Receipt of Other Compensation. Executive acknowledges and agrees that, other than as specifically set forth in the Change in Control Agreement or this Agreement, following the Termination Date, Executive is not and will not be due any compensation, including, but not limited to, compensation for unpaid salary (except for amounts unpaid and owing for Executive’s employment with Company, its subsidiaries or affiliates prior to the Termination Date), unpaid bonus, severance and accrued or unused vacation time or vacation pay from the Company or any of its subsidiaries or affiliates. Except as provided herein or in the Change in Control Agreement, Executive will not be eligible to participate in any of the benefit plans of the Company after Executive’s Termination Date. However, Executive will be entitled to receive benefits which are vested and accrued prior to the Termination Date pursuant to the employee benefit plans of the Company. Any participation by Executive (if any) in any of the compensation or benefit plans of the Company as of and after the Termination Date shall be subject to and determined in accordance with the terms and conditions of such plans, except as otherwise expressly set forth in the Change in Control Agreement or this Agreement.
Receipt of Other Compensation. Executive acknowledges and agrees that, other than as specifically set forth in this Agreement, following the Retirement Date, he is not and will not be due any compensation, including, but not limited to, compensation for unpaid salary (except for amounts unpaid and owing for Executive's employment with the Company and its affiliates prior to the Retirement Date), unpaid bonus, severance and accrued or unused vacation time or vacation pay from the Company or any of its affiliates, and as of and after the Retirement Date, and except as provided herein, he will not be eligible to participate, except as a retired employee, in any of the compensation or benefit plans of the Company or any of its affiliates, including, without limitation, the Company's Retirement Savings Plan ("RSP"), Company's Retirement Savings Excess Benefit Plan ("Excess Benefit Plan"), stock purchase plan, travel accident insurance, personal accident insurance, accidental death and dismemberment insurance and short-term and long-term disability insurance. Executive will be entitled to receive benefits, which are vested and accrued prior to the Retirement Date, pursuant to the employee benefit plans of the Company. The Company shall promptly reimburse Executive for business expenses incurred in the ordinary course of Executive's employment on or before the Retirement Date, but not previously reimbursed, provided the Company's policies of documentation and approval are satisfied.
Receipt of Other Compensation. Executive acknowledges and agrees that, other than as specifically set forth in this Agreement, following the Date of Termination, Executive is not and will not be due any compensation, including, but not limited to, compensation for unpaid salary (except for amounts unpaid and owing for Executive’s employment with the Employer, its operating divisions or its affiliates prior to the Date of Termination), unpaid bonus, severance and accrued or unused vacation time or vacation pay from the Employer or any of its operating divisions or affiliates. Except as provided herein, Executive will not be eligible to participate in any of the benefit plans of the Employer after Executive’s Date of Termination. However, Executive will be entitled to receive benefits that are vested and accrued prior to the Date of Termination pursuant to the employee benefit plans of the Employer. Any participation by Executive in any of the compensation or benefit plans of the Employer or any of its operating divisions or affiliates as of and after the Date of Termination shall be subject to and determined in accordance with the terms and conditions of such plans, except as otherwise expressly set forth in this Agreement. The Employer shall promptly reimburse Executive for business expenses incurred in the ordinary course of Executive’s employment on or before the Date of Termination, but not previously reimbursed, provided the Employer’s policies of documentation and approval are satisfied.
Receipt of Other Compensation. The Executive acknowledges and agrees that, other than as specifically set forth in this Agreement, following the Separation Date, the Executive is not and will not be due any compensation, including, but not limited to, compensation for unpaid salary (except for amounts unpaid and owing for the Executive’s employment with the Company prior to the Separation Date), unpaid bonus, severance and accrued or unused vacation time or vacation pay from the Company or any of its operating divisions, subsidiaries or affiliates. Except as provided herein, the Executive will not be eligible to participate in any of the benefit plans of the Company after the Separation Date. However, the Executive will be entitled to receive benefits which are vested and accrued prior to the Separation Date pursuant to the employee benefit plans of the Company. Participation by the Executive in any of the compensation or benefit plans of the Company as of and after the Separation Date shall be subject to and determined in accordance with the terms and conditions of such plans, except as otherwise expressly set forth in this Agreement. The Company shall promptly reimburse the Executive for business expenses incurred in the ordinary course of the Executive’s employment on or before the Separation Date, but not previously reimbursed, provided the Company’s policies of documentation and approval are satisfied. Any such reimbursement shall be paid within 60 days of the Separation Date.
Receipt of Other Compensation. Executive acknowledges and agrees that, other than as specifically set forth in this Agreement, including without limitation the provisions of the Employment Agreement set forth herein, Executive is not and will not be due any compensation, including, but not limited to, compensation for unpaid salary (except for amounts unpaid and owing for Executive's employment with the Company and its affiliates prior to the Separation Date), severance and unused vacation time or vacation pay from the Company or any of its affiliates, except for amounts unpaid but accrued in accordance with Section 7(a) of the Employment Agreement, and as of and after the Separation Date, except as provided herein and as set forth in accordance with Section 7, 8 or 13 of the Employment Agreement, Executive will not be eligible to participate in any of the benefit plans of the Company or any of its affiliates, including, without limitation, the Company's Savings and Profit Sharing Plan, travel accident insurance, personal accident insurance, accidental death and dismemberment insurance and short-term and long-term disability insurance. Executive will be entitled to receive benefits, which are vested and accrued prior to the Separation Date pursuant to the employee benefit plans of the Company. The Company shall promptly reimburse Executive for business expenses incurred in the ordinary course of Executive's employment on or before the Separation Date, but not previously reimbursed, provided the Company's policies of documentation and approval are satisfied.
Receipt of Other Compensation. Executive acknowledges and agrees that, other than as specifically set forth in this Agreement and notwithstanding any provisions of the Employment Agreement, or any other agreement, understanding or Company policy or plan, he is not and will not be due any compensation or amounts or benefits, including, but not limited to, compensation for unpaid salary, unpaid bonus, severance and accrued or unused vacation time or vacation pay from the Company and its related and affiliated entities, except as stated in this Agreement. As of and after the Separation Date, Executive will not be eligible to participate in any of the health benefit plans of the Company, except as stated in Section 7. The Company shall promptly reimburse Executive for business expenses reasonably incurred in the ordinary course of Executive’s employment on or before July 30, 2004, but not previously reimbursed; provided the Company’s policies of documentation and approval are satisfied.
Receipt of Other Compensation. Executive acknowledges and agrees that, other than as specifically set forth in the Outstanding Equity Awards, following the Retirement Date, Executive is not and will not be due any compensation, including, but not limited to, compensation for unpaid salary (except for amounts unpaid and owing for Executive’s employment with the Company, its subsidiaries or affiliates prior to the Retirement Date), unpaid bonus, severance and accrued or unused vacation time or vacation pay from the Company or any of its subsidiaries or affiliates. Executive will not be eligible to earn or accrue additional benefits under the benefit plans of the Company after Executive’s Retirement Date. However, Executive will be entitled to receive benefits which are vested and accrued prior to the Retirement Date pursuant to the employee benefit plans of the Company. Participation by Executive (if any) in any of the compensation or benefit plans of the Company as of and after the Retirement Date shall be subject to and determined in accordance with the terms and conditions of such plans as they may be amended from time to time. For the avoidance of doubt, Executive will retain any rights to retiree medical insurance in accordance with the Company’s plans, also as they may be amended from time to time. Notwithstanding the foregoing, nothing in this paragraph 2 is intended to affect any compensation or benefits to which Executive is entitled or may become entitled in the future in his role as a Director.
Receipt of Other Compensation. The Company acknowledges and agrees that nothing in this Agreement terminates its obligation to (i) pay to the Executive, in accordance with the terms thereof, amounts deferred by the Executive under the AJG Financial Services, Inc. Bonus Deferral Plan (the "Bonus Deferral Plan") or amounts declared and assigned to the Executive under the Bonus Plan for years prior to 2002 not yet paid to the Executive as a result of the three-year term of payment under such plan or (ii) forgive repayment, in accordance with the terms of the Promissory Note dated March 15, 2001, of the principal amount plus interest of the loan by the Company to the Executive in the amount of $2,382,900. In the event of the Executive's death prior to his receipt of any amount payable to the Executive under the Bonus Deferral Plan or the Bonus Plan, such amount shall be paid, in accordance with the terms thereof, to the Executive's Beneficiary (as defined in Section 6(d)(2) hereof), notwithstanding any provision within the Bonus Deferral Plan or the Bonus Plan designating a beneficiary other than the Executive's Beneficiary. The Executive acknowledges and agrees that (i) Sections 3, 4 and 5 of this Agreement set forth the sole and exclusive payments and employee benefits due to the Executive in connection with his services to the Company and its affiliates during the Employment Period; (ii) except as otherwise expressly provided in Section 6 of this Agreement, at the termination of the Employment Period the Executive will not be entitled to any severance, separation or similar payments from the Company or any of its affiliates and (iii) the payments to the Executive pursuant to this Agreement will satisfy in full any and all of the Company's obligations to the Executive under the Bonus Plan and under any agreements between the Company and the Executive in connection with the Bonus Plan.
Receipt of Other Compensation. Executive acknowledges and agrees that, other than as specifically set forth in this Agreement, following the Separation Date, Executive is not and will not be due any compensation, including, but not limited to, compensation for unpaid salary (except for amounts unpaid and owing for Executive’s employment with the Corporation prior to the Separation Date), unpaid bonus, or severance from the Corporation under the terms of the Employment Agreement, any plan or policy of the Corporation or otherwise. Executive will, however, be entitled to receive benefits which are vested and accrued prior to the Separation Date pursuant to the employee benefit plans of the Corporation in which Executive participates including any accrued but unused vacation. Participation by the Executive (if any) in any of the compensation or benefit plans of the Corporation as of and after the Separation Date shall be subject to and determined in accordance with the terms and conditions of such plans. The Corporation shall promptly reimburse Executive for business expenses incurred in the ordinary course of Executive’s employment on or before the Separation Date, but not previously reimbursed, provided the Corporation's policies of documentation and approval are satisfied.
Receipt of Other Compensation. Executive acknowledges and agrees that, other than as specifically set forth in this Agreement, following the Retirement Date, he is not and will not be due any compensation, including, but not limited to, compensation for unpaid salary (except for amounts unpaid and owing for Executive’s employment with the Company and its affiliates prior to the Retirement Date), unpaid bonus, severance and accrued or unused vacation time or vacation pay (it being understood that Executive will take any remaining vacation or leave days prior to the Retirement Date), and as of and after the Retirement Date, except as provided herein, he will not be eligible to participate in any of the compensation or benefit plans of the Company or any of its affiliates, including, without limitation, the Company’s pension plans, Employee Stock Ownership Plan (“ESOP”), 401(k) Supplemental Savings Plan, stock purchase plan, travel accident insurance, personal accident insurance, accidental death and dismemberment insurance and short-term and long-term disability insurance. Executive will be entitled to receive benefits, which are vested and accrued prior to June 30, 2006, pursuant to the employee benefit plans of the Company, including the Sxxx Xxx/DE pension plan and the Sxxx Xxx/DE Belgium pension plan. The Company shall promptly reimburse Executive for business expenses incurred in the ordinary course of Executive’s employment on or before the Retirement Date, but not previously reimbursed, provided the Company’s policies of documentation and approval are satisfied.
