Payments Upon Termination Clause Samples

Payments Upon Termination. (a) In the event of the termination of your employment hereunder for any reason or for no reason, the Company (a) will pay to you (or to your estate) (i) the portion of your Base Salary that has accrued prior to such termination and has not yet been paid, and (ii) an amount equal to the value of your accrued unused vacation days; and (b) will reimburse you for expenses properly incurred by you on behalf of the Company prior to such termination and properly documented in accordance with Section 3(d) above. Such amounts will be paid promptly after termination. (b) If the Company terminates your employment without Cause, or you terminate your employment with Good Reason, the Company will pay you an amount equal to your Severance Compensation in twenty (20) equal monthly installments in arrears commencing one month after the date of termination and shall also pay you, on the date of your termination, your Accrued Base Compensation as of the termination date. The Company’s obligation to make such payments to you shall cease upon your material breach of any written agreement between you and the Company or of any written policy of the Company by which you are bound, if such breach causes or is likely to cause material harm to the Company. (c) If the Company terminates your employment at any time for Cause, or upon your death or Disability, the Company will pay you your Accrued Base Compensation. (d) Upon any termination of your employment with the Company to which Section 4(b) applies, the Company shall maintain the benefits that you were receiving as of the termination date and shall take such measures as are permissible under its medical, life, and disability insurance and any other employee benefit plans or programs to continue coverage or reimbursement for you (and your family, if applicable) on the same terms (including any required contribution by you) as immediately prior to such termination. If it is not permissible to continue any such coverage under any such insurance plans, the Company will pay you on the same schedule as set forth in Section 4(b), as additional severance compensation, such amount, net of state and federal income taxes payable by you with respect thereto, as will be sufficient for you to obtain such insurance coverage on an individual basis assuming that you (and each member of your family who is to be covered) is a “standard risk” for insurance purposes. Your rights under this Section 4(d) shall continue only for so long as you are en...

Payments Upon Termination. 7.1 The Customer shall pay the Company liquidated damages (total monthly fee as specified in the Sales and Services Agreement x remaining months in the Term) upon the occurrence of any of the following events before the expiry of the Term: a) if the Customer changes the Service; b) if the Customer changes the registered name for the Service; c) if the Customer changes the monthly fee as specified in the Sales and Services Agreement; or d) if the Service and/or related services are terminated/disconnected for whatever reason (other than termination of Service as specified in Clause 7.4 below). 7.2 If the Customer terminates the Service during the first 365 days, the Customer shall pay the Company a HK$680 handling charge in addition to the liquidated damages specified in Clause 7.1. 7.3 If the Customer requests re-installation of the Service after termination of the same, the Company will charge an installation fee of HK$680 or such amount as determined by the Company at its sole discretion. 7.4 If the Customer terminates the Service as a result of moving to an area without the Company’s service coverage, the Customer will be released of all its obligations under this fixed term contract and will not be required to pay any liquidated damages specified in Clause 7.1 but the Customer shall settle all outstanding monies in the Service account. Upon such termination, all offers, rights and benefits incidental to the Service Plan subscribed bythe Customer shall cease immediately. 7.5 Upon termination of the Service, the Customer must return all equipment (if applicable) provided by the Company to SmarTone’s stores within fourteen (14) days. (Applicable to HomeFibre 500 & HomeFibre 1000) If the Customer requests the Company to collect the equipment from the Customer’s premises, the Company shall charge the Customer a collection fee of HK$300 or such amount as determined by the Company at its sole discretion. If the Customer does not return the equipment or the equipment is lost or damaged upon return, the Company will charge the Customer (i) HK$1,500 for Optical Network Terminal and/or (ii) HK$100 for Adaptor and/or (iii) HK$50 for Fibre Patch Cord; or (iv) HK$1,650 for full set of Optical Network Terminal, Adaptor and Fibre Patch Cord; or (v) such other charges at such rates as specified by the Company from time to time. Depending on resources availability, some Home Basic Broadband 100 need to use Fiber-to-the-home technology, these terms and conditions will ap...

Payments Upon Termination. In the event of any termination under Paragraph 5.01, Engineer will be entitled to invoice Owner and to receive full payment for all services performed or furnished in accordance with this Agreement, and to reimbursement of expenses incurred through the effective date of termination. Upon making such payment, Owner will have the limited right to the use of all deliverable documents, whether completed or under preparation, subject to the provisions of Paragraph 6.01.F, at Owner's sole risk. 1. If Owner has terminated the Agreement for cause and disputes Engineer's entitlement to compensation for services and reimbursement of expenses, then Engineer's entitlement to payment and Owner's rights to the use of the deliverable documents will be resolved in accordance with the dispute resolution provisions of this Agreement or as otherwise agreed in writing. 2. If Owner has terminated the Agreement for convenience, or if Engineer has terminated the Agreement for cause, then Engineer will be entitled, in addition to the payments identified above, to invoice Owner and receive payment of a reasonable amount for services and expenses directly attributable to termination, both before and after the effective date of termination, such as reassignment of personnel, costs of terminating contracts with Engineer's subcontractors or subconsultants, and other related close-out costs, using methods and rates for Additional Services as set forth in Paragraph 4.01.F.

Payments Upon Termination. If within two (2) years after a Change in Control of the Corporation, the Corporation or a Subsidiary shall terminate the Executive's employment other than by reason of the Executive's death, Disability, Retirement or for Cause or if the Executive shall terminate his employment for Good Reason then, in any such event, and subject in each case to Section 2(j) hereof, the Corporation or a Subsidiary will pay to the Executive as compensation for services rendered, beginning not later than the fifth business day following completion of the "Parachute Procedure" (as hereinafter defined) if the Corporation elects to follow such procedure and not later than the fifteenth day after the Date of Termination otherwise: (a) the Executive's Salary through the Date of Termination, any existing fringe benefits (including medical benefits) and incentive compensation for the fiscal year in which the termination occurs in accordance with any arrangements then existing with the Executive and proportionate to the period of the fiscal year which has expired prior to the termination; and (b) a lump sum severance payment equal to one (1) times the Executive's "Base Amount," as such term is defined in Section 280G of the Internal Revenue Code of 1986, as amended (the "Code") (subject to any applicable payroll or other taxes and changes required to be withheld computed at the rate for supplemental payments), provided that in no event shall "Total Payments" (as hereinafter defined) exceed 2.99 times the Executive's Base Amount. The Executive's Base Amount shall be determined in accordance with temporary or final regulations promulgated under Section 280G of the Code then in effect, if any. In the absence of such regulations, if the Executive were not employed by the Corporation (or any corporation or partnership affiliated with the Corporation (an "Affiliate") within the meaning of Section 1504 of the Code or a predecessor of the Corporation) during the entire five calendar years (the "Base Period") preceding the calendar year in which a Change in Control of the Corporation occurred, the Executive's average annual compensation for the purposes of such determination shall be the lesser of (i) the average of the Executive's annual compensation for the complete calendar years during the Base Period during which the Executive was so employed or (ii) the average of the Executive's annual compensation for both complete and partial calendar years during the Base Period during which the Ex...

Payments Upon Termination. In the event that the Executive’s employment with the Company is terminated for any reason, the Executive shall have the right to receive (i) the compensation and reimbursable expenses then accrued and/or earned and unpaid under Sections 4.1 and 5 of this Agreement through the date of termination, (ii) payment for unused vacation days accrued through the date of termination and (iii) any benefits required by the Consolidated Omnibus Budget Reconciliation Act of 1985.

Payments Upon Termination. (a) Except as otherwise provided in Section 6(e) and subsection (b) of this Section 7, upon termination of Executive’s employment by the Corporation, all compensation due Executive under this Agreement and under each plan or program of the Corporation in which he may be participating at the time shall cease to accrue as of the date of such termination (except, in the case of any such plan or program, if and to the extent otherwise provided in the terms of such plan or program), and all such compensation accrued as of the date of such termination but not previously paid shall be paid to Executive at the time such payment otherwise would be due. Unless otherwise expressly provided in the terms of the bonus plan or program of the Corporation in which the Executive is a participant at the time of his termination, if the termination of Executive’s employment is not for Cause, then a pro rata portion of the “target” full year’s bonus shall be deemed to have accrued for the Executive under such bonus plan or program for the portion of the year ended on the date of the termination, which shall be paid to the Executive at the time such bonus payment otherwise would be due. (b) If Executive’s employment pursuant to this Agreement is terminated without Cause pursuant to subsection (d) of Section 6 herein, then, in addition to the payments required by subsection (a) of this Section 7, Executive shall be entitled (i) to the vesting of all options previously granted but still subject to vesting and (ii) to the extent set forth in any agreement regarding the grant of rights related to shares of the Corporation’s common stock, the vesting (or termination of risk of forfeiture, as appropriate) of rights or shares previously granted but still subject to vesting. The Executive shall also receive, subject to the mitigation provisions of Section 11(a) below, for a period of twelve months (the “Severance Period”) cash severance payments (the Severance Payment”) from the Corporation. The amount of the Severance Payment shall be equal to the Executive’s then monthly Base Salary increased by a factor of twenty percent (20%) to account for the Executive’s loss of benefits. Executive shall have the right to purchase health and dental coverage under the Company’s group policies then in effect for the Severance Period. The Severance Payment shall be due and payable on the 20th day of each month and is subject to required withholding. The Executive shall also be entitled to the benefit...

Payments Upon Termination. Executive will be entitled to receive payment of the following: (i) all earned but unpaid compensation (including accrued unpaid vacation) through the effective date of termination, payable on or before the termination date; and (ii) reimbursement, made in accordance with Section 4(e) of the Employment Agreement, of any monies advanced or incurred by Executive in connection with his/her employment for reasonable and necessary Company-related expenses incurred on or before the Termination Date. The provisions of this Agreement shall not waive or terminate any rights to compensation or vested benefits under the Company’s benefits plans or as required by law, or to indemnification Executive may have under the Company’s Certificate of Incorporation, Bylaws or separate indemnification agreement, as applicable.

Payments Upon Termination. If required pursuant to Section 3(c) hereof, the Company will pay to the Employee as compensation for services rendered: (a) Not later than the 5th day after the Date of Termination, the Employee's Base Salary through the Date of Termination, the amount of any accrued but unused FTO or vacation time to which the employee is entitled through the Date of Termination, and any amounts to be paid to the Employee pursuant to any deferred compensation plan; and (b) If the Date of Termination is within twelve (12) months following a Change in Control, the Employee shall also receive the following: (i) no later than ten (10) days after such Date of Termination, a lump sum payment (minus withholdings and other required deductions) of an amount equal to three (3) times the Employee's Base Salary, plus thirty-six (36) times the amount to which the Employee was then entitled immediately prior to the Change in Control for the monthly automobile allowance; and (ii) no later than ten (10) days after such Date of Termination, an additional lump sum payment (minus with-holdings and other required deductions) of an amount equal to three (3) times the greater of (x) the bonus, if any, that was actually paid to the Employee for the year's results for the Company's fiscal year immediately preceding the year in which the Date of Termination occurs, (y) the percentage of maximum bonus otherwise payable for the full fiscal year in which the Date of Termination occurs assuming performance relative to plan for the entirety of such fiscal year was the same as performance relative to plan year to date as of the Date of Termination, or (z) the average bonus actually paid to the Employee for the five fiscal years immediately preceding the year in which the Date of Termination occurs (for the purpose of this Section 4(b)(ii), " bonus" shall include regular annual bonus payments, annual PIC bonus payments, annual super performance bonus payments and any other designated annual (as opposed to long-term) bonus payments); and (iii) commencing upon the Date of Termination: (1) All Other Benefits that were in effect and in which the Employee participated immediately prior to the Change in Control, for the period of the earlier to occur of thirty-six (36) months following the Date of Termination or the date the Employee becomes eligible for benefits from a subsequent employer. The provisions and conditions covering these Other Benefits, including but not limited to the amount of any contributio...

Payments Upon Termination. 1. In the event of any termination under paragraph 6.05, Engineer will be entitled to invoice Owner and to receive full payment for all services performed or furnished and all Reimbursable Expenses incurred through the effective date of termination. Upon making such payment, Owner shall have the limited right to the use of Documents, at Owner’s sole risk, subject to the provisions of paragraph 6.03.E.