Upon Employee s death during the Employment Period, Employer shall pay to the person or entity designated by Employee in a notice filed with Employer or, if no person is designated, to Employee's estate any unpaid amounts of Base Salary to the date of Employee's death, plus any amounts as may be due under Sections 5.9 and 5.10 below. Any payments Employee's spouse, beneficiaries or estate may be entitled to receive pursuant to any pension plan, employee welfare benefit plan, life insurance policy, or similar plan or policy then maintained by Employer shall be determined and paid in accordance with the written instruments governing the respective plans and policies. In the event of Employee's death during the Employment Period, Employer shall notify Employee's designee or estate of the stock awards held by Employee and the procedures pursuant to which all vested stock options may be exercised and other stock awards may be realized under the terms applicable to such awards.
Upon Employee s retirement from the Company on or after the fourth anniversary of the Consummation Date, for purposes of calculation of the "target benefit" under the Plan, Employee shall be credited with his actual years of service with the Company, plus seven (7) additional years of service under the Plan if Employee retires on or after the fourth anniversary of the Consummation Date. If the Employee's employment with the Company terminates pursuant to Section 6(a)(vi) or Section 6(a)(vii)(x) of this Agreement prior to the fourth anniversary of the Consummation Date, for purposes of calculation of the "target benefit" under the Plan, Employee shall be credited with a number of years of service equal to the sum of (a) the actual number of years of employment of the Employee with the Company and (b) seven (7) years of service. If the Employee terminates his employment with the Company other than for Good Reason under this Agreement prior to the fourth anniversary of the Consummation Date, for purposes of the "target benefit" under the Plan, Employee shall be credited with a number of years of service equal to the actual years of employment of the Employee with the Company.
Upon Employee s death at any time while this Agreement is in effect (including without limitation during the period after Employee's retirement or other termination of employment) Employee's Beneficiary will be entitled to a Death Benefit consisting of the greater of the Death Benefit provided in Section 6.2, or $500,000. Employee's Beneficiary will not be entitled to any installments of Retirement Benefits.
Examples of Upon Employee in a sentence
Upon Employee receiving payments on account of the fringe benefit program covering disability provided or paid for by the Corporation, then the Employee's base salary, as defined above, will be reduced to the extent of such entitlement and receipt.
Upon Employee reaching the age of 65, Employee shall then have the right to terminate this Agreement without cause, effective a date six months from the date she provides Opexa with written notice of her decision to terminate for retirement purposes.
Upon Employee remaining in continued employment up until the Forfeiture Conditions being satisfied, the Company shall deliver to Employee one share in the Company for each DSA that is no longer a Restricted DSA within 30 days of the DSA ceasing to be a Restricted DSA.
Upon Employee providing Company with documentation verifying Employee's identity and legal authorization to work in the United States, Company agrees to employ Employee, and Employee agrees to perform the duties assigned to him for the Term of this Agreement (as defined in Section 2 of the Agreement) pursuant to the terms and conditions set forth herein.
Upon Employee reaching the age of 65, Employee shall then have the right to terminate this Agreement without cause, effective a date six months from the date he provides Opexa with written notice of his decision to terminate for retirement purposes.
More Definitions of Upon Employee
Upon Employee s presentment to Employer of expense reports acceptable to Employer and which are in sufficiently detailed form to comply with standards for deduction of business expenses established from time to time by the Internal Revenue Service, Employer will reimburse Employee for such expenses approved by the Employer and incurred by Employee in connection with performance of his duties hereunder.
Upon Employee s "Disability", the payment of benefits under C3D's short-term and long-term disability insurance programs, if any, shall represent payments in lieu of salary and shall satisfy in full C3D's obligations for the payment of salary under the foregoing. If C3D has no short term and long term disability insurance program, then Employee's salary provided herein shall continue to be paid throughout Employee's Disability until such time as Employee's employment with C3D is terminated. For purposes of this Agreement, Employee shall be deemed to be under a Disability if Employee shall be unable, by virtue of illness or physical or mental incapacity or disability (from any cause or causes whatsoever), to perform Employee's essential job functions hereunder, whether with or without reasonable accommodation, in substantially the manner and to the extent reasonably required hereunder prior to the commencement of such disability, for a period exceeding Ninety (90) consecutive days. In light of the unique nature of Employee's services, and the undue burden on C3D that would result from Employee's long term absence, C3D shall have the right to terminate Employee's employment hereunder in the event Employee shall remain under a Disability for a period exceeding One Hundred Eighty (180) consecutive days, such termination to occur at the end of any calendar month during the continuance of such Disability, upon at least Thirty (30) days prior written notice to Employee. In the event this Agreement is terminated by reason of Employee's Disability: (a) the options granted pursuant to the Primary Grant (option for 100,000 shares) shall immediately vest and be exercisable as of the date of Employee's termination; and (b) to the extent Employee has achieved part or all of the goals set forth in Exhibit A hereto, the options granted pursuant Secondary Grant shall, on a pro rata basis, vest and immediately be exercisable. A determination as to the extent that Employee has achieved part or all of the goals set forth in Exhibit A hereto, if at all, shall be made solely by and in the reasonable and good-faith discretion of C3D's Board of Directors.
Upon Employee s recommendation. As such, Employee shall act in conformity with the management policies, guidelines and directions issued by the Board, and shall have general charge and supervision of those functions and such other responsibilities as the Board shall, from time to time, determine and assign as are typically performed by and the responsibility of a chief executive officer of a Publicly-Held Corporation. Employee shall report and be responsible to the Board.
Upon Employee s death, any Option held by Employee at the time of his death may be exercised by the estate or the personal representative of the estate of the Optionee within three months after the date of his death, but only to the extent that (i) the Option was exercisable according to its terms of the date of Optionee's death, and (ii) the period for the exercise of the Option has not terminated as of the date of the exercise. Upon termination of the period ending three months after Employee's death, any unexercised portion of the Option shall expire.
Upon Employee s activities (in time, product, geographic area and customer solicitation as may then be legal and valid).
Upon Employee s resignation as set forth in paragraph 1 hereof, the Change in Control Severance Agreement between the Company and Employee shall terminate in its entirety.
Upon Employee s cessation of employment for any of the above reasons or voluntarily by Employee upon advance written notice as provided herein, Employee shall receive only accrued salary, bonus and vacation pay earned and unpaid as of the date of termination, and shall not be entitled to additional compensation.