Failure to Extend. A failure to extend the Agreement pursuant to Section 2 by either party shall not be treated as a termination of Executive's employment for purposes of this Agreement.
Failure to Extend. Subject to Section 6(d)(ix), a failure to extend the Agreement pursuant to Section 2 by either party shall not be treated as a termination of Executive's employment for purposes of this Agreement.
Failure to Extend. If the Company elects to cause the Employment Term to terminate on the third anniversary of the date hereof pursuant to Section 1.01, the Company shall pay to or on behalf of Executive, as Executive’s sole and exclusive remedy, in lieu of all other remedies at law or in equity, for such election not to extend the Employment Term, which Executive acknowledges to be fair and reasonable, the following amounts set forth in this Section 4.04:
(a) any of Executive’s accrued but unpaid Base Salary through the third anniversary of the date hereof (plus accrued and unpaid expenses reimbursable in accordance with Section 2.06); and
(b) an amount equal to Executive’s Base Salary (not including any bonus payable) as of the date immediately prior to the third anniversary of the date hereof for twelve (12) months, payable in accordance with the Company’s regular payroll procedures beginning sixty (60) days after the date of termination. Notwithstanding the foregoing, payment of the amount described in Section 4.04(b) shall be conditioned on the effectiveness of a full release of claims by Executive in a form to be provided to Executive by the Company. Such release must be executed by Executive and delivered to the Company, and must have become irrevocable, no later than the date on which such payments are to commence.
Failure to Extend. A failure to extend the Employment Period, pursuant to Section 1, by the Executive shall not be treated as a termination of Executive’s employment for purposes of this Agreement.
Failure to Extend. If the Company elects to cause the Employment Term to terminate on the third anniversary of the date hereof pursuant to Section 1.01, the Company shall pay to or on behalf of Executive, as Executive’s sole and exclusive remedy, in lieu of all other remedies at law or in equity, for such election not to extend the Employment Term, which Executive acknowledges to be fair and reasonable, the following amounts set forth in this Section 4.04:
(a) Executive’s accrued but unpaid Base Salary through the third anniversary of the date hereof (plus accrued and unpaid expenses reimbursable in accordance with Section 2.06); and
(b) an amount equal to Executive’s Base Salary (not including any bonus payable) as of the date immediately prior to the third anniversary of the date hereof for twelve (12) months after such termination, payable in accordance with the Company’s regular payroll procedures. Notwithstanding the foregoing, payment of the amount described in Section 4.04(b) shall be conditioned on the effectiveness of a release of claims by Executive in substantially the form attached hereto as Exhibit A.
Failure to Extend. If at any time, the Company elects not to extend the Term as described in Article 2.1, then Craix xxxll continue to perform under this Agreement until the expiration of the Term and shall then be entitled to continued payment of the Base Salary then in effect for an additional six (6) months after the expiration date. The obligation of the Company to make such payments under this Article 5.6 shall be subject to the same conditions, and shall have the same effect, as Severance Payment under this Agreement.
Failure to Extend. If the Stated Expiration Date of the Letter of Credit shall not be extended, the City agrees to use its best efforts to arrange for (i) the substitution of the Letter of Credit by an Alternate Subordinated Credit Support Instrument or (ii) the maturity of all of the Commercial Paper Notes supported by the Letter of Credit on or prior to the then existing Stated Expiration Date.
Failure to Extend. If at any time, the Company elects not to extend the Term as described in Article 2.1, then Irwix xxxll continue to perform under this Agreement until the expiration of the Term and shall then be entitled to continued payment of the Base Salary then in effect for an additional six (6) months after the expiration date. The obligation of the Company to make such payments under this Article 5.6 shall be subject to the same conditions, and shall have the same effect, as Severance Payment under this Agreement.
Failure to Extend. If at any time, the Company elects not to extend the Term as described in Article 2.1, then Gibbx xxxll continue to perform under this Agreement until the expiration of the Term and shall then be entitled to continued payment of the Base Salary then in effect for an additional six (6) months after the expiration date. The obligation of the Company to make such payments under this Article 5.6 shall be subject to the same conditions, and shall have the same effect, as Severance Payment under this Agreement.
Failure to Extend. A failure by Company to extend Executive's Agreement ----------------- pursuant to Section 2.1 shall not be treated as a termination of Executive's employment for purposes of this Agreement; provided, however, that if the Company gives notice of nonrenewal of the initial Term in accordance with Section 2.1, the Company shall continue to pay to Executive Base Compensation for the twelve (12) month period after expiration of the initial Term. For this purpose, the "at risk" component of Base Compensation shall be added to and paid as part of Executive's salary.
