Common use of Payment in the Event of Termination Clause in Contracts

Payment in the Event of Termination. In the event that the Executive's employment hereunder terminates due to Disability, a termination for Cause or for Serious Cause, or the Executive's death, or the Executive voluntarily terminates employment with the Company for reasons other than Disability (with voluntary retirement or termination following Executive's delivery of a Notice of Nonrenewal being a voluntary termination for purposes of this Agreement), earned but unpaid Base Salary and any earned but unpaid Incentive Compensation as of the Date of Termination shall be payable in full. However, no other payments (and, in particular, no severance shall be payable) shall be made, or benefits provided, by the Company under this Agreement except for compensatory rights to the extent already earned, vested benefits payable under the terms of Company's plans, and any other benefits which the Executive is entitled to receive under the terms of any other employee benefit programs maintained by the Company or its affiliates for its employees.

Payment in the Event of Termination. In the event that the Executive's Executives employment hereunder terminates due to Disability, a termination for Cause or for Serious Cause, or the Executive's death, or the Executive voluntarily terminates employment with the Company for reasons other than Disability (with voluntary retirement or termination following Executive's delivery of a Notice of Nonrenewal being a voluntary termination for purposes of this Agreement), earned but unpaid Base Salary and any earned but unpaid Incentive Compensation as of the Date of Termination shall be payable in full. However, no other payments (and, in particular, no severance shall be payable) shall be made, or benefits provided, by the Company under this Agreement except for compensatory rights to the extent already earned, vested benefits payable under the terms of Company's plans, and any other benefits which the Executive is entitled to receive under the terms of any other employee benefit programs maintained by the Company or its affiliates for its employees.