Standard Termination Payments definition

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Standard Termination Payments means (i) a lump-sum amount equal to the sum of the Executive’s earned and unpaid Annual Base Salary through the Termination Date; (ii) any unreimbursed business and entertainment expenses that are reimbursable through the Termination Date; and (iii) any accrued but unused vacation as of the Termination Date. Moreover, for any such termination, the Executive shall be entitled to receive any vested benefits to which the Executive has a right under the Company’s benefit plans and programs, including without limitation continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, which benefits will be provided in accordance with the applicable plan terms.

Standard Termination Payments means (i) a lump-sum amount equal to the sum of the Executive’s earned and unpaid Annual Base Salary through the Termination Date and (ii) any unreimbursed business and entertainment expenses that are reimbursable through the Termination Date. Moreover, for any such termination, the Executive shall be entitled to receive any vested benefits to which the Executive has a right under the Company’s benefit plans and programs, including without limitation continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, which benefits will be provided in accordance with the applicable plan terms.

Examples of Standard Termination Payments in a sentence

In the event Executive’s employment is terminated for “Cause,” Executive shall not be entitled to receive any compensation or benefits under this Agreement except for the Standard Termination Payments.
In the event that Executive’s employment is terminated by the Company by reason of Total Disability, Executive shall not be entitled to receive any compensation or benefits under this Agreement except for the Standard Termination Payments; provided, however, that the Executive may separately be entitled to disability payments pursuant to a disability plan sponsored or maintained by the Company or any of its affiliates providing benefits to Executive.
Executive agrees, as a condition to receipt of any termination payments and benefits provided for in this Section 4 (other than the Standard Termination Payments), that Executive will execute a general release agreement, in a form reasonably satisfactory to the Company, releasing any and all claims arising out of Executive’s employment and the termination of such employment.
Executive agrees, as a condition to receipt of any termination payments provided for in this Section 4 (other than the Standard Termination Payments), that Executive will execute a general release agreement, in a form reasonably satisfactory to the Company, releasing any and all claims arising out of Executive’s employment and the termination of such employment.
For the avoidance of doubt, the Standard Termination Payments do not include any unvested portion of any annual incentive compensation or bonus.
In the event that the Bank terminates the employment of Executive pursuant to Section 3.2(a) for Cause, Executive will be entitled to receive a lump-sum amount equal to the Standard Termination Payments.
In such event, the Executive shall be entitled to receive the Executive’s normal compensation hereunder during said time of disability or incapacity, and shall thereafter be entitled to receive the “Disability Incentive Payment” (as described in the penultimate sentence of this subsection (b)) and the Standard Termination Payments (as set forth above).
In such event, the Executive shall be entitled to receive the Executive’s normal compensation hereunder during said time of disability or incapacity, and shall thereafter be entitled to receive the “Disability Incentive Payment” (as described in the last sentence of this subsection (b)) and the Standard Termination Payments.
The Company’s obligation to make any termination payments and benefits provided for in this Section 4 (other than the Standard Termination Payments) shall immediately cease if Executive willfully and materially breaches Section 5.1, 5.2 , 5.3, 5.4, or 5.8.
The Company’s obligation to make any termination payments and benefits provided for in this Section 4 (other than the Standard Termination Payments) shall immediately cease if Executive willfully or materially breaches Section 5.1, 5.2 , 5.3, 5.4, or 5.8.

More Definitions of Standard Termination Payments

Standard Termination Payments means: the sum of (1) ▇▇▇▇▇▇’ earned and unpaid salary through the effective date of the termination of his employment with the Company, (2) any bonus agreed to by the Company that has accrued but not yet been paid to ▇▇▇▇▇▇ on the effective date of the termination of his employment with the Company, (3) additional salary in lieu of ▇▇▇▇▇▇’ accrued and unused vacation, (4) any unreimbursed business and entertainment expenses in accordance with the Company’s policies and (5) any other amounts reimbursable to ▇▇▇▇▇▇ in accordance with the Company’s plans and policies;

Standard Termination Payments means Employee’s earned and unpaid Annual Base Salary through the Termination Date and any unreimbursed business and entertainment expenses that are reimbursable through the Termination Date.

Standard Termination Payments means (i) the Executive’s earned and unpaid Annual Base Salary through the Termination Date; (ii) any unreimbursed business and entertainment expenses that are reimbursable through the Termination Date; and (iii) any accrued but unused vacation as of the Termination Date. Moreover, for any such termination, the Executive shall be entitled to receive any vested benefits to which the Executive has a right under the Company’s benefit plans and programs, including without limitation continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, which benefits will be provided in accordance with the applicable plan terms.

Standard Termination Payments means earned and unpaid salary through the date of Executive’s termination of employment, any bonus definitively earned by Executive but not yet paid to Executive, additional salary in lieu of Executive’s accrued and unused vacation (to the extent such is paid in accordance with the Company’s policies for its executives generally), any unreimbursed business and entertainment expenses, each in accordance with the policies of the Company and its subsidiaries, and any unreimbursed employee benefit expenses that are reimbursable in accordance with the employee benefit plans of the Company and its subsidiaries through the date of Executive’s termination of employment. For the avoidance of doubt, the Standard Termination Payments do not include any unvested portion of any annual or long-term incentive compensation or bonus; provided however, that with respect to the payments set forth in Section 3.3(b), (c) and (e), the Standard Termination Payments shall also include (i) any earned Annual Bonus not yet paid to Executive for the prior calendar year and (ii) a pro-rata Annual Bonus for the current calendar year, which shall determined, at the Company’s discretion, by application of the current bonus accrual at the time of termination of employment to determine such pro-rated bonus amount or by deferring the portion of such prorated Annual Bonus until calculation of the actual Annual Bonus payable following the end of such year in accordance with the Company’s standard practices.