Common use of Upon Termination by Company for Cause or Voluntarily by Executive Clause in Contracts

Upon Termination by Company for Cause or Voluntarily by Executive. If Executive's employment is terminated by the Company for Cause or if Executive voluntarily terminates employment with the Company under Sections 2.2 (a) or (e), within fifteen (15) days of the date of such termination, the Company will pay Executive the: Accrued Base Salary; Accrued Vacation Payment; Accrued Reimbursable Expenses; and Benefits, together with any benefits required to be paid or provided under applicable law. In addition, if Executive's employment is terminated under this Section 3.5(b), any Long Term Grant Restricted Shares issued to Executive which have not yet vested shall immediately be forfeited by Executive.

Appears in 2 contracts

Samples: Employment Agreement (Inland Real Estate Corp), Employment Agreement (Inland Real Estate Corp)

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Upon Termination by Company for Cause or Voluntarily by Executive. If Executive's employment is terminated by the Company for Cause or if Executive voluntarily terminates his employment with the Company under Sections 2.2 (a) or (e), within fifteen (15) 15 days of the date of such termination, the Company will will: (i) pay Executive the: the Accrued Base Salary; ; (ii) pay Executive the Accrued Vacation Payment; ; (iii) pay Executive the Accrued Reimbursable Expenses; and and (iv) pay Executive the Accrued Benefits, together with any benefits required to be paid or provided under applicable law. In addition, if Executive's employment is terminated under this Section 3.5(b), any Initial Restricted Shares and Long Term Grant Restricted Shares issued to Executive which have not yet vested shall immediately be forfeited by Executive.

Appears in 2 contracts

Samples: Employment Agreement (Inland Real Estate Corp), Employment Agreement (Inland Real Estate Corp)

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