Common use of Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability Clause in Contracts

Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of employment during the Term pursuant to Sections 4(a), 4(d) or 4(e), Executive, or his estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s separation from service with Sabra (the “Severance Date”) and any accrued and unused paid time off through the Severance Date, which shall be paid to Executive or his estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) days after) the Severance Date (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section 4(e), but not Sections 4(a) or 4(d), Executive or his estate shall be paid (i) any accrued and unpaid Bonus for any prior fiscal year, which shall be paid to Executive or his estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the Severance Date, and (ii) a pro rata portion of the Bonus for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive would have received, if any, based upon actual performance had his employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive is employed by the Company and the denominator of which is 365 or 366, as applicable), which shall be paid at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the conclusion of the fiscal year to which such Bonus relates. Executive shall also receive his vested benefits in accordance with the terms of Sabra’s compensation and benefit plans, and his participation in such plans and all other perquisites shall cease as of the Severance Date, except to the extent Executive may elect to continue coverage under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a), 4(d) or 4(e), Executive shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a).

Appears in 2 contracts

Samples: Employment Agreement (Sabra Health Care REIT, Inc.), Employment Agreement (Sabra Health Care REIT, Inc.)

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Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of employment during the Term pursuant to Sections 4(a), 4(d) or 4(e), ExecutiveXx. Xxxxxx, or his estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s Xx. Xxxxxx’ separation from service with Sabra (the “Severance Date”) and any accrued and unused paid time off through the Severance Date, which shall be paid to Executive Xx. Xxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) days after) the Severance Date (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section 4(e), but not Sections 4(a) or 4(d), Executive Xx. Xxxxxx or his estate shall be paid (i) any accrued and unpaid Bonus for any prior fiscal year, which shall be paid to Executive Xx. Xxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the Severance Date, and (ii) a pro rata portion of the Bonus for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive Xx. Xxxxxx would have received, if any, based upon actual performance had his employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive Xx. Xxxxxx is employed by the Company and the denominator of which is 365 or 366, as applicable), which shall be paid at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the conclusion of the fiscal year to which such Bonus relates. Executive Xx. Xxxxxx shall also receive his vested benefits in accordance with the terms of Sabra’s compensation and benefit plans, and his participation in such plans and all other perquisites shall cease as of the Severance Date, except to the extent Executive Xx. Xxxxxx may elect to continue coverage under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a), 4(d) or 4(e), Executive Xx. Xxxxxx shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a).

Appears in 1 contract

Samples: Employment Agreement (Sabra Health Care REIT, Inc.)

Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of employment during the Term pursuant to Sections 4(a5(a), 4(d5(d) or 4(e5(e), ExecutiveXx. Xxxxxx, or his estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s separation from service with Sabra (the “Severance Date”) termination and any accrued and unused paid time off through the Severance Datedate of termination, which shall be paid to Executive Xx. Xxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) 30 days after) the Severance Date date of termination of employment (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section 4(eSections 5(e), but not Sections 4(a5(a) or 4(d5(d), Executive Xx. Xxxxxx or his estate shall be paid (i) any accrued and unpaid Bonus for any prior fiscal year, which shall be paid to Executive Xx. Xxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four five (7475) days after the Severance Dateconclusion of the fiscal year to which such Bonus relates, and (ii) a pro rata portion (based on the number of days of employment in the fiscal year of termination divided by 365 or 366, as applicable) of the Bonus Bonus, if any, for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive would have received, if any, based upon actual performance had his employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive is employed by the Company and the denominator of which is 365 or 366, as applicable)occurs, which shall be paid at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four five (7475) days after the conclusion of the fiscal year to which such Bonus relates. Executive Xx. Xxxxxx shall also receive his vested benefits in accordance with the terms of SabraSun’s compensation and benefit plans, and his participation in such plans and all other perquisites (including, but not limited to, his car allowance) shall cease as of the Severance Datedate of termination, except to the extent Executive Xx. Xxxxxx may elect to continue coverage as under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a5(a), 4(d5(d) or 4(e5(e), Executive Xx. Xxxxxx shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a6(a).

Appears in 1 contract

Samples: Employment Agreement (Sun Healthcare Group Inc)

Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of employment during the Term pursuant to Sections 4(a), 4(d) or 4(e), Executive, or his her estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s separation from service with Sabra (the “Severance Date”) and any accrued and unused paid time off through the Severance Date, which shall be paid to Executive or his her estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) 30 days after) the Severance Date (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section Sections 4(e), but not Sections 4(a) or 4(d), Executive or his her estate shall be paid (i) any accrued and unpaid Bonus for any prior fiscal year, which shall be paid to Executive or his her estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the Severance Date, and (ii) a pro rata portion (based on the number of days of employment in the fiscal year of termination divided by 365 or 366, as applicable) of the Bonus Bonus, if any, for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive would have received, if any, based upon actual performance had his employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive is employed by the Company and the denominator of which is 365 or 366, as applicable)occurs, which shall be paid at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the conclusion of the fiscal year to which such Bonus relates. Executive shall also receive his her vested benefits in accordance with the terms of Sabra’s compensation and benefit plans, and his her participation in such plans and all other perquisites shall cease as of the Severance Date, except to the extent Executive may elect to continue coverage under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a), 4(d) or 4(e), Executive shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a).

Appears in 1 contract

Samples: Employment Agreement (Sabra Health Care REIT, Inc.)

Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of employment during the Term pursuant to Sections 4(a), 4(d) or 4(e), ExecutiveXx. Xxxxxx, or his estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s Xx. Xxxxxx’ separation from service with Sabra (the “Severance Date”) and any accrued and unused paid time off through the Severance Date, which shall be paid to Executive Xx. Xxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) 30 days after) the Severance Date (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section Sections 4(e), but not Sections 4(a) or 4(d), Executive Xx. Xxxxxx or his estate shall be paid (i) any accrued and unpaid Bonus for any prior fiscal year, which shall be paid to Executive Xx. Xxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the Severance Date, and (ii) a pro rata portion (based on the number of days of employment in the fiscal year of termination divided by 365 or 366, as applicable) of the Bonus Bonus, if any, for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive would have received, if any, based upon actual performance had his employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive is employed by the Company and the denominator of which is 365 or 366, as applicable)occurs, which shall be paid at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the conclusion of the fiscal year to which such Bonus relates. Executive Xx. Xxxxxx shall also receive his vested benefits in accordance with the terms of Sabra’s compensation and benefit plans, and his participation in such plans and all other perquisites shall cease as of the Severance Date, except to the extent Executive Xx. Xxxxxx may elect to continue coverage under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a), 4(d) or 4(e), Executive Xx. Xxxxxx shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a).

Appears in 1 contract

Samples: Employment Agreement (Sabra Health Care REIT, Inc.)

Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of employment during the Term pursuant to Sections 4(a), 4(d) or 4(e), Executive, or his her estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s separation from service with Sabra (the “Severance Date”) and any accrued and unused paid time off through the Severance Date, which shall be paid to Executive or his her estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) days after) the Severance Date (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section 4(e), but not Sections 4(a) or 4(d), Executive or his her estate shall be paid (i) any accrued and unpaid Bonus for any prior fiscal year, which shall be paid to Executive or his her estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the Severance Date, and (ii) a pro rata portion of the Bonus for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive would have received, if any, based upon actual performance had his her employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive is employed by the Company and the denominator of which is 365 or 366, as applicable), which shall be paid at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the conclusion of the fiscal year to which such Bonus relates. Executive shall also receive his her vested benefits in accordance with the terms of Sabra’s compensation and benefit plans, and his her participation in such plans and all other perquisites shall cease as of the Severance Date, except to the extent Executive may elect to continue coverage under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a), 4(d) or 4(e), Executive shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a).

Appears in 1 contract

Samples: Employment Agreement (Sabra Health Care REIT, Inc.)

Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of employment during the Term pursuant to Sections 4(a), 4(d) or 4(e), Executive, or his estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s separation from service with Sabra (the “Severance Date”) and any accrued and unused paid time off through the Severance Date, which shall be paid to Executive or his estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) 30 days after) the Severance Date (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section Sections 4(e), but not Sections 4(a) or 4(d), Executive or his estate shall be paid (i) any accrued and unpaid Bonus for any prior fiscal year, which shall be paid to Executive or his estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the Severance Date, and (ii) a pro rata portion (based on the number of days of employment in the fiscal year of termination divided by 365 or 366, as applicable) of the Bonus Bonus, if any, for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive would have received, if any, based upon actual performance had his employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive is employed by the Company and the denominator of which is 365 or 366, as applicable)occurs, which shall be paid at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four (74) days after the conclusion of the fiscal year to which such Bonus relates. Executive shall also receive his vested benefits in accordance with the terms of Sabra’s compensation and benefit plans, and his participation in such plans and all other perquisites shall cease as of the Severance Date, except to the extent Executive may elect to continue coverage under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a), 4(d) or 4(e), Executive shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a).

Appears in 1 contract

Samples: Employment Agreement (Sabra Health Care REIT, Inc.)

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Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of employment during the Term pursuant to Sections 4(a), 4(d) or 4(e), ExecutiveXx. Xxxxxxx, or his estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s Xx. Xxxxxxx’ separation from service with Sabra Sun (the “Severance Date”) and any accrued and unused paid time off through the Severance Date, which shall be paid to Executive Xx. Xxxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) 30 days after) the Severance Date (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section Sections 4(e), but not Sections 4(a) or 4(d), Executive Xx. Xxxxxxx or his estate shall be paid (i) any accrued and unpaid Bonus for any prior fiscal year, which shall be paid to Executive Xx. Xxxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four five (7475) days after the Severance Date, and (ii) a pro rata portion (based on the number of days of employment in the fiscal year of termination divided by 365 or 366, as applicable) of the Bonus Bonus, if any, for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive would have received, if any, based upon actual performance had his employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive is employed by the Company and the denominator of which is 365 or 366, as applicable)occurs, which shall be paid at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four five (7475) days after the conclusion of the fiscal year to which such Bonus relates. Executive Xx. Xxxxxxx shall also receive his vested benefits in accordance with the terms of SabraSun’s compensation and benefit plans, and his participation in such plans and all other perquisites shall cease as of the Severance Date, except to the extent Executive Xx. Xxxxxxx may elect to continue coverage under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a), 4(d) or 4(e), Executive Xx. Xxxxxxx shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a).

Appears in 1 contract

Samples: Employment Agreement (Sun Healthcare Group Inc)

Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of employment during the Term pursuant to Sections 4(a), 4(d) or 4(e), ExecutiveXx. Xxxxxx, or his estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s Xx. Xxxxxx’ separation from service with Sabra Sun (the “Severance Date”) and any accrued and unused paid time off through the Severance Date, which shall be paid to Executive Xx. Xxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) 30 days after) the Severance Date (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section Sections 4(e), but not Sections 4(a) or 4(d), Executive Xx. Xxxxxx or his estate shall be paid (i) any accrued and unpaid Bonus for any prior fiscal year, which shall be paid to Executive Xx. Xxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four five (7475) days after the Severance Date, and (ii) a pro rata portion (based on the number of days of employment in the fiscal year of termination divided by 365 or 366, as applicable) of the Bonus Bonus, if any, for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive would have received, if any, based upon actual performance had his employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive is employed by the Company and the denominator of which is 365 or 366, as applicable)occurs, which shall be paid at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four five (7475) days after the conclusion of the fiscal year to which such Bonus relates. Executive Xx. Xxxxxx shall also receive his vested benefits in accordance with the terms of SabraSun’s compensation and benefit plans, and his participation in such plans and all other perquisites shall cease as of the Severance Date, except to the extent Executive Xx. Xxxxxx may elect to continue coverage under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a), 4(d) or 4(e), Executive Xx. Xxxxxx shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a).

Appears in 1 contract

Samples: Employment Agreement (Sun Healthcare Group Inc)

Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of his employment during the Term pursuant to Sections 4(a5(a), 4(d5(d) or 4(e5(e), ExecutiveXx. Xxxxxxx, or his estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s separation from service with Sabra (the “Severance Date”) termination and any accrued and unused paid time off through the Severance Datedate of termination in accordance with Company policy, which shall be paid to Executive Xx. Xxxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) 30 days after) the Severance Date date of termination of employment (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section 4(eSections 5(e), but not Sections 4(a5(a) or 4(d5(d), Executive Xx. Xxxxxxx or his estate shall be paid (i) any accrued and unpaid Bonus bonus for any prior fiscal year, which shall be paid to Executive Xx. Xxxxxxx or his estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four five (7475) days after the Severance Dateconclusion of the fiscal year to which such Bonus relates, and (ii) a pro rata portion (determined by multiplying the bonus compensation he would have earned had he been employed for the full year by a fraction the numerator of which shall be the number of calendar days in the year in which his termination occurs that precede such termination, and the denominator of which shall be the total number of days in such year) of the Bonus bonus, if any, for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive would have received, if any, based upon actual performance had his employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive is employed by the Company and the denominator of which is 365 or 366, as applicable)occurs, which shall be paid at the same time that as other annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four five (7475) days after the conclusion of the fiscal year to which such Bonus relates. Executive Xx. Xxxxxxx shall also receive his vested benefits in accordance with the terms of SabraSHG’s compensation and benefit plans, and his participation in such plans and all other perquisites shall cease as of the Severance Datedate of termination, except to the extent Executive Xx. Xxxxxxx may elect to continue coverage as under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a5(a), 4(d5(d) or 4(e5(e), Executive Xx. Xxxxxxx shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a6(a).

Appears in 1 contract

Samples: Employment Agreement (Sun Healthcare Group Inc)

Payment Upon Termination for Good Cause, Resignation without Good Reason, Death or Disability. In the event of termination of his employment during the Term pursuant to Sections 4(a5(a), 4(d5(d) or 4(e5(e), ExecutiveXx. Xxxxx, or his estate where applicable, shall be paid any earned but unpaid Base Salary through the date of Executive’s separation from service with Sabra (the “Severance Date”) termination and any accrued and unused paid time off through the Severance Datedate of termination in accordance with Company policy, which shall be paid to Executive Xx. Xxxxx or his estate or beneficiary, as applicable, in a lump sum in cash upon or promptly following (and in all events within thirty (30) 30 days after) the Severance Date date of termination of employment (collectively, the “Accrued Obligations”). In addition, in the case of a termination of employment pursuant to Section 4(eSections 5(e), but not Sections 4(a5(a) or 4(d5(d), Executive Xx. Xxxxx or his estate shall be paid (i) any accrued and unpaid Bonus bonus for any prior fiscal year, which shall be paid to Executive Xx. Xxxxx or his estate or beneficiary, as applicable, in a lump sum in cash at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four five (7475) days after the Severance Date, conclusion of the fiscal year to which such Bonus relates; and (ii) a pro rata portion (based on the number of days of employment in the fiscal year of termination divided by 365 or 366, as applicable) of the Bonus bonus, if any, for the fiscal year in which the termination occurs (determined by multiplying the Bonus Executive would have received, if any, based upon actual performance had his employment continued through the end of the fiscal year by a fraction, the numerator of which is the number of days during the year of termination that Executive is employed by the Company and the denominator of which is 365 or 366, as applicable)occurs, which shall be paid at the time that annual bonuses are paid to senior management personnel with respect to that fiscal year, but in any event within seventy-four five (7475) days after the conclusion of the fiscal year to which such Bonus relates. Executive Xx. Xxxxx shall also receive his vested benefits in accordance with the terms of Sabra’s Sun's compensation and benefit plans, and his participation in such plans and all other perquisites shall cease as of the Severance Datedate of termination, except to the extent Executive Xx. Xxxxx may elect to continue coverage as under any welfare benefit plans as required by Part 6, Title I of the Employee Retirement Income Security Act of 1974, as amended. Upon a termination under Section 4(a5(a), 4(d5(d) or 4(e5(e), Executive Xx. Xxxxx shall not be entitled to any compensation or benefits under this Agreement except as set forth in this Section 5(a6(a).

Appears in 1 contract

Samples: Employment Agreement (Sun Healthcare Group Inc)

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