Payments upon Termination for Cause. If Executive’s employment is terminated for Cause by Company, all outstanding unvested equity awards will be forfeited and the Executive will be entitled solely to (i) accrued and unpaid Base Salary to the date of termination, (ii) the accrued and unused vacation to the date of termination, (iii) unpaid expense reimbursements under Section 5, and (iv) vested amounts under qualified retirement plans.
Appears in 2 contracts
Sources: Employment Agreement (Condor Hospitality Trust, Inc.), Employment Agreement (Supertel Hospitality Inc)