Common use of Upon an Involuntary Termination Clause in Contracts

Upon an Involuntary Termination. of the employment relationship by either Employer or Employee prior to expiration of the Term, Employee shall be entitled, after execution of a Waiver and Release Agreement, in consideration of Employee's continuing obligations hereunder after such termination (including, without limitation, Employee's non-competition obligations), if Employee's employment ceases during the Term of this Agreement, upon the execution of a waiver and release agreement, Employee shall receive two years base salary. Said amount shall be paid in two installments: (i) one (1) year's base salary within thirty (30) days of the Involuntary Termination Date; and (ii) the remaining sum of one (1) year's base salary twelve (12) months later. As used in this Agreement, "Involuntary Termination" shall also mean termination of Employee's employment with Employer if such termination results from:

Upon an Involuntary Termination. of the employment relationship by either Employer or Employee prior to expiration of the Term, Employee shall be entitled, after execution of a Waiver and Release Agreement, in consideration of Employee's continuing obligations hereunder after such termination (including, without limitation, Employee's non-competition obligations), if Employee's employment ceases during the Term of this Agreement, upon the execution of a waiver Waiver and release agreementRelease Agreement, Employee shall receive two years base salary. Said amount shall be paid in two installments: (i) one (1) year's base salary within thirty (30) days of the Involuntary Termination Date; and (ii) the remaining sum of one (1) year's base salary twelve (12) months later. As used in this Agreement, "Involuntary Termination" shall also mean termination of Employee's employment with Employer if such termination results from: