Common use of Termination of Employment for Any Reason Clause in Contracts

Termination of Employment for Any Reason. In the event of a termination of Executive’s employment for any reason, whether or not such termination occurs during the Term of Employment, the Company shall pay to Executive (a) within five (5) business days following the date of termination of Executive’s employment, a lump sum equal to (i) Executive’s Base Salary earned on or prior to the date of such termination but not yet paid to Executive in accordance with the Company’s customary procedures and practices regarding the salaries of executives, (ii) any business expenses incurred by Executive and not yet reimbursed by the Company under Section 5 above, as of the date of such termination, (iii) any vacation time accrued but unused as of the date of such termination, and (iv) any Bonus earned but not yet paid for any calendar year prior to the date of such termination and (b) any benefits accrued and vested under any of the Company’s employee benefit programs, plans and practices on or prior to the date of termination of Executive’s employment (remuneration described in (a) and (b) above are collectively referred to as the “Accrued Obligations” herein) in accordance with the terms of such programs, plans and practices.

Termination of Employment for Any Reason. In the event of a termination of Executive’s 's employment for any reason, whether or not such termination occurs during the Term of Employment, the Company shall pay to Executive (a) within five (5) business days following the date of termination of Executive’s 's employment, a lump sum equal to (i) Executive’s 's Base Salary earned on or prior to the date of such termination but not yet paid to Executive in accordance with the Company’s 's customary procedures and practices regarding the salaries of executives, (ii) any business expenses incurred by Executive and not yet reimbursed by the Company under Section 5 above, as of the date of such termination, (iii) any vacation time accrued but unused as of the date of such termination, and (iv) any Bonus earned but not yet paid for any calendar year prior to the date of such termination and (b) any benefits accrued and vested under any of the Company’s 's employee benefit programs, plans and practices on or prior to the date of termination of Executive’s 's employment (remuneration described in (a) and (b) above are collectively referred to as the “Accrued Obligations” herein) in accordance with the terms of such programs, plans and practices.