Common use of Non-renewal of the Agreement Clause in Contracts

Non-renewal of the Agreement. If the Employment Period expires as a result of non-renewal pursuant to Section 1(a) above, this Agreement shall terminate and Employee shall be entitled (i) to continue to receive from Employer his then current Basic Compensation, such amount to continue to be paid in accordance with Employer’s payroll practices for a period of nine (9) months following the date of expiration, and (ii) for a period of nine (9) months following the date of expiration, to continue to receive the benefits to which he would otherwise be entitled during the Employment Period pursuant to Section 2(e) above; provided that Employee shall continue to make the same contributions toward such coverage as Employee was making on the date of expiration, with such adjustments to contributions as are made generally for all Employer’s full-time executive employees; further provided that in such event Employee shall no longer be entitled to participate in any of Employer’s 401(k) plans, excess savings plans, tax qualified profit sharing plans or any other retirement plans.

Non-renewal of the Agreement. If the Employment Period expires as a result of non-renewal pursuant to Section 1(a) above, this Agreement shall terminate and Employee shall be entitled (i) to continue to receive from Employer his then current Basic Compensation, such amount to continue to be paid in accordance with Employer’s payroll practices for a period of nine (9) months following the date of expiration, and (ii) for a period of nine (9) months following the date of expiration, to continue to receive the benefits to which he would otherwise be entitled during the Employment Period pursuant to Section 2(e2(d) above; provided that Employee shall continue to make the same contributions toward such coverage as Employee was making on the date of expiration, with such adjustments to contributions as are made generally for all Employer’s full-time executive employees; further provided that in such event Employee shall no longer be entitled to participate in any of Employer’s 401(k) plans, excess savings plans, tax qualified profit sharing plans or any other retirement plans.