Accrued Obligations and Vested Benefits. The payments and benefits set forth in this Section 3 have been paid or will be paid and provided to Executive whether or not Executive signs this Agreement:
Accrued Obligations and Vested Benefits. Executive is entitled to receive the following accrued obligations: (a) in satisfaction of the provisions of Section 4.01 of the Severance Plan, all Base Salary earned or accrued but not yet paid through the Termination Date, and payment for any earned but unused vacation days accrued through the Termination Date, which payments shall be made to Executive no later than the next regularly scheduled payroll date after the Termination Date; and (b) reimbursement for any and all business expenses incurred prior to the Termination Date, subject to the terms of the Company's reimbursement policy. In addition, the Companies acknowledge and agree that, without regard to this Agreement, Executive is vested in respect of (x) options to purchase 35,188 shares of Holdings common stock at $84.34 per share, which were granted under the Employee Stock Option Agreement, dated as of July 5, 2016, between Holdings and Executive (in respect of options originally granted on January 19, 2015) and (y) his vested account balance under The Hertz Corporation Income Savings Plan. Further, the Companies agree that Executive shall be permitted to purchase his service vehicle in accordance with the policies of the Companies.
Accrued Obligations and Vested Benefits. Fxxxxxxx is entitled to receive the following accrued obligations: (a) pursuant to Section 5(f)(i) of the Employment Agreement, (i) all Base Salary earned or accrued but not yet paid through the Separation Date, and payment for any earned but unused vacation days accrued through the Separation Date, which payments shall be made to Fxxxxxxx no later than the next regularly scheduled payroll date after the Separation Date; and (ii) any employee benefits in which Fxxxxxxx is vested as of the Separation Date under the terms of the employee and executive benefit plans of the Companies in which Fxxxxxxx is a participant, which benefits shall be paid or provided in accordance with the terms of such plans; (b) any payments or benefits in which Fxxxxxxx is vested as of the Separation Date under the terms of the Management Equity Agreements, the Holdings Stock Incentive Plan, the Holdings 2008 Omnibus Incentive Plan and any individual equity award agreements granted under either such plan (collectively, the “Equity Plan Documents”), which payments and benefits shall be paid or provided in accordance with the terms of the Equity Plan Documents; and (c) in accordance with Section 4(d) of the Employment Agreement, reimbursement for any and all business expenses incurred prior to the Separation Date, subject to the terms of the Company’s reimbursement policy. In addition, for the avoidance of doubt, Fxxxxxxx is fully vested in The Hertz Corporation Account Balance Defined Benefit Pension Plan (the “Hertz Retirement Plan”), The Hertz Corporation Income Savings Plan (“401(k) Plan”), The Hertz Corporation Benefit Equalization Plan (“BEP”), and The Hertz Corporation Supplemental Executive Retirement Plan (the “SERP II”) in accordance with the terms of those plans now in effect, and shall receive payment of the relevant benefits due under those plans upon Fxxxxxxx’x separation from employment in such amounts and at such time(s) as are provided under the terms of each such plan(and any deferral/distribution elections that Fxxxxxxx may have made previously).
Accrued Obligations and Vested Benefits. Xxxxx is entitled to receive the following accrued obligations: (a) in satisfaction of the provisions of Section 5(e)(i) of the Employment Agreement and Section 4.01 of the Severance Plan, all Base Salary earned or accrued but not yet paid through the Date of Termination, and payment for any earned but unused vacation days accrued through the Date of Termination, which payments shall be made to Xxxxx no later than the next regularly scheduled payroll date after the Date of Termination; and (b) reimbursement for any and all business expenses incurred prior to the Date of Termination, subject to the terms of the Company's reimbursement policy. In addition, the Companies acknowledge and agree that, without regard to this Agreement, Xxxxx is vested in respect of options to purchase 126,168 shares of Holdings common stock at $90.16 per share, which were granted under the Employee Stock Option Agreement—Transition Options, dated as of November 21, 2014, between Holdings and Xxxxx (as modified in connection with Holdings's separation from Herc Holdings, Inc.).
Accrued Obligations and Vested Benefits. Executive is entitled to receive the following accrued obligations: (a) in satisfaction of the provisions of Section 4.01 of the Severance Plan, all Base Salary earned or accrued but not yet paid through the Termination Date, and payment for any earned but unused vacation days accrued through the Termination Date, which payments shall be made to Executive no later than the next regularly scheduled payroll date after the Termination Date; and (b) reimbursement for any and all business expenses incurred prior to the Termination Date, subject to the terms of the Company’s reimbursement policy. In addition, the Companies acknowledge and agree that, without regard to this Agreement, Executive is vested in respect of (x) equity awards which were granted under the Hertz Global Holdings, Inc. 2016 Omnibus Incentive Plan as reflected in the attached Schedule A, and (y) his vested account balance under The Hertz Corporation Income Savings Plan.
Accrued Obligations and Vested Benefits. Xxxxxxx is entitled to receive the following accrued obligations, which shall be paid no later than the next regularly scheduled payroll date after the Separation Date: (i) all salary earned or accrued but not yet paid through the Separation Date; (ii) reimbursement for any and all business expenses incurred prior to the Separation Date, subject to the terms of the Company’s reimbursement policy, and (iii) payment for any earned and accrued, but unused vacation days. In addition, Xxxxxxx is fully vested in The Hertz Corporation Account Balance Defined Benefit Pension Plan (the “Hertz Retirement Plan”), The Hertz Corporation Benefit Equalization Plan (“BEP”), The Hertz Corporation Supplemental Retirement Plan (“SERP II”) and The Hertz Corporation Income Savings Plan (“401(k) Plan”) in accordance with the terms of those plans now in effect. The current account balance/monthly benefit and payment elections are set forth on Exhibit A attached hereto.
Accrued Obligations and Vested Benefits. Employee is entitled to receive the following accrued obligations at his separation from service: (a) all base salary earned, accrued and owing, but not yet paid, (b) any vacation earned but not yet taken, (c) reimbursement for business expenses in accordance with Company policy, and (d) any benefits accrued and due in accordance with the terms of any applicable benefit plans or programs of the Company.
Accrued Obligations and Vested Benefits. Xxxxxxx is entitled to receive the following accrued obligations, which shall be paid as soon as practicable following the Termination Date: (i) all salary earned or accrued but not yet paid through the Termination Date; (ii) reimbursement for any and all business expenses incurred prior to the Termination Date, subject to the terms of the Company’s reimbursement policy, (iii) payment for any earned and accrued, but unused vacation days, (iv) payment of Xxxxxxx’x 2010 Hertz Annual Bonus; and (v) any other benefits required by law. In addition, Xxxxxxx is vested in Hertz’s Post-Retirement Medical Benefits (“Retiree Medical”), The Hertz Corporation Benefit Equalization Plan (“BEP”), The Hertz Corporation Supplemental Retirement Plan (“SERP II”), The Hertz Corporation Cash Balance Plan (“CBP”) and The Hertz Corporation 401K Plan (“410K Plan”) in accordance with the terms of those plans now in effect.
Accrued Obligations and Vested Benefits. Employee is entitled to receive the following accrued obligations at his separation from service: (a) all base salary earned, accrued and owing, but not yet paid, (b) any vacation earned but not yet taken, (c) reimbursement for business expenses in accordance with Company policy, and (d) any benefits accrued and due in accordance with the terms of any applicable benefit plans or programs of the Company. For the avoidance of doubt, Xxxxxxxx agrees that as of the date of this Agreement, Employee has no entitlement to any travel expense reimbursement pursuant to any Company policy or otherwise.
Accrued Obligations and Vested Benefits. Executive shall be paid all earned salary through the Separation Date, less all applicable deductions and taxes under federal, state and local law, and other deductions which are currently being made. Executive shall be paid for unused vacation or paid time off in accordance with Company policy. All reasonable and approved expenses incurred through the Separation Date shall be reimbursed in the ordinary course in accordance with Company policy, provided that all such expenses have been or will be submitted for reimbursement within thirty (30) days following the Separation Date. Executive’s health insurance benefits shall end as of January 31, 2018 in accordance with the terms of the applicable benefit plans, except as may be continued at Executive’s election under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). Benefits under the Company’s Supplemental Executive Retirement Plan (“SERP”) shall be payable in accordance with the provisions of such plan. Executive acknowledges and agrees that the amount due to Executive under the Company’s SERP is $793,728. Executive’s vested and unvested stock options and other equity awards (if any) shall be subject to the terms and conditions of Executive’s Employment Agreement and the Company’s stock option and other equity plans (if any) and subject to the terms and conditions of any related agreements in connection with such options or other equity awards. All other employee benefits and privileges shall end as of the Separation Date, except as otherwise agreed by the Company in writing or provided under the terms of the applicable benefit plans.
