Common use of TERMINATION AND EFFECTS OF TERMINATION Clause in Contracts

TERMINATION AND EFFECTS OF TERMINATION. Should Employee remain employed by Employer beyond the expiration of the Term specified on Exhibit "A," such employment shall convert to a month-to- month relationship terminable at any time by either Employer or Employee for any reason whatsoever, with or without cause. Upon such termination of the employment relationship by either Employer or Employee for any reason whatsoever, all future compensation to which Employee is entitled and all future benefits for which Employee is eligible shall cease and terminate. Employee shall be entitled to pro rata salary through the date of such termina tion, but Employee shall not be entitled to any individual bonuses or individual incentive compensation not yet paid at the date of such termination. Nothing herein precludes Employee from participating in any severance program or policy instituted by the Employer under which Employee is otherwise eligible.