Common use of Obligations of Company Upon Termination Clause in Contracts

Obligations of Company Upon Termination. (a) In the event of the termination of Executive's employment pursuant to Section 11 (a), (b) or (c), Executive will be entitled only to the compensation earned by him hereunder as of the date of such termination (plus life insurance or disability benefits). (b) In the event of the termination of Executive's employment pursuant to Section 11 (d) or (e), Executive will be entitled to receive as severance pay, an amount equal to the monthly compensation provided for in Section 3(a) multiplied by a factor of three (3) in addition to all payments of salary earned through the date of termination in one lump sum.

Obligations of Company Upon Termination. (a) In the event of the termination of Executive's ’s employment pursuant to Section 11 (a11(a), (b) or (c), Executive will be entitled only to the compensation earned by him hereunder as of the date of such termination (plus life insurance or disability benefits). (b) In the event of the termination of Executive's ’s employment pursuant to Section 11 (d) or (e), Executive will be entitled to receive as severance pay, an amount equal to the monthly compensation provided for in Section 3(a) multiplied by a factor of three (3) in addition to all payments of salary earned through the date of termination in one lump sum.

Obligations of Company Upon Termination. (a) In the event of the termination of Executive's ’s employment pursuant to Section 11 (a), (b) or (c), Executive will be entitled only to the compensation earned by him hereunder as of the date of such termination (plus life insurance or disability benefits). (b) In the event of the termination of Executive's ’s employment pursuant to Section 11 10 (d) or (e), Executive will be entitled to receive as severance pay, an amount equal to the monthly compensation provided for in Section 3(a) multiplied by a factor of three (3) in addition to all payments of salary earned through the date of termination in one lump sum.

Obligations of Company Upon Termination. (a) In the event of the termination of Executive's ’s employment pursuant to Section 11 (a), (b) or (c), Executive will be entitled only to the compensation earned by him hereunder as of the date of such termination (plus life insurance or disability benefits)termination. (b) In the event of the termination of Executive's ’s employment pursuant to Section 11 (d) or (e), Executive will be entitled to receive as severance pay, an amount equal to the monthly compensation provided for in Section 3(a) multiplied by a factor of three (3) $10,000 or $20,000 if such termination occurs on or before November 30, 2009 and 2010, respectively, or $30,000 if such termination occurs after November 30, 2010 in addition to all payments of salary earned through the date of termination in one lump sum.