Compensation in Event of Termination. Upon termination of Executive’s employment for any reason, this Agreement shall automatically terminate and the Company shall have no further obligation to Executive except to pay the amounts set forth in this Section 7.
(a) Without regard to the date on which employment terminates or the reason for such termination, Executive (or his estate in the event of Executive’s death) shall be entitled to all salary, Bonuses, Vacation, Fringe Benefits and expense reimbursements accrued or pro rated through the termination date; provided, however, that no pro rated Bonus shall be paid if Executive is terminated with Cause (as defined herein) or resigns. To the extent Executive is entitled to a Bonus under this provision, said payment shall be made at the same time bonuses are distributed to active employees.
(b) In the event Executive’s employment is terminated pursuant to Section 5(a)v above, Executive shall be entitled to receive, in addition to the salary, Bonuses, Vacation, Fringe Benefits and expense reimbursements described in Section 7(a) above, severance equal to six (6) months’ of Executive’s salary then in effect (less applicable tax withholdings). Any severance owed hereunder shall be payable in equal installments consistent with the Company’s normal payroll cycle.
(c) To be entitled to the severance benefits set forth in Section 7(b) above, Executive must continue to abide by the restrictive covenants described in Section 8 below and Exhibit A, and must execute a general release of any and all claims, charges, grievances, disputes, and complaints (known and unknown) that Executive has, had or may have against the Company, its parent, affiliates, successors or assigns and each of their respective owners, members, partners, officers, directors and employees (“Released Parties”), in a form to be provided to Executive by the Company. In the event of a breach or threatened breach of any of the covenants described in Section 8 and Exhibit A during the severance payment period, the Company shall immediately discontinue payment of Executive’s severance benefits and shall be entitled to recover all severance paid to Executive after the date of such breach or threatened breach. The cessation and recovery of these payments shall be in addition to, and not as an alternative to, any other remedies at law or in equity available to the Company, including without limitation the right to seek specific performance or an injunction.
(d) In furtherance and not in limitation...
Compensation in Event of Termination. Upon termination or resignation of Employee’s employment with the Company for any reason, the Company shall have no further obligation to Employee except to pay the amounts set forth in this Section 4.
Compensation in Event of Termination. Upon termination of the Term, this Agreement will terminate and the Company will have no further obligation to Executive except to pay the amounts set forth in this Section 9.
(a) In the event Executive’s employment is terminated pursuant to Sections 8(a)(i), (ii), (iii) or (iv) on or before the expiration of the Term, Executive or his estate, conservator or designated beneficiary, as the case may be, will be entitled to payment of any earned but unpaid Annual Salary for the year in which the Executive’s employment is terminated through the date of termination, as well as any accrued but unused vacation, reimbursement of expenses and vested benefits to which Executive is entitled in accordance with the terms of each applicable Employee Benefits plan.
(b) In the event Executive’s employment is terminated pursuant to Section 8(a)(v) or (vi) on or before the expiration of the Term, Executive will be entitled to receive on the date of termination, as his sole and exclusive remedy, a lump sum amount equal to 2 months of payments that Executive would receive under the Agreement if his employment with the Company had not been terminated, including, but not limited to, the Annual Salary in effect at the time of termination and bonuses (payable at time they would be otherwise be payable), vacation, benefits and reimbursement of expenses.
Compensation in Event of Termination. Upon termination of this Agreement and Executive’s employment, the Company will have no further obligation to Executive except to pay the amounts set forth in this Section 9.
(a) In the event Executive’s employment is terminated pursuant to Section 8(a)(i), (ii), (iii) or (iv) on or before the expiration of the Term, Executive will be entitled to payment of any earned but unpaid Salary through the date of termination. Any bonuses, fees or payments due to Executive under Section 4(b) above as of the date of termination shall be paid to Executive as set forth therein.
(b) In the event Executive’s employment is terminated pursuant to Section 8(a)(v) before the expiration of the Term, and provided that Executive executes a valid release of any and all claims that Executive may have relating to his employment against the Company and its agents, including, but not limited to, its officers, directors and employees, in a form provided by the Company and that contains a 12-month non-solicitation clause, Executive will be entitled to receive three months of Salary, all of which, at the sole discretion of the Company, shall be paid in a lump sum or in accordance with normal continuing payroll practices, and in all cases subject to all applicable withholdings and taxes. Any bonuses, fees or payments due to Executive under Section 4(b) above as of the date of termination shall be paid to Executive as set forth therein.
Compensation in Event of Termination. If the Agreement is terminated in accordance with Paragraph 3.1, Xxxxxx shall be compensated for all Services performed prior to the termination date in accordance with the rates established in this Agreement, together with Reimbursable Expenses then due or incurred.
Compensation in Event of Termination. Except as provided in this Section 8, Executive shall not be entitled to any severance or other compensation from the Company after his termination of employment.
8.1. If Executive's employment is terminated by the Company for Cause or by Executive for other than Good Reason, then the Company shall pay Executive any earned but unpaid salary and any accrued but unpaid vacation pay as of the Termination Date and Executive shall not be entitled to any other compensation from the Company.
8.2. If Executive's employment is terminated because of death or permanent disability, then the Company shall pay Executive any accrued but unpaid salary and any accrued but unpaid vacation pay as of the Termination Date and a pro rata amount of Executive's targeted bonus for the year in which Executive dies or becomes permanently disabled, and Executive shall not be entitled to any further compensation from the Company, except that in the case of a disability, Executive shall be entitled to such benefits, if any, payable by the Company to its employees under any disability benefit plan which the Company may have in effect as of the date of any such disability in which Executive is a participant.
8.3. If the Company terminates Executive's employment other than for Cause, death or permanent disability or Executive terminates his employment for Good Reason, at any time other than within two (2) years after a Change in Control, then the Company shall pay to Executive: (i) an amount equal to Executive's annual base salary in effect as of the Termination Date; plus (ii) the amount of any accrued but unpaid salary as of the Termination Date; plus (iii) a pro rata amount of Executive's targeted bonus for the year in which the Termination Date occurs; plus (iv) the amount of any accrued but unpaid vacation pay through the Termination Date.
8.4. If the Company terminates Executive's employment other than for Cause, death or permanent disability or Executive terminates his employment for Good Reason, at any time within 2 years after a Change in Control, then the Company shall pay to Executive: (i) an amount equal to two (2) times the greater of (a) Executive's annual base salary in effect as of the Termination Date or (b) Executive's annual base salary in effect immediately preceding the Change in Control; plus (ii) an amount equal to two (2) times the greater of (a) the amount of any cash bonus payable to Executive for the year in which the Termination Date occurs (provided that if Ex...
Compensation in Event of Termination. Upon termination of the Term for any reason, the Company shall have no further obligation to Executive except to pay the amounts set forth in this Section 9.
(a) In the event Executive’s employment is terminated pursuant to Sections 8(a)(i), (ii), (iii) (iv), or (vii) during or at the expiration of the Term, Executive or his estate, conservator or designated beneficiary, as the case may be, shall be entitled to payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits to which Executive is entitled. Following any such termination, neither Executive nor his estate, conservator or designated beneficiary shall be entitled to receive any other payment provided for hereunder with respect to any period after such termination, except as Executive may otherwise be entitled pursuant to any employee benefit plan.
(b) In the event Executive’s employment is terminated pursuant to Section 8(a)(v) or (vi) during the Employment Term, Executive shall be entitled to receive, as his sole and exclusive remedy, (x) payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued vested benefits to which Executive is entitled and (y) a lump sum payment equal to the Annual Salary that Executive would have been entitled to receive had he continued his employment hereunder for the balance of the Term.
Compensation in Event of Termination. In the event of termination not the fault of the Contractor, the Contractor shall be paid its compensation for services performed to the date of termination, including reimbursable expenses as set forth elsewhere in this Agreement.
Compensation in Event of Termination. Upon termination of the Term for any reason, this Agreement shall terminate and the Company shall have no further obligation to Executive except to pay the amounts set forth in this Section 9.
(a) In the event Executive's employment is terminated pursuant to Sections 8(a)(i), (ii), (iii) or (iv) during or at the expiration of the Term, Executive or [his/her] estate, conservator or designated beneficiary, as the case may be, shall be entitled to payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued but unused vacation and vested benefits to which Executive is entitled in accordance with the terms of each applicable Employee Benefit plan. Following any such termination, neither Executive nor [his/her] estate, conservator or designated beneficiary shall be entitled to receive any other payment provided for hereunder with respect to any period after such termination, except as Executive may otherwise be entitled pursuant to any applicable Employee Benefit plan.
(b) In the event Executive's employment is terminated pursuant to Section 8(a)(v) or (vi) during the Employment Term, Executive shall be entitled to receive, as [his/her] sole and exclusive remedy, (x) payment of any earned but unpaid Annual Salary through the date of termination, as well as any accrued but unused vacation and vested benefits to which Executive is entitled in accordance with the terms of each applicable Employee Benefit plan, and (y) a lump sum payment equal to months of Annual Salary provided that Executive executes a valid release of any and all claims that Executive may have relating to [his/her] employment against the Company and its agents, including but not limited to its officers, directors, and employees, in a form provided by the Company.
Compensation in Event of Termination. Upon termination of this Agreement and Executive’s employment, the Company will have no further obligation to Executive except to pay the amounts set forth in this Section 7.
(a) In the event Executive’s employment is terminated pursuant to Section 6(a)(i), (ii), (iii) or (iv), Executive will be entitled to payment of any earned but unpaid Salary through the date of termination. Any earned but unpaid bonuses, fees or payments due to Executive hereunder shall be paid to Executive as set forth herein.
(b) In the event Executive’s employment is terminated pursuant to Section 6(a)(v), and provided that Executive (i) if a member of the Board, formally resigns in writing from the Board and as an officer and director of any subsidiary of the Company, and (ii) executes a valid release of any and all claims that Executive may have relating to his employment against the Company and its agents, including, but not limited to, its officers, directors and employees, in a form provided by the Company and that contains a 12-month non-solicitation clause and a non-competition clause with a restrictive period equal to the Severance Period (as defined below), Executive will be entitled to a lump sum payment equal to Executive’s Salary for a period (“Severance Period”) of (i) three months if the termination occurs within the first 12 months of the Term and (ii) six months if the termination occurs after the first anniversary of the Effective Date but prior to the expiration of the Term, subject to all applicable withholdings and taxes. Any earned but unpaid bonuses, fees or payments due to Executive hereunder shall be paid to Executive as set forth herein.
