Common use of Final Compensation Clause in Contracts

Final Compensation. In the event of termination of Employee’s employment with the Company, howsoever occurring, the Company shall pay Employee (i) the Base Salary for the final payroll period of Employee’s employment, pro-rated through the date that Employee’s employment terminates; (ii) compensation at the rate of the Base Salary for any accrued, unused vacation time; and (iii) reimbursement, in accordance with Section 2(e) hereof, for business expenses incurred by Employee but not yet paid to Employee as of the date Employee’s employment terminates; provided Employee submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s employment terminates, and provided further that such expenses are reimbursable under Company policies as then in effect (all of the foregoing, “Final Compensation”). Except as otherwise provided in Section 4(a)(iii), Final Compensation will be paid to Employee within thirty (30) days following the date of termination (or such shorter period required by law).

Appears in 4 contracts

Samples: Employment Agreement (EyePoint Pharmaceuticals, Inc.), Employment Agreement (EyePoint Pharmaceuticals, Inc.), Employment Agreement (EyePoint Pharmaceuticals, Inc.)

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Final Compensation. In the event of termination of Employeethe Executive’s employment with the Company, howsoever occurring, the Company shall pay Employee the Executive (i) the Base Salary for the final payroll period of Employee’s his employment, pro-rated through the date that Employee’s his employment terminates; (ii) any bonus in respect of a prior year which has not yet been paid, payable at such time when such bonus would otherwise have been paid; (iii) compensation at the rate of the Base Salary for any accrued, unused vacation timetime earned but not used as of the date his employment terminates; and (iiiiv) reimbursement, in accordance with Section 2(e2(f) hereof, for business expenses incurred by Employee the Executive but not yet paid to Employee the Executive as of the date Employee’s his employment terminates; , provided Employee that the Executive submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s his employment terminates, and provided further that such expenses are reimbursable under Company policies as then in effect (all of the foregoing, “Final Compensation”). Except as otherwise provided in Section 4(a)(iiiSections 5(a)(ii) and 5(a)(iii), Final Compensation will be paid to Employee the Executive within thirty (30) days following the date of termination (or such shorter period required by law).

Appears in 3 contracts

Samples: Employment Agreement (Cerevel Therapeutics Holdings, Inc.), Employment Agreement (Cerevel Therapeutics Holdings, Inc.), Employment Agreement (Cerevel Therapeutics Holdings, Inc.)

Final Compensation. In the event of termination of Employeethe Executive’s employment with the Company, howsoever occurring, the Company shall pay Employee the Executive (i) the Base Salary for the final payroll period of Employee’s his employment, pro-rated through the date that Employee’s his employment terminates; (ii) compensation at the rate of the Base Salary for any accrued, unused vacation timetime earned but not used as of the date his employment terminates; (iii) any earned but unpaid annual bonus for the year prior to the year in which his employment terminates (which shall be paid at the same time that annual bonuses for such year are paid to similarly-situated active employees of the Company); and (iiiiv) reimbursement, in accordance with Section 2(e) hereof, for business expenses incurred by Employee the Executive but not yet paid to Employee the Executive as of the date Employee’s his employment terminates; , provided Employee that the Executive submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s his employment terminates, and provided further that such business expenses are reimbursable under Company policies as then in effect (all of the foregoing, “Final Compensation”). Except as otherwise provided in Section 4(a)(iii5(a)(iii) or 5(a)(iv), Final Compensation will be paid to Employee the Executive within thirty (30) days following the date of termination (or such shorter period required by law).

Appears in 3 contracts

Samples: Employment Agreement (Advent Technologies Holdings, Inc.), Employment Agreement (Advent Technologies Holdings, Inc.), Employment Agreement (Advent Technologies Holdings, Inc.)

Final Compensation. In the event of termination of Employee’s employment with the Company, howsoever occurring, the Company shall pay Employee (i) the Base Salary for the final payroll period of Employee’s employment, pro-rated through the date that Employee’s employment terminates; (ii) compensation at the rate of the Base Salary for any accrued, unused vacation time; and (iii) reimbursement, in accordance with Section 2(e) hereof, for business expenses incurred by Employee but not yet paid to Employee as of the date Employee’s employment terminates; provided Employee submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s employment terminates, and provided further that such expenses are reimbursable under Company policies as then in effect (all of the foregoing, "Final Compensation"). Except as otherwise provided in Section 4(a)(iii5(a)(iii), Final Compensation will be paid to Employee within thirty (30) days following the date of termination (or such shorter period required by law).

Appears in 3 contracts

Samples: Employment Agreement (EyePoint Pharmaceuticals, Inc.), Employment Agreement (EyePoint Pharmaceuticals, Inc.), Employment Agreement (EyePoint Pharmaceuticals, Inc.)

Final Compensation. In the event of termination of Employee’s employment with the Company, howsoever occurring, the Company shall pay Employee (i) the Base Salary for the final payroll period of Employee’s employment, pro-rated through the date that Employee’s employment terminates; (ii) compensation at the rate of the Base Salary for any accrued, unused vacation time; and (iii) reimbursement, in accordance with Section 2(e) hereof, for business expenses incurred by Employee but not yet paid to Employee as of the date Employee’s employment terminates; provided Employee submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s employment terminates, and provided further that such expenses are reimbursable under Company policies as then in effect (all of the foregoing, “Final Compensation”). Except as otherwise provided in Section 4(a)(iii5(a)(iii), Final Compensation will be paid to Employee within thirty (30) days following the date of termination (or such shorter period required by law).

Appears in 1 contract

Samples: Employment Agreement (EyePoint Pharmaceuticals, Inc.)

Final Compensation. In the event of termination of Employee’s the Executive's employment with the Company, howsoever occurring, the Company shall pay Employee the Executive (i) the Base Salary for the final payroll period of Employee’s her employment, pro-rated through the date that Employee’s her employment terminates; (ii) any bonus in respect of a prior year which has not yet been paid, payable at such time when such bonus would otherwise have been paid; (iii) compensation at the rate of the Base Salary for any accrued, unused vacation timetime earned but not used as of the date her employment terminates; and (iiiiv) reimbursement, in accordance with Section 2(e2(f) hereof, for business expenses incurred by Employee the Executive but not yet paid to Employee the Executive as of the date Employee’s her employment terminates; , provided Employee that the Executive submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s her employment terminates, and provided further that such expenses are reimbursable under Company policies as then in effect (all of the foregoing, "Final Compensation"). Except as otherwise provided in Section 4(a)(iiiSections 5(a)(ii) and 5(a)(iii), Final Compensation will be paid to Employee the Executive within thirty (30) days following the date of termination (or such shorter period required by law).

Appears in 1 contract

Samples: Employment Agreement (Cerevel Therapeutics Holdings, Inc.)

Final Compensation. In the event of termination of Employee’s the Executive's employment with the Company, howsoever occurring, the Company shall pay Employee the Executive (i) the Base Salary for the final payroll period of Employee’s his employment, pro-rated through the date that Employee’s his employment terminates; (ii) any bonus in respect of a prior year which has not yet been paid, payable at such time when such bonus would otherwise have been paid; (iii) compensation at the rate of the Base Salary for any accrued, unused vacation timetime earned but not used as of the date his employment terminates; and (iiiiv) reimbursement, in accordance with Section 2(e2(f) hereof, for business expenses incurred by Employee the Executive but not yet paid to Employee the Executive as of the date Employee’s his employment terminates; , provided Employee that the Executive submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s his employment terminates, and provided further that such expenses are reimbursable under Company policies as then in effect (all of the foregoing, "Final Compensation"). Except as otherwise provided in Section 4(a)(iiiSections 5(a)(ii) and 5(a)(iii), Final Compensation will be paid to Employee the Executive within thirty (30) days following the date of termination (or such shorter period required by law).

Appears in 1 contract

Samples: Employment Agreement (Cerevel Therapeutics Holdings, Inc.)

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Final Compensation. In the event of termination of Employeethe Executive’s employment with the Company, howsoever occurring, the Company shall pay Employee the Executive (i) the Base Salary for the final payroll period of Employee’s his employment, pro-rated through the date that Employee’s his employment terminates; (ii) compensation at the rate of the Base Salary for any accrued, unused vacation timetime earned but not used as of the date his employment terminates; (iii) any earned but unpaid annual bonus for the year prior to the year in which his employment terminates (which shall be paid at the same time that annual bonuses for such year are paid to similarly-situated active employees of the Company); and (iiiiv) reimbursement, in accordance with Section 2(e) and (g) hereof, for business expenses incurred by Employee the Executive but not yet paid to Employee the Executive as of the date Employee’s his employment terminates; , provided Employee that the Executive submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s his employment terminates, and provided further that such business expenses are reimbursable under Company policies as then in effect (all of the foregoing, “Final Compensation”). Except as otherwise provided in Section 4(a)(iii5(a)(iii) or 5(a)(iv), Final Compensation will be paid to Employee the Executive within thirty (30) days following the date of termination (or such shorter period required by law).

Appears in 1 contract

Samples: Employment Agreement (Advent Technologies Holdings, Inc.)

Final Compensation. In the event of termination of Employee’s employment with the Company, howsoever occurring, the Company shall pay Employee (i) the Base Salary for the final payroll period of Employee’s employment, pro-rated through the date that Employee’s employment terminates; (ii) compensation at the rate of the Base Salary for any accrued, unused vacation time; and (iii) reimbursement, in accordance with Section 2(e2(f) hereof, for business expenses incurred by Employee but not yet paid to Employee as of the date Employee’s employment terminates; provided Employee submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s employment terminates, and provided further that such expenses are reimbursable under Company policies as then in effect (all of the foregoing, "Final Compensation"). Except as otherwise provided in Section 4(a)(iii5(a)(iii), Final Compensation will be paid to Employee within thirty (30) days following the date of termination (or such shorter period required by law).

Appears in 1 contract

Samples: Employment Agreement (EyePoint Pharmaceuticals, Inc.)

Final Compensation. In the event of termination of Employee’s employment with the Company, howsoever occurring, the Company shall pay Employee (i) the Base Salary for the final payroll period of Employee’s employment, pro-rated through the date that Employee’s employment terminates; (ii) compensation at the rate of the Base Salary for any accrued, unused vacation time; and (iii) reimbursement, in accordance with Section 2(e2(g) hereof, for business expenses incurred by Employee but not yet paid to Employee as of the date Employee’s employment terminates; provided Employee submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s employment terminates, and provided further that such expenses are reimbursable under Company policies as then in effect (all of the foregoing, “Final Compensation”). Except as otherwise provided in Section 4(a)(iii), Final Compensation will be paid to Employee within thirty (30) days following the date of termination (or such shorter period required by law).

Appears in 1 contract

Samples: Employment Agreement (EyePoint Pharmaceuticals, Inc.)

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