Example ContractsClausesaccrued rights; surviving obligationsVariants
Accrued Rights; Surviving Obligations
Accrued Rights; Surviving Obligations contract clause examples

Accrued Obligations. will pay to Employee base salary through the Employment Termination Date (at the rate in effect immediately before the Employment Termination Date), any Unpaid Prior Year Bonus, a Pro Rata Current Year Bonus, and all other amounts to which Employee is entitled under any compensation plan applicable to Employee that is listed on [Exhibit B] to this Agreement. Unless any payment under this Section 6(c)(i) must be postponed by reason of Section 409A of the Internal Revenue Code (as provided in [Exhibit A] to this Agreement), will pay any base salary within five business days of the Employment Termination Date; will pay any Unpaid Prior Year Bonus at the same time that amount would have been paid if Employee’s employment had continued indefinitely but not later than March 15 of the year in which the Employment Termination Date occurs; will pay any Current Year Pro Rata Bonus at the same time that amount would have been paid if Employee’s employment had continued indefinitely but not later than March 15 of the year immediately after the year in which the Employment Termination Date occurs; and will pay any other amounts payable pursuant to this Section 6(c)(i) at the time specified in the applicable compensation plan.

For all purposes of this Agreement, the term “Current Year Pro Rata Bonus” means # an amount calculated on the same date and in the same manner as Employee’s annual incentive bonus under the bonus plan in effect for the fiscal year in which the Employment Termination Date occurs would have been calculated if Employee’s employment had not been terminated and, to the extent relevant to that calculation, Employee’s performance through the entire fiscal year had been equal to ​ performance during the part of the fiscal year ending on the Employment Termination Date, multiplied by # a fraction, the numerator of which is the number of days in the partial fiscal year ending on the Employment Termination Date and the denominator of which is 365. Unless any payment under this Section 6(b) must be postponed by reason of Section 409A of the Internal Revenue Code (as provided in [Exhibit A] to this Agreement): will pay any Unpaid Prior Year Bonus at the same time that amount would have been paid if Employee’s employment had continued indefinitely but not later than March 15 of the year in which the Employment Termination Date occurs; will pay any Current Year Pro Rata Bonus at the same time that amount would have been paid if Employee’s employment had continued indefinitely but not later than March 15 of the year immediately after the year in which the Employment Termination Date occurs; and will pay any other benefits or amounts payable pursuant to this Section 6(b) at the time specified in the applicable plan.

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