Conditions to Payment and Acceleration. All payments due to the Executive under this Section VII shall be made as soon as practicable, but in no event earlier than the date permitted under Section 409A of the Code, to the extent such payment is subject to Section 409A of the Code; provided, however, that such payments shall be subject to, and contingent upon, the execution by the Executive (or his beneficiary or estate) of a release of claims against the Company and its affiliates in such reasonable form determined by the Company in its sole discretion. The payments due to the Executive under this Section VII shall be in lieu of any other severance benefits otherwise payable to the Executive under any severance plan of the Company or its affiliates.
Appears in 8 contracts
Samples: Employment Agreement (Realogy Corp), Employment Agreement (Wyndham Worldwide Corp), Employment Agreement (Avis Budget Group, Inc.)
Conditions to Payment and Acceleration. All payments due to the Executive under this Section VII shall be made as soon as practicable, but in no event earlier (or later) than the date permitted under Section 409A of the Code, to the extent such payment is subject to Section 409A of the Code; provided, however, that such payments shall be subject to, and contingent upon, the execution by the Executive (or his beneficiary or estate) of a release of claims against the Company and its affiliates in such reasonable form determined by the Company in its sole discretion. The payments due to the Executive under this Section VII shall be in lieu of any other severance benefits otherwise payable to the Executive under any severance plan of the Company or its affiliates.
Appears in 3 contracts
Samples: Employment Agreement (Realogy Corp), Employment Agreement (Wyndham Worldwide Corp), Employment Agreement (Wyndham Worldwide Corp)
Conditions to Payment and Acceleration. All payments due to the Executive under this Section VII shall be made as soon as practicable, but in no event earlier than the date permitted under Section 409A of the Code, to the extent such payment is subject to Section 409A of the Code; provided, however, that such payments shall be subject to, and contingent upon, the execution by the Executive (or his beneficiary or estate) of a release of claims against the Company and its affiliates in such reasonable form determined by the Company in its sole discretion. The payments due to the Executive under this Section VII shall be in lieu of any other severance benefits otherwise payable to the Executive under any severance plan of the Company or its affiliates.. FORM OF EMPLOYMENT AGREEMENT
Appears in 2 contracts
Samples: Employment Agreement (Realogy Corp), Employment Agreement (Realogy Corp)
Conditions to Payment and Acceleration. All payments and benefits due to the Executive under this Section VII shall will be made as soon as practicablepracticable (or, but if applicable, in no event earlier than accordance with the date permitted under Section 409A terms of the Code, to the extent such payment is subject to Section 409A of the Codeapplicable benefit plan or incentive plan and award agreement); provided, however, that such payments shall and benefits provided under Section VII A. will be subject to, and contingent upon, the execution by the Executive (or his beneficiary or estate) of a release of claims against the Company and its affiliates in such reasonable form determined by the Company in its sole discretion. The payments due to the Executive under this Section VII shall will be in lieu of any other severance benefits otherwise payable to the Executive under any severance plan of the Company or its affiliates.
Appears in 1 contract
Samples: Employment Agreement (Cendant Corp)
Conditions to Payment and Acceleration. All payments due to the Executive under this Section VII shall be made as soon as practicable, but in no event earlier (or later) than the date permitted under Section 409A of the Code, to the extent such payment is subject to Section 409A of the Code; provided, however, that such payments shall be subject to, and contingent upon, the execution by the Executive (or his her beneficiary or estate) of a release of claims against the Company and its affiliates in such reasonable form determined by the Company in its sole discretion. The payments due to the Executive under this Section VII shall be in lieu of any other severance benefits otherwise payable to the Executive under any severance plan of the Company or its affiliates.
Appears in 1 contract
