Example ContractsClausesAccrued Rights and Obligations
Accrued Rights and Obligations
Accrued Rights and Obligations contract clause examples
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Accrued Obligations. Except as set forth herein, any termination or expiration of this Agreement shall not relieve either Party of any obligation that has accrued prior to the effective date of such termination or expiration, which obligations shall remain in full force and effect for the period provided therein.

Accrued Obligations. In accordance with the Company's customary payroll practices, the Company shall pay Executive the Accrued Payments (as defined in the Employment Agreement), including, without limitation, all unpaid salary, unreimbursed business expenses, and any accrued but unused vacation through the Separation Date ("Accrued Obligations").

Accrued Obligations. The Company will pay Employee his accrued but unpaid salary through the Separation Date, reimbursements for unreimbursed business expenses, and payment for accrued but unused vacation. The Company will pay these accrued obligations to Employee within sixty (60) days after the Separation Date. Employee’s vested interests in the Company’s 401(k) Plan shall be distributed to him in accordance with the terms and conditions of such plan.

Accrued Obligations. If the Date of Termination occurs during the Term for any reason, the Executive shall be entitled to the Accrued Obligations, in addition to any other benefits to which the Executive may be entitled under the following provisions of this Section 5 or the express terms of any employee benefit plan or as required by law. Any benefits to be provided to the Executive pursuant to this Section 5(a) shall be provided within thirty (30) days after the Date of Termination; provided, however, that any benefits, incentives or awards payable as described in Section 5(e) shall be provided in accordance with the terms of the applicable plan, program or arrangement. Except as may expressly be provided to the contrary in this Agreement, nothing in this Agreement shall be construed as requiring the Executive to be treated as employed by the Employer following the Date of Termination for purposes of any plan, program or arrangement.

Accrued Obligations. If the Executive’s employment hereunder is terminated for any reason, then the Executive (or her estate, as applicable) shall be entitled to receive her Base Salary through the date of termination and the per diem value of all accrued but unused PTO days.

Accrued Obligations. The Corporation shall pay the Executive, in cash, in a lump sum, on the thirtieth (30th) day following the Date of Termination (the “Payment Date”), the sum of # the Executive’s full base salary through the Date of Termination at the rate in effect at the time the Notice of Termination is given (disregarding any reduction thereto that constitutes Good Reason); # all accrued but unused vacation determined as of the Date of Termination, determined based upon the Executive’s Severance Salary Rate (as defined below) and the Corporation’s vacation policy in effect on the Date of Termination (or, if more favorable to the Executive, the vacation policy in effect as of immediately prior to the Effective Date); # the Executive’s annual bonus for the fiscal year immediately preceding the fiscal year in which the Date of Termination occurs, if such bonus has been determined but not paid as of the Date of Termination; # if the Date of Termination is not the last day of a fiscal year, a prorated bonus payment equal to the Applicable Bonus (as defined below) multiplied by a fraction, the numerator of which is the number of days which have elapsed in the fiscal year in which the Date of Termination occurs and the denominator of which is the total number of days in such fiscal year; and # the Executive’s business expenses that are reimbursable pursuant to the applicable policy of the Corporation as in effect on the Date of Termination but have not been reimbursed by the Corporation as of the Date of Termination.

Any unpaid Annual Bonus in respect to any completed fiscal year which has ended prior to the date of such termination, which amount shall be paid at such time annual bonuses are paid to other senior executives of the Company;

An amount equal to two (2) times the sum of # Base Salary and # the greater of # the Annual Bonus earned in respect of the year prior to the fiscal year of termination (not to exceed Target Annual Bonus) and # the Threshold Bonus Amount, such amount to be paid in a lump sum within 15 days following the date of termination;

The Pro Rata Bonus, which amount shall be paid at such time annual bonuses are paid to other senior executives of the Company, but in no event later than the 15th day of the third month following the last day of the fiscal year in which such termination occurred;

Accrued Rights; Remedies. Termination or expiration of this Agreement for any reason will be without prejudice to any rights that will have accrued to the benefit of any Party prior to such termination or expiration, and any and all damages or remedies (whether in law or in equity) arising from any breach hereunder, each of which will survive termination or expiration of this Agreement, including any payments that are payable prior to the effective date of termination. Except as otherwise expressly set forth in this Agreement, the termination provisions of this Article 16 are in addition to any other relief and remedies available to either Party under this Agreement and at law or in equity.

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