Certain Termination Payments. (a) If the Executive’s employment with the Company is terminated by the Company without Cause or by the Executive pursuant to Section 6(a)(v), in either case other than within two years after a Change in Control,
(i) The Company shall for three (3) years from the Executive’s Date of Termination (i) continue to pay to the Executive the Base Salary including accumulated deferred salary then in effect and provide him and his family with the benefits described in Section 5(b) then in effect (unless the terms of the applicable plans expressly prohibit the continuation of such benefits after such termination and cannot be amended, with applicability of such amendment limited to the Executive, to provide for such continuation, in which case the Company shall procure and pay for substantially similar substitute benefits).
(ii) In addition, the vesting of any stock option, stock grant, stock appreciation right or other compensatory grant of any nature to or for the benefit of the Executive (the “Grants”) shall be accelerated, and all such Grants, if any, that are unvested or not exercisable on the Date of Termination, shall be immediately exercisable for the duration of their respective terms, notwithstanding any contrary provision of any plan pursuant to which such Grant is made, including without limitation any such provision that purports to require exercise of rights under such Grant within a particular time period after termination of employment.
(b) If the Executive’s employment is terminated by the Company for Cause or is terminated pursuant to Section 6(a)(iv) other than within two years after a Change in Control, the Executive shall be entitled to no further compensation or other payments or benefits under this Agreement, except as to that portion of any unpaid salary and benefits accrued and earned by him hereunder up to and including the Date of Termination; provided, however that in the event of a termination by the Executive pursuant to Section 6(a)(iv), then all Grants that are exercisable on the Date of Termination shall be exercisable for the duration of their respective terms, notwithstanding any contrary provision of any plan pursuant to which such Grant is made, including without limitation any such provision that purports to require exercise of rights under such Grant within a particular time period after termination of employment.
(c) If Executive’s employment is terminated by the Executive with or without Cause, or is pursuant to Section 6(a)(...
Certain Termination Payments. (a) If Executive’s employment with the Company is terminated by the Company without Cause or by Executive pursuant to Paragraph 7(a)(v), in either case other than within two years after a Change in Control, the Company shall (i) continue to pay to Executive the per annum rate of salary then in effect under Paragraph 4(a) and provide him and his family with the benefits described in Paragraph 4(c) then in effect (unless the terms of the applicable plans expressly prohibit the continuation of such benefits after such termination and cannot be amended, with applicability of such amendment limited to Executive, to provide for such continuation, in which case the Company shall procure and pay for substantially similar substitute benefits except for any pension or 401(k) Plan benefit) for the balance of the term that would have remained hereunder had such termination not occurred, and (ii) pay Executive on or before the thirtieth day after the Date of Termination an amount equal to the product of (i) the target bonus opportunity for the year in which such termination occurs times (ii) the number of years for which a bonus opportunity would have been provided to him under Paragraph 4(b) hereof had he remained employed hereunder for the remainder of the term of this Agreement.
(b) If Executive’s employment is terminated by the Company with Cause or is terminated pursuant to Paragraph 7(a)(iv), Executive shall be entitled to no further compensation or other payments or benefits under this Agreement, except as to that portion of any unpaid xxx ary and benefits accrued and earned by him under Paragraphs 4(a) and 4(c) hereof up to and including the Date of Termination.
Certain Termination Payments. (a) If Executive’s employment with the Company is terminated by the Company without Cause or by Executive pursuant to Paragraph 7(a)(v), in either case other than within two years after a Change in Control, the Company shall (i) continue to pay to Executive the per annum rate of salary then in effect under Paragraph 4(a) and provide him and his family with the benefits described in Paragraph 4(c) then in effect (unless the terms of the applicable plans expressly prohibit the continuation of such benefits after such termination and cannot be amended, with applicability of such amendment limited to Executive, to provide for such continuation, in which case the Company shall procure and pay for substantially similar substitute benefits except for any pension or 401(k) Plan benefit) for the balance of the term that would have remained hereunder had such termination not occurred,.
(b) If Executive’s employment is terminated by the Company with Cause or is terminated pursuant to Paragraph 7(a)(iv), Executive shall be entitled to no further compensation or other payments or benefits under this Agreement, except as to that portion of any unpaid salary and benefits accrued and earned by him under Paragraphs 4(a) and 4(c) hereof up to and including the Date of Termination.
Certain Termination Payments. In the event of termination of Executive’s employment hereunder by Employer without Cause or by Executive with Good Reason, Executive shall be entitled to the following:
(i) During the Term, Employer shall continue to pay Executive for a one-year period immediately following the date of termination, salary at the rate in effect on the date of termination. Payment of such salary shall be made on the same periodic date as salary payments would have been made to Executive had he not been terminated. Other than such salary, no other benefits will accrue or be paid during this period except that Employer shall also pay the premiums for medical insurance to Executive for this one-year period on the same basis as if Executive were still employed, except that Employer’s obligation to pay the premiums for such medical insurance shall cease if Executive becomes eligible for such coverage by virtue of his employment with another company or entity.
(ii) In the event that Executive becomes employed in any capacity during the one-year period immediately following the date of termination, Employer’s obligation to pay Executive’s salary pursuant to Section 6(e)(i) herein shall be reduced by the amount of Executive’s compensation at his new employer.
Certain Termination Payments. In the event of termination of Executive’s employment hereunder by Employer without Cause or by Executive with Good Reason, Executive shall be entitled to the following:
(i) For and during the one-year period immediately following the date of termination, Employer shall continue to pay Executive a salary at the rate in effect on the date of termination. Payment of such salary shall be made on the same periodic date as salary payments would have been made to Executive had he not been terminated. Employer shall also provide medical insurance to Executive for this one year period on the same basis as if Executive were still employed, except that Employer’s obligation to provide such medical insurance shall cease if Executive becomes eligible for such coverage by virtue of his employment with another company or entity.
(ii) In the event that Executive becomes employed in any capacity during the one-year period immediately following the date of termination, Employer’s obligation to pay Executive’s salary pursuant to Section 6(e)(i) hereof shall be reduced by the amount of Executive’s compensation at his new employer.
Certain Termination Payments. (a) In the event Airways terminates this Agreement pursuant to Section 5.03(e), then Airways shall pay to VJET, upon VJET's demand, a termination fee equal to the sum of Three Million Dollars ($3,000,000) in immediately available funds.
(b) In the event VJET terminates this Agreement pursuant to Section 5.03(f), then Airways shall pay to VJET, upon VJET's demand all of VJET's out- of-pocket costs incurred to third parties in connection with this Agreement and the transactions contemplated hereby.
Certain Termination Payments. 9.1 If Consultant’s services are terminated by the Company with Cause or are terminated pursuant to Paragraph 8.2 (d) hereof, Consultant shall be entitled to no further compensation or other payments or benefits under this Agreement, except as to that portion of any unpaid compensation and benefits accrued and earned by him under Schedule A up to and including the Date of Termination. If this Agreement is terminated by the Company without Cause or by Consultant pursuant to Section 8.2(e), then Consultant shall be entitled to the Consulting Fees payable monthly for the balance of the Term and the immediate vesting of the Stock Options.
Certain Termination Payments. If Executive's employment with the Company is terminated by the Company without Cause or by Executive for Good Reason, in each case other than following a Change in Control, the Company shall (i) continue to pay to Executive the per annum rate of salary then in effect under Paragraph 4(a) and provide him and his family with the benefits described in Paragraph 4(c) then in effect (unless the terms of the applicable plans expressly prohibit the continuation of such benefits after such termination and cannot be amended, with applicability of such amendment limited to Executive, to provide for such continuation, in which case the Company shall procure and pay for substantially similar substitute benefits except for any pension or 401(k) Plan benefit) for a period equal to the remainder of the Initial Term or any One-Year Renewal Term, as the case may be, and (ii) pay Executive on or before the thirtieth day after the 109 Date of Termination an amount equal to the product of (i) the target bonus opportunity for the year in which such termination occurs times (ii) the number of years for which a bonus opportunity would have been provided to him under Paragraph 4(b) hereof had he remained employed hereunder for the Term.
Certain Termination Payments. In the event of any termination of this Lease as to all or any portion of the Premises pursuant to Sections 6.03, 7.04, 7.05, 8.26 or otherwise by Tenant exercising a right of termination, then Tenant shall pay to Landlord an amount equal to the excess of (i) Tenant’s Work Allowance and Tenant Required Work Allowance theretofore paid by Landlord to Tenant over (ii) the costs and expense incurred by Tenant for construction of its Tenant’s Allowance Work (excluding Tenant Property but including any cancellation fee incurred by Tenant as a result of the cancellation of its purchase order for Tenant Property due to the termination of this Lease) and Xxxxxx’s Required Work. In the event of a termination of this Lease for any reason, Tenant shall pay to Landlord a portion of the Fixed Rent equal to eighteen cents per annum per rentable square foot for the Blocks which would have been payable by Tenant from the time of such termination through and including the original Expiration Date set forth in Section 1.03 (without giving effect to any extension of the Term pursuant to Article 9 hereof) had this Lease not terminated discounted to present value at nine percent (9%) per annum. Any payment required to be made under this Section 7.06 shall be paid by Tenant to Landlord on or before the date that such termination becomes effective; provided, that if Tenant claims that no payment is required to be paid by Tenant under this Section 7.06, Tenant shall so notify Landlord in Tenant’s termination notice. Any such payment (or notice that no such payment is required to be paid) shall be accompanied by invoices or other evidence reasonably satisfactory to Landlord establishing the amount of such payment or that no payment is due. If Landlord disputes the amount of any payment by Tenant under this Section 7.06 and it is subsequently determined that the amount so paid by Xxxxxx was less than the amount due to Landlord hereunder, then the termination of this Lease as to the applicable space shall nevertheless be effective and Tenant shall pay to Landlord the amount of such underpayment together with interest at the Interest Rate from the date such amount was first due from Tenant through and including the date paid.
Certain Termination Payments. (a) If Executive's employment with the Company is terminated by the Company without Cause or by Executive for Good Reason, or in the event of Executive's death or Disability, the Company shall pay Executive (or his estate, as the case may be) on or before the thirtieth day after the Date of Termination an amount equal to (i) $140,000, if this Agreement is so terminated in 2002 or (ii) the greater of 50% of his salary for 2003 or salary for the remainder of 2003, if this Agreement is so terminated in 2003.
(b) If Executive's employment is terminated by the Company with Cause or by Executive without Good Reason, Executive shall be entitled to no further compensation or other payments or benefits under this Agreement, except as to that portion of any unpaid salary and any benefits accrued and earned by him under Paragraphs 4(a) and 4(c) hereof up to and including the Date of Termination.
