Common use of Minimum Payments Clause in Contracts

Minimum Payments. Executive shall be entitled to the following minimum payments under this Section 6(a), in addition to any other payments or benefits to which he is entitled to receive under the terms of any employee benefit plan or program or Section 6(b) or Section 8. (1) his accrued but unpaid salary through his Termination Date; (2) his unused PTO days which have accrued through his Termination Date; and (3) reimbursement of his reasonable business expenses that were incurred but unpaid as of his Termination Date. Such salary and accrued PTO days shall be paid to Executive within 15 days following the Termination Date in a cash lump sum less applicable withholdings. Business expenses shall be reimbursed in accordance with the Company’s normal procedures.

Appears in 9 contracts

Samples: Employment Agreement (Basic Energy Services Inc), Employment Agreement (Basic Energy Services Inc), Employment Agreement (Basic Energy Services Inc)

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Minimum Payments. Executive shall be entitled to the following minimum payments under this Section 6(a4.1(a), in addition to any other payments or benefits to which he is entitled to receive under the terms of this Agreement or any employee benefit plan or program or Section 6(b) or Section 8.program: (1i) his accrued but and unpaid salary Base Salary through his the Termination Date; (2ii) his accrued and unused PTO vacation days which have accrued through his the Termination Date; and (3iii) reimbursement of his reasonable business expenses that were incurred but unpaid as of his the Termination Date. Such salary and accrued PTO vacation days shall be paid to Executive within 15 days five (5) Business Days following the Termination Date in a cash lump sum less applicable withholdings. Business expenses shall be reimbursed in accordance with the Company’s normal policy and procedures.

Appears in 6 contracts

Samples: Executive Employment Agreement (Vaalco Energy Inc /De/), Executive Employment Agreement (Vaalco Energy Inc /De/), Executive Employment Agreement (Vaalco Energy Inc /De/)

Minimum Payments. Executive shall be entitled to the following minimum payments under this Section 6(a), in addition to any other payments or benefits to which he is entitled to receive under the terms of any employee benefit plan or program or Section 6(b) or Section 8. (1) his accrued but unpaid salary through his Termination Date; (2) his unused PTO days which have accrued through his Termination Date; and (3) reimbursement of his reasonable business expenses that were incurred but unpaid as of his Termination Date. Such salary and accrued PTO days shall be paid to Executive within 15 days following the Termination Date in a cash lump sum less applicable withholdings. Business expenses shall be reimbursed in accordance with the Company’s normal procedures.

Appears in 4 contracts

Samples: Employment Agreement (Basic Energy Services Inc), Employment Agreement (Basic Energy Services Inc), Employment Agreement (Basic Energy Services Inc)

Minimum Payments. Executive shall be entitled to the following minimum payments under this Section 6(a), in addition to any other payments or benefits to which he is entitled to receive under the terms of any employee benefit plan or program or Section 6(b) or Section 8. (1) his accrued but unpaid salary through his Termination Date; (2) his unused PTO days which have accrued through his Termination Date; and (3) reimbursement of his reasonable business expenses that were incurred but unpaid as of his Termination Date. Such salary and accrued PTO days shall be paid to Executive within 15 days following the Termination Date in a cash lump sum less applicable withholdings. Business expenses shall be reimbursed in accordance with the Company’s 's normal procedures.

Appears in 2 contracts

Samples: Employment Agreement (Basic Energy Services Inc), Employment Agreement (Basic Energy Services Inc)

Minimum Payments. Executive shall be entitled to the following minimum payments under this Section 6(a4.1(a), in addition to any other payments or benefits to which he is entitled to receive under the terms of this Agreement or any employee benefit plan or program or Section 6(b) or Section 8.program: (1i) his accrued but and unpaid salary Base Salary through his the Termination Date; (2ii) his accrued and unused PTO vacation days which have accrued through his the Termination Date; and (3iii) reimbursement of his reasonable business expenses that were incurred but unpaid as of his the Termination Date. Such salary and accrued PTO vacation days shall be paid to Executive within 15 days five (5) Business Days following the Termination Date in a cash lump sum less applicable withholdings. Business expenses shall be reimbursed in accordance with the Company’s normal policy and procedures.. Initials Initials

Appears in 1 contract

Samples: Executive Employment Agreement (Vaalco Energy Inc /De/)

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Minimum Payments. Executive shall be entitled to the following minimum payments under this Section 6(a)0, in addition to any other payments or benefits to which he is entitled to receive under the terms of this Agreement or any employee benefit plan or program or Section 6(b) or Section 8.program: (1i) his accrued but and unpaid salary Base Salary through his the Termination Date; (2ii) his accrued and unused PTO vacation days which have accrued through his the Termination Date; and (3iii) reimbursement of his reasonable business expenses that were incurred but unpaid as of his the Termination Date. Such salary and accrued PTO vacation days shall be paid to Executive within 15 days five (5) Business Days following the Termination Date in a cash lump sum less applicable withholdings. Business expenses shall be reimbursed in accordance with the Company’s normal procedures.applicable

Appears in 1 contract

Samples: Executive Employment Agreement (Vaalco Energy Inc /De/)

Minimum Payments. Executive shall be entitled to the following minimum payments under this Section 6(a4.1(a), in addition to any other payments or benefits to which he is entitled to receive under the terms of this Agreement or any employee benefit plan or program or Section 6(b) or Section 8.program: (1i) his accrued but and unpaid salary Base Salary through his the Termination Date; (2ii) his accrued and unused PTO vacation days which have accrued through his the Termination Date; and (3iii) reimbursement of his reasonable business expenses that were incurred but unpaid as of his the Termination Date. Such salary and accrued PTO vacation days shall be paid to Executive within 15 days five (5) Business Days following the Termination Date in a cash lump sum less applicable withholdings. Business expenses shall be reimbursed in accordance with the Company’s normal procedures.applicable

Appears in 1 contract

Samples: Executive Employment Agreement (Vaalco Energy Inc /De/)

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