Amounts Payable in the Event of a Termination Which is not a Qualifying Termination Sample Clauses

Amounts Payable in the Event of a Termination Which is not a Qualifying Termination. If your employment is terminated for any reason, other than a Qualifying Termination, on or before December 31, 2005, you shall be entitled to receive, through the date of termination, any accrued, unused vacation, any unpaid Base Salary, any fringe benefits provided in the Employment Letter accrued through the date of termination, any unreimbursed business expenses, any benefits to which you may be otherwise entitled under the terms of the qualified plan and, any supplemental retirement plans or other employee benefit plans or programs in which you participate. In addition, if your employment is terminated due to your death or disability, you shall be entitled to (x) the annual bonus reimbursement payment, as described in paragraph 12c of the Employment Letter, if it is then unpaid and (y) the then outstanding $250,000 retention payment, as described in paragraph 12b of the Employment Letter. You hereby acknowledge and agree that nothing contained in this Agreement shall confer upon you a right for you to be continued in the employ of the Company for any specified period of time. Except as expressly set forth herein, nothing contained in this Agreement shall be deemed to be a waiver of any other rights and benefits that you may have under your Employment Letter, the Option Agreement or any other program or plan maintained by the Company for its employees and officers. I look forward to your contribution to Vxxxxx’x success. If you are in agreement with the above terms, please indicate by your signature below. Sincerely, /s/ Txx Xxxxxx Txx Xxxxxx I HEREBY AGREE TO THE ABOVE TERMS: /s/ Lxxxx X. Xxxxxxxx Lxxxx X. Xxxxxxxx Dated: 12/10/04 EXHIBIT A RELEASE OF CLAIMS AGREEMENT
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Related to Amounts Payable in the Event of a Termination Which is not a Qualifying Termination

  • Termination Other Than a Qualifying Termination If the termination of the Executive’s employment with the Company Group is not a Qualifying Termination, then the Executive will not be entitled to receive severance or other benefits.

  • SEVERANCE COMPENSATION IN THE EVENT OF A TERMINATION OTHER THAN FOR CAUSE In the event of a Termination Other Than for Cause, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of twelve (12) months from the date of such termination, on the dates specified in Section 3.1, and Employee shall also be paid an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.2 to the contrary, the Employee may in the Employee’s sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Other Than for Cause, elect to receive from the Employer a lump sum severance payment by bank cashier’s check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.2. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate on 90-day U.S. Treasury bills, as reported in The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee’s election. The Employee shall also be entitled to have the vesting of any awards granted to the Employee under any AHC or Avocent stock option plans fully accelerated. The Employee shall be provided with medical plan benefits under any health plans of Avocent or Employer in which the Employee is a participant to the full extent of the Employee’s rights under such plans for a period of twelve (12) months from the date of such Termination Other Than for Cause (even if Employee elects to receive a lump sum severance payment).

  • Termination Giving Rise to a Termination Payment If there is a Covered Termination by the Executive for Good Reason, or by the Company other than by reason of (i) death, (ii) disability pursuant to Section 11, or (iii) Cause, then the Executive shall be entitled to receive, and the Company shall promptly pay, Accrued Benefits and, in lieu of further base salary for periods following the Termination Date, as liquidated damages and additional severance pay and in consideration of the covenant of the Executive set forth in Section 13(a), the Termination Payment pursuant to Section 8(a).

  • In the Event of Termination In the event of termination of this Agreement:

  • PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION (a) Upon the occurrence of an Event of Termination (as herein defined) during the Executive's term of employment under this Agreement, the provisions of this Section shall apply. As used in this Agreement, an "

  • Compensation in the Event of Termination In the event that the Executive’s employment hereunder terminates prior to the expiration of this Agreement for any reason provided in Section 5 hereof, the Company shall pay the Executive, compensation and provide the Executive and the Executive’s eligible dependents with benefits as follows:

  • Notice of Termination Events or Unmatured Termination Events A statement of the chief financial officer or chief accounting officer of the Seller setting forth details of any Termination Event or Unmatured Termination Event and the action which the Seller proposes to take with respect thereto.

  • Benefits Payable Upon Termination Following the end of the Employment Period pursuant to Section 5(a), Executive (or, in the event of his death, his surviving spouse, if any, or if none, his estate) shall be paid the type or types of compensation determined to be payable in accordance with the following table, such payment to be made in the form specified in such table and at the time established pursuant to Section 7 hereof. Capitalized terms used in such table shall have the meanings set forth in Section 5(d) hereof.

  • Right to Terminate Following Termination Event Sections 6(b)(ii)-(iv) are deleted in their entirety and replaced by the following:

  • Qualifying Terminations The occurrence of any one of the following events within twenty-four calendar months after a Change in Control of the Company will trigger the payment of Severance Benefits under this Agreement:

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