Effect of the Termination. If Employer Terminates Executive’s Employment (as defined below) without Cause, or Executive Terminates his Employment for Good Reason (as defined below), then: (i) Executive shall have no further obligations or liabilities hereunder, except Executive’s obligations under Sections 7 and 8, which shall survive the termination of this Agreement. (ii) Employer shall have no further obligations or liabilities hereunder, except that Employer shall: (a) Pay to Executive any Base Salary which has been earned on or prior to the termination date, but which remains unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date; (b) Pay to Executive any bonus amounts, if any, which Executive earned prior to the termination date pursuant to Section 4 but which are unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date; (c) Pay to Executive a lump-sum cash payment within two (2) weeks of the termination date equal to the total amount of Base Salary that would have been payable to Executive hereunder had the termination not occurred for a period that is the lesser of one (1) year from the termination date or the period between the termination date and February 29, 2012, subject to any applicable tax withholding and deductions as required by law; (d) Pay or reimburse, for the period applicable under Section 10.1(ii)(c) above, any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, these payments shall cease at that time; (e) Pay the full amount of Executive’s bonus opportunity pursuant to Section 4.2, as applicable, in a lump-sum cash payment within two (2) weeks after the termination date, for the Fiscal Year in which the termination occurs, subject to applicable tax withholding; (f) Pay the Prior Contract Completion Bonus described in Section 4.3 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; (g) Pay the Completion Bonus described in Section 4.4 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; and (h) Accelerate in full the vesting of any equity granted to Executive prior to the termination date within two (2) weeks after the termination date (subject to applicable tax withholding and deductions as required by law).
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Samples: Employment Agreement (Emmis Communications Corp), Employment Agreement (Emmis Communications Corp), Employment Agreement (Emmis Communications Corp)
Effect of the Termination. If Employer Terminates Executive’s Employment (as defined below) during the Term without CauseCause and not pursuant to Sections 11, 12 or 13, or Executive Terminates his Employment during the Term for Good Reason (as defined below), then:
(i) Executive shall have no further obligations or liabilities hereunder, except Executive’s obligations under Sections 7 and 8, which shall survive the termination of this Agreement.
(ii) Employer shall have no further obligations or liabilities hereunder, except that Employer shall:
(a) Pay to Executive any Base Salary which has been earned on or prior to the termination date, but which remains unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;, which amount will be paid whether or not Executive signs a Release (as defined below).
(b) Pay to Executive any bonus amounts, if any, which Executive earned prior to the termination date pursuant to Section 4 but which are unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;, which amount will be paid whether or not Executive signs a Release.
(c) Pay to Executive a lump-sum cash payment within two (2) weeks of the termination date Release Effective Date (as defined below) equal to One Million One Hundred Fifty Thousand Dollars ($1,150,000) less any Fiscal Year Bonus amounts (for the total amount of Base Salary that would have been payable to Executive hereunder had Fiscal Year in which the termination not occurred for a period that is the lesser of one (1occurs) year from the termination date either paid or the period between the termination date required to be paid pursuant to Sections 4.2 and February 29, 201210.1(ii)(b), subject to any applicable tax withholding and deductions as required by law;.
(d) If such termination occurs during the Second Contract Year, award to Executive a pro-rated portion of the PBCB, if any would have been earned at the end of the Second Contract Year, using the number of days Executive was employed during the Term divided by seven hundred thirty (730). Such award shall be made on the later of (i) the date that the PBCB grant would have been made had Executive been employed on a full-time, continuous basis through the Second Contract Year and (ii) the Release Effective Date.
(e) Pay or reimburse, for the period applicable under Section 10.1(ii)(cup to one (1) aboveyear from Executive’s date of termination of employment, any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, Executive shall promptly notify Employer upon such coverage and these payments shall cease at that time;
(e) Pay the full amount of Executive’s bonus opportunity pursuant to Section 4.2, as applicable, in a lump-sum cash payment within two (2) weeks after the termination date, for the Fiscal Year in which the termination occurs, subject to applicable tax withholding;.
(f) Pay the Prior Contract Completion Bonus described in Section 4.3 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding;
(g) Pay the Completion Bonus described in Section 4.4 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; and
(h) Accelerate in full the vesting of any equity Options and Restricted Shares granted to Executive prior to the termination date within two date.
(2iii) weeks Executive shall execute a general release and waiver of claims in favor of Employer and the Emmis Group in a customary form provided by Employer (a “Release”) no later than twenty-one (21) days after the termination receipt of the Release. The date the Release is effective and can no longer be revoked is the “Release Effective Date.” Each of the payments and grants set forth in Sections 10.1(ii)(c)-(f), if any, are entirely contingent upon Executive’s execution of the Release. To the extent any severance pay or benefits described above are considered to be “deferred compensation” under Section 409A of the Code, and the maximum period during which Executive may consider whether to sign and revoke the release spans two calendar years, then to the extent required by Section 409A, no payments or benefits will occur or be paid until the later calendar year.
(iv) Each of the payments set forth in this Section, if any, shall be subject to any applicable tax withholding taxes and deductions other withholdings as required by law).
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Effect of the Termination. If Employer Terminates Executive’s Employment (as defined below) without Cause, or Executive Terminates his Employment for Good Reason (as defined below), then:
(i) Executive shall have no further obligations or liabilities hereunder, except Executive’s obligations under Sections 7 and 8, which shall survive the termination of this Agreement.
(ii) Employer shall have no further obligations or liabilities hereunder, except that Employer shall:
(a) Pay pay to Executive any Base Salary which has been earned on or prior to the termination date, but which remains unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(b) Pay pay to Executive any bonus amounts, if any, which Executive earned prior to the termination date pursuant to Section 4 but which are unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(c) Pay pay to Executive a lump-sum cash payment within two (2) weeks of the termination date equal to the total amount of Base Salary that would have been payable to Executive hereunder had the termination not occurred for a period that is the lesser of one (1) year from the termination date or the period between the termination date and February 2928, 20122013, subject to any applicable tax withholding and deductions as required by law;
(d) Pay pay or reimburse, for the period applicable under Section 10.1(ii)(c) above, any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, these payments shall cease at that time;
(e) Pay pay the full amount of Executive’s bonus opportunity pursuant to Section 4.2, as applicable, in a lump-sum cash payment within two (2) weeks after the termination date, for the Fiscal Year in which the termination occurs, subject to applicable tax withholding;
(f) Pay pay the Prior Contract Completion Bonus described in Section 4.3 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding;; and
(g) Pay the Completion Bonus described in Section 4.4 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; and
(h) Accelerate accelerate in full the vesting of any equity granted to Executive prior to the termination date within two (2) weeks after the termination date (subject to applicable tax withholding and deductions as required by law).
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Effect of the Termination. If during the Term Employer Terminates Executive’s Employment (as defined below) without Cause, Cause or Executive Terminates his Employment for Good Reason (as defined below), then:
(i) Executive shall have no further obligations or liabilities hereunder, except Executive’s obligations under Sections 7 and 8, which shall survive the termination of this Agreement.
(ii) Employer shall have no further obligations or liabilities hereunderto Executive, except that Employer shall:
(a) Pay to Executive any Base Salary which has been earned on or prior to the termination date, but which remains unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;; and
(b) Pay to Executive any bonus amounts, if any, which Executive earned prior to the termination date pursuant to Section 4 but which are unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;; and
(c) Pay to Executive a lump-sum cash payment within two (2) weeks of the termination date an amount equal to the total amount of Base Salary that would have been payable to Executive hereunder had the termination not occurred for a period that is the lesser of one (1) year from the termination date or the period between the termination date and February 29, 2012then in effect, subject to any applicable tax withholding and deductions as required by law;, in a lump-sum cash payment within two (2) weeks after the effective date of the general release referenced at the end of this Section 10.1; and
(d) Pay or reimburse, to Executive an additional amount equal to the greater of (A) Executive’s Annual Bonus opportunity under Section 4.1(i) for the period applicable Contract Year in which the termination occurs, or (B) the amount Executive would have earned under Section 10.1(ii)(c4.1(ii) abovefor the Contract Year in which the termination occurs had such Contract Year ended on the termination date, in either case, payable in a lump-sum cash payment within two (2) weeks after the effective date of the general release referenced at the end of this Section 10.1; and (e) Pay to Executive an additional amount equal to the amount Executive would have earned under Section 4.2 for the Contract Year in which the termination occurs had such Contract Year ended on the termination date, in either case, payable in a lump-sum cash payment within two (2) weeks after the effective date of the general release referenced at the end of this Section 10.1; and
(f) Pay or reimburse Executive for a period of up to one (1) year any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, these payments shall cease at that time;
(e) Pay the full amount of Executive’s bonus opportunity pursuant to Section 4.2, as applicable, in a lump-sum cash payment within two (2) weeks after the termination date, for the Fiscal Year in which the termination occurs, subject to applicable tax withholding;
(f) Pay the Prior Contract Completion Bonus described in Section 4.3 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding;
(g) Pay the Completion Bonus described in Section 4.4 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; and
(hg) Accelerate in full the vesting of any equity granted to Executive prior to the termination date within two (2) weeks after the termination effective date (of the general release referenced at the end of this Section 10.1. Each of the payments set forth in this Section 10.1(ii) shall be subject to any applicable tax withholding and deductions as required by law. As a material condition upon which Executive shall be entitled to receive the payments outlined in this Section 10.1(ii) (other than subsections (a) and (b) to which Executive shall be entitled without executing a general release), and as an inducement to Employer’s agreement to make such payments, Executive agrees to execute a general release in a form reasonably acceptable to Employer upon the termination of Executive’s employment.
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Effect of the Termination. If Employer Terminates Executive’s Employment (as defined below) without Cause, or Executive Terminates his Employment for Good Reason (as defined below), then:
(i) Executive shall have no further obligations or liabilities hereunder, except Executive’s obligations under Sections 7 and 8, which shall survive the termination of this Agreement.
(ii) Employer shall have no further obligations or liabilities hereunder, except that Employer shall:
(a) Pay to Executive any Base Salary which has been earned on or prior to the termination date, but which remains unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(b) Pay to Executive any bonus amounts, if any, which Executive earned prior to the termination date pursuant to Section 4 but which are unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(c) Pay to Executive a lump-sum cash payment within two (2) weeks of the termination date equal to the total amount of Base Salary that would have been payable to Executive hereunder had the termination not occurred for a period that is the lesser of one (1) year from the termination date or the period between the termination date and February 29September 3, 20122013, subject to any applicable tax withholding and deductions as required by law;
(d) Pay or reimburse, for the period applicable under Section 10.1(ii)(c) above, any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive Employer becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, these payments shall cease at that time;
(e) Pay the full amount of Executive’s bonus opportunity pursuant to Section 4.2 (for purposes of clarity only, the Fiscal Year Bonus opportunity applicable with respect to Employer’s Fiscal Year ending February 28, 2014 shall be pro-rated as set forth in Section 4.2), as applicable, in a lump-sum cash payment within two (2) weeks after the termination date, for the Fiscal Year in which the termination occurs, subject to applicable tax withholding;
(f) Pay the Prior Contract Completion Bonus described in Section 4.3 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding;
(g) Pay the Completion Bonus described in Section 4.4 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; and
(hg) Accelerate in full the vesting of any equity granted to Executive prior to the termination date within two (2) weeks after the termination date (subject to applicable tax withholding and deductions as required by law).
Appears in 1 contract
Effect of the Termination. If during the Term Employer Terminates Executive’s Employment (as defined below) without Cause, Cause or Executive Terminates his Employment for Good Reason (as defined below), then:
(i) Executive shall have no further obligations or liabilities hereunder, except Executive’s obligations under Sections 7 and 8, which shall survive the termination of this Agreement.
(ii) Employer shall have no further obligations or liabilities hereunderto Executive, except that Employer shall:
(a) Pay to Executive any Base Salary which has been earned on or prior to the termination date, but which remains unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;; and
(b) Pay to Executive any bonus amounts, if any, which Executive earned prior to the termination date pursuant to Section 4 but which are unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;; and
(c) Pay to Executive a lump-sum cash payment within two (2) weeks of the termination date an amount equal to the total amount of Base Salary that would have been payable to Executive hereunder had the termination not occurred for a period that is the lesser of one (1) year from the termination date or the period between the termination date and February 29, 2012then in effect, subject to any applicable tax withholding and deductions as required by law;, in a lump-sum cash payment within two (2) weeks after the effective date of the general release referenced at the end of this Section 10.1; and
(d) Pay or reimburse, to Executive an additional amount equal to the greater of (A) Executive’s Annual Bonus opportunity under Section 4.1(i) for the period applicable Contract Year in which the termination occurs, or (B) the amount Executive would have earned under Section 10.1(ii)(c4.1(ii) abovefor the Contract Year in which the termination occurs had such Contract Year ended on the termination date, in either case, payable in a lump-sum cash payment within two (2) weeks after the effective date of the general release referenced at the end of this Section 10.1; and
(e) Pay to Executive an additional amount equal to the amount Executive would have earned under Section 4.2 for the Contract Year in which the termination occurs had such Contract Year ended on the termination date, in either case, payable in a lump-sum cash payment within two (2) weeks after the effective date of the general release referenced at the end of this Section 10.1; and
(f) Pay or reimburse Executive for a period of up to one (1) year any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, these payments shall cease at that time;
(e) Pay the full amount of Executive’s bonus opportunity pursuant to Section 4.2, as applicable, in a lump-sum cash payment within two (2) weeks after the termination date, for the Fiscal Year in which the termination occurs, subject to applicable tax withholding;
(f) Pay the Prior Contract Completion Bonus described in Section 4.3 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding;
(g) Pay the Completion Bonus described in Section 4.4 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; and
(hg) Accelerate in full the vesting of any equity granted to Executive prior to the termination date within two (2) weeks after the termination effective date (of the general release referenced at the end of this Section 10.1. Each of the payments set forth in this Section 10.1(ii) shall be subject to any applicable tax withholding and deductions as required by law. As a material condition upon which Executive shall be entitled to receive the payments outlined in this Section 10.1(ii) (other than subsections (a) and (b) to which Executive shall be entitled without executing a general release), and as an inducement to Employer’s agreement to make such payments, Executive agrees to execute a general release in a form reasonably acceptable to Employer upon the termination of Executive’s employment.
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Effect of the Termination. If Employer Terminates Executive’s Employment (as defined below) without Cause, Cause or Executive Terminates his Employment for Good Reason (as defined below), then:
(i) Executive shall have no further obligations or liabilities hereunder, except Executive’s obligations under Sections 7 and 8, which shall survive the termination of this Agreement.
(ii) Employer shall have no further obligations or liabilities hereunderto Executive, except that Employer shall:
(a) Pay to Executive any Base Salary which has been earned on or prior to the termination date, but which remains unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(b) Pay to Executive any bonus amounts, if any, which Executive earned prior to the termination date pursuant to Section 4 but which are unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(c) Pay to Executive a lump-sum cash payment within two (2) weeks of the termination date an amount equal to the total amount of Base Salary that would have been payable to Executive hereunder had the termination not occurred for a period that is the lesser of one (1) year from the termination date or the period between the termination date and February 29, 20122016, subject to any applicable tax withholding and deductions as required by law, in a lump-sum cash payment within two (2) weeks after the termination date;
(d) Pay an amount equal to Executive’s annual bonus opportunity pursuant to Section 4.2, for the Fiscal Year in which the termination occurs, in a lump-sum cash payment within two (2) weeks after the termination date;
(e) Pay or reimburse, for the period applicable under Section 10.1(ii)(c) above, any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, these payments shall cease at that time;
(e) Pay the full amount of Executive’s bonus opportunity pursuant to Section 4.2, as applicable, in a lump-sum cash payment within two (2) weeks after the termination date, for the Fiscal Year in which the termination occurs, subject to applicable tax withholding;
(f) Pay the Prior Contract Completion Bonus described in Section 4.3 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding;
(g) Pay the Completion Bonus described in Section 4.4 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; and
(hf) Accelerate in full the vesting of any equity granted to Executive prior to the termination date within two (2) weeks after the termination date (date. Each of the payments set forth in this Section 10.1(ii) shall be subject to any applicable tax withholding and deductions as required by law).
Appears in 1 contract
Effect of the Termination. If during the Term Employer Terminates terminates Executive’s Employment (as defined below) without Cause, Cause or Executive Terminates terminates his Employment for Good Reason (as defined below), then:
(i) Executive shall have no further obligations or liabilities hereunder, except Executive’s obligations under Sections 7 and 8, which shall survive the termination of this Agreement.
(ii) Employer shall have no further obligations or liabilities hereunderto Executive, except that Employer shall:
(a) Pay to Executive any Base Salary which has been earned on or prior to the termination date, but which remains unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(b) Pay to Executive any bonus Annual Bonus amounts, if any, which Executive earned prior to the termination date pursuant to Section 4 but which are unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(c) Pay to Executive a lump-sum cash payment within two (2) weeks of the termination date an amount equal to the total amount of Base Salary that would have been payable to Executive hereunder had the termination not occurred for a period that is the lesser greater of one (1) year from the termination date or the period between the termination date and February 29, 20122020, subject to any applicable tax withholding and deductions as required by law, in a lump-sum cash payment within two (2) weeks after the effective date of the general release referenced at the end of this Section 10.1;
(d) Pay an amount equal to Executive’s Annual Bonus opportunity, for the Contract Year in which the termination occurs, in a lump-sum cash payment within two (2) weeks after the effective date of the general release referenced at the end of this Section 10.1;
(e) Pay or reimburse, for the period applicable under Section 10.1(ii)(c) above, any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, these payments shall cease at that time;
(e) Pay the full amount of Executive’s bonus opportunity pursuant to Section 4.2, as applicable, in a lump-sum cash payment within two (2) weeks after the termination date, for the Fiscal Year in which the termination occurs, subject to applicable tax withholding;
(f) Pay the Prior Contract Completion Bonus described in Section 4.3 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding;
(g) Pay the Completion Bonus described in Section 4.4 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; and
(hf) Accelerate in full the vesting of any equity granted to Executive prior to the termination date within two (2) weeks after the termination effective date (of the general release referenced at the end of this Section 10.1. Each of the payments set forth in this Section 10.1(ii) shall be subject to any applicable tax withholding and deductions as required by law. As a material condition upon which Executive shall be entitled to receive the payments outlined in this Section 10.1(ii) (other than subsections (a) and (b) to which Executive shall be entitled without executing a general release), and as an inducement to Employer’s agreement to make such payments, Executive agrees to execute a general release in a form reasonably acceptable to Employer upon the termination of Executive’s employment.
Appears in 1 contract
Effect of the Termination. If Employer Terminates Executive’s Employment (as defined below) without Cause, Cause or Executive Terminates his Employment for Good Reason (as defined below), then:
(i) Executive shall have no further obligations or liabilities hereunder, except Executive’s obligations under Sections 7 and 8, which shall survive the termination of this Agreement.
(ii) Employer shall have no further obligations or liabilities hereunderto Executive, except that Employer shall:
(a) Pay to Executive any Base Salary which has been earned on or prior to the termination date, but which remains unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(b) Pay to Executive any bonus amounts, if any, which Executive earned prior to the termination date pursuant to Section 4 but which are unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(c) Pay If the Termination of Employment occurs on or before August 31, 2014, pay to Executive a lump-sum cash payment within two (2) weeks of the termination date equal to the total amount of annual Base Salary that would have been payable to Executive hereunder had the termination not occurred for a period that is the lesser of one then in effect multiplied by two (1) year from the termination date or the period between the termination date and February 29, 2012, subject to any applicable tax withholding and deductions as required by law2);
(d) Pay If the Termination of Employment occurs on or after September 1, 2014 but prior to March 1, 2016, pay to Executive a lump-sum cash payment within two (2) weeks of the termination date equal to the annual Base Salary then in effect multiplied by one and one-half (1.5);
(e) If the Termination of Employment occurs on or after March 1, 2016, pay to Executive a lump-sum cash payment within two (2) weeks of the termination date equal to the annual Base Salary then in effect;
(f) If the Termination of Employment occurs on or before August 31, 2014, pay an amount equal to Executive’s annual bonus opportunity pursuant to Section 4.2, for the Fiscal Year in which the termination occurs, multiplied by two (2), in a lump-sum cash payment within two (2) weeks after the termination date;
(g) If the Termination of Employment occurs on or after September 1, 2014, pay an amount equal to Executive’s annual bonus opportunity pursuant to Section 4.2, for the Fiscal Year in which the termination occurs, in a lump-sum cash payment within two (2) weeks after the termination date;
(h) If the Termination of Employment occurs on or before August 31, 2014, pay or reimburse, for the a period applicable under Section 10.1(ii)(cof two (2) aboveyears, any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, these payments shall cease at that time;
(ei) If the Termination of Employment occurs on or after September 1, 2014, pay or reimburse, for a period of one (1) year, any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, these payments shall cease at that time;
(j) Pay the full amount of Executive’s bonus opportunity pursuant to the Completion Bonus described in Section 4.2, as applicable, 4.3 in a lump-sum cash payment within two (2) weeks after the termination date, for the Fiscal Year in which the termination occurs, subject to applicable tax withholding;
(f) Pay the Prior Contract Completion Bonus described in Section 4.3 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding;
(g) Pay the Completion Bonus described in Section 4.4 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; and
(hk) Accelerate in full the vesting of any equity granted to Executive prior to the termination date within two (2) weeks after the termination date (date. Each of the payments set forth in this Section 10.1(ii) shall be subject to any applicable tax withholding and deductions as required by law).
Appears in 1 contract
Effect of the Termination. If Employer Terminates Executive’s Employment (as defined below) without Cause, or Executive Terminates his Employment for Good Reason (as defined below), then:
(i) Executive shall have no further obligations or liabilities hereunder, except Executive’s obligations under Sections 7 and 8, which shall survive the termination of this Agreement.
(ii) Employer shall have no further obligations or liabilities hereunder, except that Employer shall:
(a) Pay to Executive any Base Salary which has been earned on or prior to the termination date, but which remains unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(b) Pay to Executive any bonus amounts, if any, which Executive earned prior to the termination date pursuant to Section 4 but which are unpaid as of the termination date, in a lump-sum cash payment within two (2) weeks of the termination date;
(c) Pay to Executive a lump-sum cash payment within two (2) weeks of the termination date equal to the total amount of Base Salary that would have been payable to Executive hereunder had the termination not occurred for a period that is the lesser of one (1) year from the termination date or the period between the termination date and February 29September 3, 20122011, subject to any applicable tax withholding and deductions as required by law;
(d) Pay or reimburse, for the period applicable under under
Section 10.1(ii)(c10.1 (ii)(c) above, any medical, dental or vision insurance premiums (up to the amount that Employer is paying on behalf of Executive and his eligible dependents immediately prior to the date of termination, e.g., the employer-paid premium) for the continuation of such health coverage for Executive and Executive’s dependents pursuant to the provisions of COBRA or applicable state law. If Executive Employer becomes eligible to participate in any other group insurance program of another employer and elects coverage thereunder, these payments shall cease at that time;
(e) Pay the full amount of Executive’s bonus opportunity pursuant to Section 4.24.2 or 4.3 (for purposes of clarity only, the Fiscal Year Bonus opportunity applicable during the Third Contract Year shall be pro-rated as set forth in Section 4.3), as applicable, in a lump-sum cash payment within two (2) weeks after the termination date, for the Fiscal Year in which the termination occurs, subject to applicable tax withholding;
(f) Pay the Prior Contract Completion 9/3/09 Bonus described in Section 4.3 4.4 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding;
(g) Pay the Completion Bonus described in Section 4.4 4.5 in the amounts set forth therein, in a lump-sum cash payment within two (2) weeks after the termination date, subject to applicable taxes and withholding; and
(h) Accelerate in full the vesting of any equity granted to Executive prior to the termination date within two (2) weeks after the termination date (subject to applicable tax withholding and deductions as required by law).
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