Non-Qualifying Termination. (a) Notwithstanding anything herein or in any other agreement to the contrary, if the Executive’s employment is terminated by the Company for Cause, the Company’s sole obligation shall be to pay the Executive the Accrued Amounts and the Executive shall not be entitled to severance benefits under this Agreement or any other agreement or severance plan, policy or program of the Company. (b) Notwithstanding anything herein or in any other agreement to the contrary, to the extent that the Executive experiences a Termination for any reason while a Company-led internal investigation into facts that could reasonably give rise to the Executive’s Termination for Cause is pending: (i) the Executive shall not be entitled to receive any severance benefits under this Agreement (other than the Accrued Amounts) or any other agreement or severance plan, policy or program of the Company; and (ii) the Executive shall not be entitled to vest in or receive any Variable Compensation in either case, unless and until the Company concludes its investigation with a finding that grounds for a Termination for Cause did not in fact exist, and only to the extent provided for under the terms of the applicable agreement, plan, policy or program. (c) If the Executive experiences a Termination by reason of the Executive’s death or if the Executive gives the Company a Notice of Termination other than for Good Reason, the Company’s sole obligation shall be to pay the Executive the Accrued Amounts. (d) If the Executive experiences a Termination by reason of the Executive’s Total Disability, the Company shall provide the Executive with the following: (i) the Accrued Amounts; and (ii) the Executive shall be entitled to receive disability benefits available under the Company’s long-term disability plan as then in effect, to the extent applicable.
Appears in 6 contracts
Samples: Executive Severance Agreement (Bath & Body Works, Inc.), Executive Severance Agreement (Bath & Body Works, Inc.), Executive Severance Agreement (Bath & Body Works, Inc.)
Non-Qualifying Termination. (a) Notwithstanding anything herein or in any other agreement to the contrary, if the Executive’s employment is terminated by the Company for Cause, the Company’s sole obligation shall be to pay the Executive the Accrued Amounts and the Executive shall not be entitled to severance benefits under this Agreement or any other agreement or severance plan, policy or program of the CompanyCompany (or any of its affiliates).
(b) Notwithstanding anything herein or in any other agreement to the contrary, to the extent that the Executive experiences a Termination for any reason while a Company-led internal investigation into facts that could reasonably give rise to the Executive’s Termination for Cause is pending: (i) the Executive shall not be entitled to receive any severance benefits under this Agreement (other than the Accrued Amounts) or any other agreement or severance plan, policy or program of the CompanyCompany (or any of its affiliates); and (ii) the Executive shall not be entitled to vest in or receive any Variable Compensation Compensation, in either case, unless and until the Company concludes its investigation with a finding that grounds for a Termination for Cause did not in fact exist, and only to the extent provided for under the terms of the applicable agreement, plan, policy or program.
(c) If the Executive experiences a Termination by reason of the Executive’s death or if the Executive gives the Company a written Notice of Termination other than for Good Reason, the Company’s sole obligation shall be to pay the Executive the Accrued Amounts.
(d) If the Executive Executive’s experiences a Termination by reason of the Executive’s Total Disability, the Company Company’s sole obligation shall provide be to pay the Executive with the following: (i) the Accrued Amounts; Amounts and (ii) the Executive shall be entitled to receive disability benefits available under the Company’s (or any affiliate’s) long-term disability plan as then in effectplan, to the extent applicable.
Appears in 5 contracts
Samples: Executive Severance Agreement (Victoria's Secret & Co.), Executive Severance Agreement (Victoria's Secret & Co.), Executive Severance Agreement (Victoria's Secret & Co.)
Non-Qualifying Termination. (ai) Notwithstanding anything herein or in any other agreement to the contrary, if the Executive’s employment is terminated by the Company for Cause, the Company’s sole obligation shall be to pay the Executive the Accrued Amounts and the Executive shall not be entitled to severance benefits under this Agreement or any other agreement or severance plan, policy or program of the CompanyCompany (or any of its affiliates).
(bii) Notwithstanding anything herein or in any other agreement to the contrary, to the extent that the Executive experiences a Termination for any reason while a Company-led internal investigation into facts that could reasonably give rise to the Executive’s Termination for Cause is pending: (i) the Executive shall not be entitled to receive any severance benefits under this Agreement (other than the Accrued Amounts) or any other agreement or severance plan, policy or program of the CompanyCompany (or any of its affiliates); and (ii) the Executive shall not be entitled to vest in or receive any Variable Compensation Compensation, in either case, unless and until the Company concludes its investigation with a finding that grounds for a Termination for Cause did not in fact exist, and only to the extent provided for under the terms of the applicable agreement, plan, policy or program.
(ciii) If the Executive experiences a Termination by reason of the Executive’s death or if the Executive gives the Company a written Notice of Termination other than for Good Reason, the Company’s sole obligation shall be to pay the Executive the Accrued Amounts.
(div) If the Executive Executive’s experiences a Termination by reason of the Executive’s Total Disability, the Company Company’s sole obligation shall provide be to pay the Executive with the following: (i) the Accrued Amounts; Amounts and (ii) the Executive shall be entitled to receive disability benefits available under the Company’s (or any affiliate’s) long-term disability plan as then in effectplan, to the extent applicable.
Appears in 1 contract
Samples: Executive Severance Agreement (Victoria's Secret & Co.)