Common use of Term of Employment, Expiration and Termination Clause in Contracts

Term of Employment, Expiration and Termination. (a) Subject to the provisions of Paragraphs 15 and 16, the term of employment of Executive pursuant to this Agreement shall commence on January 1, 2003, and shall continue through December 31, 2007 (the "Original Term of Employment"). (b) Upon expiration of this Agreement, if Employer elects to not continue Executive's employment, Employer shall provide Executive notice of such fact and shall pay Executive: a lump sum equal to twenty-four (24) month's salary. (c) Upon expiration of this Agreement, if Employer elects to continue Executive's employment without a written employment agreement, Executive's employment shall be at will, except that Executive's employment may be terminated without cause by Employer after notice to Executive. Upon such termination Employer shall pay Executive: a lump sum equal to twenty-four (24) month's salary. (d) On termination of Executive's employment for cause during the Original Term of Employment pursuant to Paragraph 15(a), Executive shall receive no further salary. (e) On termination of Executive's employment without cause during the Original Term of Employment pursuant to Paragraph 15(c), Employer shall pay Executive a lump sum equal to twenty-four (24) months' salary. In the event of a material breach of this Agreement by Employer that is not cured after notice from Executive, Executive may elect to treat such breach as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. (f) On termination of Executive's employment by Executive without cause either (i) during the Original Term of Employment pursuant to Paragraph 16(b), or (ii) after expiration of the Original Term of Employment if Executive's employment continues without written agreement, Employer shall pay Executive a lump sum equal to three (3) month's salary, and Executive shall be entitled to no other severance benefits, except as provided under Subparagraph 5(k). Notwithstanding the foregoing, if Executive’s termination is under the provisions of Subparagraph 5(h) regarding voluntary retirement after the age of sixty-two years and six months, the provisions of this Subparagraph 5(f) shall not be applicable and the provisions of Subparagraph 5(h) shall control. (g) If Executive's employment is terminated as a result of a hostile Change in Control (as defined below) of Employer, such termination shall be deemed a termination without cause under the provisions of Paragraph 5(e), except that Executive shall receive a severance amount equal to twice any amount due under Paragraph 5(e). Any termination of Executive in contemplation of or within twelve (12) months after such Change in Control, except a termination for cause under Paragraph 15(a), shall be deemed a termination under this Subparagraph (g). Further, if Executive's position is materially changed by Employer in contemplation of or within twelve (12) months after any such Change in Control, Executive may elect to treat such change as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. "Change of Control" means the election of new board members constituting a majority of the directors then in office, which new board members were not nominated by a majority of the directors in office on the date hereof.

Term of Employment, Expiration and Termination. (a) Subject to the provisions of Paragraphs 15 and 16, the term of employment of Executive pursuant to this Agreement shall commence on January 1, 2003, and shall continue through December 31, 2007 (the "Original Term of Employment"). (b) . Upon expiration of this Agreement, if Employer elects to not continue Executive's employment, Employer shall provide Executive notice of such fact and shall pay Executive: a lump sum equal to twenty-four (24) month's salary. (c) . Upon expiration of this Agreement, if Employer elects to continue Executive's employment without a written employment agreement, Executive's employment shall be at will, except that Executive's employment may be terminated without cause by Employer after notice to Executive. Upon such termination Employer shall pay Executive: a lump sum equal to twenty-four (24) month's salary. (d) . For purposes of this paragraph, the requirement by Employer that Executive relocate Executive’s place of work by a distance greater than 40 miles, shall be considered a termination without cause by Employer entitling Executive to the benefits hereunder. On termination of Executive's employment for cause during the Original Term of Employment pursuant to Paragraph 15(a), Executive shall receive no further salary. (e) . On termination of Executive's employment without cause during the Original Term of Employment pursuant to Paragraph 15(c), Employer shall pay Executive a lump sum equal to twenty-four (24) months' salary. In the event of a material breach of this Agreement by Employer that is not cured after notice from Executive, Executive may elect to treat such breach as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. (f) . On termination of Executive's employment by Executive without cause either (i) during the Original Term of Employment pursuant to Paragraph 16(b), or (ii) after expiration of the Original Term of Employment if Executive's employment continues without written agreement, Employer shall pay Executive a lump sum equal to three (3) month's salary, and Executive shall be entitled to no other severance benefits, except as provided under Subparagraph 5(k). Notwithstanding the foregoing, if Executive’s termination is under the provisions of Subparagraph 5(h) regarding voluntary retirement after the age of sixty-two years and six monthsmonths or after twenty five (25) years of continuous service with Employer, the provisions of this Subparagraph 5(f) shall not be applicable and the provisions of Subparagraph 5(h) shall control. (g) . If Executive's employment is terminated as a result of a hostile Change in Control (as defined below) of Employer, such termination shall be deemed a termination without cause under the provisions of Paragraph 5(e), except that Executive shall receive a severance amount equal to twice any amount due under Paragraph 5(e). Any termination of Executive in contemplation of or within twelve (12) months after such Change in Control, except a termination for cause under Paragraph 15(a), shall be deemed a termination under this Subparagraph (g). Further, if Executive's position is materially changed by Employer in contemplation of or within twelve (12) months after any such Change in Control, including but not limited to, the required relocation by Employer of Executive’s place of work by a distance greater than 40 miles, Executive may elect to treat such change as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. "Change of Control" means the election of new board members constituting a majority of the directors then in office, which new board members were not nominated by a majority of the directors in office on the date hereof.

Term of Employment, Expiration and Termination. (a) Subject to the provisions of Paragraphs 15 and 16, the term of employment of Executive pursuant to this Agreement shall commence on January 1, 20031997, and shall continue through December 31, 2007 1999 (the "Original Term of Employment"). (b) Upon expiration of this Agreement, if Employer elects to not continue Executive's employment, Employer shall provide Executive notice of such fact and shall pay Executive: a lump sum equal to twentyone (1) month's salary for each year of full-time employment with Employer, except that such sum shall be not less than twelve (12) month's salary and shall not exceed twenty- four (24) month's salary. (c) Upon expiration of this Agreement, if Employer elects to continue Executive's employment without a written employment agreement, Executive's employment shall be at will, except that Executive's employment may be terminated without cause by Employer after notice to Executive. Upon such termination Employer shall pay Executive: a lump sum equal to one (1) month's salary for each year of full-time employment with Employer, except that such sum shall be not less than twelve (12) month's salary and shall not exceed twenty-four (24) month's salary. (d) On termination of Executive's employment for cause during the Original Term of Employment pursuant to Paragraph 15(a), Executive shall receive no further salary. (e) On termination of Executive's employment without cause during the Original Term of Employment pursuant to Paragraph 15(c), Employer shall pay Executive a lump sum equal to one (1) month's salary for each year of full- time employment with Employer, except that such sum shall be not less than twelve (12) month's salary and shall not exceed twenty-four (24) months' salary. In the event of a material breach of this Agreement by Employer that is not cured after notice from Executive, Executive may elect to treat such breach as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. (f) On termination of Executive's employment by Executive without cause either (i) during the Original Term of Employment pursuant to Paragraph 16(b), or (ii) after expiration of the Original Term of Employment if Executive's employment continues without written agreement, Employer shall pay Executive a lump sum equal to three (3) month's salary, and Executive shall be entitled to no other severance benefits, except as provided under Subparagraph 5(k). Notwithstanding the foregoing, if Executive’s termination is under the provisions of Subparagraph 5(h) regarding voluntary retirement after the age of sixty-two years and six months, the provisions of this Subparagraph 5(f) shall not be applicable and the provisions of Subparagraph 5(h) shall control. (g) If Executive's employment is terminated as a result of a hostile Change in Control (as defined below) of Employer, such termination shall be deemed a termination without cause under the provisions of Paragraph 5(e), except that Executive shall receive at Executive's election either the annual salary and benefits payable under this Agreement until the expiration date of the Original Term of Employment, or any renewals thereof, or a severance amount equal to twice any amount due under Paragraph 5(e). Any termination of Executive in contemplation of or within twelve (12) months after such Change in Control, except a termination for cause under Paragraph 15(a), shall be deemed a termination under this Subparagraph (g). Further, if Executive's position is materially changed by Employer in contemplation of or within twelve (12) months after any such Change in Control, Executive may elect to treat such change as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. "Change of Control" means the election of new board members constituting a majority of the directors then in office, which new board members were not nominated by a majority of the directors in office on the date hereof.

Term of Employment, Expiration and Termination. (a) Subject to the provisions of Paragraphs 15 and 16, the term of employment of Executive pursuant to this Agreement shall commence on January 1, 2003, and shall continue through December 31, 2007 2010 (the "Original Term of Employment"). (b) Upon expiration of this Agreement, if Employer elects to not continue Executive's employment, Employer shall provide Executive notice of such fact and shall pay Executive: a lump sum equal to twenty-four (24) month's salary. (c) Upon expiration of this Agreement, if Employer elects to continue Executive's employment without a written employment agreement, Executive's employment shall be at will, except that Executive's employment may be terminated without cause by Employer after notice to Executive. Upon such termination Employer shall pay Executive: a lump sum equal to twenty-four (24) month's salary. For purposes of this paragraph, the requirement by Employer that Executive relocate Executive’s place of work by a distance greater than 40 miles, shall be considered a termination without cause by Employer entitling Executive to the benefits hereunder. (d) On termination of Executive's employment for cause during the Original Term of Employment pursuant to Paragraph 15(a), Executive shall receive no further salary. (e) On termination of Executive's employment without cause during the Original Term of Employment pursuant to Paragraph 15(c), Employer shall pay Executive a lump sum equal to twenty-four (24) months' salary. In the event of a material breach of this Agreement by Employer that is not cured after notice from Executive, Executive may elect to treat such breach as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. (f) On termination of Executive's employment by Executive without cause either (i) during the Original Term of Employment pursuant to Paragraph 16(b), or (ii) after expiration of the Original Term of Employment if Executive's employment continues without written agreement, Employer shall pay Executive a lump sum equal to three (3) month's salary, and Executive shall be entitled to no other severance benefits, except as provided under Subparagraph 5(k). Notwithstanding the foregoing, if Executive’s termination is under the provisions of Subparagraph 5(h) regarding voluntary retirement after the age of sixty-two years and six monthsmonths or after twenty five (25) years of continuous service with Employer, the provisions of this Subparagraph 5(f) shall not be applicable and the provisions of Subparagraph 5(h) shall control. (g) If Executive's employment is terminated as a result of a hostile Change in Control (as defined below) of Employer, such termination shall be deemed a termination without cause under the provisions of Paragraph 5(e), except that Executive shall receive a severance amount equal to twice any amount due under Paragraph 5(e). Any termination of Executive in contemplation of or within twelve (12) months after such Change in Control, except a termination for cause under Paragraph 15(a), shall be deemed a termination under this Subparagraph (g). Further, if Executive's position is materially changed by Employer in contemplation of or within twelve (12) months after any such Change in Control, including but not limited to, the required relocation by Employer of Executive’s place of work by a distance greater than 40 miles, Executive may elect to treat such change as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. "Change of Control" means the election of new board members constituting a majority of the directors then in office, which new board members were not nominated by a majority of the directors in office on the date hereof.

Term of Employment, Expiration and Termination. (a) Subject to the provisions of Paragraphs 15 and 16, the term of employment of Executive pursuant to this Agreement shall commence on January 1, 20032000, and shall continue through December 31, 2007 2002 (the "Original Term of Employment"). (b) Upon expiration of this Agreement, if Employer elects to not continue Executive's employment, Employer shall provide Executive notice of such fact and shall pay Executive: a lump sum equal to one (1) month's salary for each year of full-time employment with Employer, except that such sum shall be not less than twelve (12) month's salary and shall not exceed twenty-four (24) month's salary. (c) Upon expiration of this Agreement, if Employer elects to continue Executive's employment without a written employment agreement, Executive's employment shall be at will, except that Executive's employment may be terminated without cause by Employer after notice to Executive. Upon such termination Employer shall pay Executive: a lump sum equal to one (1) month's salary for each year of full-time employment with Employer, except that such sum shall be not less than twelve (12) month's salary and shall not exceed twenty-four (24) month's salary. (d) On termination of Executive's employment for cause during the Original Term of Employment pursuant to Paragraph 15(a), Executive shall receive no further salary. (e) On termination of Executive's employment without cause during the Original Term of Employment pursuant to Paragraph 15(c), Employer shall pay Executive a lump sum equal to the greater of the annual salary and benefits payable under this Agreement until the expriation date of the Original Term of Employment, or any renewals thereof, one (1) month's salary for each year of full-time employment with Employer, except that such sum shall be not less than twelve (12) month's salary and shall not exceed twenty-four (24) months' salary. In the event of a material breach of this Agreement by Employer that is not cured after notice from Executive, Executive may elect to treat such breach as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. (f) On termination of Executive's employment by Executive without cause either (i) during the Original Term of Employment pursuant to Paragraph 16(b), or (ii) after expiration of the Original Term of Employment if Executive's employment continues without written agreement, Employer shall pay Executive a lump sum equal to three (3) month's salary, and Executive shall be entitled to no other severance benefits, except as provided under Subparagraph 5(k). Notwithstanding the foregoing, if Executive’s termination is under the provisions of Subparagraph 5(h) regarding voluntary retirement after the age of sixty-two years and six months, the provisions of this Subparagraph 5(f) shall not be applicable and the provisions of Subparagraph 5(h) shall control. (g) If Executive's employment is terminated as a result of a hostile Change in Control (as defined below) of Employer, such termination shall be deemed a termination without cause under the provisions of Paragraph 5(e), except that Executive shall receive a severance amount equal to twice any amount due under Paragraph 5(e). Any termination of Executive in contemplation of or within twelve (12) months after such Change in Control, except a termination for cause under Paragraph 15(a), shall be deemed a termination under this Subparagraph (g). Further, if Executive's position is materially changed by Employer in contemplation of or within twelve (12) months after any such Change in Control, Executive may elect to treat such change as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. "Change of Control" means the election of new board members constituting a majority of the directors then in office, which new board members were not nominated by a majority of the directors in office on the date hereof.

Term of Employment, Expiration and Termination. (a) Subject to the provisions of Paragraphs Paragraphs' 15 and 16, the term of employment of Executive pursuant to this Agreement shall commence on January 1, 20032000, and shall continue through December 31, 2007 2002 (the "Original Term of Employment"). (b) Upon expiration of this Agreement, if Employer elects to not continue Executive's employment, Employer shall provide Executive notice of such fact and shall pay Executive: a lump sum equal to one (1) month's salary for each year of full-time employment with Employer, except that such sum shall be not less than twelve (12) month's salary and shall not exceed twenty-four (24) month's salary. (c) Upon expiration of this Agreement, if Employer elects to continue Executive's employment without a written employment agreement, Executive's employment shall be at will, except that Executive's employment may be terminated without cause by Employer after notice to Executive. Upon such termination Employer shall pay Executive: a lump sum equal to one (1) month's salary for each year of full-time employment with Employer, except that such sum shall be not less than twelve (12) month's salary and shall not exceed twenty-four (24) month's salary. (d) On termination of Executive's employment for cause during the Original Term of Employment pursuant to Paragraph 15(a), Executive shall receive no further salary. (e) On termination of Executive's employment without cause during the Original Term of Employment pursuant to Paragraph 15(c), Employer shall pay Executive a lump sum equal to the greater of the annual salary and benefits payable under this Agreement until the expiration date of the Original Term of Employment, or any renewals thereof, one (1) month's salary for each year of full-time employment with Employer, except that such sum shall be not less than twelve (12) month's salary and shall not exceed twenty-four (24) months' salary. In the event of a material breach of this Agreement by Employer that is not cured after notice from Executive, Executive may elect to treat such breach as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. (f) On termination of Executive's employment by Executive without cause either (i) during the Original Term Tenn of Employment pursuant to Paragraph 16(b), or (ii) after expiration of the Original Term Tenn of Employment if Executive's employment continues without written agreement, Employer shall pay Executive a lump sum equal to three (3) month's salary, and Executive shall be entitled to no other severance benefits, except as provided under Subparagraph 5(k). Notwithstanding the foregoing, if Executive’s termination is under the provisions of Subparagraph 5(h) regarding voluntary retirement after the age of sixty-two years and six months, the provisions of this Subparagraph 5(f) shall not be applicable and the provisions of Subparagraph 5(h) shall control. (g) If Executive's employment is terminated as a result of a hostile Change in Control (as defined below) of Employer, such termination shall be deemed a termination without cause under the provisions of Paragraph 5(e), except that Executive shall receive receive, a severance amount equal to twice any amount due under Paragraph 5(e). Any termination of Executive in contemplation of or within twelve (12) months after such Change in Control, except a termination for cause under Paragraph 15(a), shall be deemed a termination under this Subparagraph (g). Further, if Executive's position is materially changed by Employer in contemplation of or within twelve (12) months after any such Change in Control, Executive may elect to treat such change as a constructive termination under this subparagraph entitling Executive to the benefits hereunder. "Change of Control" means the election of new board members constituting a majority of the directors then in office, which new board members were not nominated by a majority of the directors in office on the date hereof.