Common use of ESCROW DURING A TERMINATION DISPUTE Clause in Contracts

ESCROW DURING A TERMINATION DISPUTE. Prior to any Change in Control, if the Employee shall be terminated for Cause, and, within 30 days of such termination, shall notify the Employer of his intention to adjudicate such termination as improper, the Employer agrees that it will deposit with KeyBank National Association, Cleveland, Ohio, as Escrow Agent the installments of the Employee's Base Salary (as provided in Section 5 below) as the same would have become payable but for such termination. In the event of a final adjudication by a tribunal of competent jurisdiction that such termination was not for Cause, then the amounts so deposited in escrow, plus any interest earned by the Escrow Agent thereon, shall be delivered promptly to the Employee. If such adjudication shall be in favor of the Employer, the Escrow Agent shall return the sums so deposited, plus such interest, to the Employer. The escrowed salary shall not be deemed to be liquidated damages but the Employer shall be entitled to a credit against any such award to the extent of the sums so delivered to the Employee.

ESCROW DURING A TERMINATION DISPUTE. Prior to any Change in Control, if the Employee shall be is terminated for Cause, and, within 30 thirty (30) days of such termination, shall notify Employee notifies the Employer of his intention to adjudicate such termination as improper, the Employer agrees that it will deposit with KeyBank KeyBank, National Association, Cleveland, OhioOhio (or any successor thereto), as Escrow Agent Agent, the installments of the Employee's ’s Base Salary (as provided in Section 5 below) as the same would have become payable but for such termination. In the event of a final adjudication by a tribunal of competent jurisdiction that such termination was not for Cause, then the amounts so deposited in escrow, plus any interest earned on the amounts held by the Escrow Agent thereonAgent, shall be delivered promptly to the Employee. If such adjudication shall be in favor of the Employer, the Escrow Agent shall return the all such sums so deposited, plus such interestheld by it, to the Employer. The escrowed salary shall not be deemed to be liquidated damages but the Employer shall be entitled to a credit against any such award to the extent of the sums so delivered to the Employee.

ESCROW DURING A TERMINATION DISPUTE. Prior to any Change in Control, if the Employee shall be terminated for Cause, and, within 30 days of such termination, shall notify the Employer of his intention to adjudicate such termination as improper, the Employer agrees that it will deposit with KeyBank National Association, Cleveland, Ohio, as Escrow Agent the installments of the Employee's ’s Base Salary (as provided in Section 5 below) as the same would have become payable but for such termination. In the event of a final adjudication by a tribunal of competent jurisdiction that such termination was not for Cause, then the amounts so deposited in escrow, plus any interest earned by the Escrow Agent thereon, shall be delivered promptly to the Employee. If such adjudication shall be in favor of the Employer, the Escrow Agent shall return the sums so deposited, plus such interest, to the Employer. The escrowed salary shall not be deemed to be liquidated damages but the Employer shall be entitled to a credit against any such award to the extent of the sums so delivered to the Employee.

ESCROW DURING A TERMINATION DISPUTE. Prior to any Change in Control, if the Employee shall be terminated for Cause, and, within 30 days of such termination, shall notify the Employer and the Company of his intention to adjudicate such termination as improper, the Employer Company agrees that it will deposit (or will cause the Employer to deposit) with KeyBank National Association, Cleveland, Ohio, as Escrow Agent the installments of the Employee's ’s Base Salary (as provided in Section 5 below) as the same would have become payable but for such termination. In the event of a final adjudication by a tribunal of competent jurisdiction that such termination was not for Cause, then the amounts so deposited in escrow, plus any interest earned by the Escrow Agent thereon, shall be delivered promptly to the Employee. If such adjudication shall be in favor of the Employer, the Escrow Agent shall return the sums so deposited, plus such interest, to the Company or the Employer, as the case may be. The escrowed salary shall not be deemed to be liquidated damages but the Employer shall be entitled to a credit against any such award to the extent of the sums so delivered to the Employee.

ESCROW DURING A TERMINATION DISPUTE. Prior to any Change in Control, if the Employee shall be terminated for Cause, and, within 30 days of such termination, shall notify the Employer of his intention to adjudicate such termination as improper, the Employer agrees that it will deposit with KeyBank National Association, Cleveland, Ohio, as Escrow Agent the installments in stallments of the Employee's Base Salary (as provided in Section 5 below) as the same would have become payable but for such termination. In the event of a final adjudication by a tribunal of competent jurisdiction that such termination was not for Cause, then the amounts so deposited in escrow, plus any interest earned by the Escrow Agent thereon, shall be delivered promptly to the Employee. If such adjudication shall be in favor of the Employer, the Escrow Agent shall return the sums so deposited, plus such interest, to the Employer. The escrowed salary shall not be deemed to be liquidated damages but the Employer shall be entitled to a credit against any such award to the extent of the sums so delivered to the Employee.

ESCROW DURING A TERMINATION DISPUTE. Prior to any Change in Control, if the Employee shall be terminated for Cause, and, within 30 thirty (30) days of such termination, shall notify the Employer of his intention to adjudicate such termination as improper, the Employer agrees that it will deposit with KeyBank National Association, Cleveland, Ohio, as Escrow Agent the installments of the Employee's ’s Base Salary and any bonuses due to be paid (as provided in Section 5 below) as the same would have become payable but for such terminationtermination (“Escrow Amount”). In the event of a final adjudication by a tribunal of competent jurisdiction that such termination was not for Cause, then the amounts so deposited in escrowEscrow Amount, plus any interest earned by the Escrow Agent thereon, shall be delivered promptly to the Employee. If such adjudication shall be in favor of the Employer, the Escrow Agent shall return the sums so depositedEscrow Amount, plus such interest, to the Employer. The escrowed salary Escrow Amount shall not be deemed to be liquidated damages but the Employer shall be entitled to a credit against any such award to the extent of the sums so delivered to the Employee.

ESCROW DURING A TERMINATION DISPUTE. Prior to any Change in Control, if the Employee shall be terminated for Cause, and, within 30 thirty (30) days of such termination, shall notify the Employer of his intention to adjudicate such termination as improper, the Employer agrees that it will deposit with KeyBank National AssociationXX Xxxxxx Xxxxx, Cleveland, Ohio, as Escrow Agent the installments of the Employee's ’s Base Salary (as provided in Section 5 below) as the same would have become payable but for such termination. In the event of a final adjudication by a tribunal of competent jurisdiction that such termination was not for Cause, then the amounts so deposited in escrow, plus any interest earned by the Escrow Agent thereon, shall be delivered promptly to the Employee. If such adjudication shall be in favor of the Employer, the Escrow Agent shall return the sums so deposited, plus such interest, to the Employer. The escrowed salary shall not be deemed to be liquidated damages but the Employer shall be entitled to a credit against any such award to the extent of the sums so delivered to the Employee.