Severance Payments; Salary and Benefits. The Company agrees to provide Employee with the severance payments and benefits described in Section 4(b) of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to Employee all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.
Severance Payments; Salary and Benefits. The Company agrees to provide Employee with the severance payments and benefits described in Section 4(b) of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to the Employee all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.
Severance Payments; Salary and Benefits. The Company agrees to provide Executive with the severance payments and benefits described in Section 4(b) of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to Executive all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof, including, but not limited to, tax equalization and relocation/repatriation and other expatriate assignment benefits due to Executive in connection with employment outside the United States.
Severance Payments; Salary and Benefits. The Company agrees to provide Employee with the severance payments and benefits described in Section 4(b) of the Employment Agreement subject to the terms and conditions of, the Employment Agreement, provided that the Severance Payments will be paid in the form of salary continuation payments in regular installments over the twelve (12) month period following the termination/expiration of the Consulting Agreement instead of the twelve (12) month period following the Date of Termination as currently set forth in the Employment Agreement. In addition, the Employee and the Company agree to extend the Restriction Period, as provided in the Consulting Agreement. Notwithstanding the foregoing, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall promptly pay or provide to Employee all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.
Severance Payments; Salary and Benefits. The Company and PGA agree to provide Employee with the severance payments and benefits described in Section 4(b)(i) of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company and PGA shall pay or provide to the Employee all other payments or benefits described in Section 4(a) of the Employment Agreement, subject to and in accordance with the terms thereof.
Severance Payments; Salary and Benefits. (a) If Executive remains continuously employed by the Company through August 18, 2020 or if the Company terminates Executive’s employment on or prior to August 18, 2020 for reasons other than Cause or material breach of this Agreement, then subject to Executive’s continued compliance with the RCA and Executive’s execution and delivery to the Company of the release of claims attached hereto as Addendum 1 (the “Bring-Down Release”) before the later of 30 days following the Separation Date and 45 days following the date this Agreement was first provided to Executive (and the Bring-Down Release becoming effective and irrevocable), Executive will be entitled to the severance payments and benefits provided in Sections 2(a)(i) – (iii).
Severance Payments; Salary and Benefits. (a) The Company agrees to provide Executive with the severance payments and benefits described in Section 2(b) below, payable at the times set forth in, and subject to the terms and conditions of, such Section. In addition, upon termination of Executive’s employment for any reason, to the extent not already paid, the Company shall pay or provide to Executive (i) Executive’s earned but unpaid annual base salary and unused vacation days accrued through the Separation Date; (ii) any unpaid business expenses incurred by Executive prior to the Separation Date that are reimbursable under the Company’s expense reimbursement policy; and (iii) any amount accrued and arising from Executive’s participation in, or benefits accrued under any employee benefit plans, programs or arrangements of the Company, which amounts shall be payable in accordance with the terms and conditions of such employee benefit plans, programs or arrangements.
Severance Payments; Salary and Benefits. The Company agrees to provide Executive with the severance payments and benefits described in Section 4(b), including (but not limited to) up to 12 months of COBRA premiums, and Section 4(c) of the Employment Agreement, in each case, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement, provided that, (i) in lieu of the cash payment set forth in Section 4(b)(i) of the Employment Agreement, Executive shall receive an amount in cash equal to $237,000, payable in equal installments in accordance with the Company’s normal payroll practices over the 6-month period beginning December 1, 2018 (with amounts that would otherwise be paid prior to effectiveness of this Agreement being accumulated and paid in a lump sum on the first ordinary payroll date following the date this Agreement becomes effective), and (ii) in lieu of a prorated portion of the Annual Bonus as set forth in Section 4(b)(ii) of the Employment Agreement, Executive shall receive 100% of the Annual Bonus for calendar year 2018 based on actual performance as determined by the Board or an authorized committee thereof and paid in a lump sum at the same time annual bonuses are paid generally to other actively employed executive employees of the Company, but no later than March 15, 2019. Further, for 12 months following the Separation Date, the Company will pay the premiums to continue Executive’s international health coverage with GeoBlue and long-term care coverage with Transamerica. Executive will be responsible for the employee portion of any taxes owed as a result of the premium payments. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to Executive all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.
Severance Payments; Salary and Benefits. The Company agrees to provide Executive with (i) a one-time payment of $557,882 (Five Hundred Fifty Seven Thousand Eight Hundred Eighty Two and 00/100 United States Dollars) by the later of June 19, 2020 or 5 days following the Effective Date (the “Separation Payment”), and (ii) to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, all other payments or benefits payable to Employee under Section 3(c)(i), Section 3(c)(iii) and Section 3(c)(v) of the Employment Agreement. Other than as set forth in the immediately preceding sentence, Executive acknowledges and agrees that the Separation Payment is in lieu of any payments or benefits he would have otherwise been entitled to under the Employment Agreement, including, but not limited to, Section 2(b), Section 3(c)(ii), Section 3(c)(iv) or Section 4(b) thereof. Executive acknowledges that a Qualified Financing has not occurred and that the Award described in Section 2(g) of the Employment Agreement has not been and will not be granted to Executive in any instance, including in the event the Company consummates a Qualified Financing, and that in no event shall Executive be entitled to any payment pursuant to Section 2(g)(iii) of the Employment Agreement.
Severance Payments; Salary and Benefits. The Company agrees to provide Employee with the IPO Bonus described in Section 4(c) of the Employment Agreement, as applicable, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to the Employee all other payments or benefits described in Section 3(c) of the Employment Agreement, subject to and in accordance with the terms thereof.
