Payment Upon Termination of Employment. A bargaining unit member whose service with the University terminates for any reason shall be paid an amount equal to the vacation leave that had been accrued prior to such termination but which had not been used, provided that no monetary or other allowance has already been made for that reason. Upon the death of a bargaining unit member, the University shall authorize payment of vacation upon the establishment of a valid claim in the following order of precedence:
Payment Upon Termination of Employment. 1.1. The term ("Term") of this Agreement shall commence on the date of execution of this Agreement and shall remain in effect for a period of three years from the date of this agreement (the "Employment").
1.2. Subject to clauses 1.4 and 3, the Employee shall be entitled to a lump-sum payment in an amount equal to 12 months base salary at the greater of the rate in effect on the effective date or as increased from time to time hereafter, and any accrued but unused vacation pay (the "Termination Payment") within 15 days of the termination of the Employment during the term hereof, and all of Employee's stock options which would have vested within 18 months of the date of termination of the Employment shall immediately vest in full and, notwithstanding anything to the contrary contained in any other document, be fully exercisable for a period of one year.
1.3. The Termination Payment shall be in full and final settlement of any rights, payments or benefits to which the Employee is entitled under any other agreement or arrangement pursuant to which he is employed by the Company or any of its subsidiaries or affiliates other than:
1.3.1. benefits pursuant to any life, disability, health, or other insurance policy or benefit plan provided by the Company;
1.3.2. stock options issued to Employee pursuant to any stock option plan of the Company.
1.4. The Employee shall not be entitled to the Termination Payment when the Employment is terminated in any of the following circumstances (the Employee being entitled, in such circumstances, only to payment for accrued and unused vacation, any payments to which he is otherwise entitled pursuant to life, disability, health or other insurance plan, and to exercise any stock option to the extent otherwise vested and exercisable under the terms of such plan and stock option agreements):
1.4.1. the conviction of the Employee of a felony involving dishonesty;
Payment Upon Termination of Employment. If the Executive's employment is terminated for any reason, then, without limiting any other rights or remedies available to the Company at law or in equity, the Company shall pay or provide to the Executive, his legal representatives, heirs, eligible dependents, if any, or permitted assigns, as applicable, (i) within ten (10) days after the Termination Date, all Base Compensation earned but unpaid as of the Termination Date; and (ii) all benefits to which such persons may be entitled under any of the Benefit Plans which provide for benefits after termination of employment, in accordance with the terms thereof.
Payment Upon Termination of Employment. Upon the termination of the Executive’s employment with the Company pursuant to Section 4, the Executive will receive the following:
(a) Termination by the Company for Cause, by the Executive Without Good Reason or Due to Death or Disability of the Executive. Upon the termination of the Executive’s employment by the Company for Cause pursuant to subsection 4(a), by the Executive without Good Reason pursuant to subsection 4(d) or in the event of termination due to the death or Disability of the Executive pursuant to subsection 4(e), the Company will pay or provide to the Executive the following amounts and benefits:
(i) that portion of the Executive’s Base Salary earned through the Date of Termination, payable in accordance with normal payroll practices;
(ii) all amounts that have vested or accrued prior to the Date of Termination under all incentive compensation or employee benefit plans of the Bank or Holding Company in accordance with the provisions of such plans; and
(iii) notwithstanding the foregoing, all options granted to the Executive to purchase shares of common stock of the Holding Company and all shares of restricted stock of the Holding Company (whether such options and restricted shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and the Executive. It is noted that nothing in this Agreement will serve to prevent the Executive from receiving long term disability payments from the Company’s long term disability program, if any, if the Executive is otherwise eligible to receive benefits under such a program.
Payment Upon Termination of Employment. Upon the termination of the Executive’s employment with the Company pursuant to Section 1(b) or Section 4 hereof, the Executive shall receive, subject to Sections 5(g) and 5(h), the following in accordance with the appropriate subsection below:
Payment Upon Termination of Employment. Upon the termination of the Executive's employment with the Company pursuant to Section 4 hereof, the Executive shall receive the following:
(a) Termination by the Company for Cause or by the Executive Without Good Reason. Upon the termination of the Executive's employment by the Company for Cause pursuant to Section 4(a) hereof or by the Executive without Good Reason pursuant to Section 4(d) hereof, the Company shall pay to the Executive (i) that portion of the Executive's Base Salary earned through the Date of Termination, (ii) an amount, in a lump sum, equal to the Executive's Base Salary for three (3) months, which the Executive agrees shall constitute adequate consideration for his covenants and agreements set forth in Section 7 (Non-Competition) and Section 8 (Non-Solicitation) of this Agreement, and (iii) all amounts that have vested or accrued prior to the Date of Termination under all incentive compensation or employee benefit plans of the Company in accordance with the provisions of such plans. Notwithstanding the foregoing, all options (whether vested or unvested) granted to the Executive to purchase shares of common stock of the Company as of the Date of Termination shall be treated in accordance with the Stock Option Plan and the stock option agreement(s) between the Company and the Executive.
(b) Termination by the Company Without Cause or by the Executive With Good Reason. Upon the termination of the Executive's employment by the Company without Cause pursuant to Section 4(b) hereof or by the Executive with Good Reason pursuant to Section 4(c) hereof, the Company shall pay to the Executive (i) that portion of his Base Salary earned through the Date of Termination, (ii) an amount payable in twenty-four (24) equal monthly installments equal to the sum of two times (A) the Executive's Base Salary in effect on the Date of Termination, and (B) the greater of the annual cash bonuses paid to the Executive under the STIP up to the "target" Award Rates, as defined thereunder, in the two fiscal years of the Company immediately preceding the Date of Termination, which sum the Executive agrees shall constitute adequate consideration for his covenants and agreements set forth in Section 7 (Non-Competition) and Section 8 (Non-Solicitation) of this Agreement, and (iii) all amounts that have vested or accrued prior to the Date of Termination under all incentive compensation or employee benefit plans of the Company in accordance with the provisions of such p...
Payment Upon Termination of Employment. 14.1. If Executive’s employment is involuntarily terminated during the Initial Term at the initiative of the Company for any reason other than Cause, Executive’s death or Disability, then, in addition to such compensation that has been earned but not paid to Executive as of the Executive’s Termination Date (“Accrued Compensation”), and subject to the conditions outlined below, the Company will continue to pay Executive his then-current Base Salary for the remainder of the Initial Term. The Company will pay the separation payments under this Section 14.1 to Executive in substantially equal installments in accordance with the Company’s regular payroll practices and schedule, commencing on the first payroll date following the Termination Date and continuing for the remainder of the Initial Term; provided, however, that any installments that otherwise would be payable on the Company’s regular payroll dates between the Termination Date and the fortieth (40th) calendar day after the Termination Date will be delayed until the Company’s first regular payroll date that is more than forty (40) days after the Termination Date and included with the installment payable on such payroll date.
14.2. If Executive’s employment is involuntarily terminated following the Initial Term at the initiative of the Company for any reason other than Cause, Executive’s death or Disability, then, in addition to the Accrued Compensation, and subject to the conditions outlined below, the Company will continue to pay Executive his then-current Base Salary for a period of 12 months following the Termination Date. The Company will pay the separation payments under this Section 14.2 to Executive in substantially equal installments in accordance with the Company’s regular payroll practices and schedule, commencing on the first payroll date following the Termination Date and continuing for the remainder of the 12-month period following the Termination Date; provided, however, that any installments that otherwise would be payable on the Company’s regular payroll dates between the Termination Date and the fortieth (40th) calendar day after the Termination Date will be delayed until the Company’s first regular payroll date that is more than forty (40) days after the Termination Date and included with the installment payable on such payroll date.
14.3. The Company and Executive intend that the separation pay provided under this Section 14 shall be exempt from Section 409A of the Internal Revenue Co...
Payment Upon Termination of Employment. 2.1. The term (“Term”) of this Agreement shall commence on 22nd May 2006 and this Agreement shall remain in effect its termination in accordance with its terms. Without any cause, both parties have the right to terminate this employment conbtract by giving 3 months’ written notie or payment of 3 months’ basic salary (the lump sum payment in clause 2.7) in lieu thereof.
2.2. The Employee shall be paid a monthly salary of US$11,852.00 plus a half month’s bonus and a 13th month bonus of one month’s pay if employee is employed by the Company on the date the Company shall elect to pay such half month and 13th month bonuses in Hong Kong. In the first year, any such bonus shall be prorated based on a fraction the numerator of which is the number of days of employment by the Company during the prior 365 days and the denominator of which is 365. Payment will be made in accordance with the relevant provisions in the Staff Handbook of Peak Plastics and Metal Products (International) Limited (“Peak Plastics”), a subsidiary of the Company.
2.3. The Company shall issue to the Employee stock options in respect of 90,000 ordinary shares in the Company under the Company’s stock option plan.
2.4. The Employee shall be entitled to fly business class on all air flights over five hours in length for travel on Company business during her employment with the Company (“Employment”).
2.5. The Employee shall be responsible for and shall pay all income, sales, real estate, value added and other taxes and duties which are payable by the Employee, without any form of assistance or contribution from the Company.
2.6. The Employee shall be based in Hong Kong and shall be entitled to participate in all Company benefit plans in effect in,Peak Plastics during the term of her employment with the Company or any subsidiary of the Company. Employment Agreement – Xxxx Xxxx 24th April 2006
2.7. Subject to clauses 2.9 and 4, the Employee shall be entitled to a lump-sum payment in an amount equal to the greater of (a) US$35,556 and (b) 3 months’ base salary at the rate in effect at the time of termination of the Employment, and any accrued but unused vacation pay (the “Termination Payment”) within 15 days of receipt by the Company of the General Release in the form attached hereto as Appendix I and signed by the Employee; and all of the Employee’s stock options in the Company which would otherwise vest in the Employee within 18 months of the date of termination of the Employment shall immediately ...
Payment Upon Termination of Employment. 1.1. The term (“Term”) of this Agreement shall commence on January 1, 2005 and shall remain in effect until the earlier of (a) December 31, 2005 or (b) until terminated as hereinafter provided.
1.2. Employee shall be paid a monthly salary of $20,833.33 and shall be entitled to participate in all Company benefit plans in effect from time to time.
1.3. Subject to clauses 1.5 and 3, the Employee shall be entitled to a lump-sum payment in an amount equal to the greater of (a) $250,000 or (b) 12 months base salary at the rate in effect at the time of termination, and any accrued but unused vacation pay (the “Termination Payment”) within 15 days of the termination of employment during the term hereof, and all of Employee’s stock options which would have vested within 18 months of the date of termination of employment shall immediately vest in full and, notwithstanding anything to the contrary contained in any other document, be fully exercisable for a period of one year.
1.4. The Termination Payment shall be in full and final settlement of any rights, payments or benefits to which the Employee is entitled under any other agreement or arrangement pursuant to which he is employed by the Company or any of its subsidiaries or affiliates other than:
1.4.1. benefits pursuant to any life, disability, health, or other insurance policy or benefit plan provided by the Company;
1.4.2. stock options issued to Employee pursuant to any stock option plan of the Company.
1.5. The Employee shall not be entitled to the Termination Payment when employment is terminated in any of the following circumstances (the Employee being entitled, in such circumstances, only to payment for accrued and unused vacation, any payments to which he is otherwise entitled pursuant to life, disability, health or other insurance plan, and to exercise any stock option to the extent otherwise vested and exercisable under the terms of such plan and stock option agreements): Employment Agreement January 1, 2005
1.5.1. the conviction of the Employee of a felony involving dishonesty;
Payment Upon Termination of Employment. On the last day of employment, redundant employees will receive a termination payment based on the following formulas:
(a) 4 weeks' pay.
(b) a further 4 weeks' pay for each year of service, calculated to completed quarters provided the total payment made pursuant to sub-clauses 7(a) and 7(b) will not exceed 56 weeks' pay.
(c) accrued annual leave entitlements in accordance with the applicable NSW Legislation and/or Award, and
(d) All payment made pursuant to this clause will be taxed in accordance with the applicable law. The unions may not make any claim on the Company that is based on any change to the taxation treatment of termination payments.
