Common use of Base Salary and Benefits Clause in Contracts

Base Salary and Benefits. If the Company does not terminate the Employee immediately upon receipt of the termination notice and Employee performs his duties in a satisfactory manner, as determined in the sole discretion of the Company, until the Request Date, Employee shall also be entitled to an amount equal to one month's Base Salary (in effect at such time). In addition, in the event of a termination of Employee's employment pursuant to Section 9.5(a) at the end of the Term upon sixty (60) prior written notice and upon the satisfactory completion, in the sole discretion of the Company, of Employee's duties during the 60-day period after receipt of such termination notice, Employee shall be entitled to receive an amount equal to one month's Base Salary (in effect at such time) multiplied by the number of the complete 12-month periods of service completed prior to giving notice of termination. Except as specifically set forth in this Section 9.5(b), all Base Salary, Benefits and Bonuses shall cease at the time of such termination, subject to the terms of any benefit or compensation plan then in force and applicable to Employee. Except as specifically set forth in this Section 9.5, the Company shall have no liability or obligation hereunder by reason of such termination.

Appears in 9 contracts

Samples: Employment Agreement (Imagemax Inc), Employment Agreement (Imagemax Inc), Employment Agreement (Imagemax Inc)

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Base Salary and Benefits. If the Company does not terminate the Employee immediately upon receipt of the termination notice and Employee performs his duties in a satisfactory manner, as determined in the sole discretion of the Company, until the Request Date, Employee shall also be entitled to an amount equal to one month's Base Salary (in effect at such time). In addition, in the event of a termination of Employee's employment pursuant to Section 9.5(a) at the end of the Term upon sixty days (60) prior written notice and upon the satisfactory completion, in the sole discretion of the Company, of Employee's duties during the 60-day period after receipt of such termination notice, Employee shall be entitled to receive an amount equal to one month's Base Salary (in effect at such time) multiplied by the number of the complete 12-month periods of ImageMax service (whether or not pursuant to this Agreement) completed prior to giving notice of termination. Except as specifically set forth in this Section 9.5(b), all Base Salary, Benefits and Bonuses shall cease at the time of such termination, subject to the terms of any benefit or compensation plan then in force and applicable to Employee. Except as specifically set forth in this Section 9.5, the Company shall have no liability or obligation hereunder by reason of such termination.

Appears in 5 contracts

Samples: Employment Agreement (Imagemax Inc), Employment Agreement (Imagemax Inc), Employment Agreement (Imagemax Inc)

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