Common use of Other Termination Prior to a Change of Control Clause in Contracts

Other Termination Prior to a Change of Control. If Executive’s Termination Date occurs during the Term and prior to any Change of Control, and if such termination is: (i) by reason of Executive’s abandonment of or resignation from employment for any reason; (ii) by reason of termination of Executive’s employment by the Company for Cause; (iii) because of Executive’s death or Disability; or (iv) upon or following expiration of the Term, then the Company will pay to Executive, or Executive’s beneficiary or Executive’s estate, as the case may be, such base salary that has been earned but not paid to Executive as of the Termination Date, payable pursuant to the Company’s normal payroll practices and procedures, and such incentive compensation and benefits that have been earned as of the Termination Date, payable to the extent and in the manner provided in the applicable plans or programs, and Executive shall not be entitled to any additional compensation or benefits provided under Section 9 hereof.

Appears in 3 contracts

Samples: Key Employee Agreement (Graco Inc), Key Employee Agreement (Graco Inc), Key Employee Agreement (Graco Inc)

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Other Termination Prior to a Change of Control. If Executive’s Termination Date occurs during the Term and prior to any Change of Control, and if such termination is: : (i) by reason of Executive’s abandonment of or resignation from employment for any reason; ; (ii) by reason of termination of Executive’s employment by the Company for Cause; ; (iii) because of Executive’s death or Disability; or or (iv) upon or following expiration of the Term, then the Company will pay to Executive, or Executive’s beneficiary or Executive’s estate, as the case may be, such base salary that has been earned but not paid to Executive as of the Termination Date, payable pursuant to the Company’s normal payroll practices and procedures, and such incentive compensation and benefits that have been earned as of the Termination Date, payable to the extent and in the manner provided in the applicable plans or programs, and Executive shall not be entitled to any additional compensation or benefits provided under Section 9 hereof.

Appears in 1 contract

Samples: Key Employee Agreement (Graco Inc)

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