Termination Pay and Benefits. Employees who resign or are terminated shall be paid in accordance with state and federal law. The Borough shall advise all Employees at the time of exit processing of the possible continuation of all benefits to which they may be entitled (e.g. PERS, health/life insurance, etc.). Employees are required to surrender all I.D. cards, equipment, uniforms, keys, and other Borough property on their last day of work.
Termination Pay and Benefits. If Executive’s employment hereunder is terminated by Cash America for Just Cause, Cash America will be required to pay to Executive only (A) Executive’s Annual Base Salary earned through the date of termination, (B) all bonuses earned and vested under Section 4(b) on or before the date of termination, and (C) to the extent provided under the terms of any benefit plan or this Agreement, the vested portion of any benefit under such plan or this Agreement earned through the date of termination. Executive’s right to exercise stock options and Executive’s rights in other equity arrangements, if any, will remain governed by the terms and conditions of the appropriate equity plan and the underlying award agreements.
Termination Pay and Benefits. Employees who are terminated by the MOA, shall be paid all wages and benefits due no later than three (3) business days after their termination date. Article
Termination Pay and Benefits. If Executive’s employment hereunder is terminated due to Executive’s death or disability (as described in this subsection), Cash America will pay to Executive only (A) Executive’s Annual Base Salary earned through the date of termination, (B) all bonuses earned and vested under Section 4(b) on or before the date of termination, (C) to the extent provided under the terms of any benefit plan or this Agreement, the vested portion of any benefit under such plan or this Agreement earned through the date of termination, and (D) the amounts provided in Section 4(e) or 4(f), as applicable. Executive’s right to exercise stock options and Executive’s rights in other equity arrangements, if any, will remain governed by the terms and conditions of the appropriate equity plan and the underlying award agreements.
Termination Pay and Benefits. If Cash America (x) terminates Executive’s employment hereunder without Just Cause before the end of the Term, or (y) does not extend the Term (whether following the Initial Term or any successive Contract Year that is part of the Term), Executive will be entitled to receive the following compensation and benefits:
(A) An amount equal to the total of (i) the amount of Executive’s Annual Base Salary (at the rate of Annual Base Salary in effect immediately before Executive’s termination of employment or, if earlier, the occurrence of any event that could have been a Good Reason event) for the remainder (if any) of the Contract Year during which Executive’s termination is effective, and (ii) an amount equal to 7/36ths of Executive’s Continued Compensation. Such total amount will be payable to Executive in a lump sum on the first day of the 7th full calendar month immediately following the date of Executive’s Separation from Service;
(B) An amount equal to 29/36ths of Executive’s Continued Compensation, with such amount to be payable on a prorata basis over a 29 month period beginning on the first day of the 8th full calendar month immediately following the date of Executive’s Separation from Service, with such prorata payments to be made at the frequency and timing applicable from time to time under Cash America’s standard payroll practices and policies for salary payments to active senior executive officers;
(C) If Executive and or his dependents who are qualified beneficiaries under COBRA elect to continue health coverage (i.e., medical, dental and vision benefits) under Cash America’s group health plan pursuant to the continuation provisions of COBRA, then, during the first 18 months of his severance period while such coverage is in effect, Cash America will reimburse Executive for the portion of the premium for group health plan coverage that he pays and that is in excess of what similarly-situated executives would pay for similar coverage under Cash America’s group health plan during that period. In addition, to the extent Executive and his dependents who are qualified beneficiaries would be entitled to COBRA during the last 18 months of his 36-month severance period if COBRA lasted 36 months (instead of 18 months), then Cash America will allow Executive and his dependents who are qualified beneficiaries to continue group health plan coverage under Cash America’s group health plan pursuant to the same rules and terms as would apply if COBRA had continued...
Termination Pay and Benefits. In consideration of the waiver and release of claims set forth below, the Company shall provide you with the following severance payments and benefits:
Termination Pay and Benefits. If Cash America (x) terminates Executive’s employment hereunder without Just Cause before the end of the Term, or
Termination Pay and Benefits. In consideration of the waiver and release of claims set forth below, the Company shall provide you with the following severance payments and benefits:
(a) a lump sum payment equal to one and one-half times the sum of your current annual base salary as of the date of termination plus the average of the Annual Bonus paid to you for the two years immediately preceding the year of the termination of your Employment Agreement (calendar years 2012 and 2013), or $777,994, less all lawful or required deductions, which shall be paid no later than January 15, 2015;
(b) a lump sum payment for all outstanding reasonable travel and other business expenses incurred as of the date of termination, which shall be paid no later than January 15, 2015;
(c) a lump sum payment equal to the Company’s estimate of the employer portion of the premiums necessary to continue your health care coverage under the Company’s plan until December 31, 2015, which shall be paid no later than January 15, 2015; provided however, that if prior to the payment of such amount you become covered under another group health plan (which coverage, once obtained, must be disclosed immediately to the Company by you), such cash amount shall be prorated to cover only the period from the Effective Date until the date on which such alternate coverage starts;
(d) a lump sum Annual Bonus for 2014, which shall be paid on the date that bonuses for 2014 are paid generally to the Company’s senior executives, but no later than March 15, 2015;
(e) immediate vesting of 89,022 of your restricted shares as of the Effective Date under the Company’s current stock option plan; and
(f) the right to exercise your vested stock options as of the Effective Date in accordance with the Company’s current stock option plan. Except as otherwise specifically provided herein or as required by applicable law, you shall not be entitled to any compensation or benefits or to participate in any past, present or future benefit programs or arrangements of the Company (including, without limitation, any compensation or benefits under any severance plan, program or arrangement) on or after the Effective Date.
Termination Pay and Benefits. If Executive voluntarily terminates Executive’s employment hereunder with Good Reason before the end of the Term, Executive will be entitled to receive the following compensation and benefits:
(A) An amount equal to the total of (i) the amount of Executive’s Annual Base Salary (at the rate of Annual Base Salary in effect before the event giving rise to Good Reason) for the remainder (if any) of the Contract Year during which Executive’s termination is effective, and (ii) an amount equal to 7/36ths of Executive’s Continued Compensation (as defined below). Such total amount will be payable to Executive in a lump sum on the first day of the 7th full calendar month immediately following the date of Executive’s Separation from Service;
(B) An amount equal to 29/36ths of Executive’s Continued Compensation, with such amount to be payable on a prorata basis over a 29 month period beginning on the first day of the 8th full calendar month immediately following the date of Executive’s Separation from Service, with such prorata payments to be made at the frequency and timing applicable from time to time under Cash America’s standard payroll practices and policies for salary payments to active senior executive officers;
(C) All other amounts and benefits to which Executive may be entitled as of the termination date under Cash America’s employee and/or executive benefit plans and arrangements generally, determined in accordance with the terms and conditions of such plans and arrangements; and
(D) Executive’s right to exercise stock options and Executive’s rights in other equity arrangements, if any, will remain governed by the terms and conditions of the appropriate equity plan and the underlying award agreements.
Termination Pay and Benefits
