Common use of Termination Upon Expiration of Term Clause in Contracts

Termination Upon Expiration of Term. Subject to Section 9(g), if the employment of the Executive terminates upon the expiration of the Term as a result of the Company’s failure to offer to renew this Agreement in accordance with Section 8(b), (i) the Company shall pay the Executive (or the Executive’s estate, if the Executive dies after such termination and execution of the Release but before receiving such amount) (A) all Accrued Benefits, if any, to which the Executive is entitled, and (B) continued payments of the Executive’s Base Salary in accordance with the Company’s payroll policies in effect on the Date of Termination for the twenty four (24) month period commencing upon the Executive’s Date of Termination; and (ii) the Executive and the Executive’s covered dependents shall be entitled to continued participation, on the same terms and conditions if the Executive had remained employed for such period, for twelve (12) months in such medical, dental, and hospitalization insurance coverage in which the Executive and his eligible dependents were participating immediately prior to the Date of Termination, subject to Section 9(j).

Appears in 8 contracts

Samples: Employment Agreement (Masonite International Corp), Employment Agreement (Masonite International Corp), Employment Agreement (Masonite International Corp)

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Termination Upon Expiration of Term. Subject to Section 9(g), if the employment of the Executive terminates upon the expiration of the Term as a result of the Company’s failure to offer to renew this Agreement in accordance with Section 8(b), (i) the Company shall pay the Executive (or the Executive’s estate, if the Executive dies after such termination and execution of the Release but before receiving such amount) (A) all Accrued Benefits, if any, to which the Executive is entitled, and (B) continued payments of the Executive’s Base Salary in accordance with the Company’s payroll policies in effect on the Date of Termination for the twenty twenty-four (24) month period commencing upon the Executive’s Date of Termination; and (ii) the Executive and the Executive’s his covered dependents shall be entitled to continued participation, on the same terms and conditions if the Executive had remained employed for such period, for twelve (12) months in such medical, dental, and hospitalization insurance coverage in which the Executive and his eligible dependents were participating immediately prior to the Date of Termination, subject to Section 9(j).

Appears in 6 contracts

Samples: Employment Agreement (Masonite International Corp), Employment Agreement (Masonite International Corp), Employment Agreement (Masonite International Corp)

Termination Upon Expiration of Term. Subject to Section 9(g), if the employment of the Executive terminates upon the expiration of the Term as a result of the Company’s failure to offer to renew this Agreement in accordance with Section 8(b), (i) the Company shall pay the Executive (or the Executive’s estate, if the Executive dies after such termination and execution of the Release but before receiving such amount) (A) all Accrued Benefits, if any, to which the Executive is entitled, and (B) continued payments of the Executive’s Base Salary in accordance with the Company’s payroll policies in effect on the Date of Termination for the twenty twenty-four (24) month period commencing upon the Executive’s Date of Termination; and (ii) the Executive and the Executive’s her covered dependents shall be entitled to continued participation, on the same terms and conditions if the Executive had remained employed for such period, for twelve (12) months in such medical, dental, and hospitalization insurance coverage in which the Executive and his her eligible dependents were participating immediately prior to the Date of Termination, subject to Section 9(j).

Appears in 1 contract

Samples: Employment Agreement (Masonite International Corp)

Termination Upon Expiration of Term. Subject to Section 9(g), if the employment of the Executive terminates upon the expiration of the Term as a result of the Company’s failure to offer to renew this Agreement in accordance with Section 8(b), (i) the Exhibit 10.4 Company shall pay the Executive (or the Executive’s estate, if the Executive dies after such termination and execution of the Release but before receiving such amount) (A) all Accrued Benefits, if any, to which the Executive is entitled, and (B) continued payments of the Executive’s Base Salary in accordance with the Company’s payroll policies in effect on the Date of Termination for the twenty four (24) month period commencing upon the Executive’s Date of Termination; and (ii) the Executive and the Executive’s covered dependents shall be entitled to continued participation, on the same terms and conditions if the Executive had remained employed for such period, for twelve (12) months in such medical, dental, and hospitalization insurance coverage in which the Executive and his eligible dependents were participating immediately prior to the Date of Termination, subject to Section 9(j).

Appears in 1 contract

Samples: Employment Agreement (Masonite International Corp)

Termination Upon Expiration of Term. Subject to Section 9(g), if the employment of the Executive terminates upon the expiration of the Term as a result of the Company’s failure to offer to renew this Agreement in accordance with Section 8(b), (i) the Exhibit 10.1 Company shall pay the Executive (or the Executive’s estate, if the Executive dies after such termination and execution of the Release but before receiving such amount) (A) all Accrued Benefits, if any, to which the Executive is entitled, and (B) continued payments of the Executive’s Base Salary in accordance with the Company’s payroll policies in effect on the Date of Termination for the twenty four (24) month period commencing upon the Executive’s Date of Termination; and (ii) the Executive and the Executive’s covered dependents shall be entitled to continued participation, on the same terms and conditions if the Executive had remained employed for such period, for twelve (12) months in such medical, dental, and hospitalization insurance coverage in which the Executive and his eligible dependents were participating immediately prior to the Date of Termination, subject to Section 9(j).

Appears in 1 contract

Samples: Employment Agreement (Masonite International Corp)

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Termination Upon Expiration of Term. Subject to Section 9(g), if the employment of the Executive terminates upon the expiration of the Term as a result of the Company’s failure to offer to renew this Agreement in accordance with Section 8(b), (i) the Exhibit 10.3 Company shall pay the Executive (or the Executive’s estate, if the Executive dies after such termination and execution of the Release but before receiving such amount) (A) all Accrued Benefits, if any, to which the Executive is entitled, and (B) continued payments of the Executive’s Base Salary in accordance with the Company’s payroll policies in effect on the Date of Termination for the twenty four (24) month period commencing upon the Executive’s Date of Termination; and (ii) the Executive and the Executive’s covered dependents shall be entitled to continued participation, on the same terms and conditions if the Executive had remained employed for such period, for twelve (12) months in such medical, dental, and hospitalization insurance coverage in which the Executive and his eligible dependents were participating immediately prior to the Date of Termination, subject to Section 9(j).

Appears in 1 contract

Samples: Employment Agreement (Masonite International Corp)

Termination Upon Expiration of Term. Subject to Section 9(g), if the employment of the Executive terminates upon the expiration of the Term as a result of the Company’s failure to offer to renew this Agreement in accordance with Section 8(b), (i) the Exhibit 10.2 Company shall pay the Executive (or the Executive’s estate, if the Executive dies after such termination and execution of the Release but before receiving such amount) (A) all Accrued Benefits, if any, to which the Executive is entitled, and (B) continued payments of the Executive’s Base Salary in accordance with the Company’s payroll policies in effect on the Date of Termination for the twenty four (24) month period commencing upon the Executive’s Date of Termination; and (ii) the Executive and the Executive’s covered dependents shall be entitled to continued participation, on the same terms and conditions if the Executive had remained employed for such period, for twelve (12) months in such medical, dental, and hospitalization insurance coverage in which the Executive and his eligible dependents were participating immediately prior to the Date of Termination, subject to Section 9(j).

Appears in 1 contract

Samples: Employment Agreement (Masonite International Corp)

Termination Upon Expiration of Term. Subject to Section 9(g), if the employment of the Executive terminates upon the expiration of the Term as a result of the Company’s failure to offer to renew this Agreement in accordance with Section 8(b), (i) the Company shall pay the Executive (or the Executive’s estate, if the Executive dies after such termination and execution of the Release but before receiving such amount) (A) all Accrued Benefits, if any, to which the Executive is entitled, and (B) continued payments of the Executive’s Base Salary in accordance with the Company’s payroll policies in effect on the Date of Termination for the twenty four twelve (2412) month period commencing upon the Executive’s Date of Termination; and (ii) the Executive and the Executive’s his covered dependents shall be entitled to continued participation, on the same terms and conditions if the Executive had remained employed for such period, for twelve (12) months in such medical, dental, and hospitalization insurance coverage in which the Executive and his eligible dependents were participating immediately prior to the Date of Termination, subject to Section 9(j).

Appears in 1 contract

Samples: Employment Agreement (Masonite International Corp)

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