Common use of Termination Without Clause in Contracts

Termination Without. Cause". If the Employee's employment is terminated by the Company without "cause", the Employee shall be entitled to receive his base salary and any unpaid bonus as provided in Section 4(a), for the period from the date of termination until the first anniversary of the Effective Time (the "Severance Period"), provided that if at any time during the Severance Period the Employee shall obtain other employment, the Company's obligation to pay severance under this Section 8(a) shall automatically be reduced from the date of commencement of such other employment until the termination of the Severance Period to an amount equal to the ratable difference between the Employee's base salary and any unpaid bonus under Section 4(a) and the base salary and any unpaid bonus earned by Employee in such other employment. The Employee shall not be an employee of the Company during the Severance Period, and except for such severance payment or as otherwise required by law, shall not be entitled to any compensation or benefits under Section 4(a), 4(b) or 4(c) with respect to the Severance Period.

Termination Without. Cause". If the Employee's employment is terminated by the Company without "cause", the Employee shall be entitled to receive his base salary and any unpaid bonus as provided in Section 4(a), for the period from the date of termination until the first anniversary of the Effective Time (the "Severance Period"), provided that if at any time during the Severance Period the Employee shall obtain other employment, the Company's obligation to pay severance under this Section 8(a) shall automatically be reduced from the date of commencement of such other employment until the termination of the Severance Period to an amount equal to the ratable difference between the Employee's base salary and any unpaid bonus under Section 4(a) and the base salary earned and any unpaid bonus earned by Employee in such other employment. The Employee shall not be an employee of the Company during the Severance Period, and except for such severance payment or as otherwise required by law, shall not be entitled to any compensation or benefits under Section 4(a), 4(b) or 4(c) with respect to the Severance Period.