Termination Upon Expiration of Agreement. In the event that Luminex refuses for any reason to extend this Agreement by giving written notice at least 60 days prior to the initial or any renewal period as set forth in Section 2.1, Executive shall be paid (i) within three (3) business days following the effective date of termination the amount of the Accrued Obligations and (ii) all severance compensation provided in Section 4.4. In the event that Executive refuses for any reason (except as otherwise provided herein) to extend this Agreement by giving written notice at least 60 days prior to the initial or any renewal period as set forth in Section 2.1, the termination shall be deemed an Actual Voluntary Termination.
Termination Upon Expiration of Agreement. If not previously terminated, this Agreement and your employment with the Company shall be automatically extended for additional three-year periods, unless and until either party notifies the other, in writing, one year prior to the expiration of the then-current term of this Agreement. After the expiration of this agreement, the Company shall pay to you the Monthly Supplemental Retirement Benefit as set forth in Paragraph 2D hereof, with the first monthly payment beginning on the first day of the month immediately succeeding the month in which you shall have attained the age of 55. The Company shall have no further obligation to you under this Agreement and you shall have no further obligation to the Company under this Agreement except as provided in Paragraph 12 and Paragraph 13 hereof. G.
Termination Upon Expiration of Agreement. If Executive’s employment is not terminated in accordance with subparagraphs 7.1-7.6, this Agreement will expire exactly one year from the Effective Date. In the event of expiration of this Agreement, Executive shall be entitled to receive only the Standard Entitlements earned through the date of expiration. All other Company obligations to Executive pursuant to this Agreement will become automatically terminated and completely extinguished. Executive will not be entitled to receive the Severance Package described in subparagraph 7.2 above.
Termination Upon Expiration of Agreement. In the event that NMHC refuses for any reason to extend the Term of this Agreement by giving written notice at least ninety (90) days prior to the initial or any renewal period as set forth in Section 2.1, Executive shall be paid (i) within three (3) business days following the effective date of termination the amount of the Accrued Obligations; and (ii) (subject to Section 2.2.8)
Termination Upon Expiration of Agreement. The paragraph of the First Amendment entitled “Termination Upon Expiration of Agreement” shall be deleted in its entirety. Upon expiration of the Agreement, as modified by this Amendment, on April 30, 2019, Employee shall receive the Standard Termination Payments and, provided Employee has, within 21 days of April 30, 2019, delivered to the Company, and not revoked, a release agreement, substantially in the form attached hereto as Exhibit A (the “Release Requirement”):
a. no later than March 15, 2020, payment of an amount equal to (A) the Incentive Compensation which would have been payable to Employee had Employee remained in employment with the Company during all of 2019, multiplied by (B) a fraction the numerator of which is 120 and the denominator of which is 365;
b. the consulting agreement attached hereto as Exhibit B (the “Consulting Agreement”) shall become effective as of May 1, 2019 (in the event the Release Requirement is not satisfied, the Consulting Agreement shall be null and void and of no effect);
c. all unvested restricted stock units held by Employee shall become fully vested and non-forfeitable and shares of the Company’s common stock in respect of such restricted stock units shall be delivered to Employee as soon as practicable, but in no event more than 70 days following April 30, 2019;
d. all unvested stock options held by Employee shall continue to vest during the term of the Consulting Agreement as if Employee was still an employee of the Company and if Employee provides consulting services to the Company in accordance with the terms of the Consulting Agreement through December 31, 2020, all unvested stock options as of such date shall become fully vested and non-forfeitable; and
e. all vested stock options held by Employee (including those that become vested in accordance with paragraph 6(d) above) shall remain outstanding and exercisable until the scheduled expiration date of such stock options; provided, however, that all equity awards held by Employee and/or all amounts received by him in respect thereof shall remain subject to forfeiture or recovery by the Company pursuant to Sections 5(k) and 6.6 of the Agreement and any applicable clawback or similar compensation recovery policy adopted by the Company from time to time. The Company and Employee hereby agree and acknowledge that the Release Requirement shall satisfy the requirements of Section 5(k) of the Agreement.
Termination Upon Expiration of Agreement. In the event that TOKOX xxxls or otherwise refuses for any reason (except as otherwise provided herein) to extend this Agreement at least 90 days prior to the initial or any renewal period, EMPLOYEE shall immediately be paid all accrued salary, bonus compensation calculated by pro-rating all achievement and other measuring numbers set forth in the bonus plan for other similarly situated officers as though the year ended on the date of the failure to extend the Agreement, vested deferred compensation (other than pension plan or profit sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of TOKOX xx which EMPLOYEE is a participant to the full extent of EMPLOYEE's rights under such plans, accrued PTO pay and any appropriate business expenses incurred by EMPLOYEE in connection with his duties hereunder, all to the date of termination and all severance compensation provided in Section 5.6, but no other compensation or reimbursement of any kind.
Termination Upon Expiration of Agreement. In the event that the Agreement expires on or after February 1, 2012, you will receive the Accrued Obligations and:
Termination Upon Expiration of Agreement. If this Agreement is terminated due to the expiration of the Term as provided in Section 2:
(i) the Company shall pay Executive the Payment for Services Rendered;
(ii) the Company shall pay Executive the Vacation Payment;
(iii) subject to the restrictions in Sections 9 and 10, the Company shall pay Executive the Eighteen Month Payment;
(iv) subject to the restrictions in Section 9 and 10, the Company shall pay Executive the Cobra Payment. The Company's obligation under this Section 7(f)(iv) shall immediately cease at such time as Executive becomes eligible for comparable health coverage from another company. If Executive fails to notify the Company that he is eligible for other health coverage within thirty (30) days of becoming eligible for such coverage, Executive shall be considered in breach of this Agreement and shall be required to repay to the Company all payments made under this Section 7(f)(iv); and
(v) subject to the restrictions set forth in Section 9, the Company shall accelerate the vesting of any outstanding option to purchase shares of stock of the Company granted to Executive by one (1) year, and accelerate the lapse of all repurchase rights and forfeiture restrictions applicable to any restricted stock award by one (1) year, all subject to the terms and conditions of the applicable plan documents and agreement(s), except that any provisions of such plan documents and agreements to the contrary notwithstanding, Executive shall have until and through December 31, 2004 to exercise any outstanding option for vested shares of the Company's stock.
Termination Upon Expiration of Agreement. If not previously terminated, this Agreement and your employment with the Company shall be automatically extended for additional three-year renewal terms, unless and until either party notifies the other to the contrary, in writing, six (6) months prior to the expiration of the then-current term or renewal term of this Agreement. In the event your employment is terminated under this paragraph 8F, the Company shall pay to you, to the extent vested, the monthly Supplemental Retirement Benefit as set forth in Paragraph 2F hereof with payment of the Monthly Amount delayed until the first day of the seventh (7th) full calendar month immediately succeeding the month in which your termination occurs or until the first full calendar month following your 65th birthday, whichever is later. However, if the delay is until the first day of the seventh (7th) full calendar month immediately succeeding the month in which your termination occurs, the first such payment will include the aggregate of the Monthly Amounts that would have been made during the interim period and such payment will reduce the number of overall monthly payments under Paragraph 2F hereof by the number of months in the interim period for which payments are made. The Company shall have no further obligation to you under this Agreement and you shall have no further obligation to the Company under this Agreement except as provided in Paragraphs 11 and Xxxxxxxxx 00 xxxxxx.
Termination Upon Expiration of Agreement. If not previously terminated, your employment with the Company shall terminate upon the expiration of the full term of this Agreement on June 30, 2003. Upon the expiration of this agreement the Company shall pay to you the Monthly Deferred Compensation as set forth in Paragraph 2D hereof, with the first monthly payment beginning on the first day of the month immediately succeeding the month in which you shall have attained the age of 55. The Company shall have no further obligation to you under this Agreement and you shall have no further obligation to the Company under this Agreement except as provided in Paragraph 12 and Paragraph 13 hereof. 10.
