Common use of Entitlements on Termination Clause in Contracts

Entitlements on Termination. (a) On termination of this agreement in accordance with clause 26.2 or 26.3, the Executive shall be entitled to receive from the Company: (i) Pay in lieu of any accrued annual leave and/or long service leave to which the Executive is entitled up to and including date of termination; (ii) Any payment in lieu of notice under clause 26.2; (iii) Any applicable benefits due to the Executive pursuant to the provisions of any incentive plan if the Company determines the Executive is so entitled; and (iv) Any outstanding Salary payments. (b) Any entitlement to redundancy pay will be in accordance with the Company’s minimum obligations under the Fair Work Act 2009 (Cth). (c) If the amount payable to the Executive in connection with termination of their employment would result in the Company breaching section 200B of the Corporations Act, then despite any other provision in this agreement, the amount payable to the Executive will be the maximum amount which may lawfully be paid without obtaining shareholder approval in accordance with the Corporations Act.

Entitlements on Termination. (a) On termination of this agreement in accordance with clause 26.2 or 26.3, the Executive shall be entitled to receive from the Company: (i) Pay in lieu of any accrued annual leave and/or long service leave to which the Executive is entitled up to and including date of termination; (ii) Any payment in lieu of notice under clause 26.2; (iii) Any applicable benefits due to the Executive pursuant to the provisions of any incentive plan if the Company determines the Executive is so entitled; and (iv) Any outstanding Salary payments. (b) Any entitlement to redundancy pay will be in accordance with the Company’s minimum obligations under the Fair Work Act 2009 Xxx 0000 (Cth). (c) If the amount payable to the Executive in connection with termination of their employment would result in the Company breaching section 200B of the Corporations Act, then despite any other provision in this agreement, the amount payable to the Executive will be the maximum amount which may lawfully be paid without obtaining shareholder approval in accordance with the Corporations Act.