Common use of Involuntary Termination and Default by Employer Clause in Contracts

Involuntary Termination and Default by Employer. In the event of the ----------------------------------------------- Involuntary Termination of Employee's employment by Employer, then (i) Employer shall continue to pay Employee his base salary as was in effect as of the Employment Termination Date subject to the CPI adjustment for the longer of one year from the Employment Termination Date or through the then Scheduled Termination Date and during such period shall continue in effect Employee's benefits in accordance with Section 4(a), (ii) Employee shall be entitled to participate in the Profit Sharing Plan to the extent and only to the extent provided therein and (iii) all obligations of Employee under this Agreement other than Section 6(a) hereof shall terminate; provided, however, that in the event that Employee engages in any of the activities described in Section 6(c) hereof following any such termination, then Employer's obligations under clause (i) above shall terminate. After any material default by Employer in the performance of any of its obligations hereunder, Employee shall have the right to terminate his employment hereunder for a period of three months thereafter, and such a termination shall be deemed an Involuntary Termination by Employer. Notwithstanding the foregoing, Employer shall not be deemed to have committed a material default hereunder unless and until (x) Employee gives written notice to Employer of Employee's belief that Employer has committed such a default, and (y) Employer fails, within 30 days after the effective date of such notice (determined as provided in Section 8 hereof), to cure such default. Payment of the amount specified in this Section 5(c) is agreed by the parties hereto to be in full satisfaction and compromise of any claims arising out of any termination of Employee's employment pursuant to this Section 5(c).

Involuntary Termination and Default by Employer. In the event of ----------------------------------------------- the ----------------------------------------------- Involuntary Termination of Employee's employment by Employer, then (i) Employer shall continue to pay Employee his base salary as was in effect as of the Employment Termination Date subject to the CPI adjustment for the longer of one year from the Employment Termination Date or through the then Scheduled Termination Date and during such period shall continue in effect Employee's benefits in accordance with Section 4(a), (ii) Employee shall be entitled to participate in the Profit Sharing Plan to the extent and only to the extent provided therein and (iii) all obligations of Employee under this Agreement other than Section 6(a) hereof shall terminate; provided, however, that in the event that Employee engages in any of the activities described in Section 6(c) hereof following any such termination, then Employer's obligations under clause (i) above shall terminate. After any material default by Employer in the performance of any of its obligations hereunder, Employee shall have the right to terminate his employment hereunder for a period of three months thereafter, and such a termination shall be deemed an Involuntary Termination by Employer. Notwithstanding the foregoing, Employer shall not be deemed to have committed a material default hereunder unless and until (x) Employee gives written notice to Employer of Employee's belief that Employer has committed such a default, and (y) Employer fails, within 30 days after the effective date of such notice (determined as provided in Section 8 hereof), to cure such default. Payment of the amount specified in this Section 5(c) is agreed by the parties hereto to be in full satisfaction and compromise of any claims arising out of any termination of Employee's employment pursuant to this Section 5(c).

Involuntary Termination and Default by Employer. In the event of the ----------------------------------------------- Involuntary Termination of Employee's employment by Employer, then (i) Employer shall continue to pay Employee his base salary as was in effect as of the Employment Termination Date subject to the CPI adjustment for the longer of one year from the Employment Termination Date or through the then Scheduled Termination Date and during such period shall continue in effect Employee's benefits in accordance with Section 4(a), (ii) Employee shall be entitled to participate in the Profit Sharing Plan to the extent and only to the extent provided therein and (iii) all obligations of Employee under this Agreement other than Section 6(a) hereof shall terminate; provided, however, that in the event that Employee engages in any of the activities described in Section 6(c) hereof following any such termination, then Employer's obligations under clause (i) above shall terminate. After any material default by Employer in the performance of any of its obligations hereunder, Employee shall have the right to terminate TERMINATE his employment hereunder for a period of three months thereafter, and such a termination shall be deemed an Involuntary Termination by Employer. Notwithstanding the foregoing, Employer shall not be deemed to have committed a material default hereunder unless and until (x) Employee gives written notice to Employer of Employee's belief that Employer has committed such a default, and (y) Employer failsfalls, within 30 days after the effective date of such notice (determined as provided in Section 8 hereof), to cure such default. Payment of the amount specified in In this Section 5(c) is agreed by the parties hereto to be in full satisfaction and compromise of any claims arising out of any termination of Employee's employment pursuant to this Section 5(c).

Involuntary Termination and Default by Employer. In the event of the ----------------------------------------------- Involuntary Termination of Employee's employment by Employer, then (i) Employer shall continue to pay Employee his base salary as was in effect as of the Employment Termination Date subject to the CPI adjustment for the longer of one year from the Employment Termination Date or through the then Scheduled Termination Date and during such period shall continue in effect Employee's benefits in accordance with Section 4(a), (ii) Employee shall be entitled to participate in the Profit Sharing Plan to the extent and only to the extent provided therein and (iii) all obligations of Employee under this Agreement other than Section 6(a) hereof shall terminate; provided, however, that in the event that Employee engages in any of the activities described in Section 6(c) hereof following any such termination, then Employer's obligations under clause (i) above shall terminate. After any material default by Employer in the performance of any of its obligations hereunder, Employee shall have the right to terminate his employment hereunder for a period of three months thereafter, and such a termination shall be deemed an Involuntary Termination by Employer. Notwithstanding the foregoing, Employer shall not be deemed to have committed a material default hereunder unless and until (x) Employee gives written notice to Employer of Employee's belief that Employer has committed such a default, and (y) Employer fails, within 30 days after the effective date of such notice (determined as provided in Section 8 hereof), to cure such default. Payment of the amount specified in this Section 5(c) is agreed by the parties hereto to be in full satisfaction and compromise of any claims arising out of any termination of Employee's employment pursuant to this Section 5(c).

Involuntary Termination and Default by Employer. In the event of ----------------------------------------------- the ----------------------------------------------- Involuntary Termination of Employee's employment by Employer, then (i) Employer shall continue to pay Employee his base salary as was in effect as of the Employment Termination Date subject to the CPI adjustment for the longer of one year from the Employment Termination Date or through the then Scheduled Termination Date and during such period shall continue in effect Employee's benefits in accordance with Section 4(a), (ii) Employee shall be entitled to participate in the Profit Sharing Plan to the extent and only to the extent provided therein and (iii) all obligations of Employee under this Agreement other than Section 6(a) hereof shall terminate; provided, however, that in the event that Employee engages in any of the activities described in Section 6(c) hereof following any such termination, then Employer's obligations under clause (i) above shall terminate. After any material default by Employer in the performance of any of its obligations hereunder, Employee shall have the right to terminate his employment hereunder for a period of three months thereafter, and such a termination shall be deemed an Involuntary Termination by Employer. Notwithstanding the foregoing, Employer shall not be deemed to have committed a material default hereunder unless and until (x) Employee gives written notice to Employer of Employee's belief that Employer has committed such a default, and (yY) Employer fails, within 30 days after the effective date of such notice (determined as provided in Section 8 hereof), to cure such default. Payment of the amount specified in this Section 5(c) is agreed by the parties hereto to be in full satisfaction and compromise of any claims arising out of any termination of Employee's employment pursuant to this Section 5(c).