Severance Payments and Other Matters Related to Termination. (a) In the event of termination of the Executive’s employment by the Company other than for Cause or the Executive’s termination of employment for Good Reason, (i) the Executive shall be entitled to receive a lump sum cash severance amount equal to fifty (50%) percent of Executive’s then current annual salary (the “Severance Payments”), (ii) any earned but unpaid bonus payment, (iii) reimbursement of the health and dental care continuation premiums for Executive and Executive’s dependents incurred by Executive to effect continuation of health and dental insurance coverage for Executive and Executive’s dependents on the same basis as active employees, for a period of twelve (12) months from the date of such termination, to the extent that Executive is eligible for and elects continuation coverage under COBRA; and (iv) any accrued and unused vacation pay payable within twenty one (21) calendar days of the termination date (subject to required withholding). Any obligation of the Company to provide the Executive severance payments under this Section 5(a) is conditioned, however, upon the Executive signing a release of claims in the form provided by the Company and reasonably acceptable to Executive within twenty-one (21) days of the date on which the Executive gives or receives, as applicable, notice of termination of employment and upon the Executive’s not revoking the Employee Release thereafter. The Employee Release will also include a mutual release by the Company of any claims against the Executive.
(b) In the event of termination of the Executive’s employment by the Company for Cause or the Executive’s unilateral termination other than for Good Reason, the Company will pay the Executive any Base Salary earned but not paid through the date of termination, any earned but unpaid bonus, and pay for any vacation time accrued but not used to that date. The Company shall have no obligation to the Executive for bonus or severance payments.
(c) Except for any right the Executive may have under the federal law known as “COBRA” to continue participation in the Company’s group health and dental plans, and subject to Section 5(a)(iii) above, benefits shall terminate in accordance with the terms of the applicable benefit plans based on the date of termination of the Executive’s employment, without regard to any continuation of base salary or other payment to the Executive following termination.
(d) Provisions of this Agreement shall survive any termination if so provi...
Severance Payments and Other Matters Related to Termination. (a) Termination pursuant to Section 4(b), 4(c), or 4(e). Except as provided in Section 5(c) below, and subject to Section 5(f) and Section 5(g) below,
(i) in the event of termination of your employment by the Company other than for Cause pursuant to Section 4(b) of this Agreement, or in the event of termination of your employment by you for Good Reason pursuant to Section 4(c) of this Agreement, (A) the Company will continue to pay you your base salary, at the rate in effect on the date of termination, for the period of 12 months from the date of termination in accordance with the Company’s payroll policy then in effect; (B) all then unvested stock options held by you at such time that were granted on or prior to the Amendment Date shall vest as of the date of termination as to that number of shares that would have otherwise vested over the next nine months following such termination as a result of only the passage of time, notwithstanding any contrary provision in any agreement evidencing such stock options; and (C) if you are participating in the Company’s group health plan and/or dental plan at the time your employment terminates pursuant to Section 4(b) or 4(c) of this Agreement and you exercise your right to continue participation in those plans under the federal law known as COBRA, or any successor law (“COBRA”), the Company will pay or, at its option, reimburse you, on a monthly basis, for the full monthly premium cost of that participation for the 12 months following the date on which your employment with the Company terminates or, if earlier, until the date you become eligible to enroll in the health (and/or, if applicable, dental) plan of a new employer;
(ii) in the event of your termination of employment as a result of your death or a termination of your employment by the Company due to your disability at any time pursuant to Section 4(e) of this Agreement, all then unvested stock options held by you at such time that were granted on or prior to the Amendment Date, if any, will vest as of the date of termination, which in the case of death shall be the date of death, and, in the event your employment is terminated by the Company due to your disability, to the extent the Company’s benefits do not include disability insurance benefits that will continue your base salary at 100% of the amount of such base salary for the period of one year from the date of termination, for such period the Company shall pay to you, at the time that your base salary w...
Severance Payments and Other Matters Related to Termination. Subject to the provisions hereof:
(a) In the event of termination of the Executive’s employment pursuant to Section 4 of this Agreement:
(i) the Company shall pay the Executive within 30 days following the date of termination of employment any base salary earned in accordance with the provisions of this Agreement but not paid through the date of termination and any vacation time accrued but not used to that date, and any business expenses incurred by the Executive but un-reimbursed on the date of termination, provided that such expenses and required substantiation and documentation are submitted within sixty (60) days following the date of termination and that such expenses are reimbursed as set forth in Section 12(e) of this Agreement; and
(ii) the Company shall pay the Executive within 30 days following the date of termination of employment any bonus which has been earned and specifically awarded to the Executive in accordance with the provisions of this Agreement, but not yet been paid to Executive, as of the date of termination of employment. Notwithstanding the foregoing, the payments referred to in clauses (i) and (ii) of this Section 5(a) shall be paid in accordance with the time periods, if any, required by applicable law.
(b) In the event of termination of the Executive’s employment by the Company pursuant to Section 4(b) of this Agreement, or in the event of termination of the Executive’s employment by the Executive pursuant to Section 4(c) of this Agreement, then in addition to the benefits described in Section 5(a) of this Agreement:
(i) the Company shall pay the Executive up to one hundred percent (100%) of Executive’s then current base salary on an annualized basis as of the date of termination (the “Severance Payment”); provided, that in the event the Executive commences any employment substantially similar to Executive’s employment hereunder (based upon responsibility, reporting and compensation) during the Severance Period (as defined below), Executive will notify the Company, and any remaining portion of the Severance Payment will cease to be payable on the date 60 days after commencement of such new employment. The Executive agrees to give prompt notice to the Company of the date of commencement of any new employment during the Severance Period and will respond promptly to any reasonable inquiries concerning any employment of the Executive during the Severance Period. The Severance Payment shall be made to the Executive in installments i...
Severance Payments and Other Matters Related to Termination. (a) Termination pursuant to Section 4(b), 4(c) or 4(e). Except as provided in Section 5(c) below,
(i) in the event of termination of your employment following the Effective Date by the Company other than for Cause pursuant to Section 4(a) of this Agreement, or in the event of termination of your employment following the Effective Date by you for Good Reason pursuant to Section 4(c) of this Agreement, the Employment Option shall vest as of the date of termination (notwithstanding anything to the contrary in Section 2(c) of this Agreement) with respect to an additional one year of vesting and the Company will (i) continue to pay you your base salary, at the rate in effect on the date of termination, for the period of nine (9) months from the date of termination and (ii) pay a pro-rata portion (for the period from January 1 of the year of termination through the date of termination) of the cash bonus paid to you in the previous year, if any; or
(ii) in the event of your termination of employment as a result of your death or disability at any time pursuant to Section 4(e) of this Agreement, the Employment Option shall vest as of the date of termination, which in the case of death shall be the date of death (notwithstanding anything to the contrary in Section 2(c) of this Agreement), with respect to an additional one year of vesting, and, to the extent the Company's benefits do not include disability insurance benefits that will (i) continue your base salary at 100% of the amount of such base salary for the period of nine (9) months from the date of termination and (ii) pay a pro-rata portion (for the period from January 1 of the year of termination through the date of termination) of the cash bonus paid to you in the previous year, if any, the Company shall pay such amount at the time that your base salary would be otherwise paid during such nine (9) months from the date of termination as shall equal the amount by which (i) 100% of your base salary plus (ii) the pro rata portion of the cash bonus paid to you in the year prior to such termination, if any, exceeds the disability insurance benefits, if any, actually paid to you. If you are participating in the Company's group health plan and/or dental plan at the time your employment terminates (whether such termination is as described in (i) or (ii) above), and you exercise your right to continue participation in those plans under the federal law known as COBRA, or any successor law, the Company will pay or, at ...
Severance Payments and Other Matters Related to Termination. (a) Severance Payments, if any, are provided as set forth in Exhibit B.
(b) In the event of termination for any reason the Company will also pay Executive, on the next regularly scheduled pay date following the date of termination, any Base Salary earned but not paid through the date of termination.
(c) In the event of termination of employment by the Company for Cause or as a result of Executive’s resignation (for any reason or for no reason), death or Disability, or upon the expiration of the Term, the Company will pay Executive any Base Salary earned but not paid through the date of termination or expiration. The Company shall have no further obligations to Executive other than any compensation incentive due under the Cash Incentive Program, provided that Executive was employed on the last date of the fiscal year, which shall not fall within any notice period under Section 3(c), 3(d) or 3(e) of the Agreement.
(d) While receiving Severance Payments, the Executive shall be entitled to continue to participate in all Company employee benefit plans in which the Executive participated immediately prior to the termination of employment at the same cost to the Executive as such benefits were provided prior to such termination (or the Company will procure and pay for comparable benefits during such time period).
(e) The obligation of the Company to make payments to Executive under Exhibit B is expressly conditioned upon Executive’s continued full performance of obligations under Section 9 hereof.
Severance Payments and Other Matters Related to Termination. (a) Severance Payment (as described herein), if any, is provided as set forth in Exhibit B.
(b) In the event of termination for any reason the Company will pay Executive, on the next regularly scheduled pay date following the date of termination, any Base Salary earned but not paid through the date of termination.
(c) In the event of termination of employment by the Company for Cause or as a result of Executive’s resignation (pursuant to Section 3(d) herein), or upon the expiration of the Term, the Company will pay Executive any Base Salary earned but not paid through the date of termination or expiration, and any unvested restricted stock award(s) and any unvested performance stock award(s) shall terminate in accordance with the terms of the respective restricted stock agreement(s). The Company shall have no further obligations to Executive as to any other compensation.
(d) In the event of termination of employment as a result of Executive’s death or Disability, the Company will pay Executive any Base Salary earned but not paid through the date of termination, and the restrictions on any unvested restricted stock award(s) and any unvested performance stock award(s) shall terminate in accordance with the terms of the respective stock agreement(s).
(e) The obligation of the Company to make payments to Executive under Exhibit B is expressly conditioned upon Executive’s continued full performance of obligations under Section 9 hereof.
(f) Any termination of Executive’s employment (or any termination or expiration of this Agreement) for any reason shall, if requested by the Company, require that Executive resign all other positions the Executive may then be holding with the Company.
Severance Payments and Other Matters Related to Termination a. Other than for Cause or with Good Reason. In the event of termination of your employment by SupplierMarket other than for Cause or your termination of your employment for Good Reason in accordance with Section 4b, SupplierMarket will continue to pay you your base salary until the conclusion of a period of 12 months following the date of termination. SupplierMarket will also pay you on the date of termination any base salary earned but not paid through the date of termination and pay for any vacation time accrued but not used to that date. In addition, SupplierMarket will pay you any bonus to which you are entitled in accordance with Section 2b above, prorated to the date of termination and payable at the time such bonuses are payable to Company executives generally. In addition, you will receive 12 month's of accelerated vesting (i) in accordance with the Amended Stock Restriction Agreement, of any shares of restricted stock that do not constitute, as of the date of termination, "Vested Shares" as defined in the Amended Stock Restriction Agreement and (ii) of any unvested stock options granted to you by SupplierMarket after the date hereof.
Severance Payments and Other Matters Related to Termination. (a) Termination pursuant to Section 4(b) or 4(c). Except as provided in Section 5(c) below, in the event of termination of the Executive’s employment either by the Company other
i. The Company shall pay, in either case in accordance with the Company’s payroll practice then in effect, beginning on the Payment Commencement Date: (i) if such termination occurs following the Executive’s relocation to Massachusetts, the Executive’s then-current annual base salary for a period of nine (9) months or (ii) if such termination occurs prior to Executive’s relocation to Massachusetts, the Executive’s then-current annual base salary for a period of one (1) month for each full month that has elapsed between the Effective Date and the date of termination, up to a maxium of nine (9) months (such payment period under (i) or (ii), the "Severance Period”).
iii. If the Executive is participating in the Company’s group health plan and/or dental plan at the time the Executive’s employment terminates, and the Executive exercises her right to continue participation in those plans under the federal law known as COBRA, or any successor law, the Company will pay the Executive a monthly cash amount equal to the full premium cost of that participation (the “Benefits Payment”) for the duration of the Severance Period or, if earlier, until the date the Executive becomes eligible to enroll in the health (or, if applicable, dental) plan of a new employer, payable in accordance with regular payroll practices for benefits beginning on the Payment Commencement Date.
Severance Payments and Other Matters Related to Termination. (a) Termination pursuant to Section 4(b) or 4(c). Except as provided in Section 5(c) below, in the event of termination of the Executive’s employment either by the Company other than for Cause pursuant to Section 4(b) of this Agreement or by the Executive for Good Reason pursuant to Section 4(c) of this Agreement, or as a result of the Company’s delivery of a notice of non-renewal in accordance with Section 1(a) of this Agreement:
i. The Company shall pay the Executive’s then-current annual base salary for a period of twelve (12) months in accordance with the Company’s payroll practice then in effect, beginning on the Payment Commencement Date.
iii. If the Executive is participating in the Company’s group health plan and/or dental plan at the time the Executive’s employment terminates, and the Executive exercises his right to continue participation in those plans under the federal law known as COBRA, or any successor law, the Company will pay the Executive a monthly cash amount equal to the full premium cost of that participation (the “Benefits Payment”) for twelve (12) months following the date on which the Executive’s employment with the Company terminates or, if earlier, until the date the Executive becomes eligible to enroll in the health (or, if applicable, dental) plan of a new employer, payable in accordance with regular payroll practices for benefits beginning on the Payment Commencement Date.
Severance Payments and Other Matters Related to Termination a. OTHER THAN FOR CAUSE OR WITH GOOD REASON. In the event of termination of your employment by SupplierMarket other than for Cause or your termination of your employment for Good Reason in accordance with Section 4b, SupplierMarket will continue to pay you your base salary until the conclusion of a period of 12 months following the date of termination. SupplierMarket will also pay you on the date of termination any base salary earned but not paid through the date of termination and pay for any vacation time accrued but not used to that date. In addition, SupplierMarket will pay you any bonus to which you are entitled in accordance with Section 2b above, prorated to the date of termination and payable at the time such bonuses are payable to Company executives generally. In addition, you will receive 12 month's of accelerated vesting (i) in accordance with the Amended Stock Restriction Agreement, of any shares of restricted stock that do not constitute, as of the date of
