Common use of Event of Termination Clause in Contracts

Event of Termination. 5.1. If Employee's employment is terminated by the Board or any reason, or by reason of death or permanent disability of the Employee, or by reason of the expiration of the Term of the Agreement, then Board shall pay or provide to Employee: (i) any Base Salary earned through the date of termination, unpaid expense reimbursements and unused vacation that accrued through the date of termination; and (ii) any vested benefits Employee may have under any employee benefit plan of the employer through the date of termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans. These payments and benefits shall not be subject to mitigation or offset.

Event of Termination. 5.1. 6.1 If Employee's employment is terminated by the Board or for any reason, or by reason of death or permanent disability of the Employee, or by reason of the expiration of the Term of the Agreement, then the Board shall pay or provide to Employee: (i) any Base Salary earned through the date of termination, unpaid expense reimbursements and unused vacation that accrued through the date of termination; and (ii) any vested benefits Employee may have under any employee benefit plan of the employer Board through the date of termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans. These payments and benefits shall not be subject to mitigation or offset. The Board’s decision to terminate this Agreement in accordance with this paragraph does not obligate the Board to pay any severance compensation to the Employee upon termination.