Rights of Executive Upon Termination. Subject to the Executive’s adherence to the terms of this Agreement, including but not limited to the non-competition, no-hire/non-solicitation and non-disclosure provisions set forth below, the Executive shall be entitled to receive the following benefits in the event his employment is terminated pursuant to Section 4 above prior to the expiration of the Term specified in Section 3 above.
Rights of Executive Upon Termination. (a) In the event that Executive's employment is terminated (i) pursuant to Sections 3.1(a) or (b), (ii) by the Company pursuant to Section 3.1(c), (iii) by the Company with Cause pursuant to Section 3.1(d) or (iv) due to a resignation by Executive pursuant to Section 3.1(e) without Good Reason (as defined), the Company shall have no further obligation to Executive under this Agreement except for payment to Executive of (A) his accrued, but unpaid Base Salary through the date of termination, (B) any unreimbursed expenses, subject to any right of set-off, and (c) if terminated pursuant to Sections 3.1(a) or (b), the Company will reimburse Executive (or his qualified beneficiaries) for the same portion of Executive's family COBRA health insurance premium (if continued coverage under COBRA is elected) that it paid during the Executive's employment for at least 12 months after the date of Executive's termination and the Executive or his estate shall be entitled to any unpaid annual bonus from any prior performance year.
Rights of Executive Upon Termination. In the event that Executive’s employment is terminated for any reason or no reason, the Company shall have no further obligation to Executive under this Agreement except for payment, subject to any right of set-off, to Executive of (A) Executive’s accrued, but unpaid Base Salary through the date of termination, (B) accrued but unused vacation (to the extent legally required to be paid), and (C) any unreimbursed expenses , subject to Section 2.4. In addition, in the event that Executive is terminated by the Company without cause (as defined below), Executive shall be entitled to severance (“ Severance”) of continued payment of Executive’s Base Salary in effect at the time of termination of employment for a period of twelve (12) months following such termination in accordance with the Company’ s regular payroll practices. Notwithstanding the foregoing, receipt of Severance shall be conditioned upon Executive executing a customary release within thirty (30) days of the receipt thereof by the Company. Such customary release may not include the release of disputes or claims relating to Executive ‘ s participation in the Splash Beverage Stock / Equity Plan. Provided such customary release has been signed and not revoked, such severance payments shall begin on the next regular payroll date after the 45th day after the Executive’s termination date in accordance with the Company’ s regular payroll practices and with such payroll deductions and withholdings as required by law.
Rights of Executive Upon Termination. Executive shall not be entitled to any compensation or benefits upon any termination of this Agreement except to the extent provided in this Section 7. In the event of termination by the Bank without Cause, the Bank shall pay Executive, and Executive agrees to accept from the Bank, as Executive's sole and exclusive remedy for termination (i) if such termination is prior to Dec mber 31, 1998, an amount equivalent to the Executive's annual base salary as defined in Section 3(a) hereof remaining to be paid to Executive through December 31, 1999 or (ii) if such termination is after December 31, 1998, an amount equal to Executive's then current annual base salary. Such payment may be paid, at the Bank's option, in a lump sum or in equal installments through the Bank's normal payroll system over the course of the ensuing year. In the event of termination of employment hereunder for any reason other than termination by the Bank without Cause, Executive shall receive only the compensation accrued through the date of termination.
Rights of Executive Upon Termination. (a) The Company shall provide the Executive, within thirty days following the Termination Date, Severance Compensation in lieu of compensation to the Executive for periods subsequent to the Termination Date, if, the Company terminates the Executive's employment during the Term, other than for any of the following reasons;
Rights of Executive Upon Termination. In the event that Executive’s employment is terminated for any reason or no reason, the Company shall have no further obligation to Executive under this Agreement except for payment to Executive of (A) his accrued, but unpaid Base Salary (as of termination) through the date of termination, (B) any accrued but unused vacation (if and to the extent consistent with the Company’s policies), (C) any unreimbursed expenses, and (D) if it has not previously been paid to Executive, Executive shall be paid any Bonus that has been earned by Executive for any fiscal year ending prior to the effective date of such termination but not yet paid, any Bonus for the period in which termination occurred, prorated for the partial period, any rights under any benefit or equity plan, program or practice and his rights to indemnification and directors and officers liability insurance (collectively, the “Required Payments”).
Rights of Executive Upon Termination. In the event that Executive’s employment is terminated for any reason or no reason, the Company shall have no further obligation to Executive under this Agreement except for payment to Executive of (A) his accrued, but unpaid Base Salary (as of termination) through the date of termination, (B) any accrued but unused vacation (if and to the extent consistent with the Company’s policies), (C) any unreimbursed expenses, and (D) if it has not previously been paid to Executive, Executive shall be paid any Bonus that has been earned by Executive for any fiscal year ending prior to the effective date of such termination but not yet paid; any Bonus for the period in which termination occurred, prorated for the partial period with the amount, if any, based on actual performance and paid when bonuses for the applicable period are paid to other senior executives of Parent or the Company; any rights under any benefit or equity or long-term incentive plan, program or practice; and his rights to indemnification and directors and officers liability insurance (collectively, the “Required Payments”).
Rights of Executive Upon Termination. Executive shall not be entitled to any compensation or benefits upon any termination of this Agreement except to the extent provided in this Section 7. In the event of termination by the Bank without Cause prior to December 31, 1998, or in the event of a termination without Cause in an subsequent one-year term, the Bank shall pay Executive, and Executive agrees to accept from the Bank, as Executive's sole and exclusive remedy for termination, an amount equivalent to the Executive's current annual base salary as defined in Section 3(a) hereof, which amount may be paid, at the Bank's option, in a lump sum or in equal installments through the Bank's normal payroll system over the course of the ensuing year. In the event of termination of employment hereunder for any reason other than termination by the Bank without Cause, Executive shall receive only the compensation accrued through the date of termination.
Rights of Executive Upon Termination. In the event that Executive’s employment is terminated for any reason, the Company shall have no further obligation to Executive under this Agreement except for payment or provision to Executive of (u) his accrued, but unpaid Base Salary (as of termination) through the date of termination, (v) any accrued but unused vacation (if and to the extent consistent with the Company’s policies), (w) any unreimbursed expenses, (x) any Bonus that has been earned by Executive for any fiscal year ending prior to the effective date of such termination but not yet paid, (y) any rights under any benefit or equity plan, and (z) any ongoing rights to indemnification and directors and officers liability insurance (collectively, the “Required Payments”).
Rights of Executive Upon Termination. Executive shall not be entitled to any compensation or benefits upon any termination of employment by the Bank except to the extent provided in this Section 7. In the event of termination by the Bank without Cause during the Term, the Bank shall pay Executive, and Executive agrees to accept from the Bank, as Executive's sole and exclusive remedy for termination, an amount equivalent to the lesser of (i) the Executive's current annual base salary as defined in Section 3(a) hereof or (ii) the amount of base salary payable to Executive through the end of the Term, which amount may be paid, at the Bank's option, in a lump sum or in equal installments through the Bank's normal payroll system over the course of the ensuing year. A failure to renew the term of employment hereunder for an additional one-year term shall not be deemed for purposes of this Agreement to be termination without Cause. In the event of termination of employment hereunder for any reason other than termination by the Bank without Cause, Executive shall receive only the compensation and benefits accrued through the date of termination.
