Termination Other Than an Involuntary Termination. (a) Except as provided in Section 5.1(b), if Executive’s employment hereunder shall terminate upon expiration of the Term because either party has provided the notice contemplated in Section 3.1 or for any other reason except those described in Section 5.2 and Section 5.3, then all compensation and all benefits to Executive under this Agreement shall continue to be provided until the date of such termination of employment, and such compensation and benefits shall terminate contemporaneously with such termination of employment. (b) If Executive shall die or the Company shall have delivered a Disability Notice, then all compensation and all benefits to Executive under this Agreement shall continue to be provided until the date of such death or the date on which the Disability Notice is delivered; provided, however, that (i) the award of Restricted Units made pursuant to the Inducement Award Agreement and all awards under the Omnibus Incentive Plan (including the award made pursuant to the 2009 LTI Grant Agreement) shall immediately accelerate, if then unvested, and vest in Executive or the legal representative of his estate and the Company shall pay to Executive of the legal representative of his estate any part of the Inducement Cash Bonus not already paid to Executive; and (ii) for the year in which Executive’s death or the Company’s delivery of a Disability Notice, as applicable, occurs, the Company shall pay to Executive or the legal representative of his estate the applicable Target-Level Bonus, pro rated for the number of days elapsed in such year at the time of such death or delivery, as applicable.
Appears in 11 contracts
Samples: Employment Agreement (Constellation Energy Partners LLC), Employment Agreement (Constellation Energy Partners LLC), Employment Agreement (Constellation Energy Partners LLC)
Termination Other Than an Involuntary Termination. (ai) Except as provided in Section 5.1(b5(a)(ii), if Executive’s employment hereunder shall terminate upon expiration of the Term because either party has provided the notice contemplated in Section 3.1 3(a) or for any other reason except those described in Section 5.2 5(b) and Section 5.35(c), then all compensation and all benefits to Executive under this Agreement shall continue to be provided until the date of such termination of employment, and such compensation and benefits shall terminate contemporaneously with such termination of employment.
(bii) If Executive shall die or the Company shall have delivered a Disability Notice, then all compensation and all benefits to Executive under this Agreement shall continue to be provided until the date of such death or the date on which the Disability Notice is delivered; provided, however, that (iA) the award of Restricted Units made pursuant to the Inducement Award Agreement and all awards under the Omnibus Incentive Plan (including the award made pursuant to the 2009 LTI Grant Agreement) shall immediately accelerate, if then unvested, and vest in Executive or the legal representative of his estate and the Company shall pay to Executive of the legal representative of his estate any part of the Inducement Cash Bonus not already paid to Executiveestate; and (iiB) for the year in which Executive’s death or the Company’s delivery of a Disability Notice, as applicable, occurs, the Company shall pay in cash, within sixty (60) days after the date of such death or delivery of such Disability Notice, to Executive or the legal representative of his estate the applicable Target-Level Bonus, pro rated for the number of days elapsed in such year at the time of such death or delivery, as applicable.
Appears in 3 contracts
Samples: Employment Agreement (Constellation Energy Partners LLC), Employment Agreement (Constellation Energy Partners LLC), Employment Agreement (Constellation Energy Partners LLC)
Termination Other Than an Involuntary Termination. (a) Except as provided in Section 5.1(b), if Executive’s employment hereunder shall terminate upon expiration of the Term because either party has provided the notice contemplated in Section 3.1 or for any other reason except those described in Section 5.2 and Section 5.3, then all compensation and all benefits to Executive under this Agreement shall continue to be provided until the date of such termination of employment, and such compensation and benefits shall terminate contemporaneously with such termination of employment.
(b) If Executive shall die or the Company shall have delivered a Disability Notice, then all compensation and all benefits to Executive under this Agreement shall continue to be provided until the date of such death or the date on which the Disability Notice is delivered; provided, however, that (i) the award of Restricted Units made pursuant to the Inducement Award Agreement and all awards under the Omnibus Incentive Plan (including the award made pursuant to the 2009 LTI Grant Agreement) shall immediately accelerate, if then unvested, and vest in Executive or the legal representative of his estate and the Company shall pay to Executive of the legal representative of his estate any part of the Inducement Cash Bonus not already paid to Executiveher estate; and (ii) for the year in which Executive’s death or the Company’s delivery of a Disability Notice, as applicable, occurs, the Company shall pay in cash, within sixty (60) days after the date of such death or delivery of such Disability Notice, to Executive or the legal representative of his her estate the applicable Target-Level Bonus, pro pro-rated for the number of days elapsed in such year at the time of such death or delivery, as applicable.
Appears in 1 contract
Samples: Employment Agreement (Constellation Energy Partners LLC)
Termination Other Than an Involuntary Termination. (ai) Except as provided in Section 5.1(b5(a)(ii), if Executive’s employment hereunder shall terminate upon expiration of the Term because either party has provided the notice contemplated in Section 3.1 3(a) or for any other reason except those described in Section 5.2 (b) and Section 5.35(c), then all compensation and all benefits to Executive under this Agreement shall continue to be provided until the date of such termination of employment, and such compensation and benefits shall terminate contemporaneously with such termination of employment.
(bii) If Executive shall die or the Company shall have delivered a Disability Notice, then all compensation and all benefits to Executive under this Agreement shall continue to be provided until the date of such death or the date on which the Disability Notice is delivered; provided, however, that (iA) the award of Restricted Units made pursuant to the Inducement Award Agreement and all awards under the Omnibus Incentive Plan (including the award made pursuant to the 2009 LTI Grant Agreement) shall immediately accelerate, if then unvested, and vest in Executive or the legal representative of his estate and the Company shall pay to Executive of the legal representative of his estate any part of the Inducement Cash Bonus not already paid to Executiveestate; and (iiB) for the year in which Executive’s death or the Company’s delivery of a Disability Notice, as applicable, occurs, the Company shall pay in cash, within sixty (60) days after the date of such death or delivery of such Disability Notice, to Executive or the legal representative of his estate the applicable Target-Level Bonus, pro rated for the number of days elapsed in such year at the time of such death or delivery, as applicable.
Appears in 1 contract
Samples: Employment Agreement (Constellation Energy Partners LLC)