Common use of Accrued Compensation and Benefits Clause in Contracts

Accrued Compensation and Benefits. In connection with any termination of employment upon or following a Change in Control (whether or not under Section 2.01 above), the Company shall pay Employee’s earned but unpaid base salary and other vested but unpaid cash entitlements for the period through and including the termination of employment, including unused earned vacation pay and unreimbursed documented business expenses incurred by Employee prior to the date of termination (collectively “Accrued Compensation and Expenses”), as required by law and the applicable Company plan or policy. In addition, Employee shall be entitled to any other vested benefits earned by Employee for the period through and including the termination date of Employee’s employment under any other employee benefit plans and arrangements maintained by the Company, in accordance with the terms of such plans and arrangements, except as modified herein (collectively “Accrued Benefits”). Any Accrued Compensation and Expenses to which the Employee is entitled shall be paid to the Employee in cash as soon as administratively practicable after the termination, and, in any event, no later than two and one-half (2-1/2) months after the end of the taxable year of the Employee in which the termination occurs. Any Accrued Benefits to which the Employee is entitled shall be paid to the Employee as provided in the relevant plans and arrangement.

Appears in 12 contracts

Samples: Change in Control Severance Agreement (Ultra Clean Holdings, Inc.), Change in Control Severance Agreement (Ultra Clean Holdings, Inc.), Change in Control Severance Agreement (Ultra Clean Holdings, Inc.)

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Accrued Compensation and Benefits. In Notwithstanding anything to the contrary in Sections 2 and 3 above, in connection with any termination of employment upon or following a Change in Control (whether or not under Section 2.01 abovea Qualifying Termination or CIC Qualifying Termination), the Company shall pay EmployeeExecutive’s earned but unpaid base salary and other vested but unpaid cash entitlements for the period through and including the termination of employment, including unused earned vacation pay and unreimbursed documented business expenses incurred by Employee prior to Executive through and including the date of termination (collectively “Accrued Compensation and Expenses”), as required by law and the applicable Company plan or policy. In addition, Employee Executive shall be entitled to any other vested benefits earned by Employee Executive for the period through and including the termination date of EmployeeExecutive’s employment under any other employee benefit plans and arrangements maintained by the Company, in accordance with the terms of such plans and arrangements, except as modified herein (collectively “Accrued Benefits”). Any Accrued Compensation and Expenses to which the Employee Executive is entitled shall be paid to the Employee Executive in cash as soon as administratively practicable after the termination, and, in any event, no later than two and one-half (2-1/2) months after the end of the taxable year of the Employee Executive in which the termination occurs. Any Accrued Benefits to which the Employee Executive is entitled shall be paid to the Employee Executive as provided in the relevant plans and arrangementarrangements.

Appears in 3 contracts

Samples: An Arbitration Agreement (Nextdoor Holdings, Inc.), Control and Severance Agreement (Nextdoor Holdings, Inc.), Change in Control and Severance Agreement (Khosla Ventures Acquisition Co. II)

Accrued Compensation and Benefits. In connection with any termination of employment upon or following a Change in Control (whether or not under Section 2.01 above), the Company shall pay Employee’s earned but unpaid base salary and other vested but unpaid cash entitlements for the period through and including the termination of employment, including unused earned vacation pay and unreimbursed documented business expenses incurred by Employee prior to the date of termination (collectively “Accrued Compensation and Expenses”), as required by law and the applicable Company plan or policy. In addition, Employee shall be entitled to any other vested benefits earned by Employee for the period through and including the termination date of Employee’s employment under any other employee benefit plans and arrangements maintained by the Company, in accordance with the terms of such plans and arrangements, except as modified herein (collectively “Accrued Benefits”). Any Accrued Compensation and Expenses to which the Employee is entitled shall be paid to the Employee in cash as soon as administratively practicable after the termination, and, in any event, no later than two and one-half (2-2 1/2) months after the end of the taxable year of the Employee in which the termination occurs. Any Accrued Benefits to which the Employee is entitled shall be paid to the Employee as provided in the relevant plans and arrangement.

Appears in 3 contracts

Samples: Change in Control Severance Agreement (Blue Coat Systems Inc), Change in Control Severance Agreement (Blue Coat Systems Inc), Executive Change in Control Severance Agreement (Blue Coat Systems Inc)

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Accrued Compensation and Benefits. In Notwithstanding anything to the contrary in Section 2, in connection with any termination of employment upon or following a Change in Control (whether or not under Section 2.01 abovea Qualifying Termination), the Company shall pay EmployeeExecutive’s earned but unpaid base salary and other vested but unpaid cash entitlements for the period through and including the termination of employment, including unused earned vacation pay and unreimbursed documented business expenses incurred by Employee Executive prior to the date of termination (collectively collectively, “Accrued Compensation and Expenses”), as required by law and the applicable Company plan or policy. In addition, Employee Executive shall also be entitled to any other vested benefits earned by Employee Executive for the period through and including the termination date of EmployeeExecutive’s employment under any other employee benefit plans and arrangements maintained by the Company, in accordance with the terms of such plans and arrangements, except as modified herein (collectively collectively, “Accrued Benefits”). Any Accrued Compensation and Expenses to which the Employee Executive is entitled shall be paid to the Employee Executive in cash as soon as administratively practicable after the termination, termination and, in any event, no later than two and one-half (2-1/2) months after the end of the taxable year of the Employee Executive in which the termination occursoccurs or at such earlier time or to such lesser extent as may be required by Section 8. Any Accrued Benefits to which the Employee Executive is entitled shall be paid to the Employee Executive as provided in the relevant plans and arrangementarrangements.

Appears in 1 contract

Samples: Retention Agreement (Shutterfly Inc)

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