Payment of Bonus; Effect of Termination of Employment Sample Clauses

Payment of Bonus; Effect of Termination of Employment. (a) Triggering Event. In the event of a Change of Control occurring on or before December 31, 2025, as long as the Employee has maintained continuous employment with the Company or its successor from the Effective Date hereof through the Payment Date, Employee shall be entitled to receive the Bonus. The Company or its successor shall pay such Bonus to the Employee not later than five (5) business days after the Payment Date.
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Payment of Bonus; Effect of Termination of Employment a. Triggering Event for Financing Bonus. Upon the achievement by the Company of a Financing Transaction — Level One and/or a Financing Transaction — Level Two, and as long as Employee has maintained continuous employment with the Employer or the Company from the Effective Date hereof through the respective payment dates of any Financing Bonus (except as otherwise provided in Section 2.d. below), Employee shall be entitled to receive the applicable Financing Bonus, not to exceed four (4) months of salary in the aggregate.
Sample 1

Related to Payment of Bonus; Effect of Termination of Employment

  • Effect of Termination of Employment The provisions of this Section 6 shall apply in the event of termination of Executive’s employment, pursuant to Section 5, or otherwise.

  • TERMINATION OF EMPLOYMENT; EFFECT OF TERMINATION (a) The Term of Employment may be terminated by the Company at any time:

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Effect of Termination of Service Except as otherwise provided in accordance with Section 4(b) above, if you cease to be a Service Provider, you will forfeit all unvested Units.

  • Payments Upon Termination of Employment (a) If Executive's employment with the Company is terminated by reason of:

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

  • Term and Termination of Employment (a) This Agreement shall be effective as of the Effective Date.

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Termination Effect of Termination 29 7.1 Termination................................................................. 29 7.2

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