Termination Date Payment. Upon termination of Executive’s employment for any reason, the Company shall pay Executive all accrued but unpaid Base Salary and bonus compensation, and all accrued but unused PTO earned through the Termination Date, less required and designated payroll withholdings and deductions. Executive shall also be reimbursed for all business expenses incurred through and including the Termination Date pursuant to the terms of Section 3.1 above, provided Executive submits such expenses for reimbursement no later than thirty (30) days after the Termination Date. Except as expressly provided herein, Executive shall not be entitled to receive any other compensation or benefits from the Company after the Termination Date, with the exception of any vested right Executive has under the express terms of a written ERISA-qualified benefit plan (e.g., 401(k) account).
Termination Date Payment. In addition to your Base Salary, Annual Retention Bonus and Annual Performance Bonus, you will be entitled to receive a one-time payment of $32,000 (the “Termination Date Payment”) upon the earlier of (i) the termination of the Employment Period on July 31, 2012, provided that you are employed by the Company on such date, and (ii) the date of termination of your employment with the Company (other than on July 31, 2012), other than (A) a termination of employment by the Company for Cause (as defined below), (B) a termination of employment as a result of your death or (C) a termination of employment by you for any reason other than a Change in Status (as defined below). Any Termination Date Payment to which you become entitled pursuant to the preceding sentence shall be paid to you as follows: (i) if you become entitled to the Termination Date Payment pursuant to clause (i) of the preceding sentence, then the Termination Date Payment shall be paid to you on July 31, 2012; or (ii) if you become entitled to the Termination Date Payment pursuant to clause (ii) of the preceding sentence, then the Termination Date Payment shall be paid to you on the first business day that is six months after the day of your termination of employment or, if earlier, on the first business day after the day of your death.
Termination Date Payment. As of the Termination Date, you will cease to be employed by the Company in any capacity. On the Termination Date, the Company will pay you all accrued salary earned through the Termination Date, subject to standard payroll deductions and withholdings. However, the Company will pay you for all accrued and unused Paid Time Off (“PTO”) on the Transition Date. You are entitled to payment for all accrued salary, and all accrued and unused PTO, regardless of whether you sign this Agreement.
Termination Date Payment. Upon termination of Executive’s employment for any reason, the Company shall pay Executive all accrued but unpaid Base Salary and bonus compensation, and all accrued but unused PTO earned through the Termination Date, less required and designated payroll withholdings and deductions. For purposes of clarity, all of the foregoing amounts will be paid on Executive’s termination date. Executive shall also be reimbursed for all business expenses incurred through and including the Termination Date pursuant to the terms of Section 3.1 above, provided Executive submits such expenses for reimbursement no later than thirty (30) days after the Termination Date. Except as expressly provided herein, Executive shall not be entitled to receive any other compensation or benefits from the Company after the Termination Date, with the exception of any vested right Executive has under the express terms of a written ERISA-qualified benefit plan (e.g., 401(k) account).
Termination Date Payment. Borrower hereby unconditionally promises to pay to Lender the full amount of the Obligations, including all outstanding principal and accrued interest under the Note, on the Termination Date.
