Termination With Cause or Without Good Reason. In the event that Executive’s employment is terminated by QTS LLC with Cause or by Executive without Good Reason, QTS LLC shall pay all Accrued Obligations to Executive in a lump sum in cash within twenty (20) days after the Termination Date or on such earlier date required by applicable law. “Accrued Obligations” means the sum of (a) Executive’s Base Pay hereunder through the Termination Date to the extent not theretofore paid, (b) the amount of any accrued but unused vacation pay, and (c) any business expense reimbursements incurred by Executive as of the Termination Date and submitted for reimbursement, in each case, consistent with the policy for such reimbursements, within ten (10) days following the Termination Date.
Appears in 4 contracts
Samples: Employment Agreement (QualityTech, LP), Employment Agreement (Quality Investment Properties Irving II, LLC), Employment Agreement (QTS Realty Trust, Inc.)
Termination With Cause or Without Good Reason. In the event that Executive’s employment is terminated by QTS LLC the Company with Cause or by Executive without Good Reason, QTS LLC the Company shall pay all Accrued Obligations to Executive in a lump sum in cash within twenty (20) days after the Termination Date or on such earlier date required by applicable law. “Accrued Obligations” means the sum of (a) Executive’s Base Pay hereunder through the Termination Date to the extent not theretofore paid, (b) the amount of any accrued but unused vacation pay, and (c) any business expense reimbursements incurred by Executive as of the Termination Date and submitted for reimbursement, in each case, consistent with the policy for such reimbursements, within ten (10) days following the Termination Date.
Appears in 3 contracts
Samples: Employment Agreement (QualityTech, LP), Employment Agreement (QTS Realty Trust, Inc.), Employment Agreement (QTS Realty Trust, Inc.)