Common use of NOT IN CONNECTION WITH A TRIGGERING TRANSACTION Clause in Contracts

NOT IN CONNECTION WITH A TRIGGERING TRANSACTION. If Employee's employment with Xxxxxxxx is terminated prior to the end of the initial Term or prior to the end of any subsequent renewal Term, as the case may be, (a) by Xxxxxxxx without Good Cause or (b) by Employee for Good Reason, then upon the negotiation and execution of a mutually acceptable settlement and release agreement by Xxxxxxxx and Employee, in addition to any accrued salary and other payments owed to Employee under Angelica's other benefit plans and policies, Xxxxxxxx shall pay Employee an amount equal to 1/12th of the Employee's then-current Annual Base Salary multiplied by the number of years of service of Employee with Xxxxxxxx; provided, however, that said amount shall not, under any circumstances, exceed Employee's then-current Annual Base Salary nor be less than one-half of Employee's then-current Annual Base Salary. Said amount shall be paid in equal, semi-monthly payments, less applicable taxes, withholdings and standard deductions. In the case of a termination of Employee's employment with Xxxxxxxx not in connection with a Triggering Transaction for any reason other than as stated in this Section 4.1 above, Employee shall be entitled only to accrued salary and other payments owed to Employee under Angelica's other benefit plans and policies.

NOT IN CONNECTION WITH A TRIGGERING TRANSACTION. If Employee's employment with Xxxxxxxx is terminated prior to the end of the initial Term or prior to the end of any subsequent renewal Term, as the case may be, (a) by Xxxxxxxx without Good Cause or (b) by Employee for Good Reason, then upon the negotiation and execution of a mutually acceptable settlement and release agreement by Xxxxxxxx and EmployeeEmployee (which will include covenants consistent with the provisions of Section 5 below), and in addition to any accrued salary and other payments owed to Employee under Angelica's other benefit plans and policies, Xxxxxxxx shall pay Employee an amount equal to 1/12th of the Employee's then-current Annual Base Salary multiplied by the number of years of service of Employee with Xxxxxxxx; provided, however, that said amount shall not, under any circumstances, exceed Employee's then-current Annual Base Salary nor be less than one-half of Employee's then-current Annual Base Salary. Said amount shall be paid in equal, semi-monthly payments, less applicable taxes, withholdings and standard deductions. In the case of a termination of Employee's employment with Xxxxxxxx not in connection with a Triggering Transaction for any reason other than as stated in this Section 4.1 above, Employee shall be entitled only to accrued salary and other payments owed to Employee under Angelica's other benefit plans and policies.