Common use of PAYMENT UPON TERMINATION WITHOUT CAUSE BY THE COMPANY Clause in Contracts

PAYMENT UPON TERMINATION WITHOUT CAUSE BY THE COMPANY. Upon termination of the Executive's employment by the Company without cause pursuant to subsection 7.4, the Company will grant pay to the Executive within 14 days after termination an amount equal to the sum of (a) the Executive's Base Salary accrued to the date of termination; (b) the Executive's Base Salary for a twelve month period; and (c) any unreimbursed expenses accruing to the date of termination. Additionally, Executive will be entitled at the Company's expense to participate for a twelve month period after termination in any group life, hospitalization, medical, dental, health, accident or disability insurance or similar plan or program of the Company, to the extent that such participation would not be inconsistent with such plans contractual provisions and/or applicable regulations.

PAYMENT UPON TERMINATION WITHOUT CAUSE BY THE COMPANY. Upon termination of the Executive's employment by the Company without cause pursuant to subsection 7.4, the Company will grant pay to the Executive within 14 days after termination an amount equal to the sum of (a) the Executive's Base Salary accrued to the date of termination; (b) the Executive's Base Salary for a twelve sixty (60) month period; and (c) any unreimbursed expenses accruing to the date of termination. Additionally, Executive will be entitled at the Company's expense to participate for a twelve month period after termination in any group life, hospitalization, medical, dental, health, accident or disability insurance or similar plan or program of the Company, to the extent that such participation would not be inconsistent with such plans contractual provisions and/or applicable regulations.