Common use of Involuntary Terminations Clause in Contracts

Involuntary Terminations. In the event that a ▇▇▇▇ Atlantic Company ------------------------ discharges the Key Employee other than for Cause, and either (i) the Merger subsequently occurs pursuant to the Definitive Agreement, or (ii) the Definitive Agreement is terminated without the Merger occurring, then ▇▇▇▇ Atlantic shall cause the Key Employee's last employing ▇▇▇▇ Atlantic Company to pay the Key Employee a bonus equal in amount to the Stay Bonus or Adjusted Stay Bonus which would otherwise have become payable under Section 1 (a) or (b) of this Agreement, provided that the payment of such bonus shall be contingent upon the absence, at the time of payment, of any act by the Key Employee that would constitute a material breach of this Agreement, and provided further that the date of discharge shall be substituted for the dates described in Section 1 (a) or (b) for purposes of calculating the dollar amount of such bonus. Such bonus shall be paid not later than the date on which the Stay Bonus or Adjusted Stay Bonus would otherwise have become payable.

Involuntary Terminations. In the event that a ▇▇▇▇ Atlantic ------------------------ Company ------------------------ discharges the Key Employee other than for Cause, and either (i) the Merger subsequently occurs pursuant to the Definitive Agreement, or (ii) the Definitive Agreement is terminated without the Merger occurring, then ▇▇▇▇ Atlantic shall cause the Key Employee's last employing ▇▇▇▇ Atlantic Company to pay the Key Employee a bonus equal in amount to the Stay Bonus or Adjusted Stay Bonus which would otherwise have become payable under Section 1 (a) or (b) of this Agreement, provided that the payment of such bonus shall be contingent upon the absence, at the time of payment, of any act by the Key Employee that would constitute a material breach of this Agreement, and provided further that the date of discharge shall be substituted for the dates described in Section 1 (a) or (b) for purposes of calculating the dollar amount of such bonus. Such bonus shall be paid not later than the date on which the Stay Bonus or Adjusted Stay Bonus would otherwise have become payable.