Upon termination of Executive’s employment hereunder, he shall be entitled to receive, in any case, any Base Salary pursuant to Section 3(a)(i) accrued but unpaid to the Termination Date. Any amount payable to Executive under this subparagraph shall be paid promptly, and in any event within thirty (30) days after the Termination Date.
COMPENSATION UPON TERMINATION. Upon termination of the Executive's employment within twelve (12) months following a Change in Control of the Corporation, unless such termination is because of the Executive's death, or by the Corporation for Cause or Disability or by the Executive other than for Good Reason, the Corporation shall pay to the Executive the following:
Your semi-monthly salary of $13,541.67, annualized at $325,000 (the “Base Salary”), will be paid semimonthly on the 15th day and last day of each month and subject to taxes and other withholdings required by law. As an exempt employee you are required to exercise your specialized expertise, independent judgment and discretion to provide high-quality services. You are expected to work the number of hours required to meet the needs of the business.
Compensation Upon Termination Without Cause. Upon Employee’s termination pursuant to the provisions of [Sections 7.2.1.2] and 7.2.1.3 hereof, Employee shall be entitled to receive:
Compensation Following Termination. Executive shall be entitled only to the following compensation and benefits upon termination of employment:
Upon Termination. In the event the Company terminates Employee’s employment for Cause in accordance with Section 8, Employee shall receive any payments of Base Salary earned through and including the date of termination (“Termination Payment”).
Employer shall pay to Employee as compensation for all services rendered by Employee a base salary of $475,000 per year during the Initial Term, or such other sums as the parties may mutually agree on from time to time, payable in accordance with Employer’s regular payroll practices as in effect from time to time with respect to all office employees of Employer, but no less frequently than monthly (“Base Salary”). The Board or, if the same is established, the human resources or compensation committee of the Board (the “Compensation Committee”) shall have the right to increase Employee’s Base Salary from time to time, and Employee shall be entitled to an annual or more frequent review thereof as determined by the Board, with the first such review to occur in the first calendar quarter of Employer’s 2020 fiscal year. Such increased Base Salary then shall become Employee’s “Base Salary” for purposes of this Agreement.
The Executive, while employed, shall be entitled to receive all benefits of employment generally available to Employees as he/she becomes eligible for them under the same terms and conditions. The benefits available to Employees are stated in the Benefit Plan that is in effect. On the Effective Date, the benefits, include but are not limited to, medical, vision, dental, life insurance and long term disability benefits, paid time off, participation in [[Organization A:Organization]]’s pension plan, paid vacation, and other benefits under the law.
Termination Benefits. The following benefits shall be Termination Benefits:
Termination Benefits. In the event that your employment with Aileron is terminated involuntarily by Aileron for reasons other than for Cause, the Company then will offer you a separation package that will include severance pay and benefits (Severance Benefits), subject to your signing (and not revoking) a separation agreement satisfactory to the Company. The separation agreement will include (among other standard provisions) a full release of claims by you, affirmation of any contractual obligations you have to the Company pursuant to the Confidentiality, Inventions, Non-Solicitation and Non-Competition Agreement (the NCA), and covenants by you of cooperation, confidentiality and non-disparagement. The Severance Benefits will specifically include severance pay for up to four (4) months and continuation medical/dental benefits (subject to your co-pay) for the same period of time that you are receiving severance pay. The Severance Benefits will cease upon your attainment of other employment (or consulting of a similar nature). For purposes of your eligibility for the Severance Benefits, the term Cause means any: # act involving dishonesty, misappropriation, fraud, or bribery; or # the Companys reasonable determination that you have # neglected or not performed your duties or responsibilities to the Company, # engaged in misconduct in performing your duties, or # violated any Company policy, rule, regulation or directive.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.