Common use of Continuation of Salary Clause in Contracts

Continuation of Salary. The Employee shall be entitled to receive Employee's salary and other benefits in effect at the Termination Date upon the commencement of Arbitration for the period of the earliest to occur of (i) the termination of the Arbitration, (ii) Employee's employment by a third party or (iii) one (1) year from the Termination Date, provided, however, that the Employee would be obligated to repay TCPI such salary (without interest) in the event that the Arbitrators determine that the termination of Employee's employment was proper pursuant to the provisions of this Employment Agreement and such Arbitrator(s) find such repayment justified and equitable.

Appears in 2 contracts

Sources: Employment Agreement (Technical Chemicals & Products Inc), Employment Agreement (Technical Chemicals & Products Inc)