Common use of Termination Upon Cessation of Business Clause in Contracts

Termination Upon Cessation of Business. The Company shall have the right to immediately terminate Executive’s employment under this Agreement upon a Cessation of Business (as defined in Section 7.8(b)). Upon termination in connection with a Cessation of Business, the Company shall (I) pay to Executive the Base Salary, and (ii) provide the same health insurance benefits to which Executive is entitled hereunder, in each case until the earlier to occur of (A) the expiration of the remaining portion of the Term, or (B) the expiration of the three month period commencing on the date Executive is terminated. The Company may make such payments in accordance with its regular payroll schedule or in a single lump sum payment in its sole discretion.

Termination Upon Cessation of Business. The Company shall have the right to immediately terminate Executive’s 's employment under this Agreement upon a Cessation of Business (as defined in Section 7.8(b)). Upon termination in connection with a Cessation of Business, the Company shall (Ii) pay to Executive the Base Salary, and (ii) provide the same health insurance benefits to which Executive is entitled hereunder, in each case until the earlier to occur of (A) the expiration of the remaining portion of the Term, or (B) the expiration of the three month period commencing on the date Executive is terminated. The Company may make such payments in accordance with its regular payroll schedule or in a single lump sum payment in its sole discretion.