Common use of Accrued Obligations Upon Termination Clause in Contracts

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”.