Common use of Base Salary; Accrued Vacation Clause in Contracts

Base Salary; Accrued Vacation. Executive shall receive severance pay in an amount equal to nine (9) months of the Base Salary (at the rate in effect immediately before the date of termination) paid in accordance with the Company’s normal payroll practices and subject to the usual required withholding, plus an amount equal to all accrued and unpaid vacation or paid-time off outstanding on Executive’s termination date. To the extent that all sums due pursuant to this Section 8(a)(i) have not been paid by the 15th day of third month of the calendar year following the calendar year of termination during which the date of termination occurs, the remaining amount due will be paid on that date.

Appears in 4 contracts

Samples: Employment Agreement (Luna Innovations Inc), Employment Agreement (Luna Innovations Inc), Employment Agreement (Luna Innovations Inc)

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Base Salary; Accrued Vacation. Executive shall receive severance pay in an amount equal to nine twelve (912) months of the Base Salary (at the rate in effect immediately before the date of termination) paid in accordance with the Company’s normal payroll practices and subject to the usual required withholding, plus an amount equal to all accrued and unpaid vacation or paid-time off outstanding on Executive’s termination date. To the extent that all sums due pursuant to this Section 8(a)(i7(a)(i) have not been paid by the 15th day of third month of the calendar year following the calendar year of termination during which the date of termination occurs, the remaining amount due will be paid on that date.

Appears in 4 contracts

Samples: Employment Agreement (Luna Innovations Inc), Employment Agreement (Luna Innovations Inc), Employment Agreement (Luna Innovations Inc)

Base Salary; Accrued Vacation. Executive shall receive severance pay in an amount equal to nine twelve (912) months of the Base Salary (at the rate in effect immediately before the date of termination) paid in accordance with the Company’s normal payroll practices and subject to the usual required withholding, plus an amount equal to all accrued and unpaid vacation or paid-time off outstanding on Executive’s termination date. To the extent that all sums due pursuant to this Section 8(a)(i7(a)(i) have not been paid by the 15th 15 th day of third month of the calendar year following the calendar year of termination during which the date of termination occurs, the remaining amount due will be paid on that date.

Appears in 1 contract

Samples: Employment Agreement (Luna Innovations Inc)

Base Salary; Accrued Vacation. Executive shall receive severance pay in an amount equal to nine twelve (912) months of the Base Salary (at the rate in effect immediately before the date of termination) paid in accordance with the Company’s normal payroll practices and subject to the usual required withholding, plus an amount equal to all accrued and unpaid vacation or paid-time off outstanding on Executive’s termination date. To the extent that all sums due pursuant to this Section 8(a)(i) have not been paid by the 15th day of third month of the calendar year following the calendar year of termination during which the date of termination occurs, the remaining amount due will be paid on that date.

Appears in 1 contract

Samples: Employment Agreement (Luna Innovations Inc)

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Base Salary; Accrued Vacation. Executive shall receive severance pay in an amount equal to nine (9) months of the Base Salary (at the rate in effect immediately before the date of termination) paid in accordance with the Company’s normal payroll practices and subject to the usual required withholding, plus an amount equal to all accrued and unpaid vacation or paid-time off outstanding on Executive’s termination date. To the extent that all sums due pursuant to this Section 8(a)(i) have not been paid by the 15th 15 th day of third month of the calendar year following the calendar year of termination during which the date of termination occurs, the remaining amount due will be paid on that date.

Appears in 1 contract

Samples: Employment Agreement (Luna Innovations Inc)

Base Salary; Accrued Vacation. Executive shall receive severance pay in an amount equal to nine eighteen (918) months of the Base Salary (at the rate in effect immediately before the date of termination) paid in accordance with the Company’s normal payroll practices and subject to the usual required withholding, plus an amount equal to all accrued and unpaid vacation or paid-time off outstanding on Executive’s termination date. To the extent that all sums due pursuant to this Section 8(a)(i7(a)(i) have not been paid by the 15th day of third month of the calendar year following the calendar year of termination during which the date of termination occurs, the remaining amount due will be paid on that date.

Appears in 1 contract

Samples: Employment Agreement (Luna Innovations Inc)

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