Common use of Salary and Benefits Upon Termination Clause in Contracts

Salary and Benefits Upon Termination. Except as specifically provided herein, all salary and other benefits shall terminate as of the effective date of termination if Employee resigns. If involuntarily terminated (except following a Change in Control, as provided for below) and in consideration for the obligations of Employee pursuant to paragraphs 15 and 16 of the Employment Agreement, Employee shall be entitled to a termination or severance salary equal to five (5) years of the annual base salary earned by Employee immediately prior to termination. Employee shall have the option to accelerate payments of the severance salary and receive the full amount upon termination, in Employee's sole discretion. Unless precluded by law, any medical and dental insurance coverage and life insurance coverage and benefits shall continue for thirty (30) days after termination or until Employee is re-employed, whichever shall first occur.

Salary and Benefits Upon Termination. Except as specifically provided herein, all salary and other benefits shall terminate as of the effective date of termination if Employee resigns. If involuntarily terminated (except following a Change in Control, as provided for below) and in consideration for the obligations of Employee pursuant to paragraphs 15 and 16 of the Employment Agreement, Employee shall be entitled to a termination or severance salary equal to five (5) years the remainder of the annual base salary earned by Employee immediately prior to contract at the time of termination. Employee shall have the option to accelerate payments of the severance salary and receive the full amount upon termination, in Employee's sole discretion. Unless precluded by law, any medical and dental insurance coverage and life insurance coverage and benefits shall continue for thirty (30) days after termination or until Employee is re-employed, whichever shall first occur.

Salary and Benefits Upon Termination. Except as specifically provided herein, all salary and other benefits shall terminate as of the effective date of termination if Employee resigns. If involuntarily terminated (except following a Change in Control, as provided for below) and in consideration for the obligations of Employee pursuant to paragraphs 15 and 16 of the Employment Agreement, Employee shall be entitled to a termination or severance salary equal to five (5) years of the annual base salary earned by Employee immediately prior to termination. Employee shall have the option to accelerate payments of the severance salary and receive the full amount upon termination, in Employee's sole discretion. Unless precluded by law, any medical and dental insurance coverage and life insurance coverage and benefits shall continue for thirty (30) days after termination or until Employee is re-employed, whichever shall first occur.

Salary and Benefits Upon Termination. Except as specifically provided herein, all salary and other benefits shall terminate as of the effective date of termination if Employee resigns. If involuntarily terminated (except following a Change in Control, as provided for below) and in consideration for the obligations of Employee pursuant to paragraphs 15 and 16 of the Employment Agreement, Employee shall be entitled to a termination or severance salary equal to five one (51) years year of the annual base salary earned by Employee immediately prior to termination. Employee shall have the option to accelerate payments of the severance salary and receive the full amount upon termination, in Employee's sole discretion. Unless precluded by law, any medical and dental insurance coverage and life insurance coverage and benefits shall continue for thirty (30) days after termination or until Employee is re-employed, whichever shall first occur.