Common use of Monies and Benefits to Executive Clause in Contracts

Monies and Benefits to Executive. Upon such Change in Control or termination, Executive shall be entitled to receive: (i) any Base Salary earned and unpaid, and fringe benefits described in Section 3.3 hereof accrued and unpaid, through the date of such Change in Control or termination; (ii) three (3) times the aggregate of (x) the Base Salary plus (y) your annual bonus target (65% of Base Salary or such other higher amount as approved by the Board); (iii) any performance bonus (65% of Base Salary or such other higher amount as approved by the Board) for the fiscal year in which such Change in Control or termination occurs pro-rated through the date of such Change in Control or termination; provided, however, Executive shall not receive any portion of the performance bonus under this Section 4.6.1(iii) unless the Board determines in good faith that Executive would have been entitled to receive any performance bonus for the fiscal year in which such Change in Control or termination occurred in accordance with Section 3.2 hereof; (iv) continuation of the fringe benefits described in Sections 3.3 hereof under which Executive is participating as of the date of such Change in Control or termination for a period of thirty-six (36) months from the date of such Change in Control or termination; (v payment of outplacement services for Executive for a period of twelve (12) months from the date of such Change in Control or termination; provided, however, the aggregate amount of such payments shall not exceed $15,000.00; and (vi) continuation of the financial planning allowance described in Section 3.5 hereof for a period of thirty-six (36) months from the date of such Change in Control or termination.

Appears in 1 contract

Samples: Employment Agreement (Stage Stores Inc)

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Monies and Benefits to Executive. Upon such a Termination Contemporaneous with a Change in Control or terminationControl, the Executive shall be entitled to receive: (i) any Base Salary earned and unpaid, and fringe benefits described in Section 3.3 hereof 3.4 accrued and unpaid, through the date of such the Change in Control or termination, whichever occurs later; (ii) three (3) times the aggregate of (x) the Base Salary plus (y) your annual bonus target (65% as of Base Salary the date of the Change in Control or such other higher amount as approved by the Board)termination; (iiiii) any performance bonus (65% of Base Salary or such other higher amount as approved by the Board) Annual Bonus for the fiscal year in which such Termination Contemporaneous with the Change in Control or termination occurs pro-rated through the date of such Change in Control or termination, whichever occurs later; provided, however, the Executive shall not receive any portion of the performance bonus Annual Bonus under this Section 4.6.1(iii4.6.1(ii) unless the Board determines in good faith that the Executive would have been entitled to receive any performance bonus Annual Bonus for the fiscal year in which such the Termination Contemporaneous with the Change in Control or termination occurred in accordance with Section 3.2 hereof3.2; (iviii) continuation of the fringe benefits described in Sections 3.3 hereof 3.4 under which the Executive is participating as of the date of such the Termination Contemporaneous with the Change in Control or termination for a period of thirty-six (36) months from from, the date of such the Change in Control or termination, whichever occurs later; and (v iv) payment of outplacement services for the Executive for a period of twelve twenty-four (1224) months from the date of such the Termination Contemporaneous with the Change in Control or terminationControl; provided, however, the aggregate amount of such any outplacement services payments shall not exceed $15,000.00; and 15,000.00 per twelve (vi12) continuation of the financial planning allowance described in Section 3.5 hereof for a period of thirty-six (36) months from the date of such Change in Control or terminationmonth period.

Appears in 1 contract

Samples: Employment Agreement (RoomStore, Inc.)

Monies and Benefits to Executive. Upon such Change in Control or termination, Executive shall be entitled to receive: (i) any Base Salary earned and unpaid, and fringe benefits described in Section 3.3 hereof accrued and unpaid, through the date of such Change in Control or termination; (ii) three (3) times the aggregate of (x) the Base Salary plus (y) your annual bonus target (65% the Incentive Compensation at the Target Rate in effect as of Base Salary the date of such Change in Control or such other higher amount as approved by the Board)termination; (iii) any performance bonus (65% of Base Salary or such other higher amount as approved by the Board) Incentive Compensation for the fiscal year in which such Change in Control or termination occurs pro-rated through the date of such Change in Control or termination; provided, however, Executive shall not receive any portion of the performance bonus Incentive Compensation under this Section 4.6.1(iii) unless the Board determines in good faith that Executive would have been entitled to receive any performance bonus Incentive Compensation for the fiscal year in which such Change in Control or termination occurred in accordance with Section 3.2 hereof; (iv) continuation of the fringe benefits described in Sections 3.3 hereof under which Executive is participating as of the date of such Change in Control or termination for a period of thirty-six (36) months from the date of such Change in Control or termination; (v v) payment of outplacement services for Executive for a period of twelve (12) months from the date of such Change in Control or termination; provided, however, the aggregate amount of such payments shall not exceed $15,000.00; and (vi) continuation of the financial planning allowance described in Section 3.5 hereof for a period of thirty-six (36) months from the date of such Change in Control or termination.

Appears in 1 contract

Samples: Employment Agreement (Stage Stores Inc)

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Monies and Benefits to Executive. Upon such Change in Control or termination, Executive shall be entitled to receive: (i) any Base Salary earned and unpaid, and fringe benefits described in Section 3.3 hereof accrued and unpaid, through the date of such Change in Control termination or terminationthe date on which the Company terminates this Agreement during such thirty (30) day period; (ii) three one and one-half (31.50) times the aggregate of (x) the Base Salary plus (y) your annual bonus target (65% the Incentive Compensation at the Target Rate in effect as of Base Salary or the date of such other higher amount as approved by the Board)termination; (iii) any performance bonus (65% of Base Salary or such other higher amount as approved by the Board) Incentive Compensation for the fiscal year in which such Change in Control or termination occurs pro-rated through the date of such Change in Control or termination; provided, however, Executive shall not receive any portion of the performance bonus Incentive Compensation under this Section 4.6.1(iii4.4.1(iii) unless the Board determines in good faith that Executive would have been entitled to receive any performance bonus Incentive Compensation for the fiscal year in which such Change in Control or termination occurred in accordance with Section 3.2 hereof; (iv) continuation of the fringe benefits described in Sections Section 3.3 hereof under which Executive is participating as of the date of such Change in Control or termination for a period of thirty-six eighteen (3618) months from the date of such Change in Control or termination; and (v v) payment of outplacement services for Executive for a period of twelve (12) months from the date of such Change in Control or terminationmonths; provided, however, the aggregate amount of such payments shall not exceed $15,000.00; and (vi) continuation of the financial planning allowance described in Section 3.5 hereof for a period of thirty-six (36) months from the date of such Change in Control or termination.

Appears in 1 contract

Samples: Employment Agreement (Stage Stores Inc)

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