Common use of Termination on a Change in Control Clause in Contracts

Termination on a Change in Control. If a Termination for a Change in ---------------------------------- Control occurs, the Officer will immediately be paid all accrued salary, bonus compensation to the extent earned, vested deferred compensation (other than pension plan or profit sharing plan benefits, which will be paid in accordance with the applicable plan), any benefits then due under any OSI plans in which the Officer participates, accrued vacation pay and any appropriate business expenses incurred by the Officer in connection with his duties, all to the date of termination ("Accrued Compensation"). The Officer will also be entitled to the severance compensation described in Section 4.

Appears in 5 contracts

Samples: Severance Agreement (Objective Systems Integrators Inc), Severance Agreement (Objective Systems Integrators Inc), Severance Agreement (Objective Systems Integrators Inc)

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Termination on a Change in Control. If a Termination for a Change in Control ---------------------------------- Control occurs, the Officer will immediately be paid all accrued salary, bonus compensation to the extent earned, vested deferred compensation (other than pension plan or profit sharing plan benefits, which will be paid in accordance with the applicable plan), any benefits then due under any OSI plans in which the Officer participates, accrued vacation pay and any appropriate business expenses incurred by the Officer in connection with his duties, all to the date of termination ("Accrued Compensation"). The Officer will also be entitled to the severance compensation described in Section 4.

Appears in 1 contract

Samples: Severance Agreement (Objective Systems Integrators Inc)

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