Common use of Termination by the Employer Without Cause Clause in Contracts

Termination by the Employer Without Cause. The Executive’s employment may be terminated by the Employer without Cause upon thirty days’ prior written notice of such termination, in which case the Executive will be entitled to the following benefits: (i) The Employer will pay the Executive in a lump sum cash payment within ten days after the Date of Termination (as defined below) the following: (1) the Executive’s base salary then in effect through the Date of Termination; and (2) the amount, if any, of any incentive or bonus compensation theretofore earned which has not yet been paid. (ii) For the two year period subsequent to the Date of Termination the Employer shall continue to pay the Executive his/her base salary in effect on the Date of Termination, such payments to be made on the same periodic dates as salary payments would have been made to the Executive had his/her employment not been terminated. (iii) For the two year period subsequent to the Date of Termination the Executive shall continue to receive medical and other insurance benefits pursuant to plans made available by the Employer to its officers and employees at the expense of the Employer to substantially the same extent the Executive received such benefits on the Date of Termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the Date of Termination). For purposes of the application of such benefits, the Executive shall be treated as if he/she had remained in the employ of the Employer, with an annual salary at the rate in effect on the Date of Termination. (iv) The Employer’s obligation to provide the Executive with medical and insurance benefits pursuant to Section 2(d)(iii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him/her in connection with such employment that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employer.

Termination by the Employer Without Cause. The Executive’s For purposes of this ----------------------------------------- Agreement, the employment of the Employee may be terminated by the Employer at any time without Cause upon thirty days’ prior (30) days written notice to the Employee. Upon such termination, the Employer shall pay to the Employee his base salary plus two additional weeks of salary and provide at its expense such welfare benefit plan coverage to the Employee as he would have received if still employed during the period commencing on the effective date of such termination and ending on the later of (i) the next scheduled termination date of the employment of the Employee; or (ii) the date that is one (1) year following the date of such termination, in which case the Executive will be entitled . The Employer also shall pay Employee an amount equal to the last annual bonus payment paid to the Employee, which bonus payment shall be paid within thirty (30) days following benefits: (i) the date of termination. The Employer will shall have the option to pay the Executive such base salary in a lump sum cash payment within ten days after or at the Date same time and in the same manner as if the Employee were still employed. During this period, the benefit arrangement shall include the spouse and dependents of Termination (as defined below) the following: (1) Employee at the Executive’s base salary then in effect through same coverage level and on the same terms and conditions which applied immediately prior to the Date of Termination; and (2) . If, however, as the amountresult of the termination of the Employee's employment, if anythe Employee and/or his otherwise eligible dependents or beneficiaries shall become ineligible for benefits under any one or more of the Employer's benefit plans, of any incentive or bonus compensation theretofore earned which has not yet been paid. (ii) For the two year period subsequent to the Date of Termination the Employer at its expense shall continue to pay provide the Executive his/her base salary in effect on the Date of TerminationEmployee and his eligible dependents or beneficiaries, such payments to be made on the same periodic dates as salary payments would have been made through direct payment or other sources, with benefits at a level substantially equivalent to the Executive had his/her employment not been terminated. (iii) For level of benefits for which the two year period subsequent Employee and his dependents and beneficiaries were eligible under such plans immediately prior to the Date of Termination the Executive shall continue to receive medical and other insurance benefits pursuant to plans made available by the Employer to its officers and employees at the expense date of the Employee's termination of employment. The Employer to substantially the same extent the Executive received such benefits on the Date of Termination (it being acknowledged that the post-termination plans may shall not be different from the plans in effect on the Date of Termination). For purposes of the application of responsible for continuing such benefits, however, upon the Executive date the Employee and his dependents become eligible to participate in a welfare benefit plan without any limitation for pre-existing conditions. The Employee shall only be treated as if he/she had remained in the employ entitled to receive compensation pursuant to this section upon his execution of a release of the Employer, with an annual salary at the rate in effect on the Date of Termination. (iv) The Employer’s obligation Employee as to provide the Executive with medical and insurance benefits pursuant to Section 2(d)(iii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him/her all matters arising in connection with such his employment that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employerand termination.

Termination by the Employer Without Cause. The Term and Executive’s employment hereunder may be terminated by the Employer at any time without Cause upon Cause, effective thirty days’ prior (30) days following the date on which a written notice of to such terminationeffect is delivered to Executive. If Executive’s employment hereunder is terminated during the Term by the Employer other than for Cause, in which case the Executive will be entitled and other than due to the following benefits: (i) The Employer will pay the Executive in a lump sum cash payment within ten days after the Date of Termination Executive’s death or “Disability” (as defined below) the following: ), then Executive shall be entitled to (1) the Executive’s base salary then in effect through the Date of Termination; Accrued Benefits and (2) upon Executive’s execution Rxxxxx Xxxxxxxx 4 Employment Agreement of a separation agreement containing a general release of claims in a form acceptable to the amountCompany (the “Release”), if anyand the expiration of the applicable revocation period with respect to such Release within sixty (60) days following the date of termination, and provided that Executive is in continued compliance with the Restrictive Covenants and any other ongoing obligation to which Executive is subject as of any incentive or bonus compensation theretofore earned which has not yet been paid.the date of termination: (ii1) For The continuation of Executive’s then-current Base Compensation, to be paid in equal installments in accordance with the two year period subsequent to regular payroll practices of the Date of Termination the Employer shall Company will continue to pay be paid for the “Non-Compete Period” (as defined in Section 7(c)(2)) which extends following the termination of Executive his/her base salary in effect employment, commencing on the Date first payroll date following the date of Terminationtermination, such payments but with the first actual payment to be made on the same periodic dates as salary payments would have been made sixtieth (60th) day following the date of termination, which payment shall consist of all amounts otherwise payable to Executive pursuant to this subsection (1) between the date of termination and the sixtieth (60th) day following the date of termination; and (2) An amount equal to the Executive had his/her employment not been terminated. (iii) For average Annual Bonus earned and paid in respect of the two year period subsequent three years completed prior to the Date year of Termination the termination, provided that if Executive shall continue to receive medical and other insurance benefits pursuant to plans made available by the Employer to its officers and employees at the expense of the Employer to substantially the same extent the Executive has not received such benefits on the Date of Termination (it being acknowledged that the post-termination plans may be different from the plans in effect on the Date of Termination). For purposes of the application of such benefits, the Executive shall be treated as three Annual Bonuses or if he/she had remained in the employ of the Employer, with an annual salary at the rate in effect on the Date of Termination. (iv) The Employer’s obligation to provide the Executive with medical and insurance benefits pursuant to Section 2(d)(iii) hereof shall terminate there were no Annual Bonuses paid with respect to each particular type any of insurance the three years prior to the year of termination, such average shall be calculated with respect to the lesser number of years for which Executive received a non-zero Annual Bonus, pro-rated based on the number of days in the event which Executive actively served as the Executive becomes employed and has made available Vice President, Direct Auto Lending Operations during such year (a “Pro-Rata Bonus”), to him/her be paid at such time as Annual Bonuses are normally paid in connection accordance with such employment that particular type of insuranceSection 4(b). Notwithstanding the foregoing, so long as such insurance if the Company is substantially similar subject to the insurance provided by provisions of Section 162(m) of the EmployerInternal Revenue Code of 1986, as amended (the “Code”), and intends that Annual Bonus payments are to qualify as “qualified performance-based compensation” under Section 162(m) of the Code, the Pro-Rata Bonus shall be determined based on actual performance for the year in which the termination occurs and shall be paid at the time bonuses are paid to employees generally.

Termination by the Employer Without Cause. The Executive’s For purposes of ----------------------------------------- this Agreement, the employment of the Employee may be terminated by the Employer at any time without Cause upon thirty days’ prior (30) days written notice to the Employee. Upon such termination, the Employer shall pay to the Employee his base salary plus two additional weeks of salary and provide at its expense such welfare benefit plan coverage to the Employee as he would have received if still employed during the period commencing on the effective date of such termination and ending on the later of (i) the next scheduled termination date of the employment of the Employee; or (ii) the date that is one (1) year following the date of such termination, in which case the Executive will be entitled . The Employer also shall pay Employee an amount equal to the last annual bonus payment paid to the Employee, which bonus payment shall be paid within thirty (30) days following benefits: (i) the date of termination. The Employer will shall have the option to pay the Executive such base salary in a lump sum cash payment within ten days after or at the Date same time and in the same manner as if the Employee were still employed. During this period, the benefit arrangement shall include the spouse and dependents of Termination (as defined below) the following: (1) Employee at the Executive’s base salary then in effect through same coverage level and on the same terms and conditions which applied immediately prior to the Date of Termination; and (2) . If, however, as the amountresult of the termination of the Employee's employment, if anythe Employee and/or his otherwise eligible dependents or beneficiaries shall become ineligible for benefits under any one or more of the Employer's benefit plans, of any incentive or bonus compensation theretofore earned which has not yet been paid. (ii) For the two year period subsequent to the Date of Termination the Employer at its expense shall continue to pay provide the Executive his/her base salary in effect on the Date of TerminationEmployee and his eligible dependents or beneficiaries, such payments to be made on the same periodic dates as salary payments would have been made through direct payment or other sources, with benefits at a level substantially equivalent to the Executive had his/her employment not been terminated. (iii) For level of benefits for which the two year period subsequent Employee and his dependents and beneficiaries were eligible under such plans immediately prior to the Date of Termination the Executive shall continue to receive medical and other insurance benefits pursuant to plans made available by the Employer to its officers and employees at the expense date of the Employee's termination of employment. The Employer to substantially the same extent the Executive received such benefits on the Date of Termination (it being acknowledged that the post-termination plans may shall not be different from the plans in effect on the Date of Termination). For purposes of the application of responsible for continuing such benefits, however, upon the Executive date the Employee and his dependents become eligible to participate in a welfare benefit plan without any limitation for pre-existing conditions. The Employee shall only be treated as if he/she had remained in the employ entitled to receive compensation pursuant to this section upon his execution of a release of the Employer, with an annual salary at the rate in effect on the Date of Termination. (iv) The Employer’s obligation Employee as to provide the Executive with medical and insurance benefits pursuant to Section 2(d)(iii) hereof shall terminate with respect to each particular type of insurance in the event the Executive becomes employed and has made available to him/her all matters arising in connection with such his employment that particular type of insurance, so long as such insurance is substantially similar to the insurance provided by the Employerand termination.