Death or Termination by the Company for Disability. If the employment of the Executive should terminate during the Term due to her death or at the election of the Company due to Disability, then the Company will pay or provide to the Executive (or the person designated under Section 14(i), if applicable): (i) Any earned and accrued but unpaid installment of Base Salary through the Date of Termination payable in accordance with the Company’s normal payroll practices; (ii) reimbursement for any unreimbursed business expenses incurred through the Date of Termination in accordance with Sections 4(d) and 14(l)(ii); (iii) all other applicable payments or benefits to which the Executive shall be entitled under, and paid or provided in accordance with, the terms of any applicable arrangement, plan or program under Section 4(c) (collectively, Sections 6(a)(i) through 6(a)(iii), payable in accordance with this Section 6(a), shall be hereafter referred to as the “Accrued Benefits”); (iv) and any accrued but unpaid Annual Cash Bonus for the year prior to the year of termination, payable when the applicable Annual Cash Bonus for such year would have otherwise been paid. In addition, upon the date of any such termination (A) the Retention Grant and any previously granted Annual Stock Bonus shall become fully vested and all restrictions thereon shall lapse (B) the applicable performance measurement calculations shall be performed in accordance with the OPP Plan, resulting awards shall be granted to Executive and vest over the time period set forth in the OPP Plan.
Appears in 1 contract
Samples: Employment Agreement (American Realty Capital Properties, Inc.)
Death or Termination by the Company for Disability. If the employment of the Executive should terminate during the Term due to her his death or at the election of the Company due to Disability, then the Company will pay or provide to the Executive (or the person designated under Section 14(i), if applicable):
(i) Any earned and accrued but unpaid installment of Base Salary through the Date of Termination payable in accordance with the Company’s normal payroll practices;
(ii) reimbursement for any unreimbursed business expenses incurred through the Date of Termination in accordance with Sections 4(d) and 14(l)(ii);
(iii) all other applicable payments or benefits to which the Executive shall be entitled under, and paid or provided in accordance with, the terms of any applicable arrangement, plan or program under Section 4(c) (collectively, Sections 6(a)(i) through 6(a)(iii), payable in accordance with this Section 6(a), shall be hereafter referred to as the “Accrued Benefits”);
(iv) and any accrued but unpaid Annual Cash Bonus for the year prior to the year of termination, payable when the applicable Annual Cash Bonus for such year would have otherwise been paid. In addition, upon the date of any such termination (A) the Retention Grant and any previously granted Annual Stock Bonus shall become fully vested and all restrictions thereon shall lapse (B) the applicable performance measurement calculations shall be performed in accordance with the OPP Plan, resulting awards shall be granted to Executive and vest over the time period set forth in the OPP Planlapse.
Appears in 1 contract
Samples: Employment Agreement (American Realty Capital Properties, Inc.)
Death or Termination by the Company for Disability. If the employment of the Executive should terminate during the Term due to her his death or at the election of the Company due to Disability, then the Company will pay or provide to the Executive (or the person designated under Section 14(i)his estate, if applicable):
(i) Any earned and accrued but unpaid installment of Base Salary through the Date of Termination payable in accordance with the Company’s normal payroll practices;
(ii) reimbursement for any unreimbursed business expenses incurred through the Date of Termination in accordance with Sections 4(d) and 14(l)(ii13(l)(ii);
(iii) all other applicable payments or benefits to which the Executive shall be entitled under, and paid or provided in accordance with, the terms of any applicable arrangement, plan or program under Section 4(c) (collectively, Sections 6(a)(i) through 6(a)(iii), payable in accordance with this Section 6(a), shall be hereafter referred to as the “Accrued Benefits”);
(iv) and any accrued but unpaid Annual Cash Bonus for the year prior to the year of termination, payable when the applicable Annual Cash Bonus for such year would have otherwise been paid. In addition, upon the date of any such termination (A) the Retention Grant and any previously granted Annual Stock Bonus shall become fully vested and all restrictions thereon shall lapse lapse, and (B) the applicable performance measurement calculations shall be performed in accordance with the OPP Plan, resulting awards shall be granted to Executive and vest over the time period set forth in the OPP Plan.
Appears in 1 contract
Samples: Employment Agreement (American Realty Capital Properties, Inc.)
Death or Termination by the Company for Disability. If the employment of the Executive should terminate during the Term due to her death or at the election of the Company due to Disability, then the Company will pay or provide to the Executive (or the person designated under Section 14(i), if applicable):
(i) Any earned and accrued but unpaid installment of Base Salary through the Date of Termination payable in accordance with the Company’s normal payroll practices;
(ii) reimbursement for any unreimbursed business expenses incurred through the Date of Termination in accordance with Sections 4(d) and 14(l)(ii);
(iii) all other applicable payments or benefits to which the Executive shall be entitled under, and paid or provided in accordance with, the terms of any applicable arrangement, plan or program under Section 4(c) (collectively, Sections 6(a)(i) through 6(a)(iii), payable in accordance with this Section 6(a), shall be hereafter referred to as the “Accrued Benefits”);
(iv) and any accrued but unpaid Annual Cash Bonus for the year prior to the year of termination, payable when the applicable Annual Cash Bonus for such year would have otherwise been paid. In addition, upon the date of any such termination (A) the Retention Promotion Grant and any previously granted Annual Stock Bonus shall become fully vested and all restrictions thereon shall lapse (B) the applicable performance measurement calculations shall be performed in accordance with the OPP Plan, resulting awards shall be granted to Executive and vest over the time period set forth in the OPP Plan.
Appears in 1 contract
Samples: Employment Agreement (ARC Properties Operating Partnership, L.P.)
Death or Termination by the Company for Disability. If the employment of the Executive should terminate during the Term due to her his death or at the election of the Company due to Disability, then the Company will pay or provide to the Executive (or the person designated under Section 14(i)his estate, if applicable):
(i) Any any earned and accrued but unpaid installment of Base Salary and Allowance through the Date of Termination payable in accordance with the Company’s normal payroll practices;
(ii) reimbursement for any unreimbursed business expenses incurred through the Date of Termination in accordance with Sections 4(d) and 14(l)(ii);
(iii) all other applicable payments or benefits to which the Executive shall be entitled under, and paid or provided in accordance with, the terms of any applicable arrangement, plan or program under Section 4(c) through the Date of Termination (collectively, Sections 6(a)(i) through 6(a)(iii), payable in accordance with this Section 6(a), shall be hereafter referred to as the “Accrued Benefits”);
(iv) and any accrued but unpaid Annual Cash Bonus for the year prior to the year of termination;
(v) payment of Annual Base Salary through April 30, payable when 2025, or if later through the applicable Annual Cash Bonus for such year would have otherwise been paid. In addition, upon the date end of any such termination Renewal Term;
(A) accelerated vesting of all unvested shares of equity or equity based awards (collectively, the Retention Grant and any previously granted “Vesting Benefits”);
(vii) a pro-rated Annual Stock Bonus shall become fully vested and all restrictions thereon shall lapse (B) for the applicable performance measurement calculations shall be performed year in accordance with which the OPP PlanDate of Termination occurs, resulting awards shall be granted to Executive and vest over payable at the time period and in the manner set forth in Section 3 (the OPP Plan“Pro Rata Incentives”).
Appears in 1 contract