Common use of Severance Benefits Received Upon Termination Clause in Contracts

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 (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 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. If (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 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 credit payment for any accrued vacation and other benefits. Thereafter 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.