Termination of Employment in Connection with a Change in Control. If there is a termination of the Employment Period in connection with a Change in Control, in addition to the Accrued Rights, subject to the Executive’s compliance with Section 7(d), the Company will provide the Executive the following: (i) a lump sum payment equal to twenty-four (24) months of Executive’s base salary in effect as of the Termination Date; (ii) a lump sum payment equal to the Annual Bonus amount paid at the target amount for the year in which the Termination Date occurs; (iii) the COBRA Continuation Payments provided in Section 7(b)(iii); and (iv) the rights of the Executive with respect to any equity or equity-related awards (if any) which shall be governed by the applicable terms of the related plan or award agreement.
Appears in 3 contracts
Sources: Employment Agreement (Tru Shrimp Companies, Inc.), Employment Agreement (Tru Shrimp Companies, Inc.), Employment Agreement (Tru Shrimp Companies, Inc.)