Termination For Cause; Without Good Reason; Non-Renewal by Executive. Upon termination of Executive’s employment hereunder (x) by the Company for Cause or (y) by Executive without Good Reason, including due to Executive’s election not to renew the Employment Term, Executive shall be entitled to receive: (i) accrued, but unpaid Base Salary, earned through the date of termination; (ii) any Annual Bonus earned but unpaid as of the date of termination for any previously completed fiscal year; and (iii) reimbursement for any unreimbursed business expenses properly incurred by Executive in accordance with this Agreement prior to the date of Executive’s termination; and (iv) such Employee Benefits, if any, as to which Executive may be entitled pursuant to the terms governing such Employee Benefits; and (v) the right to exercise any vested Equity Awards in accordance with the terms set forth in any Long Term Incentive plan documents; (collectively, the “Accrued Rights”) and, following such termination of Executive’s employment and payment by the Company of the Accrued Rights, Executive shall have no further rights to any compensation or any other benefits under this Agreement, except as set forth under provisions of this Agreement under which future benefits may be provided, under any other agreements as referenced above in Sections 5 and 6 and any Long Term Incentive compensation program. Amounts payable under (i), (ii) and (iii) above shall be paid no later than March 15 of the calendar year immediately following the year of Executive’s termination of employment.
Appears in 17 contracts
Samples: Employment Agreement (PBF Energy Co LLC), Employment Agreement (PBF Holding Co LLC), Employment Agreement (PBF Energy Inc.)
Termination For Cause; Without Good Reason; Non-Renewal by Executive. Upon termination of Executive’s employment hereunder (x) by the Company for Cause or (y) by Executive without Good Reason, including due to Executive’s election not to renew the Employment Term, except as otherwise provided by applicable law, Executive shall be entitled to receive:
(i) accrued, but unpaid Base Salary, earned through the date of termination;
(ii) other than in connection with a termination by the Company for Cause, any Annual Bonus earned but unpaid as of the date of termination for any previously completed fiscal year; and
(iii) reimbursement for any unreimbursed business expenses properly incurred by Executive in accordance with this Agreement prior to the date of Executive’s termination; and
(iv) such Employee Benefits, if any, as to which Executive may be entitled pursuant to the terms governing such Employee Benefits; and
(v) the right to exercise any vested Equity Awards in accordance with the terms set forth in any Long Term Incentive plan documents; (collectively, the “Accrued Rights”) and, following such termination of Executive’s employment and payment by the Company of the Accrued Rights, Executive shall have no further rights to any compensation or any other benefits under this Agreement, except as set forth under provisions of this Agreement under which future benefits may be provided, under any other agreements as referenced above in Sections 5 and 6 and any Long Term Incentive compensation program. Amounts payable under (i), (ii) and (iii) above shall be paid no later than March 15 of the calendar year immediately following the year of Executive’s termination of employment.
Appears in 2 contracts
Samples: Employment Agreement (PBF Holding Co LLC), Employment Agreement (PBF Holding Co LLC)
Termination For Cause; Without Good Reason; Non-Renewal by Executive. Upon termination of Executive’s employment hereunder (x) by the Company for Cause or (y) by Executive without Good Reason, including due to Executive’s election not to renew the Employment Term, Executive shall be entitled to receive:
(i) accrued, but unpaid Base Salary, earned through the date of termination;
(ii) any Annual Bonus earned but unpaid as of the date of termination for any previously completed fiscal year; and
(iii) reimbursement for any unreimbursed business expenses properly incurred by Executive in accordance with this Agreement prior to the date of Executive’s termination; and
(iv) such Employee Benefits, if any, as to which Executive may be entitled pursuant to the terms governing such Employee Benefits; and
(v) the right to exercise any vested Equity Awards in accordance with the terms set forth in any Long Term Incentive plan documents; (collectively, the “Accrued Rights”) and, following such termination of Executive’s employment and payment by the Company of the Accrued Rights, Executive shall have no further rights to any compensation or any other benefits under this Agreement, except as set forth under provisions of this Agreement under which future benefits may be provided, under any other agreements as referenced above in Sections 5 and 6 and any Long Term Incentive compensation program. Amounts payable under (i), (ii) and (iii) above shall be paid no later than March 15 of the calendar year immediately following the year of Executive’s termination of employment.
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Termination For Cause; Without Good Reason; Non-Renewal by Executive. Upon termination of Executive’s employment hereunder (x) by the Company for Cause or (y) by Executive without Good ReasonReason prior to June 30, 2017, including due to Executive’s election not to renew the Employment TermTerm prior to June 30, 2017, Executive shall be entitled to receive:
(i) accrued, but unpaid Base Salary, earned through the date of termination;
(ii) any Annual Bonus earned but unpaid as of the date of termination for any previously completed fiscal year; and
(iii) reimbursement for any unreimbursed business expenses properly incurred by Executive in accordance with this Agreement prior to the date of Executive’s termination; and
(iv) such Employee Benefits, if any, as to which Executive may be entitled pursuant to the terms governing such Employee Benefits; and
(v) the right to exercise any vested Equity Awards in accordance with the terms set forth in any Long Term Incentive plan documents; (collectively, the “Accrued Rights”) and, following such termination of Executive’s employment and payment by the Company of the Accrued Rights, Executive shall have no further rights to any compensation or any other benefits under this Agreement, except as set forth under provisions of this Agreement under which future benefits may be provided, under any other agreements as referenced above in Sections 5 and 6 and any Long Term Incentive compensation program. Amounts payable under (i), (ii) and (iii) above shall be paid no later than March 15 of the calendar year immediately following the year of Executive’s termination of employment.
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