Common use of Compensation and Benefits During Remaining Term of Agreement Clause in Contracts

Compensation and Benefits During Remaining Term of Agreement. In the event of the termination of the Executive's employment under Subparagraph (a), Mercer and FHI shall pay or provide the compensation and benefits described in Paragraph 6(b), except that all such compensation and benefits shall be for the greater of three years or the remaining term of this Agreement and, with respect to Subparagraphs 6(b)(2) and (3), an additional pro rated amount shall be paid to him in cash on the last day of the remaining term of this Agreement. Such pro rated amount shall be determined by reference to a fraction, the numerator of which is the number of whole months elapsed during the year in which termination occurs, and the denominator of which is 12.

Compensation and Benefits During Remaining Term of Agreement. In the event of the termination of the Executive's employment under Subparagraph (a), Mercer and FHI shall pay or provide the compensation and benefits described in Paragraph 6(b), except that all such compensation and benefits shall be for the greater of three years or the remaining term of this Agreement and, with respect to Subparagraphs 6(b)(2) and (3), an additional pro rated amount shall be paid to him in cash on the last day of the remaining term of this Agreement. Such pro rated amount shall be determined by reference to a fraction, the numerator of which is the number of whole months elapsed during the year in which termination occurs, and the denominator of which is 12.