Common use of Termination by OMNI Without Cause Clause in Contracts

Termination by OMNI Without Cause. OMNI may terminate Employee’s employment at any time during the Term Without Cause by delivery of thirty (30) days prior written notice to Employee. After such termination of employment, if Employee is not in breach of his obligations under this Agreement and subject to Section 6(e) hereof, OMNI shall pay to Employee: (i) the Annual Base Salary then in effect in semi-monthly payments and in accordance with OMNI’s normal payroll practices for a period of twelve (12) months, (ii) vacation pay earned but not taken to the date of such termination, and (iii) a pro rata payment of the Annual Bonus, if any, for the year in which termination of employment occurs, determined by multiplying the amount of the Annual Bonus that Employee would have received if Employee had been employed on the last day of the fiscal year in which termination of employment occurs (if any, as determined by the Board in its sole discretion) by a fraction, the numerator of which is the days in such fiscal year that Employee was employed and the denominator of which is the number of days in such fiscal year (a “Prorated Bonus”). Upon termination of Employee’s employment, Employee shall be deemed to have resigned from all offices, directorships, and committee positions then held with OMNI or any Affiliate.