Common use of Monies and Benefits to Executive Clause in Contracts

Monies and Benefits to Executive. Upon such Change in Control, Executive shall be entitled to receive: (i) any Base Salary earned and unpaid, and fringe benefits described in Section 3.3 hereof accrued and unpaid, through the date of such Change in Control; (ii) two (2) times the aggregate of (x) the Base Salary plus (y) the Incentive Compensation at the Target Rate in effect as of the date of such Change in Control; (iii) any Incentive Compensation for the fiscal year in which such Change in Control occurs pro-rated through the date of such Change in Control; provided, however, Executive shall not receive any portion of the Incentive Compensation under this Section 4.6.1(iii) unless the Board determines in good faith that Executive would have been entitled to receive any Incentive Compensation for the fiscal year in which such Change in Control occurred in accordance with Section 3.2 hereof; (iv) continuation of the fringe benefits described in Sections 3.3 hereof under which Executive is participating as of the date of such Change in Control for a period of twelve (12) months from the date of such Change in Control; (v) payment of outplacement services for Executive for a period of twelve (12) months from the date of such Change in Control; provided, however, the aggregate amount of such payments shall not exceed $15,000.00; and (vi) continuation of the financial planning allowance described in Section 3.5 hereof for a period of twelve (12) months from the date of such Change in Control.

Appears in 5 contracts

Samples: Employment Agreement (Stage Stores Inc), Employment Agreement (Stage Stores Inc), Employment Agreement (Stage Stores Inc)

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Monies and Benefits to Executive. Upon such Change in ControlControl or termination, Executive shall be entitled to receive: (i) any Base Salary earned and unpaid, and fringe benefits described in Section 3.3 hereof accrued and unpaid, through the date of such Change in ControlControl or termination; (ii) two three (23) times the aggregate of (x) the Base Salary plus (y) the Incentive Compensation at the Target Rate in effect as of the date of such Change in ControlControl or termination; (iii) any Incentive Compensation for the fiscal year in which such Change in Control or termination occurs pro-rated through the date of such Change in ControlControl or termination; provided, however, Executive shall not receive any portion of the Incentive Compensation under this Section 4.6.1(iii) unless the Board determines in good faith that Executive would have been entitled to receive any Incentive Compensation for the fiscal year in which such Change in Control or termination occurred in accordance with Section 3.2 hereof; (iv) continuation of the fringe benefits described in Sections 3.3 hereof under which Executive is participating as of the date of such Change in Control or termination for a period of twelve thirty-six (1236) months from the date of such Change in ControlControl or termination; (v) payment of outplacement services for Executive for a period of twelve twenty-four (1224) months from the date of such Change in ControlControl or termination; provided, however, the aggregate amount of such payments shall not exceed $15,000.0015,000.00 per twelve (12) month period; and (vi) continuation of the financial planning allowance described in Section 3.5 hereof for a period of twelve thirty-six (1236) months from the date of such Change in ControlControl or termination.

Appears in 1 contract

Samples: Employment Agreement (Stage Stores Inc)

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Monies and Benefits to Executive. Upon such Change in ControlControl or termination, Executive shall be entitled to receive: (i) any Base Salary earned and unpaid, and fringe benefits described in Section 3.3 hereof accrued and unpaid, through the date of such Change in ControlControl or termination; (ii) two three (23) times the aggregate of (x) the Base Salary plus (y) the Incentive Compensation at the Target Rate in effect as your annual bonus target (65% of the date of such Change in ControlBase Salary); (iii) any Incentive Compensation performance bonus (65% of Base Salary) for the fiscal year in which such Change in Control or termination occurs pro-rated through the date of such Change in ControlControl or termination; provided, however, Executive shall not receive any portion of the Incentive Compensation performance bonus under this Section 4.6.1(iii) unless the Board determines in good faith that Executive would have been entitled to receive any Incentive Compensation performance bonus for the fiscal year in which such Change in Control or termination occurred in accordance with Section 3.2 hereof; (iv) continuation of the fringe benefits described in Sections 3.3 hereof under which Executive is participating as of the date of such Change in Control or termination for a period of twelve thirty-six (1236) months from the date of such Change in ControlControl or termination; (v) v payment of outplacement services for Executive for a period of twelve (12) months from the date of such Change in ControlControl or termination; provided, however, the aggregate amount of such payments shall not exceed $15,000.00; and (vi) continuation of the financial planning allowance described in Section 3.5 hereof for a period of twelve thirty-six (1236) months from the date of such Change in ControlControl or termination.

Appears in 1 contract

Samples: Employment Agreement (Stage Stores Inc)

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