Common use of Termination Not in Connection With Change in Control Clause in Contracts

Termination Not in Connection With Change in Control. In the event that the employment of the Employee is terminated before the expiration of the Term for any reason other than death, termination for Cause or termination in connection with a Change in Control, then the following shall occur: (A) The Company shall be obligated to continue to pay to the Employee, his designated beneficiaries or his estate, on at least a monthly basis until the expiration of the Term, the annual salary in effect at the time of termination pursuant to Section 3(b) above, plus a cash bonus equal to the cash bonus, if any, paid to the Employee in the twelve month period prior to the termination of employment; (B) The Company shall continue to provide to the Employee, at its expense, health, life, disability and other benefits substantially equal to those being provided to the Employee at the date of termination of his employment until the earliest to occur of the expiration of the Term or the date on which the Employee is included in another employer’s benefit plans as a full-time employee; and (C) The Employee shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor shall any amounts received from other employment or otherwise by the Employee offset in any manner the obligations of the Company hereunder, except as specifically stated in subparagraph II above.