Common use of TERMINATION OR CESSATION OF EMPLOYMENT WITHOUT CAUSE Clause in Contracts

TERMINATION OR CESSATION OF EMPLOYMENT WITHOUT CAUSE. In the event that Executive's employment is terminated or ceased without cause, all compensation shall cease, but the Company shall be obligated to compensate the Executive with lump sum severance pay equal to the present value of his salary otherwise payable during the Term of this Agreement. In the event Executive's employment is terminated pursuant to this Section 3.3, the Executive shall be entitled to participate in the bonus payable pursuant to Section 2.2 with respect to the year in which his employment is terminated pro rated for the year based on the number of full months employed during such year compared to 12; and provided further that the non-competition covenant in Section 4.1(c) below shall be automatically terminated.

TERMINATION OR CESSATION OF EMPLOYMENT WITHOUT CAUSE. In If the event that Executive's employment is terminated or ceased without cause, all compensation shall cease, but the Company shall be obligated to compensate the Executive with a lump sum severance pay payment equal to the present value of his salary otherwise payable during the remaining Term of this Agreement. In the event the Executive's employment is terminated pursuant to this Section 3.3, the Executive shall be entitled to participate in the bonus payable pursuant to Section 2.2 2.2, with respect to the year in which his employment is terminated pro rated terminated, prorated for the year based on the number of full months employed during such year compared to 12; and provided further that . In addition, the non-competition covenant in Section 4.1(c4.1(b) below shall be automatically terminatedterminated on the effective date of any termination of Executive's employment without cause.

TERMINATION OR CESSATION OF EMPLOYMENT WITHOUT CAUSE. In If the event that Executive's employment is terminated or ceased without cause, all compensation shall cease, but the Company shall be obligated to compensate the Executive with a lump sum severance pay payment equal to the present value of his salary otherwise payable during the remaining Term of this Agreement. In the event the Executive's employment is terminated pursuant to this Section 3.3, the Executive shall be entitled to participate in the bonus payable pursuant to Section 2.2 SECTION 2.2, with respect to the year in which his employment is terminated pro rated terminated, prorated for the year based on the number of full months employed during such year compared to 12; and provided further that . In addition, the non-competition covenant in Section 4.1(c) below shall be automatically terminatedterminated on the effective date of any termination of Executive's employment without cause.

TERMINATION OR CESSATION OF EMPLOYMENT WITHOUT CAUSE. In If the event that Executive's employment is terminated or ceased without cause, all compensation shall cease, but the Company shall be obligated to compensate the Executive with a lump sum severance pay payment equal to the present value of his salary otherwise payable during the remaining Term of this Agreement. In the event the Executive's employment is terminated pursuant to this Section section 3.3, the Executive shall be entitled to participate in the bonus payable pursuant to Section 2.2 SECTION 2.2, with respect to the year in which his employment is terminated pro rated terminated, prorated for the year based on the number of full months employed during such year compared to 12; and provided further that . In addition, the non-competition covenant in Section SECTION 4.1(c) below shall be automatically terminatedterminated on the effective date of any termination of Executive's employment without cause.

TERMINATION OR CESSATION OF EMPLOYMENT WITHOUT CAUSE. In If the event that Executive's employment is terminated or ceased without cause, all compensation shall cease, but the Company shall be obligated to compensate the Executive with a lump sum severance pay payment equal to the present value of his salary otherwise payable during the remaining Term of this Agreement. In the event the Executive's employment is terminated pursuant to this Section 3.3, the Executive shall be entitled to participate in the bonus payable pursuant to Section 2.2 2.2, with respect to the year in which his employment is terminated pro rated terminated, prorated for the year based on the number of full months employed during such year compared to 12; and provided further that . In addition, the non-competition covenant in Section 4.1(c) below shall be automatically terminatedterminated on the effective date of any termination of Executive's employment without cause.