Common use of Voluntary Termination, Termination for Cause, or Termination for Death or Disability Clause in Contracts

Voluntary Termination, Termination for Cause, or Termination for Death or Disability. In the case of a termination of Executive’s employment by mutual agreement under Section 1.5(a)(i) above, on account of Executive’s Death or Disability under Section 1.5(a)(ii) above, or by Executive’s Voluntary termination under Section 1.5(a)(iii) above, or by Company for Cause in accordance with Section 1.5(a)(iv) above, (i) Company shall pay to Executive (or his estate or guardian, as the case may be) and Executive (or his estate or guardian, as the case may be) shall be entitled to be paid the following as and to the extent the same shall have been earned through the Termination Date: (A) in all such events, Base Compensation earned, but unpaid and any Business Expenses so long as any such reimbursement request shall be submitted not later than ninety (90) days following Executive’s Separation From Service; and (B) in the case of Death or Disability, accrued, but unpaid Bonus Payments; accrued but unused vacation or personal leave days to the extent convertible into cash under Company’s policies; and vested benefits under any employee benefit or stock option plan or agreement; provided, however, that in no event shall Executive be entitled to receive payment of, and Company shall have no obligation to pay, any severance or similar compensation attributable to such termination. Company shall pay all such amounts that are due and payable in cash within thirty (30) days of the Termination Date, subsequent to any such payment, Company’s obligations under this Agreement shall immediately cease.

Appears in 6 contracts

Samples: Senior Executive Employment Agreement (VIASPACE Green Energy Inc.), Employment Agreement (VIASPACE Inc.), Senior Executive Employment Agreement (VIASPACE Green Energy Inc.)

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Voluntary Termination, Termination for Cause, or Termination for Death or Disability. In the case of a termination of Executive’s 's employment by mutual agreement under Section 1.5(a)(i) above, on account of Executive’s Death or Disability under Section 1.5(a)(ii) above, or by Executive’s 's Voluntary termination under Section 1.5(a)(iii) above, or by Company for Cause in accordance with Section 1.5(a)(iv) above, (i) Company shall pay to Executive (or his estate or guardian, as the case may be) and Executive (or his estate or guardian, as the case may be) shall be entitled to be paid the following as and to the extent the same shall have been earned through the Termination Date: (A) in all such events, Base Compensation Salary earned, but unpaid; (B) in the case of death or Disability, accrued, but unpaid Bonuses; (C) accrued but unused vacation or personal leave days to the extent convertible into cash under Company's policies; (D) vested benefits under any employee benefit or stock option plan or agreement; and (E) any Business Expenses 409A Permitted Reimbursements so long as any such reimbursement request shall be submitted not later than ninety (90) days following Executive’s Separation From Service; Service and paid not later than ninety (B90) in the case of Death or Disability, accrued, but unpaid Bonus Payments; accrued but unused vacation or personal leave days to the extent convertible into cash under Company’s policies; and vested benefits under any employee benefit or stock option plan or agreementthereafter; provided, however, that in no event shall Executive be entitled to receive payment of, and Company shall have no obligation to pay, any severance or similar compensation attributable to such termination. Company shall pay all such amounts that are due , and payable in cash within thirty (30ii) days of the Termination Date, subsequent to any such payment, Company’s 's obligations under this Agreement shall immediately cease.

Appears in 4 contracts

Samples: Employment Agreement (Collexis Holdings, Inc.), Employment Agreement (Collexis Holdings, Inc.), Employment Agreement (Collexis Holdings, Inc.)

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