Common use of Termination without Cause, for Good Reason or upon Consultant’s Death or Disability Clause in Contracts

Termination without Cause, for Good Reason or upon Consultant’s Death or Disability. Upon a termination of the Consulting Period (i) by the Company without Cause (including any termination by the Company due to Consultant’s disability), (ii) by Consultant for Good Reason or (iii) by reason of Consultant’s death, Consultant shall be entitled to the following payments and benefits: (A) the Company shall pay to Consultant a lump sum cash payment, within ten (10) days after the Date of Termination, in an amount equal to the sum of (x) if such termination occurs prior to the first anniversary of the Effective Date, the unpaid Consulting Fee that would have been paid for periods following termination of the Consulting Period through the first anniversary of the Effective Date and if such termination occurs after the first anniversary of the Effective Date and the Consulting Period has been extended as provided in Section 2, the unpaid Consulting Fee that would have been paid for periods following termination of the Consulting Period through the second anniversary of the Effective Date, (y) the Completion Bonus, if not previously paid and (z) the unpaid portion of the Retention Payment and (B) the Unvested Awards shall immediately vest in full. For the avoidance of doubt, the Parent Share Grant shall vest only as provided in Section 4.3.

Appears in 3 contracts

Samples: Consulting Agreement (Xto Energy Inc), Consulting Agreement (Xto Energy Inc), Consulting Agreement (Xto Energy Inc)

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Termination without Cause, for Good Reason or upon Consultant’s Death or Disability. Upon a termination of the Consulting Period (i) by the Company without Cause (including any termination by the Company due to Consultant’s disability), (ii) by Consultant for Good Reason or (iii) by reason of Consultant’s death, Consultant shall be entitled to the following payments and benefits: (A) the Company shall pay to Consultant a lump sum cash payment, within ten (10) days after the Date of Termination, in an amount equal to the sum of (x) if such termination occurs prior to the first anniversary of the Effective Date, the unpaid Consulting Fee that would have been paid for periods following termination of the Consulting Period through the first anniversary of the Effective Date and if such termination occurs after the first anniversary of the Effective Date and the Consulting Period has been extended as provided in Section 2, the unpaid Consulting Fee that would have been paid for periods following termination of the Consulting Period through the second anniversary of the Effective Date, Date and (y) the Completion Bonus, if not previously paid and (z) the unpaid portion of the Retention Payment and (B) the Unvested Awards shall immediately vest in full. For the avoidance of doubt, the Parent Share Grant shall vest only as provided in Section 4.3.

Appears in 1 contract

Samples: Consulting Agreement (Xto Energy Inc)

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Termination without Cause, for Good Reason or upon Consultant’s Death or Disability. Upon a termination of the Consulting Period (i) by the Company without Cause (including any termination by the Company due to Consultant’s disability), (ii) by Consultant for Good Reason or (iii) by reason of Consultant’s death, Consultant shall be entitled to the following payments and benefits: (A) the Company shall pay to Consultant a lump sum cash payment, within ten (10) days after the Date of Termination, in an amount equal to the sum of (x) if such termination occurs prior to the first anniversary of the Effective Date, the unpaid Consulting Fee that would have been paid for periods following termination of the Consulting Period through the first anniversary of the Effective Date and if such termination occurs after the first anniversary of the Effective Date and the Consulting Period has been extended as provided in Section 2, the unpaid Consulting Fee that would have been paid for periods following termination of the Consulting Period through the second anniversary of the Effective Date, (y) the Completion Bonus, if not previously paid and (z) the unpaid portion of the Retention Payment and (B) the Unvested Awards shall immediately vest in fullPayment. For the avoidance of doubt, the Parent Share Grant shall vest only as provided in Section 4.3.

Appears in 1 contract

Samples: Consulting Agreement (Xto Energy Inc)

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