Common use of Termination of Employment, Death or Disability Clause in Contracts

Termination of Employment, Death or Disability. If the Executive's employment by the Company (i) terminates by reason of death or disability, or (ii) is terminated by the Company other than for Cause, or by the Executive for Good Reason, the Transaction Bonus Award applicable to (x) any Transaction for which the Transaction Date has theretofore occurred shall be paid in a lump sum cash payment, without interest or earnings, immediately, upon such termination and (y) any Transaction for which a definitive agreement is signed by all necessary parties prior to the Executive's termination of employment and for which a Transaction Date occurs subsequent to Executive's termination of employment shall be paid in a lump sum cash payment, without interest or earnings, within two business days after the Transaction Date occurs. If the Executive's employment by the Company is terminated by the Company for Cause or by the Executive other than for Good Reason, any Transaction Bonus Award applicable to any Transaction for which the Transaction Date has theretofore occurred shall be cancelled and shall not be paid.