Common use of Upon Termination by the Executive for Good Reason Clause in Contracts

Upon Termination by the Executive for Good Reason. If Executive’s employment hereunder and this Agreement is terminated under Section 2.2 (c), within thirty (30) days of the date of such termination, the Company will pay Executive: (i) any accrued base salary; (ii) any accrued vacation payment; (iii) any accrued reimbursable expenses; (iv) any accrued benefits, together with any benefits required to be paid or provided under applicable law; (v) any accrued bonus (which has been determined for the prior year, but not yet paid); (vi) any accrued bonus for the current year prorated to the date of termination; and (vii) an amount equal to the sum of: (A) Executive’s then current per annum base salary; plus (B) an amount equal to the Annual Incentive Bonus which was earned by Executive for the fiscal year immediately preceding the year of termination; provided, however, that the payment to Executive pursuant to this Section shall in no event exceed an amount which would cause Executive to receive an “excess parachute payment” as defined in the Internal Revenue Code of 1986, as amended (the “Code”). In addition, if Executive’s employment and this Agreement is terminated under Section 2.2 (c) any Long Term Shares issued to Executive which have not yet vested shall immediately vest and shall no longer be subject to forfeiture by Executive.

Upon Termination by the Executive for Good Reason. If Executive’s employment hereunder and this Agreement is terminated under Section 2.2 (c), within thirty (30) days of the date of such termination, the Company will pay Executive: (i) any accrued base salary; (ii) any accrued vacation payment; (iii) any accrued reimbursable expenses; (iv) any accrued benefits, together with any benefits required to be paid or provided under applicable law; (v) any accrued bonus (which has been determined for the prior year, but not yet paid); (vi) any accrued bonus for the current year prorated to the date of termination; and (vii) an amount equal to .75 times the sum of: (A) Executive’s then current per annum base salary; plus (B) an amount equal to the Annual Incentive Bonus which was earned by Executive for the fiscal year immediately preceding the year of termination; provided, however, that the payment to Executive pursuant to this Section shall in no event exceed an amount which would cause Executive to receive an “excess parachute payment” as defined in the Internal Revenue Code of 1986, as amended (the “Code”). In addition, if Executive’s employment and this Agreement is terminated under Section 2.2 (c) any Long Term Shares issued to Executive which have not yet vested shall immediately vest and shall no longer be subject to forfeiture by Executive.

Upon Termination by the Executive for Good Reason. If Executive’s employment hereunder and this Agreement is terminated under Section 2.2 (c), within thirty (30) days of the date of such termination, the Company will pay Executive: (i) any accrued base salaryAccrued Base Cash Salary; (ii) any accrued vacation paymentAccrued Vacation Payment; (iii) any accrued reimbursable expensesAccrued Reimbursable Expenses; (iv) any accrued benefitsAccrued Benefits, together with any benefits required to be paid or provided under applicable law; (v) any accrued bonus (which has been determined for the prior year, but not yet paid); (vi) any accrued bonus for the current year prorated to the date of terminationAccrued Bonus; and (viivi) an amount equal to the sum of: (A) Executive’s then current per annum base salaryBase Cash Salary; plus (B) an amount equal to the Annual Incentive Bonus which was earned by Executive for the fiscal year immediately preceding the year of termination; provided, however, that the payment to Executive pursuant to this Section shall in no event exceed an amount which would cause Executive to receive an “excess parachute payment” as defined in the Internal Revenue Code of 1986, as amended (the “Code”). In addition, if Executive’s employment and this Agreement is are terminated under Section 2.2 (c) ), any Long Term Restricted Shares issued to Executive which have not yet vested shall immediately vest and shall no longer be subject to forfeiture by Executive.

Upon Termination by the Executive for Good Reason. If Executive’s employment hereunder and this Agreement is terminated under Section 2.2 (c2.2(c), within thirty (30) days of the date of such termination, the Company will pay Executive: (i) any accrued base salaryAccrued Base Cash Salary; (ii) any accrued vacation paymentAccrued Vacation Payment; (iii) any accrued reimbursable expensesAccrued Reimbursable Expenses; (iv) any accrued benefitsAccrued Benefits, together with any benefits required to be paid or provided under applicable law; (v) any accrued bonus (which has been determined for the prior year, but not yet paid); (vi) any accrued bonus for the current year prorated to the date of terminationAccrued Bonus; and (viivi) an amount equal to the sum of: (A) Executive’s then current per annum base salaryBase Cash Salary; plus (B) an amount equal to the Annual Incentive Bonus which was earned by Executive for the fiscal year immediately preceding the year of termination; provided, however, that the payment to Executive pursuant to this Section shall in no event exceed an amount which would cause Executive to receive an “excess parachute payment” as defined in the Internal Revenue Code of 1986, as amended (the “Code”). In addition, if Executive’s employment and this Agreement is are terminated under Section 2.2 (c) ), any Long Term Restricted Shares issued to Executive which have not yet vested shall immediately vest and shall no longer be subject to forfeiture by Executive.