Common use of Termination by the Employer Clause in Contracts

Termination by the Employer. on Account of or After a Change in -------------------------------------------------------------- Control. In the event the Employee's employment with the Employer is terminated ------- by the Employer "in connection with a Change in Control" as described in subparagraph 1.2(a) and as defined in subparagraph 1.4 above, the Employee shall be entitled to be paid the Applicable Percentage of the Employee Benefits specified in Schedule "B", in substantially equal monthly installments on the first day of each month, beginning with the month following the month in which the Employee attains fifty-nine and one-half (59.5) years of age or any month thereafter, as requested in writing by the Employee and delivered to the Employer or its successor thirty (30) days prior to the commencement of installment payments; provided, however, that in the event the Employee does not request a commencement date as specified, such installments shall be paid on the first day of each month, beginning with the month following the month in which the Employee attains sixty-two (62) years of age. The installments shall be payable (i) for the period designated in Schedule "F" in the case of the balance in the Benefit Account and (ii) until the Employee's death in the case of the Index Benefit defined in Schedule "B".