Common use of Compensation Generally Clause in Contracts

Compensation Generally. If the Executive’s employment with the Company is terminated for any reason, the Company shall pay or provide to the Executive (or to his executor, administrator, trustee or personal representative) (i) any Base Salary earned through the Date of Termination and unpaid expense reimbursements (subject to, and in accordance with, Section 2(d) of this Agreement); (ii) any Annual Bonus earned for the fiscal year ending prior to the Date of Termination to the extent not previously paid, unless the Executive is terminated for Cause, in which case the Annual Bonus will be forfeited; (iii) any accrued but unused vacation; and (iv) any vested benefits the Executive may have under any employee benefit plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans (collectively, the “Accrued Benefit”). In the event of death, disability, termination without Cause or termination by the Executive for Good Reason as set forth under Sections 3(a),(b), (d) or (e), the Executive (or the Executive’s executor, administrator, trustee or personal representative) shall also remain entitled to a prorated Annual Bonus, based on the full fiscal year financial results in which the Date of Termination occurred, based on actual performance to the Date of Termination, which shall be paid at the time and in the manner described in Section 2(b) and notwithstanding the fact that the Executive is not employed by the Company on the last day of the fiscal year or payment date to which the Annual Bonus relates.

Appears in 1 contract

Sources: Employment Agreement (SharkNinja, Inc.)

Compensation Generally. If the Executive’s 's employment with the Company is terminated for any reason, the Company shall pay or provide to the Executive (or to his executor, administrator, trustee or personal representative) (i) any Base Salary earned through the Date of Termination and unpaid expense reimbursements (subject to, and in accordance with, Section 2(d2(e) of this Agreement); (ii) any Annual Bonus earned for the fiscal year ending prior to the Date of Termination to the extent not previously paid, unless the Executive is terminated for Cause, in which case the Annual Bonus will be forfeited; (iii) any accrued but unused vacation; and (iv) any vested benefits the Executive may have under any employee benefit plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans (collectively, the "Accrued Benefit"). In the event of death, disability, termination without Cause or termination by the Executive for Good Reason as set forth under Sections 3(a),(b3(a), (b), (d) or (e), the Executive (or the Executive’s executive's executor, administrator, trustee or personal representative) ), shall also remain entitled to a prorated pro-rated Annual Bonus, based on the full fiscal year financial results in which the Date of Termination occurred, based on actual performance to the Date date of Terminationtermination, which shall be paid at the time and in the manner described in Section 2(b2(6) and notwithstanding the fact that the Executive is not employed by the Company on the last day of the fiscal year or payment due date to which the Annual Bonus relates.

Appears in 1 contract

Sources: Employment Agreement (SharkNinja, Inc.)