Company Termination Without Cause. If the Company wishes to terminate Executive's employment under this Agreement for a reason other than “Cause” (as defined in subsection g, below), or death or Disability (as defined in subsection e, above), the Company shall provide to Executive written notice of such intent at least one (1) year before the intended termination date. During the period from such written notice through the first anniversary of the date on which such written notice was provided, Executive shall continue to be paid her base salary and other compensation required by Section 3, above, each at a rate no less than the rate in effect immediately before the notice date; provided, however, that if Executive's employment terminates before the end of such period, her right to continued salary and other compensation shall be subject to the Six-Month Delay Rule described in Section 7.c, below, and the provisions of Section 7.g (Cash in Lieu of Benefits), below. Executive shall continue to be eligible for annual incentive payments after the Company has provided notice of its intent to terminate Executive's employment hereunder. Any annual incentive payments due shall be paid at the end of the performance period, at the time prescribed by the Incentive Plan, based on (and subject to) actual achievement of the applicable performance goals and pro-rated if Executive's employment terminates before the end of the performance period.
Appears in 1 contract
Samples: Employment Agreement (Avnet Inc)
Company Termination Without Cause. If the Company wishes to terminate Executive's ’s employment under this Agreement for a reason other than “Cause” (as defined in subsection g, below), or death or Disability (as defined in subsection e, above), the Company shall provide to Executive written notice of such intent at least one ninety (190) year days before the intended termination date. During the period from such written notice through the first anniversary of the date on which such written notice was provided, Executive shall continue to be paid her his base salary and other compensation required by Section 3, above, each at a rate no less than the rate in effect immediately before the notice date; provided, however, that if (i) Executive's employment terminates before the end of such period, her ’s right to continued salary and other compensation shall be subject to the Six-Month Delay Rule described in Section 7.c, below, and the provisions of Section 7.g (Cash in Lieu of Benefits), below, and (ii) if Executive’s employment terminates before the first anniversary of his start date with the Company, the Company shall make the payments required by this subsection f within ten days after his termination date. Executive shall continue to be eligible for annual incentive payments after the Company has provided notice of its intent to terminate Executive's ’s employment hereunder. Any annual incentive payments due shall be paid at the end of the performance period, at the time prescribed by the Incentive Plan, based on (and subject to) actual achievement of the applicable performance goals and pro-rated if Executive's ’s employment terminates before the end of the performance period.
Appears in 1 contract
Samples: Employment Agreement (Avnet Inc)
Company Termination Without Cause. If the Company wishes to terminate Executive's ’s employment under this Agreement for a reason other than “Cause” (as defined in subsection g, below), or death or Disability (as defined in subsection e, above), the Company shall provide to Executive written notice of such intent at least one (1) year before the intended termination date. During the period from such written notice through the later of (i) the first anniversary of the date on which such written notice was providedprovided or (ii) the second anniversary of the Effective Date (i.e., the end of the initial term of this Agreement), Executive shall continue to be paid her his base salary and other compensation required by Section 3, above, each at a rate no less than the rate in effect immediately before the notice date; provided, however, that if Executive's ’s employment terminates before the end of such period, her his right to continued salary and other compensation shall be subject to the Six-Month Delay Rule described in Section 7.c, below, and the provisions of Section 7.g (Cash in Lieu of Benefits), below. Executive shall continue to be eligible for annual incentive payments after the Company has provided notice of its intent to terminate Executive's ’s employment hereunder. Any annual incentive payments due shall be paid at the end of the performance period, at the time prescribed by the Incentive Plan, based on (and subject to) actual achievement of the applicable performance goals and pro-rated if Executive's ’s employment terminates before the end of the performance period.
Appears in 1 contract
Samples: Employment Agreement (Avnet Inc)
Company Termination Without Cause. If the Company wishes to terminate Executive's ’s employment under this Agreement for a reason other than “Cause” (as defined in subsection g, below), or death or Disability (as defined in subsection e, above), the Company shall provide to Executive written notice of such intent at least one ninety (190) year days before the intended termination date. During the period from such written notice through the first anniversary later of (i) the last day of the date ninety (90) day notice period or (ii) the last day of the Company’s fiscal year beginning on which such written notice was providedJuly 3, 2011, Executive shall continue to be paid her his base salary and other compensation required by Section 3, above, each at a rate no less than the rate in effect immediately before the notice date; provided, however, that if Executive's ’s employment terminates before the end of such period, her his right to continued salary and other compensation shall be subject to the Six-Month Delay Rule described in Section 7.c, below, and the provisions of Section 7.g (Cash in Lieu of Benefits), below. Executive shall continue to be eligible for annual incentive payments after the Company has provided notice of its intent to terminate Executive's ’s employment hereunder. Any annual incentive payments due shall be paid at the end of the performance period, at the time prescribed by the Incentive Plan, based on (and subject to) actual achievement of the applicable performance goals and pro-rated if Executive's ’s employment terminates before the end of the performance period.
Appears in 1 contract
Samples: Employment Agreement (Avnet Inc)