Benefits and Payments on Termination. If the provisions of this Exhibit A apply, then Executive shall be entitled to the following payments and benefits (in addition to any payments and benefits to which he is entitled under paragraph 5(a) of the Agreement and the following provisions of this Exhibit A): (a) a lump sum payment equal to 100% of Executive’s Annual Base Salary; (b) continuation of health benefits for Executive and Executive’s qualified beneficiaries for period beginning on the Termination Date and ending on the one year anniversary of the Termination Date at a cost which is no greater than is charged to active employees of the Company and their dependents, which continuing health benefits shall be provided only if Executive and Executive’s qualified beneficiaries, as applicable, make a timely and proper election to be covered under COBRA; (c) a lump sum payment equal to one times Executive’s Target Incentive Bonus for the year in which the Termination Date occurs; (d) immediate vesting of any and all stock options, restricted stock units, shares of restricted stock or other incentive awards held by Executive; and (e) an amount equal to the Target Incentive Bonus that would have been payable to Executive for the fiscal year in which the Termination Date occurs assuming all applicable performance targets had been satisfied, pro rated (on a daily basis) through Executive’s Termination Date. Payments to be made to Executive pursuant to this Section 1 shall be made no later than 15 days after Executive’s Termination Date.
Appears in 3 contracts
Samples: Employment Agreement (iPCS, INC), Employment Agreement (iPCS, INC), Employment Agreement (iPCS, INC)
Benefits and Payments on Termination. If the provisions of this Exhibit A apply, then Executive shall be entitled to the following payments and benefits (in addition to any payments and benefits to which he is entitled under paragraph 5(a) of the Agreement and the following provisions of this Exhibit A):
(a) a lump sum payment equal to 100% of Executive’s 's Annual Base Salary;
(b) continuation of health benefits for Executive and Executive’s 's qualified beneficiaries for period beginning on the Termination Date and ending on the one year first anniversary of the Termination Date at a cost which is no greater than is charged to active employees of the Company and their dependents, which continuing health benefits shall be provided only if Executive and Executive’s 's qualified beneficiaries, as applicable, make a timely and proper election to be covered under COBRA;
(c) a lump sum payment equal to one times Executive’s 's Target Incentive Bonus for the year in which the Termination Date occurs;
(d) immediate vesting of any and all stock options, restricted stock units, shares of restricted stock or other incentive awards held by Executive; and
(e) an amount equal to the Target Incentive Bonus that would have been payable to Executive for the fiscal year in which the Termination Date occurs assuming all applicable performance targets had been satisfied, pro rated (on a daily basis) through Executive’s 's Termination Date. Payments to be made to Executive pursuant to this Section 1 shall be made no later than 15 days after Executive’s 's Termination Date.
Appears in 2 contracts
Samples: Employment Agreement (Ipcs Inc), Employment Agreement (Ipcs Inc)
Benefits and Payments on Termination. If the provisions of this Exhibit A apply, then Executive shall be entitled to the following payments and benefits (in addition to any payments and benefits to which he is entitled under paragraph 5(a) of the Agreement and the following provisions of this Exhibit A):
(a) a lump sum payment equal to 100150% of Executive’s Annual Base Salary;
(b) continuation of health benefits for Executive and Executive’s qualified beneficiaries for period beginning on the Termination Date and ending on the one year 18-month anniversary of the Termination Date at a cost which is no greater than is charged to active employees of the Company and their dependents, which continuing health benefits shall be provided only if Executive and Executive’s qualified beneficiaries, as applicable, make a timely and proper election to be covered under COBRA;
(c) a lump sum payment equal to one times Executive’s Target Incentive Bonus for the year in which the Termination Date occurs;
(d) immediate vesting of any and all stock options, restricted stock units, shares of restricted stock or other incentive awards held by Executive; and
(e) an amount equal to the Target Incentive Bonus that would have been payable to Executive for the fiscal year in which the Termination Date occurs assuming all applicable performance targets had been satisfied, pro rated (on a daily basis) through Executive’s Termination Date. Payments to be made to Executive pursuant to this Section 1 shall be made no later than 15 days after Executive’s Termination Date.
Appears in 1 contract
Samples: Employment Agreement (iPCS, INC)
Benefits and Payments on Termination. If the provisions of this Exhibit A apply, then Executive shall be entitled to the following payments and benefits (in addition to any payments and benefits to which he is entitled under paragraph 5(a) of the Agreement and the following provisions of this Exhibit A):
(a) a lump sum payment equal to 100% of Executive’s Annual Base Salary;
(b) continuation of health benefits for Executive and Executive’s qualified beneficiaries for period beginning on the Termination Date and ending on the one year first anniversary of the Termination Date at a cost which is no greater than is charged to active employees of the Company and their dependents, which continuing health benefits shall be provided only if Executive and Executive’s qualified beneficiaries, as applicable, make a timely and proper election to be covered under COBRA;
(c) a lump sum payment equal to one times Executive’s Target Incentive Bonus for the year in which the Termination Date occurs;
(d) immediate vesting of any and all stock options, restricted stock units, shares of restricted stock or other incentive awards held by Executive; and
(e) an amount equal to the Target Incentive Bonus that would have been payable to Executive for the fiscal year in which the Termination Date occurs assuming all applicable performance targets had been satisfied, pro rated (on a daily basis) through Executive’s Termination Date. Payments to be made to Executive pursuant to this Section 1 shall be made no later than 15 days after Executive’s Termination Date.
Appears in 1 contract
Samples: Employment Agreement (Ipcs Inc)
Benefits and Payments on Termination. If the provisions of this Exhibit A apply, then Executive shall be entitled to the following payments and benefits (in addition to any payments and benefits to which he is entitled under paragraph 5(a) of the Agreement and the following provisions of this Exhibit A):
(a) a lump sum payment equal to 100% of three times Executive’s 's Annual Base Salary;
(b) continuation of health benefits for Executive and Executive’s 's qualified beneficiaries for period beginning on the Termination Date and ending on the one year third anniversary of the Termination Date at a cost which is no greater than is charged to active employees of the Company and their dependents, which continuing health benefits shall be provided only if Executive and Executive’s 's qualified beneficiaries, as applicable, make a timely and proper election to be covered under COBRA;
(c) a lump sum payment equal to one times Executive’s 's Target Incentive Bonus for the year in which the Termination Date occurs;
(d) immediate vesting of any and all stock options, restricted stock units, shares of restricted stock or other incentive awards held by Executive; and
(e) an amount equal to the Target Incentive Bonus that would have been payable to Executive for the fiscal year in which the Termination Date occurs assuming all applicable performance targets had been satisfied, pro rated (on a daily basis) through Executive’s 's Termination Date. Payments to be made to Executive pursuant to this Section 1 shall be made no later than 15 days after Executive’s 's Termination Date.
Appears in 1 contract
Samples: Employment Agreement (Ipcs Inc)
Benefits and Payments on Termination. If the provisions of this Exhibit A apply, then Executive shall be entitled to the following payments and benefits (in addition to any payments and benefits to which he is entitled under paragraph 5(a) of the Agreement and the following provisions of this Exhibit A):
(a) a lump sum payment equal to 100150% of Executive’s Annual Base Salary;
(b) continuation of health benefits for Executive and Executive’s qualified beneficiaries for period beginning on the Termination Date and ending on the one year eighteen-month anniversary of the Termination Date at a cost which is no greater than is charged to active employees of the Company and their dependents, which continuing health benefits shall be provided only if Executive and Executive’s qualified beneficiaries, as applicable, make a timely and proper election to be covered under COBRA;
(c) a lump sum payment equal to one times Executive’s Target Incentive Bonus for the year in which the Termination Date occurs;
(d) immediate vesting of any and all stock options, restricted stock units, shares of restricted stock or other incentive awards held by Executive; and
(e) an amount equal to the Target Incentive Bonus that would have been payable to Executive for the fiscal year in which the Termination Date occurs assuming all applicable performance targets had been satisfied, pro rated (on a daily basis) through Executive’s Termination Date. Payments to be made to Executive pursuant to this Section 1 shall be made no later than 15 days after Executive’s Termination Date.
Appears in 1 contract
Samples: Employment Agreement (iPCS, INC)
Benefits and Payments on Termination. If the provisions of this Exhibit A apply, then Executive shall be entitled to the following payments and benefits (in addition to any payments and benefits to which he is entitled under paragraph Section 5(a) of the Agreement and the following provisions of this Exhibit A):
(a) a. a lump sum payment equal to 100150% of Executive’s Annual Base Salary;
(b) b. continuation of health benefits for Executive and Executive’s qualified beneficiaries for period beginning on the Termination Date and ending on the one year eighteen-month anniversary of the Termination Date at a cost which is no greater than is charged to active employees of the Company and their dependents, which continuing health benefits shall be provided only if Executive and Executive’s qualified beneficiaries, as applicable, make a timely and proper election to be covered under COBRA;
(c) c. a lump sum payment equal to one times Executive’s Target Incentive Bonus for the year in which the Termination Date occurs;
(d) d. immediate vesting of any and all stock options, restricted stock units, shares of restricted stock or other incentive awards held by Executive; and
(e) e. an amount equal to the Target Incentive Bonus that would have been payable to Executive for the fiscal year in which the Termination Date occurs assuming all applicable performance targets had been satisfied, pro rated (on a daily basis) through Executive’s Termination Date. Payments to be made to Executive pursuant to this Section 1 shall be made no later than 15 days after Executive’s Termination Date.
Appears in 1 contract
Samples: Employment Agreement (iPCS, INC)
Benefits and Payments on Termination. If the provisions of this Exhibit A apply, then Executive shall be entitled to the following payments and benefits (in addition to any payments and benefits to which he she is entitled under paragraph 5(a) of the Agreement and the following provisions of this Exhibit A):
(a) a lump sum payment equal to 100% of Executive’s 's Annual Base Salary;
(b) continuation of health benefits for Executive and Executive’s 's qualified beneficiaries for period beginning on the Termination Date and ending on the one year first anniversary of the Termination Date at a cost which is no greater than is charged to active employees of the Company and their dependents, which continuing health benefits shall be provided only if Executive and Executive’s 's qualified beneficiaries, as applicable, make a timely and proper election to be covered under COBRA;
(c) a lump sum payment equal to one times Executive’s 's Target Incentive Bonus for the year in which the Termination Date occurs;
(d) immediate vesting of any and all stock options, restricted stock units, shares of restricted stock or other incentive awards held by Executive; and
(e) an amount equal to the Target Incentive Bonus that would have been payable to Executive for the fiscal year in which the Termination Date occurs assuming all applicable performance targets had been satisfied, pro rated (on a daily basis) through Executive’s 's Termination Date. Payments to be made to Executive pursuant to this Section 1 shall be made no later than 15 days after Executive’s 's Termination Date.
Appears in 1 contract
Samples: Employment Agreement (Ipcs Inc)
Benefits and Payments on Termination. If the provisions of this Exhibit A apply, then Executive shall be entitled to the following payments and benefits (in addition to any payments and benefits to which he is entitled under paragraph 5(a) of the Agreement and the following provisions of this Exhibit A):
(a) a lump sum payment equal to 100% of three times Executive’s Annual Base Salary;
(b) continuation of health benefits for Executive and Executive’s qualified beneficiaries for period beginning on the Termination Date and ending on the one year third anniversary of the Termination Date at a cost which is no greater than is charged to active employees of the Company and their dependents, which continuing health benefits shall be provided only if Executive and Executive’s qualified beneficiaries, as applicable, make a timely and proper election to be covered under COBRA;
(c) a lump sum payment equal to one times Executive’s Target Incentive Bonus for the year in which the Termination Date occurs;
(d) immediate vesting of any and all stock options, restricted stock units, shares of restricted stock or other incentive awards held by Executive; and
(e) an amount equal to the Target Incentive Bonus that would have been payable to Executive for the fiscal year in which the Termination Date occurs assuming all applicable performance targets had been satisfied, pro rated (on a daily basis) through Executive’s Termination Date. Payments to be made to Executive pursuant to this Section 1 shall be made no later than 15 days after Executive’s Termination Date.
Appears in 1 contract
Samples: Employment Agreement (iPCS, INC)