Impact of Termination of Employment. Notwithstanding the foregoing, any provision in the resolutions of the board of directors of the Company dated October 21, 2016, the Company annual incentive plan under which the 2016 Annual Bonus was granted, the grant documentation governing the 2016 Equity Awards, or otherwise (i) in the event that the Executive’s employment is terminated prior to the consummation of the Transaction by the Company for any reason, by the Executive for “Good Reason”, or due to the Executive’s death or “Incapacity” (in each case, as such term is defined in the Executive’s employment agreement with the Company as in effect on the date hereof), the Executive shall be entitled to receive all of the benefits under the 2016 Equity Awards (based on full vesting and assuming maximum performance was achieved in the case of performance-vesting restricted stock units, with payment to be made upon the consummation of the Transaction) and the 2016 Annual Bonus (to the extent not already vested and paid) in accordance with the terms and conditions thereof as if the Executive’s employment had not been so terminated, and (ii) the 2016 Annual Bonus shall in all events be paid to the Executive on or before December 31, 2016.
Appears in 4 contracts
Samples: Transaction Bonus and Noncompetition Agreement (B/E Aerospace Inc), Transaction Bonus Agreement (B/E Aerospace Inc), Transaction Bonus and Noncompetition Agreement (B/E Aerospace Inc)
