Common use of Payments upon Termination for Cause Clause in Contracts

Payments upon Termination for Cause. INSUBORDINATION, RESIGNATION OR BREACH BY EXECUTIVE. Upon termination of this Agreement pursuant to Section 5.01 (d) (cause), Section 5.01 (e) (insubordination), or Section 5.01 (f) (resignation or breach by Executive), Employer shall pay, or cause to be paid, to Executive, (a) the Base Salary and fringe benefits (not including bonus) for the period ending on the date this Agreement is terminated pursuant to the appropriate subsection of Section 5.01; and (b) all necessary, ordinary, and reasonable business expenses incurred by Executive prior to termination hereof. Employer shall not be obligated to make any other payments to Executive.

Payments upon Termination for Cause. INSUBORDINATION, RESIGNATION OR BREACH BY EXECUTIVE. Upon termination of this Agreement pursuant to Section 5.01 (d) (cause), Section 5.01 (e) (insubordination), or Section 5.01 (f) (resignation or breach by Executive), Employer shall pay, or cause to be paid, to Executive, (a) the Base Salary and fringe benefits (not including bonus) for the period ending on the date this Agreement is terminated pursuant to the appropriate subsection of Section 5.01; and (b) all necessary, ordinary, and reasonable business expenses incurred by Executive prior to termination hereof. Employer shall not be obligated to make any other payments to Executive.