By the Company Without Cause or By the Executive for Good Reason. If the Company terminates the Executive's employment during the Employment Period other than for Cause, Death, or Disability or the Executive terminates his employment during the Employment Period for Good Reason, the Company shall pay the Executive: (A) the Executive's full Base Salary through the Date of Termination and all other unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination in connection with any fringe benefits pursuant to Section 5.2 and expenses pursuant to Section 6; and (B) a lump-sum severance package equal to six months of Executive's Base Salary plus an amount equal to the average annual bonus earned by the Executive for the previous two fiscal years (the "Severance Payment"). The Severance Payment under this Section 8.4 shall be payable to the Executive within 30 days of the Notice of Termination.
Appears in 2 contracts
Samples: Executive Employment Agreement (Liquidity Services Inc), Executive Employment Agreement (Liquidity Services Inc)
By the Company Without Cause or By the Executive for Good Reason. If the Company terminates the Executive's ’s employment during the Employment Period other than for Cause, Death, or Disability or the Executive terminates his employment during the Employment Period for Good Reason, the Company shall pay the Executive: (A) the Executive's ’s full Base Salary through the Date of Termination and all other unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination in connection with any fringe benefits pursuant to Section 5.2 and expenses pursuant to Section 6; and (B) a lump-sum severance package equal to six (i) twelve months of the Executive's ’s Base Salary plus and (ii) an amount equal to the average annual target incentive bonus to be earned by the Executive for (collectively the previous two fiscal years (the "“Severance Payment"”). The Subject to Section 8.5 below, the Severance Payment under this Section 8.4 shall be payable to the Executive within 30 days of the Notice of Termination.
Appears in 2 contracts
Samples: Executive Employment Agreement (Liquidity Services Inc), Executive Employment Agreement (Liquidity Services Inc)
By the Company Without Cause or By the Executive for Good Reason. If the Company terminates the Executive's ’s employment during the Employment Period other than for Cause, Death, or Disability or the Executive terminates his employment during the Employment Period for Good Reason, the Company shall pay the Executive: (A) the Executive's ’s full Base Salary through the Date of Termination and all other unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination in connection with any fringe benefits pursuant to Section 5.2 and expenses pursuant to Section 6; and (B) a lump-sum severance package equal to six months of Executive's ’s Base Salary plus an amount equal to six months of the average annual bonus earned by the Executive for during the previous two fiscal years (the "“Severance Payment"”). The Severance Payment under this Section 8.4 shall be payable to the Executive within 30 days of the Notice of Termination.
Appears in 2 contracts
Samples: Executive Employment Agreement (Liquidity Services Inc), Executive Employment Agreement (Liquidity Services Inc)
By the Company Without Cause or By the Executive for Good Reason. If the Company terminates the Executive's ’s employment during the Employment Period other than for Cause, Death, or Disability or the Executive terminates his employment during the Employment Period for Good Reason, the Company shall pay the Executive: (A) the Executive's ’s full Base Salary through the Date of Termination and all other unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination in connection with any fringe benefits pursuant to Section 5.2 and expenses pursuant to Section 6; and (B) a lump-sum severance package equal to (i) six months of the Executive's ’s Base Salary plus and (ii) an amount equal to six months of the average annual bonus earned by the Executive for during the previous two fiscal years (collectively the "“Severance Payment"”). The Severance Payment under this Section 8.4 shall be payable to the Executive within 30 days of the Notice of Termination.
Appears in 1 contract
Samples: Executive Employment Agreement (Liquidity Services Inc)
By the Company Without Cause or By the Executive for Good Reason. If the Company terminates the Executive's employment during the Employment Period other than for Cause, Death, or Disability or the Executive terminates his employment during the Employment Period for Good Reason, the Company shall pay the Executive: (A) the Executive's full Base Salary through the Date of Termination and all other unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination in connection with any fringe benefits pursuant to Section 5.2 and expenses pursuant to Section 6; and (B) a lump-sum severance package equal to six months one month of the Executive's Base Salary plus an amount equal to one month of the average annual bonus earned by the Executive for the previous two fiscal years (collectively the "Severance Payment"). The After the third month of employment is completed, the Severance Payment under this Section 8.4 shall be of 6 months. Subject to Section 8.5 below, the Severance Payment shall be payable to the Executive within 30 days of the Notice of Termination.
Appears in 1 contract
Samples: Executive Employment Agreement (Liquidity Services Inc)
By the Company Without Cause or By the Executive for Good Reason. If the Company terminates the Executive's ’s employment during the Employment Period other than for Cause, Death, or Disability or the Executive terminates his employment during the Employment Period for Good Reason, the Company shall pay the Executive: (A) the Executive's ’s full Base Salary through the Date of Termination and all other unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination in connection with any fringe benefits pursuant to Section 5.2 and expenses pursuant to Section 6; and (B) a lump-sum severance package equal to six (i) twelve months of the Executive's ’s Base Salary plus and (ii) an amount equal to the average annual incentive bonus earned by the Executive for over the previous past two fiscal years (collectively the "“Severance Payment"”). The Subject to Section 8.5 below, the Severance Payment under this Section 8.4 shall be payable to the Executive within 30 days of the Notice of Termination.
Appears in 1 contract
Samples: Executive Employment Agreement (Liquidity Services Inc)