Common use of Eligibility for Termination Benefits Clause in Contracts

Eligibility for Termination Benefits. (a) Subject to paragraph (d) of Paragraph Third, if Employee's employment with the Corporation is terminated by the Corporation without just cause, Employee shall receive such benefits hereunder ("Termination Benefits") as determined in accordance with Paragraph Third, provided Employee, if requested, remains in the employment of the Corporation for a period not exceeding 60 days following receipt of a written notice of such termination. For purposes of this Agreement, termination of Employee's employment by the Corporation shall constitute a termination for "just cause" only if such termination is for one of the following reasons: (i) conviction of a felony punishable by a prison sentence of more than one year; (ii) habitual use of alcohol to the extent that any of such uses materially interferes with Employee's performance of his duties; (iii) refusal or failure, after notice, by Employee to perform or discharge duties and responsibilities appropriate to his position, which refusal or failure amounts to an extended and gross neglect of his duties to the Corporation; (iv) breach of Paragraph Fourth (c) of this Agreement; or (v) breach of any confidentiality agreement between the Corporation and the Employee. Except as otherwise specifically set forth in this Agreement or as otherwise prohibited by law, all rights of Employee, and all obligations of the Corporation under this Agreement, shall cease and terminate on, and as of, the date of termination of employment for just cause.

Eligibility for Termination Benefits. (a) Subject to paragraph (d) of Paragraph Third, if Employee's employment with the Corporation is terminated by the Corporation without just cause, Employee shall receive such benefits hereunder ("Termination Benefits") as determined in accordance with Paragraph Third, provided Employee, if requested, remains in the employment of the Corporation for a period not exceeding 60 days following receipt of a written notice of such termination. For purposes of this Agreement, termination of Employee's employment by the Corporation shall constitute a termination for "just cause" only if such termination is for one of the following reasons: (i) conviction of a felony punishable by a prison sentence of more than one year; (ii) habitual use of drugs without a prescription or habitual, excessive use of alcohol to the extent that any of such uses materially interferes with Employee's performance of his duties; or (iii) refusal or failure, after notice, by Employee to perform or discharge duties and responsibilities appropriate to his position, which refusal or failure amounts to an extended and gross neglect of his duties to the Corporation; (iv) breach of Paragraph Fourth (c) of this Agreement; or (v) breach of any confidentiality agreement between the Corporation and the Employee. Except as otherwise specifically set forth in this Agreement or as otherwise prohibited by law, all rights of Employee, and all obligations of the Corporation under this Agreement, shall cease and terminate on, and as of, the date of termination of employment for just cause.