Common use of INVOLUNTARY TERMINATION WITHOUT CAUSE OR DISABILITY Clause in Contracts

INVOLUNTARY TERMINATION WITHOUT CAUSE OR DISABILITY. or Voluntary ---------------------------------------------------------------- Termination for Good Reason --------------------------- In the event that, during the term of this Agreement, (i) the Company terminates Executive's employment for any reason other than Cause, Death or Disability, as hereinafter defined, or (ii) Executive terminates his employment for Good Reason, as hereinafter defined, then Executive shall be entitled to receive the following payments and benefits: (1) Severance --------- The Company shall pay to Executive following the date of the employment termination and over the succeeding twenty-four (24) months, in accordance with standard payroll procedures, an amount equal to the following: (A) Two hundred percent (200%) of the Executive's Base Salary in effect on the date of the employment termination; plus (B) Two hundred percent (200%) of the Executive's Incentive Compensation for the fiscal year in which the employment was terminated.

INVOLUNTARY TERMINATION WITHOUT CAUSE OR DISABILITY. or Voluntary ---------------------------------------------------------------- --------------------------------------------------------------------------- Termination for Good Reason --------------------------- ----------------------------- In the event that, during the term of this Agreement, (i) the Company terminates Executive's employment for any reason other than Cause, Death or Disability, as hereinafter defined, or (ii) Executive terminates his employment for Good Reason, as hereinafter defined, then Executive shall be entitled to receive the following payments and benefits: (1) Severance --------- The Company shall pay to Executive following the date of the employment termination and over the succeeding twenty-four (24) months, in accordance with standard payroll procedures, an amount equal to the following: (A) Two hundred percent (200%) of the Executive's Base Salary in effect on the date of the employment termination; plus (B) Two hundred percent (200%) of the Executive's Incentive Compensation for the fiscal year in which the employment was terminated.