Common use of FOR REASON OF EXPIRATION OF THE TERM OF THIS AGREEMENT Clause in Contracts

FOR REASON OF EXPIRATION OF THE TERM OF THIS AGREEMENT. In the event of Executive's Termination of Service for reason of expiration of the Term of this Agreement pursuant to Paragraph 2 thereof, Executive (or if Executive dies while benefits remain due under this Agreement, Executive's beneficiaries as designated in accordance with the provisions of Paragraph 9 thereof) shall be entitled to receive the following upon such Termination of Service: (i) Payment immediately upon Executive's Termination of Service of any previously unpaid Base Salary and any Bonus granted and previously unpaid or the pro-rata portion of any Bonus earned by Executive pursuant to any plan (if necessary, the Company may pay such Bonus when all bonuses for that Fiscal Year are calculated and paid) through the date of Executive's Termination of Service; (ii) Immediate vesting of any stock options or other rights previously provided to Executive under any Company Long-Term Incentive Plan; (iii) Payment of any Disability or other benefits provided to Executive by the Company in accordance with the terms and conditions of such benefits and this Agreement. (iv) Payment of a lump sum amount equal to one (1) year of Executive's Annual Base Salary.

Appears in 2 contracts

Samples: Employment Agreement (Gametech International Inc), Employment Agreement (Gametech International Inc)

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FOR REASON OF EXPIRATION OF THE TERM OF THIS AGREEMENT. In the event of Executive's Termination of Service for reason of expiration of the Term of this Agreement pursuant to Paragraph 2 thereof, Executive (or if Executive dies while benefits remain due under this Agreement, Executive's beneficiaries as designated in accordance with the provisions of Paragraph 9 thereof) shall be entitled to receive the following upon such Termination of Service: (i) Payment immediately upon Executive's Termination of Service of any previously unpaid Base Salary and any Bonus granted and previously unpaid or the pro-rata portion of any Bonus earned by Executive pursuant to any plan (if necessary, the Company may pay such Bonus when all bonuses for that Fiscal Year are calculated and paid) through the date of Executive's Termination of Service; (ii) Immediate vesting of any stock options or other rights previously provided to Executive under any Company Long-Term Incentive Plan; (iii) Payment of any Disability or other benefits provided to Executive by the Company in accordance with the terms and conditions of such benefits and this Agreement. (iv) Payment of a lump sum amount equal to one (1ONE(1) year of Executive's Annual Base Salary.

Appears in 2 contracts

Samples: Employment Agreement (Gametech International Inc), Employment Agreement (Gametech International Inc)

FOR REASON OF EXPIRATION OF THE TERM OF THIS AGREEMENT. In the event of Executive's Termination of Service for reason of expiration of the Term of this Agreement pursuant to Paragraph 2 thereof, Executive (or if Executive dies while benefits remain due under this Agreement, Executive's beneficiaries as designated in accordance with the provisions of Paragraph 9 thereof) shall be entitled to receive the following upon such Termination of Service: (i) Payment immediately upon Executive's Termination of Service of any previously unpaid Base Salary and any Bonus granted and previously unpaid or the pro-rata portion of any Bonus earned by Executive pursuant to any plan (if necessary, the Company may pay such Bonus when all bonuses for that Fiscal Year are calculated and paid) through the date of Executive's Termination of Service; (ii) Immediate vesting of any stock options or other rights previously provided to Executive under any Company Long-Term Incentive Plan; (iii) Payment of any Disability or other benefits provided to Executive by the Company in accordance with the terms and conditions of such benefits and this Agreement.; (iv) Payment of a lump sum amount equal to one (1) year of Executive's Annual Base Salary.

Appears in 1 contract

Samples: Employment Agreement (Gametech International Inc)

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FOR REASON OF EXPIRATION OF THE TERM OF THIS AGREEMENT. In the event of Executive's Termination of Service for reason of expiration of the Term of this Agreement pursuant to Paragraph 2 thereof, Executive (or if Executive dies while benefits remain due under this Agreement, Executive's beneficiaries as designated in accordance with the provisions of Paragraph 9 thereof) shall be entitled to receive the following upon such Termination of Service: (i) Payment immediately upon Executive's Termination of Service of any previously unpaid Base Salary and any Bonus granted and previously unpaid or the pro-rata portion of any Bonus earned by Executive pursuant to any plan (if necessary, the Company may pay such Bonus when all bonuses for that Fiscal Year are calculated and paid) paid through the date of Executive's Termination of Service; (ii) Immediate vesting of any stock options or other rights previously provided to Executive under any Company Long-Term Incentive Plan; (iii) Payment of any Disability or other benefits provided to Executive by the Company in accordance with the terms and conditions of such benefits and this Agreement. ; (iv) Payment of a lump sum amount equal to one (1ONE(1) year of Executive's Annual Base Salary.;

Appears in 1 contract

Samples: Employment Agreement (Gametech International Inc)

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