Common use of RIGHTS OF EMPLOYEE UPON TERMINATION Clause in Contracts

RIGHTS OF EMPLOYEE UPON TERMINATION. (A) HPI may terminate Employee "Without Cause" at any time upon giving written notice to Employee. HPI shall then pay Employee "Severance Pay" equal to Employee's Base Salary and benefits in accordance with the paragraphs of Article 4 above for the remaining term of this Agreement until the Termination Date or for one year whichever period is longer. "Severance Pay" shall include a calendar based pro-rata bonus for the year of termination. Severance pay shall be paid in equal installments on HPI's normal payment schedule or in lump sum(s) at Employer's option. Additionally, the Employee shall receive "Severance Pay" as described above if at any time the Employee's duties or terms of employment materially change and Employee elects to leave the employ of HPI as a result of such change.

RIGHTS OF EMPLOYEE UPON TERMINATION. (A) HPI may terminate Employee "Without Cause" at any time upon giving written notice to Employee. HPI shall then pay Employee "Severance Pay" equal to Employee's Base Salary and benefits in accordance with the paragraphs of Article 4 above for the remaining term of this Agreement until the Termination Date or for one year two years whichever period is longer. "Severance Pay" shall include a calendar based pro-rata bonus for the year of termination. Severance pay shall be paid in equal installments on HPI's normal payment schedule or in lump sum(s) at Employer's option. Additionally, the Employee shall receive "Severance Pay" as described above if at any time the Employee's duties or terms of employment materially change and Employee elects to leave the employ of HPI as a result of such change.