Common use of Payment Due Upon Termination Clause in Contracts

Payment Due Upon Termination. If your employment is terminated prior to the last day of February, 1993, for any reason other than your death or disability, your employment has been terminated for "good cause" or you have voluntarily resigned in circumstances not covered by Paragraph 14 below, then you shall be entitled to receive, at the date of termination, severance pay equal to six (6) months of pay at your then base salary rate.

Payment Due Upon Termination. If your employment is terminated prior to the last day of FebruaryDecember, 19931996, for any reason other than your death or disability, your employment has been terminated for "good cause" or you have voluntarily resigned in circumstances not covered by Paragraph 14 below, then you shall be entitled to receive, at the date of termination, severance pay equal to six (6) months of pay at your then base salary rate.