Common use of PAYMENT CONTINUATION Clause in Contracts

PAYMENT CONTINUATION. If the Employee's engagement by the Company is terminated by the Company pursuant to clause (iii) of Section 8(a) or by Employee for Good Reason pursuant to clause (v) of Section 8(a), the Company shall continue to pay to the Employee Employee's base payment (less any payments received by the Employee from any disability income insurance policy provided to Employee by the Company) and shall continue to provide health insurance benefits for the Employee through the earlier of (a) the date that the Employee has obtained other full-time engagement, or (b) three (3) months from the date of termination of engagement. If this Agreement is terminated pursuant to clauses (i), (ii) or (iv) of Section 8(a), the Employee's right to base payment and benefits shall immediately terminate, except as may otherwise be required by applicable law.

PAYMENT CONTINUATION. If the Employee's engagement by the Company is terminated by the Company pursuant to clause (iii) or (iv) of Section 8(a) or by Employee for Good Reason pursuant to clause (vvi) of Section 8(a), the Company shall continue to pay to the Employee Employee's base payment (less any payments received by the Employee from any disability income insurance policy provided to Employee by the Company) and shall continue to provide health insurance benefits for the Employee through the earlier of (a) the date that the Employee has obtained other full-time engagement, or (b) three (3) months from the date of termination of engagement. If this Agreement is terminated pursuant to clauses (i), (ii) or (ivv) of Section 8(a), the Employee's right to base payment and benefits shall immediately terminate, except as may otherwise be required by applicable law.