Failure to Renew. If either the Executive or the Company gives notice to terminate this Agreement at the end of the stated Term, the Company shall make a payment to the Executive equal to one times the Executive’s Base Salary as in effect at the end of the Term plus one times the Executive’s target bonus as in effect at the end of the Term. Such payment shall be made in a lump sum within ten (10) days following the end of the stated Term of this Agreement, provided that the Company receives a release within 30 days following termination of this Agreement signed by the Executive, substantially in the form attached hereto as Exhibit A. In addition, upon delivery of such release, all remaining unvested shares of restricted stock granted to the Executive shall immediately vest.
Appears in 4 contracts
Samples: Employment Agreement (Republic Airways Holdings Inc), Employment Agreement (Republic Airways Holdings Inc), Employment Agreement (Republic Airways Holdings Inc)
