Common use of Termination due to Employer Non-Renewal Clause in Contracts

Termination due to Employer Non-Renewal. (a) Upon an Employer Non-Renewal (as defined below), Employee shall be entitled to receive (i) accrued and unpaid Base Salary or Annual Bonus earned for any year prior to the year of termination, but not yet paid as of the date of termination of employment, which shall be paid in a lump sum within thirty (30) days after the date of Employee’s termination of employment (or as otherwise required by applicable law) or, in respect of the Annual Bonus, on the scheduled payment date in accordance with Subsection 3.2, and (ii) continued payment of the Base Salary in effect as of the date of Employee’s termination of employment as if Employee had remained employed through the end of the six (6) month period immediately following Employee’s termination of employment (the “Post-Term Continuation Payments” and such period, the “Post-Term Continuation Period”).