Date of Termination of Employment. For purposes of this Agreement, the date of a Termination of Employment shall be (1) if the Termination of Employment is the result of Officer's death, the date of such death, (2) if the Termination of Employment is the result of Officer's Disability, the date on which the notice described in subsection (b)(1) of this Section is received by Officer, (3) if the Termination of Employment is the result of Officer's Normal Retirement, the date specified in the notice described in subsection (b)(2) of this Section, (4) if the Termination of Employment is the result of a dismissal by the Company (but is not the result of Officer's Disability), the date on which the notice described in subsection (b)(3) of this Section is received by the Officer, or such later date as may be specified by the Company in such notice, and (5) if the Termination of Employment is the result of a voluntary action by Officer (but is not the result of Officer's Normal Retirement), the date specified in the notice described in subsection (b)(4) of this Section, or such earlier date as the Company may specify, provided that if such date specified by Company is less than 30 days following the date Company received notice from Employee, then Company agrees to pay officer Officer an amount equal to one-twelfth (1/12) of the Officer's Base Salary, which amount shall be paid in cash on the date of such Termination of Employment.