Good Cause Resignation. If Employee resigns for Good Cause, as defined below, and contingent upon Employee’s execution of the Employer’s standard Severance and General Release Agreement within twenty-eight days of the termination of Employee’s employment, Employee shall (i) be entitled to receive the base salary and benefits as set forth in Section 2.1 and Section 2.2, respectively, through the effective date of such resignation, (ii) shall continue to receive his salary for the eighteen-month period following the termination of his employment (the “Resignation Severance Period”), subject to Employer’s payroll practices and procedures, (iii) if Employee’s employment is terminated after April in a given year, receive a lump-sum payment equal to the Bonus paid in the year prior to the termination of Employee’s employment, pro-rated for the number of months served in the year Employee’s employment is terminated, to be paid on or around the time Employer normally pays performance bonuses to other senior executives so long as he has complied with the terms of the Noncompetition, Nonsolicitation, and Confidentiality Agreement, which Employee is executing at the same time as this Agreement, and (iv) not be entitled to receive any other compensation, benefits, or payments of any kind, except as otherwise required by law or by the terms of any benefit or retirement plan or other arrangement that would, by its terms, apply. If Employee resigns within sixty (60) days following a Good Cause Event after a Change of Control (as those terms are defined below), Employee shall receive the severance benefits set forth above except that the Resignation Severance Period shall increase from eighteen months to two years. Any severance shall be subject to the terms and conditions of the DaVita Inc. Severance Plan. Any severance shall also be subject to the cooperation and compliance with other agreement provisions set forth in Sections 3.3(b), (c), and (d), set forth above, and which are fully incorporated herein by reference.
Appears in 2 contracts
Samples: Employment Agreement, Employment Agreement (Davita Inc)
Good Cause Resignation. If Employee resigns for Good Cause, as defined below, and contingent upon Employee’s execution of the Employer’s standard Severance and General Release Agreement within twenty-eight days of the termination of Employee’s employment, Employee shall (i) be entitled to receive the base salary and benefits as set forth in Section 2.1 and Section 2.2, 2.2 respectively, through the effective date of such resignation, (ii) be entitled to the benefits set forth in the DaVita HealthCare Partners Inc. Severance Plan, pursuant to the terms and conditions of that plan as they exist at the time of the termination of Employee’s employment except for the requirement that a teammate is only eligible for severance if the teammate’s employment is terminated involuntarily, but in no event shall continue such benefits include less than a right to receive his continuation of her base salary for the eighteentwelve-month period following the termination of his employment (the “Resignation Severance Period”)her employment, subject to Employer’s payroll practices and procedures, (iii) if Employee’s employment is terminated after April in a given year, receive a lump-sum payment equal to the Bonus paid in the year prior to the termination of Employee’s employment, pro-rated for the number of months served in the year Employee’s employment is terminated, to be paid on or around the time Employer normally pays performance bonuses to other senior executives so long as he she has complied with the terms of the Noncompetitionall agreements relating to nonsolicitation, Nonsolicitationnoncompetition, and Confidentiality Agreement, which Employee is executing at the same time as this Agreementconfidentiality, and (iv) not be entitled to receive any other compensation, benefits, or payments of any kind, except as otherwise required by law or by the terms of any benefit or retirement plan or other arrangement that would, would by its terms, apply. If Employee resigns within sixty (60) days following a Good Cause Event after a Change of Control (as those terms are defined below), Employee shall receive the severance benefits set forth above except that the Resignation Severance Period shall increase from eighteen months to two years. Any severance shall be subject to the terms and conditions of the DaVita Inc. Severance Plan. Any severance shall also be subject to the cooperation and compliance with other agreement provisions set forth in Sections 3.3(b), (c), and (d), set forth above, and which are fully incorporated herein by reference.
Appears in 1 contract
Samples: Employment Agreement (Davita Inc.)
Good Cause Resignation. If Employee Teammate resigns for Good Cause, as defined below, and contingent upon Employee’s 's execution of the Employer’s 's standard Severance and General Release Agreement within twenty-eight days of the termination of Employee’s Teammate's employment, Employee Teammate shall (i) be entitled to receive the base salary and benefits as set forth in Section 2.1 and Section 2.2, respectively, through the effective date of such resignation, (ii) shall continue to receive his salary for the eighteentwelve-month period following the termination of his employment (the “Resignation Severance Period”), subject to Employer’s 's payroll practices and procedures, (iii) if Employee’s Teammate's employment is terminated after April in a given year, receive a lump-sum payment equal to the Bonus paid in the year prior to the termination of Employee’s Teammate's employment, pro-rated for the number of months served in the year Employee’s Teammate's employment is terminated, to be paid on or around the time Employer normally pays performance bonuses to other senior executives so long as he has complied with the terms of the Noncompetition, Nonsolicitation, and Confidentiality Agreement, which Employee Teammate is executing at the same time as this Agreement, and (iv) not be entitled to receive any other compensation, benefits, or payments of any kind, except as otherwise required by law or by the terms of any benefit or retirement plan or other arrangement that would, by its terms, apply. If Employee Teammate resigns within sixty (60) days following a Good Cause Event after a Change of Control (as those terms are defined below), Employee Teammate shall receive the severance benefits set forth above except that the Resignation Severance Period shall increase from eighteen twelve months to two years. Any severance shall be subject to the terms and conditions of the DaVita HealthCare Partners Inc. Severance Plan. Any severance shall also be subject to the cooperation and compliance with other agreement provisions set forth in Sections 3.3(b), (c), and (d)3.3, set forth above, and which are fully incorporated herein by reference.
Appears in 1 contract
Samples: Employment Agreement (Davita Inc.)