Common use of Compensation Following Termination of Employment Clause in Contracts

Compensation Following Termination of Employment. (a) Under all circumstances, upon termination the EMPLOYEE shall be entitled to receive: (i) Any accrued but unpaid Base Salary for services rendered to the date of termination; and (ii) Any benefits to which EMPLOYEE may be entitled upon termination pursuant to the plans, policies and arrangements referred to in Section 4 hereof shall be determined and paid in accordance with the terms of such plans, policies and arrangements. Upon any such termination, EMPLOYEE shall have the right to exercise his Vested Stock Options in accordance with the terms of the plan. Should he fail to exercise these options within this period, they will be forfeited at the end of that period. (b) In the event that EMPLOYEE's employment hereunder is voluntarily terminated by the EMPLOYER in accordance with Section 5(c), EMPLOYER fails to employ EMPLOYEE as provided in Section 1, or in the event that EMPLOYEE's employment hereunder is terminated by the EMPLOYEE in accordance with Section 5(e), the EMPLOYEE shall also be entitled to receive: (i) A payment equal to eighteen (18) months Base Salary, at the rate in effect on the date of termination of employment, such amount to be paid as salary continuation with benefits. EMPLOYEE may request and FMC will agree that any remaining salary continuation be paid in a lump sum. If a lump sum is selected, all benefits entitlement will cease as of the date of such payment; and (ii) Executive outplacement if EMPLOYEE's position is eliminated or materially reduced in scope as a result of restructuring or a change of control of the company; and (iii) A pro-rated portion of the EMPLOYEE's annual bonus as of the termination of work date calculated based on the greater of the current annual target bonus and the previous year's actual annual bonus. (c) Any stock options or other awards will continue to vest in accordance with the terms of the award and the plan pursuant to which it was made. If the terms of any award and governing plan are silent with respect to termination of employment, such award will lapse immediately upon such termination.

Compensation Following Termination of Employment. (a) Under all circumstances, upon termination the EMPLOYEE shall be entitled to receive: (i) Any accrued but unpaid Base Salary for services rendered to the date of termination; and (ii) Any benefits to which EMPLOYEE may be entitled upon termination pursuant to the plans, policies and arrangements referred to in Section 4 hereof shall be determined and paid in accordance with the terms of such plans, policies and arrangements. Upon any such termination, EMPLOYEE shall have the right to exercise his Vested Stock Options in accordance with the terms of the plan. Should he EMPLOYEE fail to exercise these options within this period, they will be forfeited at the end of that said period. (b) In the event that EMPLOYEE's employment hereunder is voluntarily terminated by the EMPLOYER in accordance with Section 5(c), EMPLOYER fails to employ EMPLOYEE as provided in Section 1, or in the event that EMPLOYEE's employment hereunder is terminated by the EMPLOYEE in accordance with Section 5(e), or in the event the EMPLOYEE's employment hereunder is terminated by virtue of the EMPLOYER's giving written notice of non-renewal before the commencement of any one (1) year term of this Agreement, the EMPLOYEE shall also be entitled to receive: (i) A payment equal If such event occurs before June 1, 2006, the balance of the salary payments equivalent to eighteen the number of months remaining up to and including June 1, 2006. At a minimum, the number of months for salary continuation will be twenty-four (1824) months, regardless of how much time actually is left before June 1, 2006, at the rate in effect on the date of termination of employment or the date of the EMPLOYER's notice of non-renewal, as applicable, such amount to be paid in a lump sum as soon as practicable thereafter; and (ii) In the event that the Agreement is extended beyond June 1, 2006, the balance of the salary payments equivalent to the number of months Base Salaryremaining in the term of the Employment Agreement. At a minimum, the number of months of salary continuation will be twenty-four (24) months, at the rate in effect on the date of termination of employment, such amount to be paid as salary continuation with benefits. EMPLOYEE may request and FMC will agree that any remaining salary continuation be paid in a lump sum. If a lump sum is selected, all benefits entitlement will cease as of the date of such payment; and (ii) Executive outplacement if EMPLOYEE's position is eliminated or materially reduced in scope soon as a result of restructuring or a change of control of the companypracticable thereafter; and (iii) A pro-rated portion of the EMPLOYEE's annual bonus as of the based upon termination of work date calculated based on the greater of the current annual target bonus and the previous year's actual annual bonusdate. (c) Any stock options or other awards will continue to vest in accordance with the terms of the award and the plan pursuant to which it was made. If the terms of any award and governing plan are silent with respect to termination of employment, such award will lapse immediately upon such termination.