Common use of Payments in the Event of Termination of Employment Clause in Contracts

Payments in the Event of Termination of Employment. 5.1 PAYMENTS IN THE EVENT OF TERMINATION BY THE COMPANY FOR CAUSE OR VOLUNTARY TERMINATION BY EXECUTIVE. Except as provided in Section 5.3, if Executive's employment hereunder is terminated by the Company for Cause or by Executive other than for Good Reason, the Company shall pay Executive (a) his accrued and unpaid Base Salary through the Date of Termination and (b) any payments or other rights or benefits Executive may be otherwise entitled to receive pursuant to the terms of (i) any retirement, pension or other employee benefit or compensation plan maintained by the Company at the time or times provided therein or (ii) Sections 2.6 and 3 hereof.

Appears in 4 contracts

Samples: Management Compensation Agreement (Northwest Airlines Corp), Management Compensation Agreement (Northwest Airlines Corp), Management Compensation Agreement (Northwest Airlines Corp)

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Payments in the Event of Termination of Employment. 5.1 PAYMENTS IN THE EVENT OF TERMINATION BY THE COMPANY FOR CAUSE OR VOLUNTARY TERMINATION BY EXECUTIVEPayments in the Event of Termination by the Company for Cause or Voluntary Termination by Executive. Except as provided in Section 5.3, if If Executive's ’s employment hereunder is terminated by the Company for Cause Cause, as a result of death or Disability or by Executive other than for Good Reason, the Company shall pay Executive (a) his accrued and unpaid Base Salary through the Date of Termination and (b) any payments vested or other accrued and unpaid payments, rights or benefits Executive may be otherwise entitled to receive pursuant to the terms of (i) any written retirement, pension or other employee benefit or compensation plan maintained by the Company at the time or times provided therein or (ii) Sections 2.6 and 3 hereoftherein.

Appears in 2 contracts

Samples: Management Compensation Agreement (Northwest Airlines Corp), Management Compensation Agreement (Northwest Airlines Corp)

Payments in the Event of Termination of Employment. 5.1 PAYMENTS IN THE EVENT OF TERMINATION BY THE COMPANY FOR CAUSE OR VOLUNTARY TERMINATION BY EXECUTIVE. Except as provided in Section 5.3, if Executive's employment hereunder is terminated by the Company for Cause or by Executive other than for Good Reason, the Company shall pay Executive (a) his accrued and unpaid Base Salary through the Date of Termination and (b) any payments or other rights or benefits Executive may be otherwise entitled to receive pursuant to the terms of (i) any retirement, pension or other employee benefit or compensation plan maintained by the Company at the time or times provided therein or (ii) Sections Section 2.6 and 3 hereof.

Appears in 1 contract

Samples: Management Compensation Agreement (Northwest Airlines Corp)

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Payments in the Event of Termination of Employment. 5.1 PAYMENTS IN THE EVENT OF TERMINATION BY THE COMPANY FOR CAUSE OR VOLUNTARY TERMINATION BY EXECUTIVE. Except as provided in Section 5.3, if Executive's employment hereunder is terminated by the Company for Cause or by Executive other than for Good Reason, the Company shall pay Executive (a) his accrued and unpaid Base Salary through the Date of Termination and (b) any payments or other rights or benefits Executive may be otherwise entitled to receive pursuant to the terms of (i) any retirement, pension or other employee benefit or compensation plan or life insurance policy maintained by the Company at the time or times provided therein or (ii) Sections 2.6 and Section 3 hereof.

Appears in 1 contract

Samples: Management Compensation Agreement (Northwest Airlines Corp)

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