Common use of Any Other Termination Clause in Contracts

Any Other Termination. If Executive is terminated at any time during the term of this Agreement following a Change of Control for any reason other than set forth in Section 3(a) or 3(b), Executive shall be entitled to receive his accrued unpaid base salary and vacation through the Date of Termination, the Target Bonus (or, as applicable, the excess of Target Bonus over any bonus paid for such period) for the most recently completed bonus period if Target Bonus has not been paid in respect of such period (unless the most recently completed bonus period is calendar year 2000, in which case the Executive's entitlement shall be the earned bonus for such period, not the Target Bonus), plus except in the case of the Company's termination of Executive for Cause, a pro rata portion of the Target Bonus for the current bonus period through the Date of Termination, all of the foregoing payable in a lump sum within ten days of the Date of Termination, and any other benefits under other plans and programs of the Company in which he is then currently participating in accordance with their terms, and the Company and its subsidiaries will have no further obligations hereunder with respect to Executive following the Date of Termination.

Appears in 4 contracts

Samples: Change of Control Agreement (Mascotech Inc), Change of Control Agreement (Mascotech Inc), Change of Control Agreement (Mascotech Inc)

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