Common use of Accrued Wages and Benefits Clause in Contracts

Accrued Wages and Benefits. Without regard to whether Executive executes or revokes the Release, the Company will pay or provide Executive with any amounts earned, accrued and owing but not yet paid under Section 3 of the Employment Agreement, including but not limited to base salary for services rendered through the Termination Date and any benefits accrued and due under any applicable benefit plans and programs of the Company. The Company will pay Executive her accrued but unused vacation. The Company will also pay Executive $112,659, which is the amount of Executive’s bonus earned for fiscal year 2015 (the “2015 Bonus”), less applicable taxes, which will paid to Executive at the same time and under the same terms and conditions as such bonuses are paid to other executives of the Company who participate in the 2015 bonus plan. Upon Executive’s receipt of her final paycheck, which includes payment for services through the Termination Date and the amount for accrued but unused vacation, and Executive’s receipt of the 2015 Bonus, Executive will have received all wages and benefits owed to her by virtue of her employment with the Company or termination thereof. Executive is not eligible for any other payments or benefits by virtue of her employment with the Company or termination thereof except for those expressly described in this Agreement. Executive will receive the payments described in this Section 1(b) whether or not she signs this Agreement. Executive will not receive the separation pay or benefits described in Section 1(a) of this Agreement if she (i) does not sign this Agreement, (ii) rescinds the release of claims in accordance with the Release, or (iii) violates any of the terms and conditions set forth in this Agreement. The Company agrees that Executive is not obligated to seek other employment or take any other action by way of mitigation of any of the amounts and benefits payable to her under any of the provisions of this Agreement.