Common use of Employee’s entitlement Clause in Contracts

Employee’s entitlement. Within five (5) days after the occurrence of a Covered Termination, the Company will: 2.1.1. pay Employee all of his or her accrued and unpaid Annual Salary, including payment for any accrued but unused vacation days, through the date of the Covered Termination; 2.1.2. pay Employee any annual bonus payable with respect to a fiscal year of the Company ending prior to the Covered Termination; and 2.1.3. pay Employee a lump sum payment of an amount equal to the Annual Salary of the Employee as of the date of the Covered Termination.