TERMINATION FOR GOOD REASON OR OTHER THAN FOR CAUSE. In the event the Executive's employment hereunder is terminated (A) by the Executive for Good Reason or (B) by the Company other than for Cause or Disability (including, without limitation, by giving the Executive a Non-Renewal Notice pursuant to Section 1(a) hereof), the Executive shall be entitled, in addition to the other compensation and benefits herein provided for, to severance compensation in an aggregate amount equal to three (3) times his Base Salary at the rate in effect on the termination date, payable in thirty-six (36) substantially equal monthly installments commencing at the end of the calendar month in which the termination date occurs; provided, however, that if the Executive's employment is terminated within one (1) year following a Change in Control (other than a termination because of the Executive's death) or is terminated by the Company other than for Cause or Disability (including, without limitation, by giving the Executive a Non-Renewal Notice pursuant to Section 1(a) hereof) in anticipation of a Change in Control, the severance compensation payable to the Executive (i) shall be increased by an amount equal to three (3) times the average annual total bonuses paid by the Company to the Executive during the three-year period (or such shorter period as the Executive may have been employed by the Company) preceding the date on which the notice of termination is given and (ii) shall be payable in one lump sum on the effective date of such termination; and provided, further, that if the Executive's employment is terminated within one (1) year following a Change in Control for Disability, the Executive must return to the Company any disability insurance proceeds actually paid to the Executive or for his benefit during the three-year period following the effective date of such termination (but only those proceeds from disability insurance provided by the Company to the Executive pursuant to Section 4(a) hereof).
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Samples: Employment Agreement (Key Energy Services Inc), Employment Agreement (Key Energy Services Inc)
TERMINATION FOR GOOD REASON OR OTHER THAN FOR CAUSE. In the event the Executive's employment hereunder is terminated (A) by the Executive for Good Reason or (B) by the Company other than (x) for Cause Cause, (y) Disability, or Disability (including, without limitation, z) by giving the Executive a Non-Renewal Notice pursuant to Section 1(a) hereof), the Executive shall be entitled, in addition to the other compensation and benefits herein provided for, to (A) severance compensation in an aggregate amount equal to three (3) times his Base Salary at the rate in effect on the termination date, payable in thirty-six (36) substantially equal monthly installments commencing at the end of the calendar month in which the termination date occurs; providedoccurs and (B) payment, howeveron the dates specified therefor, that if of the bonuses set forth in Section 2(d) hereof. If Executive's employment is terminated within one (1) year following a Change in Control (other than a termination because of the Executive's death) or is terminated by the Company other than for Cause or Disability (including, without limitation, by Company's giving the Executive a Non-Renewal Notice pursuant to Section 1(a1(f) hereof, the Executive shall be entitled, in addition to the other compensation and benefits herein provided for, and in lieu of the compensation under clause (A) in anticipation of a Change in Controlthe preceding sentence, the severance compensation payable in an aggregate amount equal to the Executive greater of (i) shall be increased by an amount equal to three (3) times the average annual total bonuses paid by the Company to the Executive during the three-year period (or such shorter period as the Executive may have been employed by the Company) preceding the date on which the notice of termination is given and (ii) shall be payable in one lump sum on the effective date of such termination; and provided, further, that if the Executive's employment is terminated within one (1) year following a Change times his Base Salary at the rate in Control effect on the termination date, payable in twelve (12) substantially equal monthly installments commencing at the end of the calendar month in which the termination date occurs or (ii) the highest multiple of Base Salary in effect for Disabilitynonrenewal under any other executive officer's contract in effect at the time of non-renewal under this Agreement, payable in comparable installments; provided that clause (ii) will only apply to increase the Executive must return to severance beyond one year's salary if the Company any disability insurance proceeds actually paid to other executive's contract was also either in effect on the Executive Commencement Date or for his benefit during the three-year period following the effective date of such termination (but only those proceeds from disability insurance provided approved by the Company to Compensation Committee after the Executive pursuant to Section 4(a) hereof)Commencement Date.
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TERMINATION FOR GOOD REASON OR OTHER THAN FOR CAUSE. In the event the Executive's employment hereunder is terminated (A) by the Executive for Good Reason or (B) by the Company other than for Cause or Disability (including, without limitation, by giving the Executive a Non-Renewal Notice pursuant to Section 1(a) hereof), the Executive shall be entitled, in addition to the other compensation and benefits herein provided for, to severance compensation in an aggregate amount equal to three (3) times his Base Salary at the rate in effect on the termination date, payable in thirty-six (36) substantially equal monthly installments commencing at the end of the calendar month in which the termination date occurs; provided, however, that if the Executive's employment is terminated within one (1) year following a Change in Control (other than a termination because of the Executive's death) or is terminated by the Company other than for Cause or Disability (including, without limitation, by giving the Executive a Non-Renewal Notice notice pursuant to Section 1(a) hereof) in anticipation of a Change in Control, the severance compensation payable to the Executive (i) shall be increased by an amount equal to three (3) times the average annual total bonuses paid by the Company to the Executive during the three-year period (or such shorter period as the Executive may have been employed by the Company) preceding the date on which the notice of termination is given and (ii) shall be payable in one lump sum on the effective date of such termination; and provided, further, that if the Executive's employment is terminated within one (1) year following a Change in Control for Disability, the Executive must return to the Company any disability insurance proceeds actually paid to the Executive or for his benefit during the three-year period following the effective date of such termination (but only those proceeds from disability insurance provided by the Company to the Executive executive pursuant to Section 4(a) hereof).
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