Common use of Other than Cause or Death or Disability Clause in Contracts

Other than Cause or Death or Disability. (a) If, during the term of this Agreement, (i) the Company terminates the Executive's employment for other than Cause or death or Disability, or (ii) the Executive terminates his employment hereunder with Good Reason (as defined below), the Executive's employment shall terminate and the Executive shall be entitled to receive the following: (1) an amount equal to the Contract Balance (as defined below) in one lump sum upon such termination of his employment; and (2) the Accrued Obligations as of the date of termination of employment. Any payment made pursuant to this Section IV-D-3(a) shall be reduced by all amounts required to be withheld by applicable law, and shall only be made in exchange for a valid release of all claims the Executive may have against the Company in a form acceptable to the Company. Such payment shall constitute the sole and entire obligation of the Company to provide any compensation or benefits to the Executive upon termination, except for obligations under the Company's 401(k) Savings Plan, obligations pursuant to the terms of any outstanding stock option agreements, and the Company's obligations to make payments required to be made under any other incentive compensation plan .

Appears in 2 contracts

Samples: Employment Agreement (Apria Healthcare Group Inc), Employment Agreement (Apria Healthcare Group Inc)

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Other than Cause or Death or Disability. (a) If, during the term of this AgreementAgreement , (i) the Company terminates the Executive's employment for other than Cause or death or Disability, or (ii) the Executive terminates his employment hereunder with Good Reason (as defined below), the Executive's employment this Agreement shall terminate and the Executive shall be entitled to receive the following: (1) an amount equal to the Contract Balance (as defined below) a severance payment payable in one lump sum upon such the termination of his employment; and employment in an amount equal to 300% of his Annual Compensation (2) the Accrued Obligations as of the date of termination of employmentdefined below). Any payment made pursuant to this Section IV-D-3(a) shall be reduced by all amounts required to be withheld by applicable law, and shall only be made in exchange for a valid release of all claims the Executive may have against the Company in a form acceptable to the Company. Such payment shall constitute the sole and entire obligation of the Company to provide any compensation or benefits to the Executive upon termination, except for obligations under the Company's 401(k) Savings Plan, obligations pursuant to the terms of any outstanding stock option agreements, agreements and the Company's obligations obligation to make payments provide the benefits required by Section IV-D-3(d) below, and except that the Company will also pay to be made under the Executive any other incentive compensation plan Accrued Obligations (as defined in Section IV-D-1). (b) The term "Good Reason" means:

Appears in 1 contract

Samples: Employment Agreement (Apria Healthcare Group Inc)

Other than Cause or Death or Disability. (a) If, during the term of this Agreement, (i) the Company terminates the Executive's employment for other than Cause or death or Disability, or (ii) the Executive terminates his employment hereunder with Good Reason (as defined below), the Executive's employment this Agreement shall terminate and the Executive shall be entitled to receive the following: (1) an amount equal to the Contract Balance (as defined below) a severance payment payable in one lump sum upon such the termination of his employment; and employment in an amount equal to 200% of his Annual Compensation (2) the Accrued Obligations as of the date of termination of employmentdefined below). Any payment made pursuant to this Section IV-D-3(a) shall be reduced by all amounts required to be withheld by applicable law, and shall only be made in exchange for a valid release of all claims the Executive may have against the Company in a form acceptable to the Company. Such payment shall constitute the sole and entire obligation of the Company to provide any compensation or benefits to the Executive upon termination, except for obligations under the Company's 401(k) Savings Plan, obligations pursuant to the terms of any outstanding stock option agreements, and except that the Company's obligations Company will also pay to make payments required to be made under the Executive any other incentive compensation plan Accrued Obligation (as defined in Section IV-D-1). (b) The term "Good Reason" means:

Appears in 1 contract

Samples: Employment Agreement (Apria Healthcare Group Inc)

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Other than Cause or Death or Disability. (a) If, during the term of this Agreement, (i) the Company terminates the Executive's employment for other than Cause or death or Disability, or (ii) the Executive terminates his employment hereunder with Good Reason (as defined below), the Executive's employment this Agreement shall terminate and the Executive shall be entitled to receive the following: (1) an amount equal to the Contract Balance (as defined below) a severance payment payable in one lump sum upon such the termination of his employment; and employment in an amount equal to 300% of his Annual Compensation (2) the Accrued Obligations as of the date of termination of employmentdefined below). Any payment made pursuant to this Section IV-D-3(a) shall be reduced by all amounts required to be withheld by applicable law, and shall only be made in exchange for a valid release of all claims the Executive may have against the Company in a form acceptable to the Company. Such payment shall constitute the sole and entire obligation of the Company to provide any compensation or benefits to the Executive upon termination, except for obligations under the Company's 401(k) Savings Plan, obligations pursuant to the terms of any outstanding stock option agreements, agreements and the Company's obligations obligation to make payments provide the benefits required by Section IV-D-3(d) below, and except that the Company will also pay to be made under the Executive any other incentive compensation plan Accrued Obligations (as defined in Section IV-D-1). (b) The term "Good Reason" means:

Appears in 1 contract

Samples: Employment Agreement (Apria Healthcare Group Inc)

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