Failure of Company to Renew Agreement. If the Employment Period terminates for a reason set forth in clause (ii) of Section 4, in lieu of any severance amounts which otherwise would be payable to the Executive, the Company shall pay to the Executive the amounts or benefits set forth in Sections 5(a)(i), (ii) and (v), plus a lump sum cash amount equal to one and one-half times the sum of his Base Compensation and target bonus for the year in which the Termination Date occurs, and shall provide to the Executive the benefits described in Section 5(a)(iv) for the period of one and one-half years commencing on the Termination Date.
Appears in 6 contracts
Samples: Employment Agreement (Zenith Electronics Corp), Employment Agreement (Zenith Electronics Corp), Employment Agreement (Zenith Electronics Corp)
