Common use of Termination Without Cause by Employer or for Good Reason by Executive Clause in Contracts

Termination Without Cause by Employer or for Good Reason by Executive. If the Employment Period is terminated by Employer pursuant to the provisions of Section 4.1 hereof or by Executive pursuant to the provisions of Section 4.3 hereof, Employer will pay to Executive (a) Base Salary for a period of twelve (12) months following the date of termination (calculated at the Base Salary rate in effect as of the date of termination) payable in equal installments at the times Base Salary would have been paid had the Employment Period not been terminated; (b) when and if due pursuant to the provisions of Section 3.2 hereof, the prorated Bonus for the then current Bonus Year and (c) if applicable, the Bonus for the last full Bonus Year pursuant to Section 3.2. Employer shall have no obligation to continue any other benefits provided for in Section 3 past the date of termination, except as provided in Section 3.4.

Termination Without Cause by Employer or for Good Reason by Executive. If the Employment Period is terminated by Employer pursuant to the provisions of Section 4.1 hereof or by Executive pursuant to the provisions of Section 4.3 hereof, Employer will pay to Executive (a) Base Salary for a period of twelve eighteen (1218) months following the date of termination (calculated at the Base Salary rate in effect as of the date of termination) payable in equal installments at the times Base Salary would have been paid had the Employment Period not been terminated; (b) when and if due pursuant to the provisions of Section 3.2 hereof, the prorated Bonus for the then current Bonus Year and (c) if applicable, the Bonus for the last full Bonus Year pursuant to Section 3.2. Employer shall have no obligation to continue any other benefits provided for in Section 3 past the date of termination, except as provided in Section 3.4.