Transition Period and Services. Beginning on the Effective Date and through and including August 31, 2019 (the “Transition Period”), Executive agrees to provide the following transition services (the “Transition Services”): (1) continue to serve as the Company’s President and Chief Executive Officer until such time as the Board determines that Executive shall no longer serve in such capacity and (2) provide reasonable transition services to the Company as the Company may request, including, but not limited to, assistance in the hiring of, and transitioning of Executive’s responsibilities to, a new chief executive officer of the Company. Executive’s employment during the period Executive provides the Transition Services shall continue to be “at-will,” meaning the Company and Executive are both free to terminate Executive’s employment with or without cause or notice. During the period Executive provides the Transition Services, Executive shall continue to receive his salary at the same rate and frequency that he was receiving his salary immediately prior to the Transition Period, and shall continue to be eligible to participate in then-available Company benefit programs at the same level as he would have been eligible to participate in such programs as of immediately prior to the Transition Period, subject to the terms and conditions, including eligibility requirements, of such programs. If, at any time during the period Executive provides the Transition Services, the Company appoints a new chief executive officer, Executive will take all reasonable steps necessary at the Company’s request to relinquish the title of president and chief executive officer and resign from the Board and continue providing such Transition Services. It is anticipated that Executive will be re-nominated for re-election to the Board at the 2019 annual shareholder meeting; provided, however, that failure to be re-nominated or elected to the Board shall not constitute a breach of this Agreement or termination of Executive’s employment without Cause for purposes of this Agreement.
Transition Period and Services. As we discussed, you have resigned and the Company has accepted your resignation and we have mutually agreed to the transition terms and severance benefits as set forth in this Agreement and consistent with the Employment Agreement between you and the Company, effective as of November 5, 2021 and amended on January 6, 2023 (the “Employment Agreement”). If you execute and return this Agreement within seven (7) days of receipt, then your employment with the Company will continue for a transition period through the earlier of (i) June 1, 2023 or (ii) such earlier date as determined by the Company (such period, the “Transition Period”). The date your employment ends for any reason is your “Separation Date” and it will automatically end at the end of the Transition Period. By your signature to this Agreement, you resign from each officer position you hold with the Company, effective as of the Separation Date. During the Transition Period, you will continue to perform your duties pursuant to your Employment Agreement and will be expected to continue to primarily work from the Company’s Celebration, Florida office consistent with the Company’s current hybrid work week. You agree through the Transition Period to continue to abide by all of your obligations to the Company, including such obligations set forth in your Employment Agreement, and the Company’s policies and procedures. During the Transition Period, your job title will be Chief Executive Officer, your base salary will remain the same, subject to standard deductions and withholdings, and you will retain your current eligibility to participate in benefits plans. The Company and you will agree to work in good faith on the messaging around your departure.
Transition Period and Services. Beginning on the Effective Date and through the Termination Date (the “Transition Period”), Executive will remain employed by the Company in the role of Special Advisor to the Chief Executive Officer. During the Transition Period, Executive agrees to provide transition services (the “Transition Services”) to the Company as the Company may reasonably request, including, but not limited to, assistance in the transitioning of Executive’s responsibilities to the successor Chief Executive Officer of the Company. During the Transition Period and in consideration of the Transition Services, Executive will (a) remain on the Company’s payroll and continue to be paid his base salary (at his base salary rate in effect immediately prior to the Transition Period) in equal bi-weekly payments, (b) be entitled to participate in the Company’s then-current benefit plans and programs to the extent and on the same basis that Executive participated in such plans and programs prior to the Transition Period, and (c) be reimbursed for reasonable business expenses, including travel and lodging, properly incurred by Executive in accordance with Company policy and consistent with standard practices in effect with respect to Executive immediately prior to the Transition Period.
Transition Period and Services. Your last day of employment with the Company will be August 16, 2023 (the “Separation Date”). Between now and the Separation Date (the “Transition Period”), you agree to carry out the duties and responsibilities of your position as directed principally by the Company’s executive leadership, including its interim CFO, and to provide other transition services as may reasonably be requested by the Company, including, without limitation, (i) transition of the responsibilities, duties, and knowledge relative to your position, and (ii) if requested by the Company, execution of the Company’s August 2023 10-Q financial statement, providing you shall not be required to sign the 2023 10-Q unless you believe the 10-Q and the required attestations are accurate (the “Transition Services”). During the Transition Period, you will primarily work remotely and come into the Company’s San Jose, California headquarters only when and as requested by the new interim CFO. By signing below, you hereby resign, effective as of the Separation Date, from all officer positions of the Company that you may hold, including, without limitation, the position of Acting Chief Financial Officer of the Company.
Transition Period and Services. As of the Transition Date, you shall be employed as an Executive Advisor on an at-will basis reporting to Xxxx Xxxxxxxx, Chairman and Chief Executive Officer or his successor (“CEO”), until your Termination Date, which shall occur no later than the close of business on October 1, 2015 (such period of employment, the “Transition Period”). The Transition Period will terminate before October 1, 2015, if you resign as an Executive Advisor or if the Company terminates the employment relationship for any reason. During the Transition Period, you will be required to work at least 35 hours per month. During the Transition Period, you will be allowed to commence new employment outside of Cisco so long as such employment (i) does not interfere with your duties as an Executive Advisor and (ii) except with the prior written consent of Cisco’s CEO, is not with any of the following companies or their subsidiaries: Alcatel-Lucent, Amazon Web Services, Arista Networks, ARRIS Group, Aruba Networks, Avaya, Brocade Communications Systems, Check Point Software Technologies, Dell, LM Ericsson Telephone Company, Extreme Networks, F5 Networks, FireEye, Fortinet, Hewlett-Packard, Huawei Technologies, Juniper Networks, Motorola Solutions, Palo Alto Networks, Riverbed Technology, Ruckus Wireless, Symantec and VMware (the “Competitor Companies,” which shall exclude FireEye, Fortinet, Palo Alto Networks and Ruckus Wireless after October 1, 2015). For purposes of this subsection (ii), “employment” shall include board of director or advisory board membership, and consulting arrangements. Notwithstanding the foregoing, you will not be deemed to provide services for a Competitor Company within the meaning of this Agreement if you serve as an officer, director or consultant of a company that is acquired by a Competitor Company and you continue to serve in substantially the same position with such company after the acquisition as before the acquisition; provided that at the time you are hired by the company, you do not have knowledge that acquisition discussions with the Competitor Company have commenced. Until the one (1) year anniversary of your Termination Date, the commencement of employment with one of the Competitor Companies set forth above will be deemed a breach of this Agreement and Cisco shall have all of its rights under law and equity for such breach including, but not limited to, the termination of your employment as an Executive Advisor and the forfeiture of all rights to th...
Transition Period and Services. Between now and the Separation Date (the “Transition Period”), you will carry out transition services pursuant to the following terms and conditions:
(i) The Company will continue to pay you, in accordance with the Company’s regular payroll practices, your regular base salary ($400,000 annualized) (the “Base Salary”) less applicable federal and state payroll withholdings, and you will continue to be eligible to participate in your existing Company benefits, including participation in the Company-sponsored health benefits plan and continued vesting of your equity, to the fullest extent allowed by the governing plans, agreements, or policies. Subject to Sections 2(c)(ii) and 6 below, your equity vesting will cease on the Separation Date. The Base Salary and Company benefits will not be subject to reduction during the Transition Period; Terms of Transition, Separation and Consultancy
(ii) You will have the title of Senior Vice President, Corporate Finance and Business Intelligence;
(iii) You will report directly to the acting Chief Financial Officer (“CFO”) Xxxx Xxxxxx;
(iv) You will provide transition services and other duties, as may reasonably be requested by the Company;
(v) Your security clearance and associated access rights to Company systems will be modified to be appropriate for your new role and duties; and
(vi) You will be eligible for a 2015 executive bonus, under terms and conditions that are consistent and commensurate with the terms and conditions afforded to other similarly situated/peer executives for 2015, and pursuant to the same criteria that applied to you when you were the Company’s CFO. Should those executives receive a bonus, Employee will also receive a bonus commensurate with those received by similarly situated/peer executives. You will not be eligible to earn or receive a 2016 bonus of any kind. If awarded, your 2015 bonus will be payable no later than March 15, 2016.
Transition Period and Services. As of the Transition Date, you shall be employed as an Executive Advisor on an at-will basis reporting to Xxxxx Xxxxxxx, Chairman and Chief Executive Officer or his successor (the “CEO”), until your Termination Date, which shall occur no later than the close of business on November 15, 2021 (such period of employment, the “Transition Period”). The Transition Period will terminate before November 15, 2021 if you resign as an Executive Advisor or if the Company terminates the employment relationship for any reason. You will not be eligible to participate in the Company’s Executive Incentive Plan or any other bonus or incentive compensation plans for fiscal years 2021 or 2022. You shall not be eligible to receive any new equity awards during the Transition Period. During the Transition Period, you will be required to work at least 35 hours per month. During the Transition Period, you will be allowed to commence new employment outside of Cisco so long as such employment (i) does not involve serving in the position of chief financial officer of any company, (ii) does not interfere with your duties as an Executive Advisor, and (iii) except with the prior written consent of the CEO, is not with any of the Entities. For purposes of this Section II, “employment” shall include board of director or advisory board membership, and consulting arrangements. During the Transition Period, the CEO or his successor must approve all your board of director or advisor board membership arrangements, whether or not with an Entity. The commencement of employment with one of the Entities during the Transition Period will be deemed a breach of this Agreement and Cisco shall have all of its rights under law and equity for such breach including, but not limited to, the termination of your employment as an Executive Advisor and the forfeiture of all rights to the benefits hereunder.
Transition Period and Services. Beginning on the Effective Date and through the Termination Date (the “Transition Period”), Executive agrees to provide the following transition services (the “Transition Services”): (i) continue to serve as the Company’s President, Chief Executive Officer and Secretary until such time as the Company hires a new Chief Executive Officer or the Board of Directors otherwise determines that Executive shall no longer serve in such capacity, and (ii) provide transition services to the Company as the Company may reasonably request, including, but not limited to, assistance in the transitioning of Executive’s responsibilities to a new Chief Executive Officer of the Company. During the Transition Period and in consideration of the Transition Services, Executive will (a) remain on the Company’s payroll and continue to be paid his base salary (at his base salary rate in effect immediately prior to the Transition Period) in accordance with the Company’s customary payroll practices, (b) be entitled to participate in the Company’s then-current benefit plans and programs to the extent and on the same basis that Executive participated in such plans and programs prior to the Transition Period, and (c) be reimbursed for business expenses properly incurred by Executive in accordance with Company policy and consistent with standards practices in effect with respect to Executive immediately prior to the Transition Period.
Transition Period and Services. Between now and the Separation Date (the “Transition Period”), you agree to carry out the duties and responsibilities of your position, and to provide other transition services as may reasonably be requested by the Company, including transition of the responsibilities, duties, and knowledge relative to your position (the “Transition Services”). During the Transition Period, you will maintain a full-time schedule.
Transition Period and Services. Between August 10, 2016, and the Separation Date (the “Transition Period”), you agree to: (i) reasonably and cooperatively transition your duties as directed by the Company; and (ii) abide by your ongoing employment obligations to the Company, including as described in Sections 5 and 6 below (collectively, the “Transition Services”). Your employment will continue as a Special Advisor during the Transition Period. During the Transition Period, the Company will provide express instructions to you on the work it expects you to perform. In the absence of an express request by the Company, you are not expected to be present at the Company’s offices and may work from home. You agree to spend an average of 30 hours a week during the Transition Period working for the Company.
