Common use of Minimum Payments Clause in Contracts

Minimum Payments. If the Executive’s Termination Date occurs during the Agreement Term for any reason, the Executive shall be entitled to the following payments, in addition to any payments or benefits to which the Executive may be entitled under the following provisions of this Section 5 (other than this paragraph 5(a)) or the express terms of any employee benefit plan or as required by law: (i) the Executive’s earned but unpaid Salary for the period ending on the Executive’s Termination Date; (ii) the Executive’s accrued but unpaid vacation pay for the period ending with the Executive’s Termination Date, as determined in accordance with the Company’s policy as in effect from time to time, and all other amounts earned and owed to the Executive through and including the Termination Date; (iii) the Executive’s unreimbursed business expenses; and (iv) any amounts payable to the Executive under the terms of any employee benefit plan. Payments to be made to the Executive pursuant to subparagraphs 5(a)(i) and (ii) shall be made within 30 days after the Executive’s Termination Date in a lump sum, payments to be made pursuant to subparagraph 5(a)(iii) shall be paid in accordance with paragraph 4(d) and amounts payable pursuant to subparagraph 5(a)(iv) shall be paid in accordance with the terms of the applicable employee benefit plan. Except as may be otherwise expressly provided to the contrary in this Agreement or as otherwise provided by law, nothing in this Agreement shall be construed as requiring the Executive to be treated as employed by the Company following the Executive’s Termination Date for purposes of any employee benefit plan or arrangement in which the Executive may participate at such time.

Minimum Payments. If the Executive’s Termination Date occurs during the Agreement Term for any reason, the Executive shall be entitled to the following payments, in addition to any payments or benefits to which the Executive may be entitled under the following provisions of this Section 5 (other than this paragraph 5(a)) or the express terms of any employee benefit plan or as required by law: (i) the Executive’s earned but unpaid Salary for the period ending on the Executive’s Termination Date; (iii) the Executive’s accrued but unpaid vacation pay for the period ending with the Executive’s Termination Date, as determined in accordance with the Company’s policy as in effect from time to time, and all other amounts earned and owed to the Executive through and including the Termination Date; (iiiii) the Executive’s unreimbursed business expenses; and (iviii) any amounts payable to the Executive under the terms of any employee benefit plan. Payments to be made to the Executive pursuant to subparagraphs 5(a)(i) and (ii) shall be made within 30 days after the Executive’s Termination Date in a lump sum, payments to be made pursuant to subparagraph 5(a)(iii) shall be paid in accordance with paragraph 4(d) and amounts payable pursuant to subparagraph 5(a)(iv) shall be paid in accordance with the terms of the applicable employee benefit plan. Except as may be otherwise expressly provided to the contrary in this Agreement or as otherwise provided by law, nothing in this Agreement shall be construed as requiring the Executive to be treated as employed by the Company following the Executive’s Termination Date for purposes of any employee benefit plan or arrangement in which the Executive may participate at such time.

Minimum Payments. If the Executive’s Termination Date occurs during the Agreement Term for any reason, the Executive shall be entitled to the following payments, in addition to any payments or benefits to which the Executive may be entitled under the following provisions of this Section 5 (other than this paragraph 5(a)) or the express terms of any employee benefit plan or as required by law: (i) the Executive’s earned but unpaid Salary for the period ending on the Executive’s Termination Date; (ii) the Executive’s accrued but unpaid vacation pay for the period ending with the Executive’s Termination Date, as determined in accordance with the Company’s policy as in effect from time to time, and all other amounts earned and owed to the Executive through and including the Termination Date; (iii) the Executive’s unreimbursed business expenses; (iv) the Executive’s earned but unpaid Target Bonus and Incentive Bonus for any completed fiscal year or applicable bonus computation period; and (ivv) any amounts payable to the Executive under the terms of any employee benefit plan. Payments to be made to the Executive pursuant to subparagraphs 5(a)(i), (ii) and (iiiv) shall be made within 30 days after the Executive’s Termination Date in a lump sum, payments to be made pursuant to subparagraph 5(a)(iii) shall be paid in accordance with paragraph 4(d) and amounts payable pursuant to subparagraph 5(a)(iv5(a)(v) shall be paid in accordance with the terms of the applicable employee benefit plan. Except as may be otherwise expressly provided to the contrary in this Agreement or as otherwise provided by law, nothing in this Agreement shall be construed as requiring the Executive to be treated as employed by the Company following the Executive’s Termination Date for purposes of any employee benefit plan or arrangement in which the Executive may participate at such time.

Minimum Payments. If the Executive’s Date of Termination Date occurs during the Agreement Term Employment Period for any reason, the Executive shall be entitled to the following payments, in addition to any payments or benefits to which the Executive may be entitled under the following provisions of this Section 5 6 (other than this paragraph 5(aSection 6 (a)) or the express terms of any employee benefit plan or as required by law: (i) the Executive’s earned earned, but unpaid Annual Base Salary for the period ending on the Executive’s Termination DateDate of Termination; (ii) the Executive’s accrued earned and awarded, but unpaid, Incentive Bonus, if any, for the prior fiscal year; (iii) to the extent permitted by the Company’s vacation policies as they may exist from time to time, Executive’s accrued, but unpaid vacation pay for the period ending with the Executive’s Termination Date, as determined in accordance with the Company’s policy as in effect from time to time, and all other amounts earned and owed to the Executive through and including the Termination Date; (iii) the Executive’s unreimbursed business expensesDate of Termination; and (iv) any amounts payable Executive’s unreimbursed business expenses under Section 3(f) of this Agreement through and including, the Date of Termination; provided, that, in the event Executive’s employment is terminated by the Company for Cause or by Executive without Good Reason, the Company will not have an obligation to pay Executive the Executive amounts, if any, under the terms clause (ii) of any employee benefit planthis Section 6(a). Payments to be made to the Executive pursuant to subparagraphs 5(a)(i) and (iithis Section 6(a) shall be made within 30 days after the Executive’s Termination Date in a lump sum, payments to be made pursuant to subparagraph 5(a)(iii) shall be paid in accordance with paragraph 4(d) and amounts payable pursuant to subparagraph 5(a)(iv) shall be paid in accordance with the terms of the applicable employee benefit planTermination. Except as may be otherwise expressly provided to the contrary in this Agreement or as otherwise provided by law, nothing in this Agreement shall be construed as requiring the Executive to be treated as employed by the Company following the Executive’s Date of Termination Date for purposes of any employee benefit plan or arrangement in which the Executive may participate at such time.