Payment of Accrued Obligations. The Company shall pay to the Executive upon the Executive’s Severance a lump sum payment in cash, paid in accordance with applicable law, as soon as practicable but no later than ten (10) days after the Severance Date, equal to the sum of (a) the Executive’s accrued annual base salary and any accrued vacation pay through the Severance Date, and (b) any annual bonus earned by the Executive from the year preceding the Severance Date but not yet paid as of the Severance Date.
Appears in 10 contracts
Samples: Change in Control Severance Agreement (Treace Medical Concepts, Inc.), Change in Control Severance Agreement (Treace Medical Concepts, Inc.), Change in Control Severance Agreement (Treace Medical Concepts, Inc.)
Payment of Accrued Obligations. The Company shall pay to the Executive upon the Executive’s Severance a lump sum payment in cash, paid in accordance with applicable law, as soon as practicable but no later than ten (10) days after the Severance Date, equal to the sum of (a) the Executive’s accrued annual base salary and any accrued vacation pay through the Severance Date, and (b) any annual bonus earned by the Executive from the year preceding the Severance Date but not yet paid as of the Severance Date.
Appears in 3 contracts
Samples: Change in Control Severance Agreement (Treace Medical Concepts, Inc.), Severance Agreement (Treace Medical Concepts, Inc.), Change of Control Severance Agreement (Horizon Lines, Inc.)
