Common use of Consideration to Executive Clause in Contracts

Consideration to Executive. Except for any payments or benefits Executive has accrued or vested in pursuant to Executive’s participation in the Company’s 401(k) Plan or the Employee Stock Purchase Plan, which shall be subject to the terms and conditions set forth in such plans, Executive acknowledges and agrees that the payments described in this Section 2 fulfill any and all of the Company’s obligations due to Executive under any agreement or bonus, incentive compensation, severance or separation plan or allowance or any other compensation or benefit plan or arrangement maintained by the Company or any of its subsidiaries (including the Employment Agreement), and Executive specifically acknowledges and agrees that Executive is entitled to no other compensation or benefits from the Company or any of its subsidiaries of any kind or nature whatsoever, except to the extent expressly provided in this Agreement. In consideration of the covenants undertaken herein by Executive, and for other good and valuable consideration, receipt of which is hereby acknowledged, and in full and complete consideration for Executive’s promises, covenants and agreements set forth in this Agreement, the Company shall provide the following to Executive:

Appears in 2 contracts

Samples: Separation Agreement (Scientific Games Corp), Separation Agreement (Scientific Games Corp)

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Consideration to Executive. Except for any payments or benefits Executive has accrued or vested in pursuant to Executive’s participation in the Company’s 401(k) Plan or the Employee Stock Purchase Plan, which shall be subject to the terms and conditions set forth in such plansplans (it being understood and agreed that, as of the Separation Date, any “option” Executive may have with respect to the current “option period” under the Employee Stock Purchase Plan will be deemed cancelled and any of Executive’s accumulated payroll deductions for such “option period” will be paid to Executive in accordance with the terms of such plan), Executive acknowledges and agrees that the payments described in this Section 2 fulfill any and all of the Company’s obligations due to Executive under any agreement or bonus, incentive compensation, severance or separation plan or allowance or any other compensation or benefit plan or arrangement maintained by the Company or any of its subsidiaries (including the Employment Agreement)subsidiaries, and Executive specifically acknowledges and agrees that Executive is entitled to no other compensation or benefits from the Company or any of its subsidiaries of any kind or nature whatsoever, except to the extent expressly provided in this Agreement. In consideration of the covenants undertaken herein by Executive, and for other good and valuable consideration, receipt of which is hereby acknowledged, and in full and complete consideration for Executive’s promises, covenants and agreements set forth in this Agreement, the Company shall provide the following to Executive:

Appears in 1 contract

Samples: Non Competition and General Release Agreement (Scientific Games Corp)

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Consideration to Executive. Except for any payments or benefits Executive has accrued or vested in pursuant to Executive’s participation in the Company’s 401(k) Plan or the Employee Stock Purchase plan and Elective Deferred Compensation Plan, which shall be subject to the terms and conditions set forth in such plans, Executive acknowledges and agrees that the payments described and benefits set forth in this Section 2 fulfill any and all of the Company’s obligations due to Executive under any agreement or bonus, incentive compensation, severance or separation plan or allowance or any other compensation or benefit plan or arrangement maintained by the Company or any of its subsidiaries (including the Employment AgreementAgreement and the Program), and Executive specifically acknowledges and agrees that Executive is entitled to no other compensation or benefits (of any kind or nature whatsoever) from the Company or any of its subsidiaries subsidiaries. In full consideration of any kind or nature whatsoeverExecutive’s promises, except to the extent expressly provided covenants and agreements set forth in this Agreement. In consideration of the covenants undertaken herein by Executive, and for other good and valuable consideration, receipt of which is hereby acknowledged, and subject to this Agreement becoming irrevocable in full and complete consideration for Executive’s promises, covenants and agreements set forth in this Agreementaccordance with Section 15, the Company shall provide the following payments and benefits to Executive:Executive (subject to applicable withholdings):

Appears in 1 contract

Samples: Agreement and General Release (Scientific Games Corp)

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