Termination Compensation. Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.
Termination Compensation. For purposes of this Agreement, the term “Termination Compensation” shall mean: (i) one hundred fifty percent (150%) of the Employee’s then current annual base salary which shall be payable in a lump sum within forty-five (45) days after separation of employment, conditioned on Employee executing the Company’s standard form severance and release agreement within twenty (20) days of the Employee’s termination, and shall be subject to customary withholding and other applicable payroll processes. If Employee fails to execute and deliver the Company’s standard form severance and release agreement within twenty (20) days after the Employee’s termination, Employee will have no right to any Termination Compensation under this Agreement.
Termination Compensation. If the Agreement is terminated by the Owner pursuant to Paragraph 8.1, no further payment shall be made to the Professional until completion of the Project. At such time, the Professional’s compensation shall, at Owner’s option, be calculated; (i) on the basis of services actually performed and expenses actually incurred prior to the effective termination date, or (ii) on the basis of the payment terms set forth elsewhere herein. In either case, the Professional’s compensation shall be reduced by all costs and damages incurred by Owner as a result of the default of Professional. If the Agreement is (i) terminated by the Professional pursuant to Paragraph 8.2; (ii) terminated by the Owner pursuant to Paragraph 8.3; or (iii) suspended more than ninety (90) days by the Owner pursuant to Paragraph 8.3, the Professional’s compensation shall be calculated on the basis of services actually performed and expenses actually incurred prior to the effective termination or suspension date and reasonable costs associated with the termination or suspension.
Termination Compensation. If Employee's employment hereunder is terminated pursuant to Sections 7(a) or 7(e) of this Agreement, the Company shall pay the Employee his full base salary through the termination date, plus, within five (5) business days of the termination date, any bonuses, incentive compensation, or other payments due which pursuant to the terms of any compensation or benefit plan have been earned or vested as of the termination date. If Employee's employment is terminated by the Company under Section 7(c) without cause, or if there is a change in control of the Company as defined Section 7(d), all unexercised options granted to Employee under the Company's Incentive Stock Plan or Amended Incentive Stock Plan shall accelerate and shall immediately vest. If Employee's employment is terminated pursuant to Sections 7(b), 7(c) or 7(d) of this Agreement, the Company shall pay the Employee the following:
Termination Compensation. (a) Upon Employee's voluntary termination of employment (other than voluntary termination after a Change of Control (as defined below)), or termination of Employee's employment for Cause, the Company shall pay to Employee all compensation due to the date of termination, but shall have no further obligation to Employee hereunder in respect of any period following termination.
Termination Compensation. The "Termination Compensation" shall consist of payment of the Employee's Salary under Section 4(a), at the level in effect at the date of termination, for the longer of (A) any remaining part of the initial term of the Employment Term or (B) 6 months. The Employee shall not be entitled to any Termination Compensation under this Section 6 unless the Employee executes and delivers to the Company after a notice of termination a release in a form satisfactory to the Company in its sole discretion by which the Employee releases the Company and its affiliates, and the Company so releases the Employee, from any obligations and liabilities of any type whatsoever, except for the Company's obligation to provide the Salary specified in this Section 6, any unpaid bonus earned by Employee for the bonus period in which termination of employment occurs, adjusted pro rata based upon the portion of such bonus period in which the Employee was actually employed by the Company hereunder and any liability for any Employment Injury. The parties hereto acknowledge that the Salary to be provided under this Section 6 is to be provided in consideration for a above-specified release. Compensation under the terms and conditions of Section 6(c) and any obligations that the Company may have for any Employment Injury.
Termination Compensation. The following provisions for termination compensation in the event of lay-off will apply:
Termination Compensation. If your employment with inTEST is terminated without "Cause" (as defined in Section 6) at any time within two years following a "Change of Control" (as defined in Section 4), you will receive the "Termination Benefits" (as defined in Section 3). You will also receive the Termination Benefits if you terminate your employment for "Good Reason" (as defined in Section 5) at any time within two years following a Change of Control. You are not entitled to receive the Termination Benefits if your employment is terminated by you or inTEST for any or no reason before a Change of Control occurs or more than two years after a Change of Control has occurred. In order to receive the Termination Benefits, you must execute any release of claims that you may have pursuant to this Agreement (but not any other claims) that may be requested by inTEST. The Termination Benefits will be paid to you under the terms and conditions hereof, without regard to whether you look for or obtain alternative employment following your termination of employment with inTEST.
Termination Compensation. (a) If, during the Term, Executive's employment is terminated (i) for any reason other than (A) pursuant to Section 5(a) hereof, (B) by reason of death or (C) by reason of "Disability" or (ii) by Executive due to "Constructive Discharge," then Executive shall receive termination pay in an amount equal to two times the highest annualized rate of Executive's Salary prior to the date of termination, payable in cash within five business days of the date of termination.
Termination Compensation. Any amounts accruing to Pinnacle prior to such termination shall be due and payable when a final accounting, as set forth in Section 18.6, is delivered in a form reasonably satisfactory to Owner. To the extent that funds are available, and in any event prior to the disbursement of payments (other than underlying mortgage obligations) to Owner, such sums shall be payable from the operating accounts. Any amounts due in excess of the funds available from the operating account shall be paid by Owner to Pinnacle upon demand.