Common use of Payments Due to Executive Clause in Contracts

Payments Due to Executive. Executive acknowledges receipt of [____________] ($[______]) from the Company, representing Executive’s accrued but unpaid Base Salary through the Termination Date. In addition, the Executive shall receive (a) her annual bonus (if any) for the fiscal year completed prior to the Termination Date, to be paid at the same time annual bonuses would have been paid if Executive had continued in employment, and (b) shall receive any vested benefits due under any tax-qualified retirement or group insurance plan or program in accordance with the term thereof. Other than as expressly set forth in this SECTION 2, Executive is not entitled to any consulting fees, wages, accrued vacation pay, benefits or any other amounts with respect to her employment through the Termination Date.

Payments Due to Executive. Executive acknowledges receipt of [____________] _____ ($[$ ______]) from the Company, representing Executive’s accrued but unpaid Base Salary through the Termination Date. In addition, the Executive shall receive (a) her annual bonus (if any) for the fiscal year completed prior to the Termination Date, to be paid at the same time annual bonuses would have been paid if Executive had continued in employment, and (b) shall receive any vested benefits due under any tax-qualified retirement or group insurance plan or program in accordance with the term thereof. Other than as expressly set forth in this SECTION 2Section, Executive is not entitled to any consulting fees, wages, accrued vacation pay, benefits or any other amounts with respect to her employment through the Termination Date.

Payments Due to Executive. Executive acknowledges receipt of [____________] ($[______]) from the Company, representing Executive’s accrued but unpaid Base Salary through the Termination Date. In addition, the Executive shall receive (a) her his annual bonus (if any) for the fiscal year completed prior to the Termination Date, to be paid at the same time annual bonuses would have been paid if Executive had continued in employment, and (b) shall receive any vested benefits due under any tax-qualified retirement or group insurance plan or program in accordance with the term thereof. Other than as expressly set forth in this SECTION 2, Executive is not entitled to any consulting fees, wages, accrued vacation pay, benefits or any other amounts with respect to her his employment through the Termination Date.