Payments Following Termination. (a) In the event this Agreement is terminated by the Company for “just cause” as so defined, then (A) Executive shall be entitled to receive his Base Salary as provided in Section 5(a) accrued but unpaid as of the date of termination, plus a pro-rated bonus calculated as a fraction, the numerator of which is the preceding year’s Bonus multiplied by the number of months in the current calendar year (and fractions thereof) preceding the date of termination, and the denominator of which is twelve (12); (B) no restrictions that remain as to any shares of restricted stock shall lapse alter the date of termination and Executive shall forfeit any still-restricted shares to the Company; and (C) no option previously awarded but not yet vested shall vest after the date of termination, and all previously awarded, vested options shall terminate unless exercised within ninety (90) days of the date of termination.
(b) In the event this Agreement is terminated by the death of Executive, then the Company shall promptly pay Executive’s estate a lump sum payment equal to (i) his annual Base Salary as provided in Section 5(a) accrued but unpaid as of the date of death; (ii) a pro-rated bonus calculated as a fraction, the numerator of which is the preceding year’s Bonus multiplied by the number of months in the current calendar year (and fractions thereof) preceding the date of death, and the denominator of which is twelve (12), (iii) and all other unpaid amounts previously accrued or awarded pursuant to any other provision of this Agreement. In addition, all restrictions remaining on any shares of restricted stock shall lapse and any options to purchase shares referenced in Section 5 shall fully vest.
(c) In the event this Agreement is terminated (i) by the Company without “just cause,” or (ii) by the Executive with “good reason”, then (A) the Company will pay the Executive an immediate cash payment equal to two times Executive’s Base Salary plus Bonus for the applicable year or, in the case of the Bonus, for the immediately prior year; (B) the Company shall pay the Executive all unpaid amounts previously accrued or awarded pursuant to any other provision of this Agreement; (C) all restrictions remaining on any shares of restricted stock shall lapse and any options to purchase shares referenced in Section 5 shall fully vest.
(d) In the event this Agreement is terminated as a Control Termination, then (A) the Company will pay the Executive an immediate cash payment equal to t...
Payments Following Termination. (a) If the Employment is terminated for any reason, either by the Company or by the Executive’s resignation, then the Company shall pay the Executive the following amounts as part of the Company’s next regular payroll cycle but in no event later than thirty (30) days after the Termination Date, to the extent that the same have not already been paid;
(i) any and all Base Salary and vacation pay earned through the Termination Date; and
(ii) any reimbursable expenses properly reported by the Executive.
(b) Unless the Executive resigns without Good Reason or the Employment is terminated for Cause, then the Company shall pay (i) any applicable prorated annual bonus, based on actual performance for the year of termination as determined by the Board in its discretion when making bonus determinations for other Senior Executives and payable at such time as annual bonuses are otherwise determined for other Senior Executives and (ii) any accrued but unpaid annual bonus for the fiscal year immediately preceding the year of termination.
Payments Following Termination. (a) If the Employment is terminated for any reason, either by the Company or by the Executive’s resignation, then the Company shall pay the Executive the following amounts as part of the Company’s next regular payroll cycle but in no event later than thirty (30) days after the Termination Date, to the extent that the same have not already been paid:
(i) any and all salary and vacation pay earned through the Termination Date; and
(ii) any reimbursable expenses properly reported by the Executive.
(b) Unless the Executive resigns without Good Reason or the Employment is terminated for Cause, then the Company shall pay any applicable prorated Bonus Potential Earned for the bonus period in which such termination occurs at the same time that payments are made to other participants in the Company Bonus Plan.
Payments Following Termination. (a) In the event Executive's employment is terminated by the Company for Just Cause as so defined, or if Executive resigns (other than where such resignation is for Good Reason), then the Company shall pay Executive a cash payment equal to his annual Base Salary as provided in Section 5(a) hereof to the extent earned but unpaid as of the date of termination (the "Unpaid Salary"). No bonus will be earned or paid after the date of termination, and if such date of termination occurs prior to the first anniversary of the Effective Date, Executive shall return to the Company the bonus described in Section 5(c). Any options or restricted stock held by Executive on the date of termination shall vest only through the date of termination according to the normal vesting schedule applicable to such options or restricted stock, and Executive shall not receive any accelerated or additional vesting of such stock or options on or after such date.
(b) In the event Executive's employment is terminated by the death of Executive, then the Company shall pay Executive's estate, as soon as practicable, (i) a cash payment equal to one times Executive's Base Salary described in Section 5(a), (ii) the Unpaid Salary, and (iii) the Unpaid Prior Year's Bonus. Any options or restricted stock held by Executive on the date of termination shall vest only through the date of Executive's death according to the normal vesting schedule applicable to such options or restricted stock, and Executive shall not receive any accelerated or additional vesting of such stock or options on or after such date.
(c) In the event that Executive is terminated by the Company without Just Cause, or that Executive's employment is terminated by the Executive for Good Reason, other than in a Control Termination, and other than pursuant to Section 7, then the Company shall pay Executive, within 10 business days after the date of termination (i) the Unpaid Salary, (ii) the sum of the Unpaid Prior Year's Bonus plus the Target Bonus (prorated for the partial year period ending on the date of termination), (iii) a cash payment equal to two times his annual Base Salary as provided in Section 5(a) hereof, reduced, if such date of termination occurs prior to the first anniversary of the Effective Date, by one-half of the bonus described in Section 5(c), and (iv) a cash payment equal to two times the Target Bonus payable pursuant to Section 5(b). Any options or restricted stock held by Executive on the date of terminatio...
Payments Following Termination. Upon any termination of this Agreement, the Company shall pay to Executive that portion of the Base Salary which he earned for services performed up to the effective date of termination for which he has not previously been compensated. In addition, upon any termination pursuant to Section 8(d), the Company also shall pay to Executive an amount (the "Severance Amount") equal to fifty percent (50%) of Base Salary. The Severance Amount shall be paid to Executive in twelve (12) equal monthly installments, beginning on the first day of the month following the effective date of Executive's termination.
Payments Following Termination. Upon termination of his employment under this Agreement, Company shall only be required to pay to Executive such portion of the Base Salary as shall have accrued and remain unpaid through the effective date of termination, and shall have no further obligation whatsoever to Executive, other than reimbursement of previously incurred expenses which are appropriately reimbursable under Company’s policies regarding expense reimbursement. Such amounts shall be paid no later than thirty (30) days after the termination of his employment. The foregoing notwithstanding, in the event termination of employment is due to the death of Executive, then Company shall continue to pay to Executive’s estate his Base Salary for the period through the end of the calendar month in which such death occurs. Such amounts shall be paid no later than thirty (30) days after his death.”
Payments Following Termination. Following termination of this Agreement, whether for any of the reasons specifically set forth above or for any other reason, the Company shall have no obligation to make payments to or bestow benefits upon Xxxxxxx after the date of termination except as may be required by law, as described in this subsection (b), and under the 2019 Plan or any successor thereto (to the extent not otherwise provided for in this Agreement). References under this Agreement to Xxxxxxx’x termination of employment or the termination of this Agreement shall be deemed to refer to the date upon which Xxxxxxx has experienced a “separation from service” within the meaning of Code Section 409A, as defined below:
i. In the event of termination of this Agreement by the Company pursuant to Section 6(a)(i) as the result of Xxxxxxx’x death or Disability, Xxxxxxx or her estate shall be entitled to receive base compensation as set forth in Section 4 above for a period of 180 days following Xxxxxxx’x death or Disability as though Xxxxxxx were continuing to provide services to the Company under this Agreement. Any such payment shall be in addition to, and not in lieu of, any payments made pursuant to any Company provided death or disability benefit plans.
ii. In the event of termination of this Agreement by the Company concurrently with or following a Change in Control pursuant to Section 6(a)(ii) above, Xxxxxxx shall be entitled to receive (i) base compensation as set forth in Section 4 above for a period of twelve (12) months following the effective date of termination, as though Xxxxxxx were continuing to provide services to the Company under this Agreement, and (ii) for a period of twelve (12) months following the effective date of termination, all Other Compensation as described in Section 5(c) above to the extent that such benefits can then lawfully be made available by the Company (or the Company’s successor in interest) to Xxxxxxx.
iii. In the event of termination of this Agreement by the Company for Cause pursuant to Section 6(a)(iii) above, or in the event of termination of this Agreement by Xxxxxxx without Cause pursuant to Section 6(a)(v) above, the Company shall have no further liability or obligation to Xxxxxxx under this Agreement other than the Company's obligation to pay base compensation as set forth in Section 4 above and fringe benefits as described in Section 5(c) above, all to the extent that such base compensation or fringe benefits are accrued but unpaid or unissued as...
Payments Following Termination. If the Employment is terminated for any reason, either by the Company or by the Executive's resignation, then the Company shall pay the Executive the following amounts as part of the Company's next regular payroll cycle but in no event later than thirty (30) days after the Termination Date, to the extent that the same have not already been paid:
(a) any and all salary and vacation pay earned through the Termination Date; and
(b) any reimbursable expenses properly reported by the Executive. The Company shall also pay any Bonus Potential Earned at the same time that payments are made to other participants in the Corporate Bonus Plan.
Payments Following Termination. Upon termination of his employment under this Agreement, Company shall only be required to pay to Executive such portion of the Base Salary and Draw as shall have accrued and remain unpaid through the effective date of termination, and shall have no further obligation whatsoever to Executive, other than reimbursement of previously incurred expenses which are appropriately reimbursable under Company’s policies regarding expense reimbursement. The foregoing notwithstanding, in the event termination of employment is due to the death of Executive, then Company shall continue to pay to Executive’s estate his Base Salary and Draw for the period through the end of the calendar month in which such death occurs. Executive shall be paid any Success Fee due Executive as of the end of the fiscal year of the Company during which the termination occurs, for any transaction which has closed in such fiscal year, subject to offset for any Draw paid Executive for such fiscal year through the date of termination.
Payments Following Termination. (a) If (i) the Employee is terminated (other than for Cause), or (ii) the Employee resigns for Good Reason, or (iii) the term of this Agreement expires and the parties have not mutually agreed upon an extension of the Employee's employment beyond February 29, 2000.
(1) The Company will, for a period of two years following the last day of the Employee's actual employment with the Company (the "Exit Date"), continue to pay the Employee his full compensation in effect at the time of the Exit Date (including providing all fringe benefits);
(2) The Company will, for a period of two years following the Exit Date, at its expense, arrange to provide continuing health and major medical insurance coverage substantially similar to the insurance coverage provided immediately prior to the Exit Date; and
(3) The Company shall reimburse the Employee for all legal fees, costs, and expenses (including, without limitation, legal fees and expenses on appeal) incurred by the Employee in enforcing this Agreement.
(b) The Employee shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor shall the amount of any payment provided for in this Section 7 be reduced by any compensation earned by the Employee as a result of employment by another employer or otherwise.
