Common use of Termination by the Company Other Than for Cause or by the Executive for Good Reason Clause in Contracts

Termination by the Company Other Than for Cause or by the Executive for Good Reason. Subject to the provisions of Section 8(e), if, during the Employment Period, the Company terminates the Executive’s employment other than for Cause or the Executive terminates his employment for Good Reason (each such termination an “Involuntary Termination”), the Executive shall, in addition to the amounts provided in Section 8(a), be entitled to receive (i) continuation of the Executive’s Base Salary in effect at the Date of Termination (the “Continued Salary”) for a period beginning on the Date of Termination and ending 18 months later (the “Continuation Period”); and (ii) continued participation in the group life insurance and group medical and dental plans for the Executive, his spouse and his dependents, as applicable, on the same terms as such plans are being provided to all of the Company’s United States senior executives during the Continuation Period (or such longer period as is provided in such plans) and subject to the payment of the applicable monthly premiums paid by active senior executives for the same coverage. The Continued Salary shall be payable in accordance with Section 3(a) as if the Executive remained a senior executive of the Company, or at the Company’s discretion, may be paid in a single lump sum not more than thirty days following the Date of Termination.

Appears in 3 contracts

Samples: Employment Agreement (Ws Financing Corp), Employment Agreement (Ws Financing Corp), Employment Agreement (Worldspan L P)

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Termination by the Company Other Than for Cause or by the Executive for Good Reason. Subject to the provisions of Section 8(e), if, during the Employment Period, the Company terminates the Executive’s 's employment other than for Cause or the Executive terminates his her employment for Good Reason (each such termination an "Involuntary Termination"), the Executive shall, in addition to the amounts provided in Section 8(a), be entitled to receive (i) continuation of the Executive’s 's Base Salary in effect at the Date of Termination (the "Continued Salary") for a period beginning on the Date of Termination and ending 18 months later (the "Continuation Period"); and (ii) continued participation in the group life insurance and group medical and dental plans for the Executive, his her spouse and his her dependents, as applicable, on the same terms as such plans are being provided to all of the Company’s 's United States senior executives during the Continuation Period (or such longer period as is provided in such plans) and subject to the payment of the applicable monthly premiums paid by active senior executives for the same coverage. The Continued Salary shall be payable in accordance with Section 3(a) as if the Executive remained a senior executive of the Company, or at the Company’s 's discretion, may be paid in a single lump sum not more than thirty days following the Date of Termination.

Appears in 1 contract

Samples: Employment Agreement (Worldspan L P)

Termination by the Company Other Than for Cause or by the Executive for Good Reason. Subject to the provisions of Section 8(e), if, during the Employment Period, the Company terminates the Executive’s employment other than for Cause or the Executive terminates his her employment for Good Reason (each such termination an “Involuntary Termination”), the Executive shall, in addition to the amounts provided in Section 8(a), be entitled to receive (i) continuation of the Executive’s Base Salary in effect at the Date of Termination (the “Continued Salary”) for a period beginning on the Date of Termination and ending 18 months later (the “Continuation Period”); and (ii) continued participation in the group life insurance and group medical and dental plans for the Executive, his her spouse and his her dependents, as applicable, on the same terms as such plans are being provided to all of the Company’s United States senior executives during the Continuation Period (or such longer period as is provided in such plans) and subject to the payment of the applicable monthly premiums paid by active senior executives for the same coverage. The Continued Salary shall be payable in accordance with Section 3(a) as if the Executive remained a senior executive of the Company, or at the Company’s discretion, may be paid in a single lump sum not more than thirty days following the Date of Termination.

Appears in 1 contract

Samples: Employment Agreement (Ws Financing Corp)

Termination by the Company Other Than for Cause or by the Executive for Good Reason. Subject to the provisions of Section 8(e), if, during the Employment Period, the Company terminates the Executive’s employment other than for Cause or the Executive terminates his employment for Good Reason (each such termination an “Involuntary Termination”), the Executive shall, in addition to the amounts provided in Section 8(a), be entitled to receive (i) continuation of the Executive’s Base Salary in effect at the Date of Termination (the “Continued Salary”) for a period beginning on the Date of Termination and ending 18 months later (the “Continuation Period”); (ii) the Prorated Performance Bonus and (iiiii) continued participation in the group life insurance and group medical and dental plans for the Executive, his spouse and his dependents, as applicable, on the same terms as such plans are being provided to all of the Company’s United States senior executives during the Continuation Period (or such longer period as is provided in such plans) and subject to the payment of the applicable monthly premiums paid by active senior executives for the same coverage. The Continued Salary shall be payable in accordance with Section 3(a) as if the Executive remained a senior executive of the Company, or at the Company’s discretion, may be paid in a single lump sum not more than thirty days following the Date of Termination.

Appears in 1 contract

Samples: Employment Agreement (Worldspan L P)

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Termination by the Company Other Than for Cause or by the Executive for Good Reason. Subject to the provisions of Section 8(e), if, during the Employment Period, the Company terminates the Executive’s 's employment other than for Cause or the Executive terminates his employment for Good Reason (each such termination an "Involuntary Termination"), the Executive shall, in addition to the amounts provided in Section 8(a), be entitled to receive (i) continuation of the Executive’s 's Base Salary in effect at the Date of Termination (the "Continued Salary") for a period beginning on the Date of Termination and ending 18 months later (the "Continuation Period"); (ii) the Prorated Performance Bonus and (iiiii) continued participation in the group life insurance and group medical and dental plans for the Executive, his spouse and his dependents, as applicable, on the same terms as such plans are being provided to all of the Company’s 's United States senior executives during the Continuation Period (or such longer period as is provided in such plans) and subject to the payment of the applicable monthly premiums paid by active senior executives for the same coverage. The Continued Salary shall be payable in accordance with Section 3(a) as if the Executive remained a senior executive of the Company, or at the Company’s 's discretion, may be paid in a single lump sum not more than thirty days following the Date of Termination.

Appears in 1 contract

Samples: Employment Agreement (Worldspan L P)

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