Common use of Termination Pay Clause in Contracts

Termination Pay. Effective upon the termination of this Agreement, the Employer will be obligated to pay the Employee (or, in the event of Employee’s death, Employee’s 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 Employer from time to time or, if the Employee fails to give notice to the Employer of such a beneficiary, the Employee’s estate. Notwithstanding the preceding sentence, the 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 or entity 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 termination of this Agreement, the Employer will be obligated to pay the Employee (or, in the event of Employee’s his death, Employee’s 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 6.56.6, the Employee’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 Employer from time to time or, if the Employee fails to give notice to the Employer of such a beneficiary, the Employee’s estatetime. Notwithstanding the preceding sentence, the 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 or entity 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, representative or trustee.

Termination Pay. Effective upon the termination of this Agreement, the Employer will be obligated to pay the Employee (or, in the event of Employee’s death, Employee’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, 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 Employer from time to time or, if the Employee fails to give notice to the Employer of such a beneficiary, the Employee’s estate. Notwithstanding the preceding sentence, the 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 or entity 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 termination of Employee’s employment under this Agreement, the Employer will be obligated to pay the Employee (or, in the event of Employee’s death, Employee’s designated beneficiary as defined below) only such compensation as is provided in this Section 6.55.4. For purposes of this Section 6.55.4, 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 Employer from time to time or, if the Employee fails to give notice to the Employer of such a beneficiary, the Employee’s estate. Notwithstanding the preceding sentence, the 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 or entity 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 termination of this Agreement, the Employer will be obligated to pay the Employee Executive (or, in the event of Employee’s his death, Employee’s his designated beneficiary as defined below) only such compensation as is provided in this Section 6.5SECTION 6(e), and in lieu of all other amounts and in settlement and complete release of all claims the Executive may have against the Employer under this Agreement. For purposes of this Section 6.5SECTION 6(e), 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 Employer from time to time or, if the Employee Executive fails to give notice to the Employer of such a beneficiary, the Employee’s Executive's estate. Notwithstanding the preceding sentence, the 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 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 termination of this Agreement, the Employer will be obligated to pay the Employee (or, in the event of Employee’s his death, Employee’s his designated beneficiary as defined below) only such compensation as is provided in this Section 6.56.6, and in lieu of all other Base Salary or Bonuses (including installments of Bonuses not yet payable), which shall be in settlement and complete release of all claims Employee may have against the Employer Group. For purposes of this Section 6.56.6, the Employee’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 Employer from time to time or, if the Employee fails to give notice to the Employer of such a beneficiary, the Employee’s estatetime. Notwithstanding the preceding sentence, the 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 or entity 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, representative or trustee.

Termination Pay. Effective upon the termination of Employee's employment under this Agreement, the Employer will be obligated to pay the Employee (or, in the event of Employee’s 's death, Employee’s 's designated beneficiary as defined below) only such compensation as is provided in this Section 6.55.4. For purposes of this Section 6.55.4, 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 Employer from time to time or, if the Employee fails to give notice to the Employer of such a beneficiary, the Employee’s 's estate. Notwithstanding the preceding sentence, the 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 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 termination of this Agreement, the Employer will be obligated to pay the Employee (or, in the event of Employee’s his death, Employee’s 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 (except as may be otherwise provided in the bonus plan or agreement), which shall be in settlement and complete release of all claims Employee may have against the Employer Group. For purposes of this Section 6.56.6, the Employee’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 Employer from time to time or, if the Employee fails to give notice to the Employer of such a beneficiary, the Employee’s estatetime. Notwithstanding the preceding sentence, the 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 or entity 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, representative or trustee.