Common use of PAYMENTS AFTER WRONGFUL TERMINATION Clause in Contracts

PAYMENTS AFTER WRONGFUL TERMINATION. (a) If: (i) the Company terminates the Executive's employment other than because of the Executive's death, Disability, or for Cause; or (ii) the Company elects to terminate the Executive's employment as of the end of the Initial Term or any Renewal Term; or (iii) if the Executive shall terminate the Executive's employment for Good Reason pursuant to Section 5.4 (any such termination being referred to as a "Wrongful Termination"), then the Company shall pay to the Executive for a period equal to the greater of the remainder of the current term or twenty-four (24) months: 1) the Base Salary, in effect on the Date of Termination; and 2) an amount equal to the average annual Bonus, if any, received by Executive prior to termination. In addition, Company shall pay to Executive (i) the incentive compensation to which he is entitled under this Agreement through the Date of Termination and (ii) the cost of health insurance benefits for the Executive and his family for a period of 18 months.