Common use of Termination of Employment and Compensation Thereafter Clause in Contracts

Termination of Employment and Compensation Thereafter. Upon termination of Employee’s employment, Employer shall make (a) the payments described in the respective subsection below as applicable to the circumstances of termination and (b) any other payments then required to be made by law or by the terms of any pension plan (including without limitation, the so-called 70/80 retirement benefit) or other benefit plan or insurance policy in which Employee is a participant or by which Employee is covered, but shall have no further obligation to Employee.