Common use of Termination of the Term of Employment Clause in Contracts

Termination of the Term of Employment. (a) Termination for Cause or Without Good Reason. -------------------------------------------- (i) The Company shall have the right to terminate the Term of Employment for Cause (as defined in Section 5(a)(ii) hereof) prior to December 31, 1999, and Executive shall have the right to terminate the Term of Employment without Good Reason (as defined in Section 5(b)(ii) hereof) prior to December 31, 1999. If the Term of Employment is so terminated, Executive shall be entitled to receive payment of the pro rata portion of the Base Salary through and including the date of such termination and payment when due of the non- competition consideration (the "Non-Competition Payments") during the non- competition period set forth in the Non-Competition Agreement, dated as of December 20, 1996, by and between Executive and the Company (the "NonCompetition Agreement") unless Executive is in breach of the Non-Competition Agreement. Executive shall not be eligible to receive Base Salary or to participate in any of the Plans or to receive any of the Fringe Benefits with respect to any periods after the date of such termination, except for the right to receive vested or statutorily available benefits under any of the Plans in which Executive participates in accordance with the terms of such Plans.

Termination of the Term of Employment. (a) Termination for Cause or Without Good Reason. -------------------------------------------- (i) The Company shall have the right to terminate the Term of Employment for Cause (as defined in Section 5(a)(ii) hereof) prior to December 31, 1999, and Executive shall have the right to terminate the Term of Employment without Good Reason (as defined in Section 5(b)(ii) hereof) prior to December 31, 1999. If the Term of Employment is so terminated, Executive shall be entitled to receive payment of the pro rata portion of the Base Salary through and including the date of such termination and payment when due of the non- competition consideration (the "Non-Competition Payments") during the non- competition period set forth in the Non-Competition Agreement, dated as of December 20, 1996, by and between Executive and the Company (the "NonCompetition Agreement") unless Executive is in breach of the Non-Competition Agreementtermination. Executive shall not be eligible to receive Base Salary or to participate in any of the Plans or to receive any of the Fringe Benefits with respect to any periods after the date of such termination, except for the right to receive vested or statutorily available benefits under any of the Plans in which Executive participates in accordance with the terms of such Plans. The Company shall also pay to Executive promptly (rather than when normally payable) a pro rata portion of the Annual Bonus (with respect to only the first year of the Term of Employment) corresponding to the portion of the year occurring prior to the date of such termination.