Common use of Accrued Wages and Vacation; Expenses Clause in Contracts

Accrued Wages and Vacation; Expenses. Without regard to the reason for, or the timing of, Employee’s termination of employment: (i) the Company shall pay the Employee any unpaid base salary due for periods prior to the Termination Date; (ii) the Company shall pay the Employee all of the Employee’s accrued and unused vacation through the Termination Date; and (iii) following submission of proper expense reports by the Employee, the Company shall reimburse the Employee for all expenses reasonably and necessarily incurred by the Employee in connection with the business of the Company prior to the Termination Date. With respect to parts (i) and (ii) of this Section 4(c), payments shall be made as soon as practicable, but no later than ninety (90) days following Employee’s termination of employment. Reimbursements made pursuant to part (iii) of this Section 4(c) shall be made as soon as practicable, but no later than December 31st of the year following the calendar year in which such expense was incurred.

Appears in 4 contracts

Samples: Change of Control Severance Agreement (Threshold Pharmaceuticals Inc), Change of Control Severance Agreement (Threshold Pharmaceuticals Inc), Change of Control Severance Agreement (Threshold Pharmaceuticals Inc)

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Accrued Wages and Vacation; Expenses. Without regard to the reason for, or the timing of, Employee’s termination of employment: (i) the Company shall pay the Employee any unpaid base salary due for periods prior to the Termination Date; (ii) the Company shall pay the Employee all of the Employee’s accrued and unused vacation through the Termination Date; and (iii) following submission of proper expense reports by the Employee, the Company shall reimburse the Employee for all expenses reasonably and necessarily incurred by the Employee in connection with the business of the Company prior to the Termination Date. With respect to parts (i) and (ii) of this Section 4(c), payments shall be made as soon as practicable, but no later than ninety (90) days March 15th of the calendar year following Employee’s termination of employment. Reimbursements made pursuant to part (iii) of this Section 4(c) shall be made as soon as practicable, but no later than December 31st of the year following the calendar year in which such expense was incurred.

Appears in 3 contracts

Samples: Change of Control Severance Agreement (Threshold Pharmaceuticals Inc), Change of Control Severance Agreement (Threshold Pharmaceuticals Inc), Change of Control Severance Agreement (Threshold Pharmaceuticals Inc)

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Accrued Wages and Vacation; Expenses. Without regard to the reason for, or the timing of, Employee’s termination of employment: (i) the Company shall pay the Employee any unpaid base salary due for periods prior to the Termination Date; (ii) the Company shall pay the Employee all of the Employee’s accrued and unused vacation through the Termination Date; and (iii) following submission of proper expense reports by the Employee, the Company shall reimburse the Employee for all expenses reasonably and necessarily incurred by the Employee in connection with the business of the Company prior to the Termination Date. With respect to parts (i) and (ii) of this Section 4(c4(b), payments shall be made as soon as practicable, but no later than ninety (90) days March 15th of the calendar year following Employee’s termination of employment. Reimbursements made pursuant to part (iii) of this Section 4(c4(b) shall be made as soon as practicable, but no later than December 31st of the year following the calendar year in which such expense was incurred.

Appears in 1 contract

Samples: Change of Control Severance Agreement (Threshold Pharmaceuticals Inc)

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