Obligations of the Company on Termination. (a) If the Executive’s employment is terminated (i) due to the Company failing to renew this Agreement in accordance with its terms at least sixty (60) days prior to the End of the Term; (ii) by the Company for any reason other than the Executive’s death, Disability or Cause, or (iii) due to Executive resigning because the Company materially fails to comply with the terms and conditions of this Agreement after notice from Executive and a reasonable opportunity to cure such matter, the Company shall, upon execution by Executive of the Company’s settlement agreement and general release, pay to the Executive within 10 days after the Date of Termination, a lump-sum cash amount equal to the sum of any portion of the Salary and any other compensation earned for the period up to the Date of Termination that has not yet been paid, the cash equivalent of any accrued but unused vacation, and one year’s worth of Salary. Further, (a) all unvested Options granted to Executive by SK Holdco that are scheduled to vest in the 12 months after the Date of Termination, will vest prorata based upon the number of days from the last vesting date to the Termination Date, divided by 365, (b) the Management Incentive Plan (“MIP”) Bonus payment for the year in which the Date of Termination occurs, will be payable to Executive when and as paid to other Company employees, and will be calculated as if Executive remained employed with the Company the entire MIP year (i.e., not prorated for length of employment in that MIP year), and (c) provided Executive elects continued health insurance coverage through COBRA, the Company will pay Executive’s monthly COBRA contributions for health insurance coverage, as may be amended from time to time, (less an amount equal to the premium contribution paid by active Company employees) during such one year period; provided, however, that if at any time Executive becomes eligible for health insurance through subsequent employment or otherwise, the Company’s health benefit obligations shall immediately cease, and the Company shall have no further obligation to make COBRA contributions on Executive’s behalf.
Obligations of the Company on Termination i. For Any Reason. Upon termination of this Agreement for any reason, the Company's obligations to Anch under this Agreement shall include (a) the prorated payment of the base fee through the date of termination to the extent not paid by then; (b) the payment of earned and accrued bonus or incentive payments due to Anch if any, at the time of termination under any bonus or incentive plans in which Anch participated prior to termination; and (c) the payment of any reimbursable business expenses that were documented by Anch prior to termination in accordance with the Company's policies as set forth in paragraph 2.e. of this Agreement and that were not reimbursed by the Company at the time of the termination of this Agreement.
Obligations of the Company on Termination i. For Any Reason. Upon termination of this Agreement for any reason, the Company's obligations to Executive under this Agreement shall include (a) the prorated payment of Executive's salary through the date of termination to the extent not paid by then; (b) the payment of earned and accrued bonus or incentive payments due Executive, if any, at the time of termination under any bonus or incentive plans in which Executive participated prior to termination; (c) the payment of any unused accrued vacation through the date of termination; and (d) the payment of any reimbursable business expenses that were documented by Executive prior to termination in accordance with the Company's policies as set forth in paragraph 2.e. of this Agreement and that were not reimbursed by the Company at the time of the termination of this Agreement.
Obligations of the Company on Termination. (a) If during the Employment Period, Employee's employment is terminated with Cause, upon Employee's death or upon a Voluntary Termination, the Company shall immediately pay Employee in cash the portion of his Base Compensation previously earned but not yet paid.
Obligations of the Company on Termination i. For Any Reason. Upon termination of this Agreement for any reason, the Company's obligations to Executive under this Agreement shall include (a) the prorated payment of Executive's salary through the date of termination to the extent not paid by then; (b) other than in connection with a termination of Executive’s employment for Cause, the payment of earned and accrued bonus or incentive payments due Executive, if any, at the time of termination under any bonus or incentive plans in which Executive participated prior to termination; (c) the payment of any unused accrued vacation through the date of termination; and (d) the payment of any reimbursable business expenses that were documented by Executive prior to termination in accordance with the Company's policies as set forth in paragraph 2.f. of this Agreement and that were not reimbursed by the Company at the time of the termination of this Agreement.
Obligations of the Company on Termination. The Agreement may be terminated by the employee or the Company at any time by giving 2 (TWO) months notice in writing. During this notice period, you shall perform whatever tasks are assigned to you by the Company. The Company has the right, in its discretion, to terminate the Agreement with a payment in lieu of notice. The Agreement may be terminated by the Company without notice or payment in lieu of notice:
Obligations of the Company on Termination. (a) If the Executive’s employment is terminated during the Employment Period (i) by the Company without Cause, or (ii) due to Executive resigning because of Good Reason or (iii) the Company materially fails to comply with the terms and conditions of this Agreement after notice from Executive and a reasonable opportunity to cure such matter, upon execution by Executive of the Company’s settlement agreement and general release, (A) the Company shall pay to the Executive within 10 days after the Date of Termination (“Date of Termination” shall be defined as the date on which Executive’s employment with the Company is terminated by Executive or Company), an amount equal to the sum of any portion of the Salary and any other compensation earned for the period up to the Date of Termination that has not yet been paid and the cash equivalent of any accrued but unused vacation, (B) the Company shall continue to pay the Executive Salary on regular Company pay dates for the balance of the two year Employment Period or one year from Date of Termination, whichever period is greater and provide medical, life and disability coverage, under the same conditions as exist at the time of termination, for a six (6) month period beginning on the Date of Termination, (C) notwithstanding anything set forth in any Restricted Stock Plan or Restricted Stock Award Agreement, ownership in the 30,000 shares of Restricted Stock described in this Agreement, shall vest only to the extent such ownership is vested on the Date of Termination or shall vest 20% , whichever amount is greater, and (D) notwithstanding anything to the contrary in any stock option agreement, plan or Stock Option Award Agreement, the stock options to acquire 60,000 shares granted to the Executive described in this Agreement shall vest only to the extent such ownership is vested on the Date of Termination or shall vest 20% , whichever amount is greater.
Obligations of the Company on Termination. (a) If the Executive’s employment is terminated for any reason, the Company shall, upon execution by Executive of the Company’s settlement agreement and general release, pay to the Executive within 10 days after the Date of Termination, a lump-sum cash amount equal to the sum of any portion of the Salary for the period up to the Date of Termination that has not yet been paid.
Obligations of the Company on Termination. Notwithstanding anything in this Agreement to the contrary, the Company's obligations on termination of the Executive's employment shall be as described in this Section 11. The Company shall have no obligation for termination pay if the termination is during or at the end of the Initial Term.
Obligations of the Company on Termination
