Common use of Without Severance Benefits Clause in Contracts

Without Severance Benefits. If Executive’s employment under this Agreement is terminated by reason of Executive’s death or Disability pursuant to Sections 4.2(a) or 4.2(b), by Company for Cause pursuant to Section 4.2(c), by Executive without Good Reason pursuant to Sections 4.2(e)(i) or 4.2(e)(ii), or by Company for non-renewal pursuant to Section 4.2(e)(iii), then all further rights of Executive (or as applicable, of Executive’s heirs or estate) to employment and/or compensation and benefits from Company under this Agreement shall cease as of the Termination Date, except that Company will pay Executive (or as applicable, Executive’s heirs or estate) the following: (a) any amount of unpaid Base Salary earned by Executive through the Termination Date, paid in the same manner and on the same date as would have occurred if Executive’s employment under this Agreement had not ceased; (b) any amount of unpaid Annual Bonus or other bonus that Company in its sole discretion may deem to be earned by Executive through the Termination Date, paid in the same manner and on the same date as would have occurred if Executive’s employment under this Agreement had not ceased; provided, however, that no Annual Bonus will be paid for any partial year of work (i.e. for any year during which the Executive was not employed with Company throughout that year, through and including the last day of the year); (c) all unpaid reimbursable expenses due to Executive under this Agreement as of the Termination Date, subject to Executive’s compliance with Company’s expense reimbursement policies, paid in accordance with the terms of Company’s policies, practices, and procedures regarding reimbursable expenses, and subject to the provisions in Section 5.4 as applicable to reimbursements of expenses that constitute taxable income to Executive; (d) all unpaid benefits that have been earned by or vested in Executive under, and subject to the terms of, the employee benefit plans, insurance policies, or arrangements of Company in which Executive participated through the Termination Date, paid in accordance with the terms of the employee benefit plans, insurance policies, or arrangements under which such amounts are due to Executive; and (e) an amount equal to all accrued and unused vacation pay, calculated in accordance with Company’s vacation policies, practices, and procedures, earned by Executive through the Termination Date, paid in accordance with the terms of Company’s policies, practices, and procedures regarding vacation pay; provided, however, that such payment will be made in a single sum cash payment within sixty (60) days after the Termination Date.

Appears in 2 contracts

Samples: Executive Employment Agreement (Heelys, Inc.), Executive Employment Agreement (Heelys, Inc.)

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Without Severance Benefits. If Executive’s employment under this Agreement is terminated by reason of Executive’s death or Disability pursuant to Sections 4.2(a) or 4.2(b), by Company for Cause pursuant to Section 4.2(c), by Executive without Good Reason pursuant to Sections 4.2(e)(i) or 4.2(e)(ii), or by Company for non-renewal pursuant to Section 4.2(e)(iii), then all further rights of Executive (or as applicable, of Executive’s heirs or estate) to employment and/or compensation and benefits from Company under this Agreement shall cease as of the Termination Date, except that Company will pay Executive (or as applicable, Executive’s heirs or estate) the following: (a) any amount of unpaid Base Salary earned by Executive through the Termination Date, paid in the same manner and on the same date as would have occurred if Executive’s employment under this Agreement had not ceased; (b) any amount of unpaid Annual Bonus or other bonus that Company in its sole discretion may deem to be earned by Executive through the Termination Date, paid in the same manner and on the same date as would have occurred if Executive’s employment under this Agreement had not ceased; provided, however, that no Annual Bonus will be paid for any partial year of work (i.e. for any year during which the Executive was not employed with Company throughout that year, through and including the last day of the year); (c) all unpaid reimbursable expenses due to Executive under this Agreement as of the Termination Date, subject to Executive’s compliance with Company’s expense reimbursement policies, paid in accordance with the terms of Company’s policies, practices, and procedures regarding reimbursable expenses, and subject to the provisions in Section 5.4 5.3 as applicable to reimbursements of expenses that constitute taxable income to Executive; (d) all unpaid benefits that have been earned by or vested in Executive under, and subject to the terms of, the employee benefit plans, insurance policies, or arrangements of Company in which Executive participated through the Termination Date, paid in accordance with the terms of the employee benefit plans, insurance policies, or arrangements under which such amounts are due to Executive; and (e) an amount equal to all accrued and unused vacation pay, calculated in accordance with Company’s vacation policies, practices, and procedures, earned by Executive through the Termination Date, paid in accordance with the terms of Company’s policies, practices, and procedures regarding vacation pay; provided, however, that such payment will be made in a single sum cash payment within sixty (60) days after the Termination Date.

Appears in 2 contracts

Samples: Executive Employment Agreement (Heelys, Inc.), Executive Employment Agreement (Heelys, Inc.)

Without Severance Benefits. If Executive’s employment under this Agreement is terminated by reason of Executive’s death or Disability pursuant to Sections 4.2(a) or 4.2(b)) , by Company for Cause pursuant to Section 4.2(c)) , by Executive without Good Reason pursuant to Sections 4.2(e)(i) or 4.2(e)(ii)) , or by Company for non-renewal pursuant to Section 4.2(e)(iii)) , then all further rights of Executive (or as applicable, of Executive’s heirs or estate) to employment and/or compensation and benefits from Company under this Agreement shall cease as of the Termination Date, except that Company will pay Executive (or as applicable, Executive’s heirs or estate) the following: (a) any amount of unpaid Base Salary earned by Executive through the Termination Date, paid in the same manner and on the same date as would have occurred if Executive’s employment under this Agreement had not ceased; (b) any amount of unpaid Annual Bonus or other bonus that Company in its sole discretion may deem to be earned by Executive through the Termination Date, paid in the same manner and on the same date as would have occurred if Executive’s employment under this Agreement had not ceased; provided, howeverhowever , that no Annual Bonus will be paid for any partial year of work (i.e. for any year during which the Executive was not employed with Company throughout that year, through and including the last day of the year); (c) all unpaid reimbursable expenses due to Executive under this Agreement as of the Termination Date, subject to Executive’s compliance with Company’s expense reimbursement policies, paid in accordance with the terms of Company’s policies, practices, and procedures regarding reimbursable expenses, and subject to the provisions in Section 5.4 5.5 as applicable to reimbursements of expenses that constitute taxable income to Executive; (d) all unpaid benefits that have been earned by or vested in Executive under, and subject to the terms of, the employee benefit plans, insurance policies, or arrangements of Company in which Executive participated through the Termination Date, paid in accordance with the terms of the employee benefit plans, insurance policies, or arrangements under which such amounts are due to Executive; and (e) an amount equal to all accrued and unused vacation pay, calculated in accordance with Company’s vacation policies, practices, and procedures, earned by Executive through the Termination Date, paid in accordance with the terms of Company’s policies, practices, and procedures regarding vacation pay; provided, howeverhowever , that such payment will be made in a single sum cash payment within sixty (60) days after the Termination Date.

Appears in 1 contract

Samples: Executive Employment Agreement (Heelys, Inc.)

Without Severance Benefits. If Executive’s employment under this Agreement is terminated by reason of Executive’s death or Disability pursuant to Sections 4.2(a) or 4.2(b), by Company for Cause pursuant to Section 4.2(c), by Executive without Good Reason pursuant to Sections 4.2(e)(i) or 4.2(e)(ii), or by Company for non-renewal pursuant to Section 4.2(e)(iii), then all further rights of Executive (or as applicable, of Executive’s heirs or estate) to employment and/or compensation and benefits from Company under this Agreement shall cease as of the Termination Date, except that Company will pay Executive (or as applicable, Executive’s heirs or estate) the following: (a) any amount of unpaid Base Salary earned by Executive through the Termination Date, paid in the same manner and on the same date as would have occurred if Executive’s employment under this Agreement had not ceased; (b) any amount of unpaid Guaranteed Bonus, Annual Bonus or other bonus that Company in its sole discretion may deem to be earned by Executive through the Termination Date, paid in the same manner and on the same date as would have occurred if Executive’s employment under this Agreement had not ceased; provided, however, that no Annual Bonus will be paid for any partial year of work (i.e. for any year during which the Executive was not employed with Company throughout that year, through and including the last day of the year); (c) all unpaid reimbursable expenses due to Executive under this Agreement as of the Termination Date, subject to Executive’s compliance with Company’s expense reimbursement policies, paid in accordance with the terms of Company’s policies, practices, and procedures regarding reimbursable expenses, and subject to the provisions in Section 5.4 as applicable to reimbursements of expenses that constitute taxable income to Executive; (d) all unpaid benefits that have been earned by or vested in Executive under, and subject to the terms of, the employee benefit plans, insurance policies, or arrangements of Company in which Executive participated through the Termination Date, paid in accordance with the terms of the employee benefit plans, insurance policies, or arrangements under which such amounts are due to Executive; and (e) an amount equal to all accrued and unused vacation pay, calculated in accordance with Company’s vacation policies, practices, and procedures, earned by Executive through the Termination Date, paid in accordance with the terms of Company’s policies, practices, and procedures regarding vacation pay; provided, however, that such payment will be made in a single sum cash payment within sixty (60) days after the Termination Date.

Appears in 1 contract

Samples: Executive Employment Agreement (Heelys, Inc.)

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Without Severance Benefits. If Executive’s employment under this Agreement is terminated by reason of Executive’s death or Disability pursuant to Sections 4.2(a) or 4.2(b), by Company for Cause pursuant to Section 4.2(c), by Executive without Good Reason pursuant to Sections 4.2(e)(i) or 4.2(e)(ii), or by Company for non-renewal pursuant to Section 4.2(e)(iii), then all further rights of Executive (or as applicable, of Executive’s heirs or estate) to employment and/or compensation and benefits from Company under this Agreement shall cease as of the Termination Date, except that Company will pay Executive (or as applicable, Executive’s heirs or estate) the following: (a) any amount of unpaid Base Salary earned by Executive through the Termination Date, paid in the same manner and on the same date as would have occurred if Executive’s employment under this Agreement had not ceased; (b) any amount of unpaid Annual Bonus or other bonus that Company in its sole discretion may deem to be earned by Executive through the Termination Date, paid in the same manner and on the same date as would have occurred if Executive’s employment under this Agreement had not ceased; provided, however, that no Annual Bonus will be paid for any partial year of work (i.e. for any year during which the Executive was not employed with Company throughout that year, through and including the last day of the year); (c) all unpaid reimbursable expenses due to Executive under this Agreement as of the Termination Date, subject to Executive’s compliance with Company’s expense reimbursement policies, paid in accordance with the terms of Company’s policies, practices, and procedures regarding reimbursable expenses, and subject to the provisions in Section 5.4 5.5 as applicable to reimbursements of expenses that constitute taxable income to Executive; (d) all unpaid benefits that have been earned by or vested in Executive under, and subject to the terms of, the employee benefit plans, insurance policies, or arrangements of Company in which Executive participated through the Termination Date, paid in accordance with the terms of the employee benefit plans, insurance policies, or arrangements under which such amounts are due to Executive; and (e) an amount equal to all accrued and unused vacation pay, calculated in accordance with Company’s vacation policies, practices, and procedures, earned by Executive through the Termination Date, paid in accordance with the terms of Company’s policies, practices, and procedures regarding vacation pay; provided, however, that such payment will be made in a single sum cash payment within sixty (60) days after the Termination Date.

Appears in 1 contract

Samples: Executive Employment Agreement (Heelys, Inc.)

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