Accrued Obligations Upon Termination. Upon termination of Executive’s employment with the Company for any reason, the Company shall be obligated to pay to Executive, all Base Salary earned by Executive through his last day of employment, and any earned and payable (but as of yet unpaid) Annual Bonus for the previous year, any accrued but unused vacation/paid time off and any unreimbursed business expenses to the extent incurred before the termination and for which he would have been entitled to reimbursement but for the termination of employment (to the extent that they have been properly submitted or are due, or if not previously submitted or reviewed by the Company, the Company shall promptly review them if promptly submitted by the Executive thereafter), which are referred to herein as the “Accrued Obligations”.
Accrued Obligations Upon Termination. Following the Transition Date, the Company shall: (a) pay (within the sixty (60) day period after the Transition Date) to Executive any amounts of Executive’s Annual Base Salary earned through the Transition Date but not theretofore paid; (b) promptly reimburse (in no event later than the period set forth in Section 12(e) of the Employment Agreement) to Executive any expenses owed to Executive pursuant to Section 3(h) of the Employment Agreement; (c) pay (within the sixty (60) day period after the Transition Date) to Executive, any accrued vacation pay owed to Executive in accordance with Section 3(g) of the Employment Agreement; and (d) pay to Executive any amount arising from Executive’s participation in, or benefits under any employee benefit plans, programs or arrangements under Section 3(f) of the Employment Agreement, which amounts shall be payable in accordance with the terms and conditions or such employee benefit plans, programs or arrangements.
Accrued Obligations Upon Termination. Either Party shall have the right to terminate Executive’s employment with the Company at any time by giving notice as described in Section 6.1 of this Agreement. Upon termination of Executive’s employment for any reason, the Company will pay the following to Executive on the Company’s first payroll date after Executive’s date of termination or earlier if required by law (collectively, the “Accrued Obligations”): (i) Executive’s accrued but unpaid salary through the date of termination, (ii) any unreimbursed business expenses incurred by Executive payable in accordance with the Company’s standard expense reimbursement policies, and (iii) benefits owed to Executive under any qualified retirement plan or health and welfare benefit plan in which Executive was a participant in accordance with applicable law and the provisions of such plan.
