Common use of Effect of Termination Prior To Change In Control Clause in Contracts

Effect of Termination Prior To Change In Control. (a) In the event Employee's employment is terminated for Cause pursuant to Section 5.1(a) or should the Employee terminate his employment pursuant to Section 5.2, the Corporation shall pay to Employee the compensation and benefits otherwise payable to him under Section 2 through the last day of his actual employment by the Corporation. (b) Should Employee's employment be terminated by the Corporation pursuant to Section 5.1(c), the Employee shall be entitled to salary continuance for the longer of the balance of the Term of this Agreement or one year from the date of the termination of his employment at his then-applicable salary level until such time as Employee engages in other employment, after which Employee shall receive the difference, if any, between his salary level with the Corporation and his new salary. This provision shall survive the expiration of the Term of this Agreement and shall become void only upon a Change in Control as set forth in paragraph 6 of this Agreement. (c) If Employee's employment is terminated by death or because of Disability pursuant to Section 5.1(b), the Corporation shall pay to the estate of the Employee or to Employee, as the case may be, the compensation and benefits which would otherwise be payable to Employee up to the end of the month in which the termination of his employment because of death or Disability occurs.

Effect of Termination Prior To Change In Control. (a) In the event Employee's ’s employment is terminated for Cause pursuant to Section 5.1(a) or should the Employee terminate his employment pursuant to Section 5.2, the Corporation shall pay to Employee the compensation and benefits otherwise payable to him under Section 2 through the last day of his actual employment by the Corporation. (b) Should Employee's ’s employment be terminated by the Corporation pursuant to Section 5.1(c), the Employee shall be entitled to salary continuance for the longer of the balance of the Term of this Agreement or one year from the date of the termination of his employment at his then-applicable salary level until such time as Employee engages in other employment, after which Employee shall receive the difference, if any, between his salary level with the Corporation and his new salary. This provision shall survive the expiration of the Term of this Agreement and shall become void only upon a Change in Control as set forth in paragraph 6 of this Agreement. (c) If Employee's ’s employment is terminated by death or because of Disability pursuant to Section 5.1(b), the Corporation shall pay to the estate of the Employee or to Employee, as the case may be, the compensation and benefits which would otherwise be payable to Employee up to the end of the month in which the termination of his employment because of death or Disability occurs.

Effect of Termination Prior To Change In Control. (a) In the event Employee's employment is terminated for Cause pursuant to Section 5.1(a) or should the Employee terminate his employment pursuant to Section 5.2, the Corporation shall pay to Employee the compensation and benefits otherwise payable to him under Section 2 through the last day of his actual employment by the Corporation. (b) Should Employee's employment be terminated by the Corporation pursuant to Section 5.1(c), the Employee shall be entitled to salary continuance for the longer of the balance of the Term of this Agreement or one year from the date of the termination of his employment at his then-applicable salary level until such time as Employee engages in other employment, after which Employee shall receive the difference, if any, between his salary level with the Corporation and his new salary. This provision shall survive the expiration of the Term of this Agreement and shall become void only upon a Change in Control as set forth in paragraph 6 of this Agreement. (c) If Employee's employment is terminated by death or because of Disability pursuant to Section 5.1(b5.+1(b), the Corporation shall pay to the estate of the Employee or to Employee, as the case may be, the compensation and benefits which would otherwise be payable to Employee up to the end of the month in which the termination of his employment because of death or Disability occurs.