Circuit City 2011 Annual Report Download - page 66

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(g) Date of Termination . The effective date of Employee’s termination of employment (“Date of Termination”) shall be:
(i) in the event of his death, the date of death;
(ii) in the event of termination for Total Disability, thirty (30) days after Notice of Termination is given (provided that
Employee shall not have returned to the performance of his duties on a full-time basis during such 30-day period);
(iii) in the event of termination for Cause , the date specified in the Notice of Termination;
(iv) in the event of termination without Cause, the last day of the fifteen (15) day period beginning on the date on which
written Notice of Termination is given, or such earlier date as may be mutually agreed by the parties.
(v) in the event of resignation by the Employee (other than for Good Reason), the last day of the thirty (30) period
beginning on the date on which written Notice of Termination is given, or such earlier date as may be mutually agreed by the parties.
(vi) in the event of the Employee’
s resignation for Good Reason, the date of termination shall be the effective date of
Employee’s termination of employment in accordance with Section 3 (d) hereof.
4. Compensation Following Termination of Employment
(a) Total Disability . If the Employee’s employment is terminated pursuant to Section 3(b) as a result of the Employee’
s Total
Disability, the Company shall pay to the Employee the applicable portion of his Base Salary due through the Date of Termination at the rate in effect at
the time Notice of Termination is given, and following such payment the Company shall have no further obligation to the Employee under this
Agreement; provided, however, that the foregoing shall have no effect upon any benefits due the Employee under any disability or medical plan or
other employee benefit plan or arrangement of the Company then in effect and provided further that any stock option or restricted stock held by the
Employee shall be treated in accordance with the provisions of the applicable stock option agreement or applicable restricted stock agreement,
respectively. In addition, the Company shall pay to the Employee that portion of the annual Bonus, on the date set forth herein, that is equal to the
number of days the Employee was employed by the Company (based on the Date of Termination), in the year that such termination occurred, divided
by 365 and multiplying the result thereof by the annual Bonus otherwise payable through the end of the year in which such termination occurred (or
based on the average annual Bonus paid to the Employee for the Employee’
s two prior years of employment if the Employee has been employed two
or more years), as if such termination had not occurred.
7