Common use of Obligations of Employer Upon Termination Clause in Contracts

Obligations of Employer Upon Termination. If within one (1) year following the Effective Date of a Change of Control, Executive’s employment is deemed terminated Without Cause within the two-year period immediately preceding the end of the Employment Period, then in addition to any amount payable under Section 4(G), Employer shall pay to Executive in a lump sum in cash within thirty (30) days after the Date of Termination to the extent not theretofore paid, an amount equal to (i) two times Executive’s then Base Salary, two times the then Base Bonus, and the benefits provided pursuant to Section 3(D), less (ii) the amount payable under Section 4(G) (except that Executive, at his option, may choose to continue to have he and his family covered, to the extent they are then covered, by Employer’s health plan in lieu of receiving a lump sum payment for that benefit, and Employer shall use reasonable efforts to cooperate in such event); provided, however, that if the amount calculated under this Section 5(B) is a negative number, Executive shall not be deemed to owe that amount to Employer.