Common use of SPECIAL TERMINATION PAYMENT Clause in Contracts

SPECIAL TERMINATION PAYMENT. If Employee's employment shall be terminated by ASC (other than for Cause, Disability, or death) within 12 months after a Change in Control or if Employee terminates his employment for Good Reason, ASC shall pay Employee an aggregate amount equal to one full year's Base Salary as in effect at such time (the "Special Termination Payment"). ASC shall pay such amount in 12 equal monthly installments beginning on the first day of the calendar month immediately after the date of such termination and on the first day of each of the next eleven calendar months thereafter.