Examples of COC Employment Period in a sentence
The Employer agrees to continue to employ the Covered Executive, subject to the terms and conditions of the Plan, for the COC Employment Period.
If the Company determines in good faith that the Disability of the Executive has occurred during a COC Employment Period, it may give the Executive Notice of Termination.
During a COC Employment Period, the Executive shall receive, in accordance with the Company’s normal payroll practices in effect from time to time for its senior executives, an Annual Base Salary which shall be reviewed no more than 12 months after the last salary increase awarded to the Executive prior to the beginning of the COC Employment Period and thereafter at least annually.
The Executive may terminate his employment during the COC Employment Period for Good Reason.
If the Executive’s employment shall be terminated by the Company for Cause or voluntarily by the Executive without Good Reason during the COC Employment Period, the Employment Period shall terminate and the Company shall have no further obligations to the Executive other than the obligation to pay the Executive (i) his unpaid Annual Base Salary through the Termination Date, and (ii) any unpaid Other Benefits.
During the COC Employment Period, the office of the Executive shall be located at the principal offices of the Corporation, within the greater Toledo, Ohio area, and the Executive shall not be required to locate his office elsewhere without his prior written consent, nor shall he be required to be absent therefrom on travel status or otherwise more than thirty (30%) of the working days in any calendar year nor for more than ten (10) consecutive days at any one time.
During the COC Employment Period, it will not be a violation of this Article IV for the Covered Executive to (A) serve on corporate, civic or charitable boards or committees, (B) deliver lectures, fulfill speaking engagements or teach at educational institutions and (C) manage personal investments, so long as such activities do not significantly interfere with the performance of the Covered Executive’s responsibilities as an Executive in accordance with this Article IV.
In addition to Annual Base Salary, for each fiscal year ending during a COC Employment Period, Executive shall be awarded an annual bonus in cash at least equal to the Executive’s highest target incentive opportunity under the Incentive Plan for any of the past three years (the “Annual Bonus”).
During the COC Employment Period, the Annual Base Salary will be reviewed at least annually, beginning no more than 12 months after the last salary increase awarded to Executive prior to the COC Effective Date.
During the COC Employment Period, and excluding any periods of paid time off or sabbatical to which the Covered Executive is entitled, the Covered Executive agrees to devote reasonable attention and time during normal business hours to the business and affairs of the Employer and, to the extent necessary to discharge the responsibilities assigned to the Covered Executive hereunder, to use the Covered Executive’s reasonable best efforts to perform faithfully and efficiently such responsibilities.