Common use of Termination Pay Clause in Contracts

Termination Pay. Effective upon the expiration or termination of this Agreement, the Company will be obligated to pay the Employee (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is provided in this Section 6.5. For purposes of this Section 6.5 the Employee's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee may designate by notice to the Company from time to time or, if the Employee fails to give notice to the Company of such a beneficiary, the Employee's estate. Notwithstanding the preceding sentence, the Company will have no duty, in any circumstances, to attempt to open an estate on behalf of the Employee, to determine whether any beneficiary designated by the Employee is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person purporting to act as the Employee's personal representative (or the trustee of a trust established by the Employee) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this Agreement, the Company Employer will be obligated to pay the Employee Executive (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is provided in this Section 6.5, and in lieu of all other amounts and in settlement and complete release of (i) all claims the Executive may have against the Employer or Craftmade, or any of its affiliates, arising out of or pursuant to this Agreement and (ii) all claims the Employer or Craftmade may have against the Executive arising out of or pursuant to this Agreement. For purposes of this Section 6.5 6.5, the EmployeeExecutive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company Employer from time to time or, if the Employee Executive fails to give notice to the Company Employer of such a beneficiary, the EmployeeExecutive's estate. Notwithstanding the preceding sentence, the Company Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the EmployeeExecutive's personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this AgreementAgreement for any of the reasons set forth in section10(a), the Company will shall be obligated to pay the Employee Executive (or, or in the event of his death, his designated beneficiary as defined below) only such the compensation as is provided in this section 10(e), as well as all business expenses recoverable under Section 6.57. For purposes of this Section 6.5 section 10(e), the EmployeeExecutive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company from time to time or, or if the Employee Executive fails to give notice to the Company of such a beneficiary, the EmployeeExecutive's estate. Notwithstanding the preceding sentence, sentence the Company will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the EmployeeExecutive's personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that capacity, capacity or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this Agreement, the Company Employer will be obligated to pay the Employee Executive (or, in the event of his Executive's death, his Executive's designated beneficiary as defined below) only such compensation as is provided in this Section 6.56.5 or Section 6.6. For purposes of this Section 6.5 6.5, the EmployeeExecutive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company Employer from time to time or, if the Employee Executive fails to give notice to the Company Employer of such a beneficiary, the EmployeeExecutive's estate. Notwithstanding the preceding sentence, the Company Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the EmployeeExecutive's personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this Agreement, the Company Employer will be obligated to pay the Employee Executive (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is provided in this Section 6.5, and in lieu of all other amounts. For purposes of this Section 6.5 6.5, the EmployeeExecutive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company Employer from time to time or, if the Employee Executive fails to give notice to the Company Employer of such a beneficiary, the EmployeeExecutive's estate. Notwithstanding the preceding sentence, the Company will Employer shall have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the EmployeeExecutive's personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this Agreement, the Company Employer will be obligated to pay the Employee (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is provided in this Section 6.59(d), and in lieu of all other amounts, and such payment shall be in settlement and complete release of all claims the Employee may have against the Employer for any amounts due and owing to Employee under this or any other agreement. For purposes of this Section 6.5 9(d), the Employee's ’s designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee may designate by notice to the Company Employer from time to time or, if the Employee fails to give notice to the Company Employer of such a beneficiary, the Employee's ’s estate. Notwithstanding the preceding sentence, the Company Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of the Employee, to determine whether any beneficiary designated by the Employee is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the Employee's ’s personal representative (or the trustee of a trust established by the Employee) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this Agreement, the Company Employer will be obligated to pay the Employee (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is provided in this Section 6.56.6, and in lieu of all other Salary or Bonus, which shall be in settlement and complete release of all claims Employee may have against the Employer Group. For purposes of this Section 6.5 the 6.6, Employee's ’s designated beneficiary will be Employee’s spouse or such other individual beneficiary or trust, located at such address, as the Employee may designate by notice to the Company Employer from time to time or, if the Employee fails to give notice to the Company of such a beneficiary, the Employee's estatetime. Notwithstanding the preceding sentence, the Company Employer will have no duty, in under any circumstances, to attempt to open an estate on behalf of the Employee, to determine whether any beneficiary designated by the Employee is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the Employee's ’s personal representative (or the trustee of a trust established by the Employee) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, representative or trustee.

Termination Pay. Effective upon the expiration or termination of this AgreementAgreement for any of the reasons set forth in xxxxxxx00 (a), the Company will shall be obligated to pay the Employee Executive (or, or in the event of his death, his designated beneficiary as defined below) only such compensation the amounts set forth below, as is provided in this well as all business expenses recoverable under Section 6.58. For purposes of this Section 6.5 section ·11 (e), the EmployeeExecutive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company from time to time or, or if the Employee Executive fails to give notice to the Company of such a beneficiary, the EmployeeExecutive's estate. Notwithstanding the preceding sentence, sentence the Company will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the EmployeeExecutive's personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that capacity, capacity or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this AgreementAgreement for any of the reasons set forth in section10(a), the Company will shall be obligated to pay the Employee Executive (or, or in the event of his death, his designated beneficiary as defined below) only such the compensation as is provided in this section 11(e), as well as all business expenses recoverable under Section 6.58. For purposes of this Section 6.5 section 10(e), the EmployeeExecutive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company from time to time or, or if the Employee Executive fails to give notice to the Company of such a beneficiary, the EmployeeExecutive's estate. Notwithstanding the preceding sentence, sentence the Company will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the EmployeeExecutive's personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that capacity, capacity or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this --------------- Agreement, the Company Employer will be obligated to pay the Employee Executive (or, in the event of his Executive's death, his Executive's designated beneficiary as defined below) only such compensation as is provided in this Section 6.56.5 or Section 6.6. For purposes of this Section 6.5 6.5, the EmployeeExecutive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company Employer from time to time or, if the Employee Executive fails to give notice to the Company Employer of such a beneficiary, the EmployeeExecutive's estate. Notwithstanding the preceding sentence, the Company Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the EmployeeExecutive's personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this AgreementTermination Date, the Company Employer will be obligated to pay the Employee Executive (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is provided in this Section 6.56.3, and in settlement and complete release (in a form mutually acceptable to the parties) of all claims Executive may have against Employer. For purposes of this Section 6.5 the Employee's 6.3, Executive’s designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company Employer from time to time or, if the Employee Executive fails to give notice to the Company Employer of such a beneficiary, the Employee's Executive’s estate. Notwithstanding the preceding sentence, the Company Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the Employee's Executive’s personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this AgreementAgreement for any of the reasons set forth in sxxxxxx00(a), the Company will shall be obligated to pay the Employee Executive (or, or in the event of his death, his designated beneficiary as defined below) only such compensation the amounts set forth below, as is provided in this well as all business expenses recoverable under Section 6.58. For purposes of this Section 6.5 section 11(e), the EmployeeExecutive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company from time to time or, or if the Employee Executive fails to give notice to the Company of such a beneficiary, the EmployeeExecutive's estate. Notwithstanding the preceding sentence, sentence the Company will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the EmployeeExecutive's personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that capacity, capacity or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this Agreement, the Company Employer will be obligated to pay the Employee Executive (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is 3 Initials _________ ________ Executive Employer provided in this Section 6.55.5. For purposes of this Section 6.5 5.5, the EmployeeExecutive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company Employer from time to time or, if the Employee Executive fails to give notice to the Company Employer of such a beneficiary, the EmployeeExecutive's estate. Notwithstanding the preceding sentence, the Company Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the EmployeeExecutive's personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.

Termination Pay. Effective upon the expiration or termination of this Agreement for the reasons set forth in this Agreement, except as otherwise may be prohibited or limited by the Company EESA, as implemented by guidance or regulation thereunder applicable to MetroCorp, Employer will be obligated to pay the Employee Executive (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is provided in this Section 6.5, and in lieu of all other amounts and in settlement and complete release of all claims the Executive may have against the Employer for termination pursuant to Section 6 hereof. For purposes of this Section 6.5 6.5, the Employee's Executive’s designated beneficiary will be such individual beneficiary or trust, located at such address, as the Employee Executive may designate by notice to the Company Employer from time to time or, if the Employee Executive fails to give notice to the Company Employer of such a beneficiary, the Employee's Executive’s estate. Notwithstanding the preceding sentence, the Company Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeExecutive, to determine whether any beneficiary designated by the Employee Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the Employee's Executive’s personal representative (or the trustee of a trust established by the EmployeeExecutive) is duly authorized to act in that the capacity, or to locate or attempt to locate any beneficiary, personal representative, representative or trustee.

Termination Pay. Effective upon the expiration or termination of this Agreement, the Company will be obligated to pay the Employee Attorney (or, in the event of his death, his heirs, estate or designated beneficiary as defined below) only such compensation as is provided in this Section 6.56.2, and in lieu of all other amounts and in settlement and complete release of all claims the Attorney or his heirs may have against the Company. Upon the termination of this Agreement, Attorney or his designated beneficiary, heirs or estate will be entitled to receive the fees due for services provided by Attorney prior to the termination of this Agreement, any accrued and unpaid Retainer Fee due for the period through the termination date and the amount of any unreimbursed expenses payable under Section 4.1. For purposes of this Section 6.5 6.2, the Employee's Attorney’s designated beneficiary will be such individual beneficiary his spouse, Xxxx Xxx Vander Woude, or trustin the event that his spouse is not surviving, located at such address, as the Employee may designate by notice to the Company from time to time or, if the Employee fails to give notice to the Company of such a beneficiary, the Employee's his estate. Notwithstanding the preceding sentence, the Company will have no duty, in any circumstances, to attempt to open an estate on behalf of the EmployeeAttorney, to determine whether any beneficiary designated by the Employee Attorney is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any Person person or entity purporting to act as the Employee's Attorney’s personal representative (or the trustee of a trust established by the EmployeeAttorney) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, heir, personal representative, or trustee.