Common use of Payments in the Event of Termination by the Company for Cause or Voluntary Termination by Executive Clause in Contracts

Payments in the Event of Termination by the Company for Cause or Voluntary Termination by Executive. Except as provided in Section 5.3, if Executive's employment hereunder is terminated by the Company for Cause or by Executive other than for Good Reason, the Company shall pay Executive (a) his accrued and unpaid Base Salary through the Date of Termination and (b) any payments or other rights or benefits Executive may be otherwise entitled to receive pursuant to the terms of (i) any retirement, pension or other employee benefit or compensation plan maintained by the Company at the time or times provided therein or (ii) Sections 2.6 and 3 hereof.

Appears in 2 contracts

Sources: Management Compensation Agreement (Northwest Airlines Corp), Management Compensation Agreement (Northwest Airlines Corp)

Payments in the Event of Termination by the Company for Cause or Voluntary Termination by Executive. Except as provided in Section 5.3, if Executive's ’s employment hereunder is terminated by the Company for Cause or by Executive other than for Good Reason, the Company shall pay Executive (a) his accrued and unpaid Base Salary through the Date of Termination and (b) any payments or other rights or benefits Executive may be otherwise entitled to receive pursuant to the terms of (i) any retirement, pension or other employee benefit or compensation plan maintained by the Company at the time or times provided therein or (ii) Sections 2.6 and 3 hereof.

Appears in 1 contract

Sources: Management Compensation Agreement (Northwest Airlines Corp)