Severance Benefits Received Upon Termination. (a) If Executive's employment is terminated by the Company for Cause, or Executive terminates this Agreement pursuant to Section 4.3 other than for Good Reason, then the Company shall pay Executive her Base Salary through the Effective Date of such termination plus credit for any vacation earned but not taken, and the Company shall thereafter have no further obligations to Executive under this Agreement.
Severance Benefits Received Upon Termination. (a) If (i) at any time the Executive's employment is terminated by the Company for Cause, or (ii) at any time the Executive's employment is terminated by the Executive without Good Reason, the Company shall pay the Executive his base salary through the end of the month during which such termination occurs (or at the Executive's election, the rate in effect on the first day of the month preceding the month in which the date of termination occurs) plus credit for any accrued vacation and the Company shall thereafter have no further obligations under this Agreement to the Executive or his dependents, beneficiaries or estate; provided, however, that the Company will continue to honor any obligations that may have been accrued under then existing Company Benefit Plans or any other agreements or arrangements applicable to the Executive.
Severance Benefits Received Upon Termination. (a) If at any time the Executive's employment is terminated by the Company for Cause, the Company shall pay the Executive his base salary through the end of the month during which such termination occurs (or at the Executive's election, the rate in effect on the first day of the month preceding the month in which the date of termination occurs) plus credit for any accrued vacation and the Company shall thereafter have no further obligations under this Agreement to the Executive or his or her dependents, beneficiaries or estate; provided, however, that the Company will continue to honor any obligations that may have been accrued under then existing Company Benefit Plans or any other agreements or arrangements applicable to the Executive.
Severance Benefits Received Upon Termination. (a) If (i) at any time the Executive's employment is terminated by the Company for Cause, or (ii) at any time the Executive's employment is terminated by the Executive without Good Reason, the Company shall pay the Executive his base salary
Severance Benefits Received Upon Termination. (a) If (i) the Executive's employment is terminated by death, or due to permanent disability, or by the Company for cause pursuant to paragraph 4.1, or (ii) the Executive terminates his employment without Good Reason, then the Company shall pay the Executive his Base Salary through the end of the month during which such termination occurs (or at the Executive's election, the rate in effect on the first day of the month preceding the month in which the date of termination occurs) plus credit for any vacation earned but not taken and the Company shall thereafter have no further obligations to the Executive under this Agreement; PROVIDED, HOWEVER, that the Company will continue to honor any obligations that may have accrued under the existing Company Benefit Plans or any other agreements or arrangements applicable to the Executive.
Severance Benefits Received Upon Termination. (a) If at any time the Executive's employment is terminated by the Company for Cause, the Company shall pay the Executive his Annual Salary prorated through the end of the month during which such termination occurs plus payment for any vacation earned but not taken, and the Company shall thereafter have no further obligations under this Agreement to the Executive or his dependents, beneficiaries or estate; provided, however, that the Company will continue to honor any obligations that may have been accrued and vested under then existing Company Benefit Plans or any other written and duly authorized agreements or arrangements applicable to the Executive. The only Agreements in effect for Xxxxxx X. Xxxxxxxxxxx are the written Incentive Stock Option Agreement(s) previously awarded and the Change of Control Agreement. This signed Employment Agreement supersedes or replaces any other agreement or arrangement applicable to this Executive.
Severance Benefits Received Upon Termination. If (a) (i) at any time the Executive's employment is terminated by the Company for Cause, or (ii) at any time the Executive's employment is terminated by the Executive without Good Reason, the Company shall pay the Executive his base salary through the end of the 120 day Notice period during which such termination occurs (or at the Executive's election, the rate in effect on the first day of the month preceding the month in which the date of termination occurs) plus payment for any accrued vacation and other benefits. Thereafter the Company shall have no further obligations under this Agreement to the Executive or his or her dependents, beneficiaries or estate; provided, however, that the Company will continue to honor any obligations that may have been accrued under then existing Company Benefit Plans or any other agreements or arrangements applicable to the Executive. (b) If (i) at any time the Executive's employment is terminated by the Company without Cause, or (ii) at any time the Executive's employment is terminated by the Executive for Good Reason, then the Company shall: (1) pay to the Executive within three business days following the date of termination his monthly base salary in effect on the date of the termination through the end of the month during which such termination occurs, plus all payments for any vacation earned but not taken, plus all accrued benefits; and 2) pay to the Executive as severance pay in a lump sum, in cash, within five business days following the date of termination, an amount equal to (i) the Executive's monthly base salary in effect on the date of termination, multiplied by (ii) fifty-nine (59) months; provided, however, that if the lump sum severance payment under this Section 4.5(b)(2), either alone or together with other payments which the Executive has the right to receive from the Company, would constitute an "excess parachute payment" (as defined in Section 280G of the Internal Revenue Code of 1986, as amended (the "Code")), such lump sum severance payment shall be paid over three months so no portion of the lump sum severance payment under this Article III will be subject to the excise tax imposed by Section 4999 of the Code. The determination of any reduction in the lump sum severance payment under this Section 4.5(b)(2) pursuant to the foregoing proviso shall be made by independent auditors in good faith and such determination shall be conclusive and binding on the Executive and the Company; (3) pay to the Exe...
Severance Benefits Received Upon Termination. (b) If at any time the Executive's employment is terminated by the Company for Cause, the Company shall pay the Executive, in cash, his base salary through the end of the month during which such termination occurs plus credit for any accrued vacation. All benefits will remain in effect until the termination occurs. Subject to the other provisions contained in this Agreement, the Company may terminate this Agreement for any reason other than Cause upon thirty (30) days' written notice to Executive. The effective date of termination ("Effective Date") shall be considered to be thirty (30) days subsequent to written notice of termination; however, the Company may elect to have Executive leave the Company immediately.
Severance Benefits Received Upon Termination. (a) If at any time the Executive's employment is terminated by the Company for Cause, the Company shall pay the Executive his Annual Salary prorated through the end of the month during which such termination occurs plus payment for any vacation earned but not taken, and the Company shall thereafter have no further obligations under this Agreement to the Executive or his dependents, beneficiaries or estate; provided, however, that the Company will continue to honor any obligations that may have been accrued and vested under then existing Company Benefit Plans or any other written and duly authorized agreements or arrangements applicable to the Executive.
Severance Benefits Received Upon Termination. (a) If at any time the Executive's employment is terminated by the Company for Cause, the Company shall pay the Executive his annual salary prorated through the end of the month during which such termination occurs plus payment for any vacation earned but not taken and the Company shall thereafter have no further obligations under this Agreement to the Executive or his or her dependents, beneficiaries or estate; provided, however, that the Company will continue to honor any obligations that may have been accrued under then existing Company Benefit Plans or any other agreements or arrangements applicable to the Executive.
