Guaranteed Payments. Not later than sixty (60) days following the termination of Xx. Xxxxxxxxxx’x employment, regardless of the reason or timing of the termination, Immunomedics will make payment to Xx. Xxxxxxxxxx for all annual Base Salary, Bonus, Minimum Payments, and Additional Incentive Compensation earned through the date of termination, any benefits accrued in accordance with the terms of any applicable benefit plans and programs of the Company (including but not limited to earned but unused vacation), and will continue all payments pursuant to Section 4.2(a)(ii) and 4.2(b) for the time periods provided in those sections of this Agreement (collectively, “Guaranteed Payments”). There are no preconditions to Immunomedics’ obligation to pay, and to Xx. Xxxxxxxxxx’x right to receive, Guaranteed Payments under this Section 13(b) of this Agreement.
Appears in 4 contracts
Samples: Employment Agreement, Employment Agreement (Immunomedics Inc), Employment Agreement (Immunomedics Inc)
