Common use of Termination Payments and Benefits Clause in Contracts

Termination Payments and Benefits. If during a Change in Control Period, as defined in Section 8, the Employment Period of the Executive shall terminate other than by reason of a Nonqualifying Termination, as defined in Section 8, then the Company shall pay or provide to the Executive (or his executor, administrator or other legal representative, as the case may be) within 30 days following the Termination Date, as compensation for services rendered to the Company and in lieu of any severance amounts which otherwise would be payable to the Executive, the following amounts:

Appears in 6 contracts

Samples: Employment Agreement (Zenith Electronics Corp), Employment Agreement (Zenith Electronics Corp), Employment Agreement (Zenith Electronics Corp)

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Termination Payments and Benefits. If during a Change in Control --------------------------------- Period, as defined in Section 8, the Employment Period of the Executive shall terminate terminates other than by reason of a Nonqualifying Termination, as defined in Section 8, then the Company shall pay or provide to the Executive (or his executor, administrator or other legal representative, as the case may be) within 30 days following the Termination Date, as compensation for services rendered to the Company and in lieu of any severance amounts which otherwise would be payable to the Executive, the following amounts:

Appears in 1 contract

Samples: Employment Agreement (Zenith Electronics Corp)

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