Common use of Termination by Mutual Written Agreement Clause in Contracts

Termination by Mutual Written Agreement. If the Executive’s employment is terminated during the Term by mutual agreement between the Executive and the Company, then the Company will pay the Executive (i) all accrued, but unpaid, wages based on the Executive’s then current Base Salary, through the termination date; (ii) any earned but unpaid bonus relating to the year prior to the termination date; and (iii) all unreimbursed business expenses with respect to which Executive is entitled to reimbursement as provided herein, provided that, to the extent not previously submitted, a request for reimbursement of business expenses is submitted in accordance with the Company’s policies within ten (10) business days of the Executive’s termination date. Payment of such amounts under subparagraphs (i), (ii) and (iii) (with respect to reimbursement requests submitted prior to the termination date) shall be made by the Company within thirty (30) business days after the Executive’s termination date; provided that with respect to those reimbursement requests submitted after the termination date, the payment date will be determined by the Company in its sole discretion, subject to Section 9 hereof. Except as provided in Section 10.2(e) and Section 11 hereof, the Company shall have no other obligations to the Executive under this Agreement; however, the Executive shall continue to be bound by Section 10 and all other post-termination obligations to which the Executive is subject, including, but not limited to, the obligations contained in this Agreement that survive the expiration or earlier termination of this Agreement, as provided herein.

Appears in 3 contracts

Samples: Employment Agreement (Trade Street Residential, Inc.), Employment Agreement (Trade Street Residential, Inc.), Employment Agreement (Trade Street Residential, Inc.)

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Termination by Mutual Written Agreement. If the Executive’s employment is terminated during the Term this Agreement terminates by mutual agreement between the Executive and the Company, then the Company will pay the Executive (i) all accrued, but unpaid, wages based on the Executive’s then current Base Salary, through the termination date; (ii) any all earned and accrued but unpaid bonus relating bonuses prorated to the year prior to the termination datedate of termination; and (iii) all unreimbursed business expenses with respect to which Executive is entitled to reimbursement as provided herein, provided that, to the extent not previously submitted, a request for reimbursement of business expenses is submitted in accordance with the Company’s policies within ten (10) business days of the Executive’s termination date. Payment of such amounts under subparagraphs (i), (ii) and (iii) (with respect to reimbursement requests submitted prior to the termination date) shall be made by the Company within thirty (30) business days after of the Executive’s termination date; provided that date with respect to those reimbursement requests submitted prior to the termination date and within thirty (30) days after the date of submission, for those submitted after the termination date, with the payment date will be determined by the Company in its sole discretion, subject to Section 9 hereof. Except as provided in Section 10.2(e) and Section 11 hereof, the Company shall have no other obligations to the Executive under this Agreement; however, the Executive shall continue to be bound by Section 10 and all other post-termination obligations to which the Executive is subject, including, but not limited to, the obligations contained in this Agreement that survive the expiration or earlier termination of this Agreement, as provided herein.

Appears in 2 contracts

Samples: Employment Agreement (Trade Street Residential, Inc.), Employment Agreement (Trade Street Residential, Inc.)

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Termination by Mutual Written Agreement. If the Executive’s employment is terminated during the Term this Agreement terminates by mutual agreement between the Executive and the Company, then the Company will pay the Executive (i) all accrued, but unpaid, wages based on the Executive’s then current Base Salary, through the termination date; (ii) any all earned and accrued but unpaid bonus relating bonuses prorated to the year prior to the termination datedate of termination; and (iii) all unreimbursed business expenses with respect to which Executive is entitled to reimbursement as provided herein, provided that, to the extent not previously submitted, a request for reimbursement of business expenses is submitted in accordance with the Company’s 's policies within ten (10) business days of the Executive’s 's termination date. Payment of such amounts under subparagraphs (i), (ii) and (iii) (with respect to reimbursement requests submitted prior to the termination date) shall be made by the Company within thirty (30) business days after of the Executive’s termination date; provided that date with respect to those reimbursement requests submitted prior to the termination date and within thirty (30) days after the date of submission, for those submitted after the termination date, with the payment date will be determined by the Company in its sole discretion, subject to Section 9 hereof. Except as provided in Section 10.2(e) and Section 11 hereof, the Company shall have no other obligations to the Executive under this Agreement; however, the Executive shall continue to be bound by Section 10 and all other post-termination obligations to which the Executive is subject, including, but not limited to, the obligations contained in this Agreement that survive the expiration or earlier termination of this Agreement, as provided herein.

Appears in 1 contract

Samples: Employment Agreement (Trade Street Residential, Inc.)

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