Compensation Upon Termination Change in Control Clause Samples

Compensation Upon Termination Change in Control. 9(a) If Winterton’s employment is terminated by Winterton’s death, the Company shall pay all Accrued Obligations to Winterton’s estate, or as may be directed by the legal representatives of such estate, and the Company shall have no further obligations to Winterton under this Agreement. “Accrued Obligations” shall mean the following: (1) the lump sum amount of any Base Salary accrued but unpaid through the Date of Termination, (2) the lump sum amount of any earned but unpaid annual bonus for periods with respect to which the performance period to earn such bonus has closed under the Company’s Executive Bonus plan, to the extent the conditions to earning such bonus have been satisfied, as determined by the Board, (3) the lump sum amount of any accrued but unused paid time off or sick pay in accordance with Company policy and applicable law, (4) the lump sum of any business expenses incurred which have been properly submitted for reimbursement in accordance with Company policy, but not reimbursed prior to the Date of Termination, (5) any other compensation or benefits which may be owed or provided to or in respect of Winterton, paid or provided in accordance with the terms and provisions of the applicable benefit plans or programs of the Company, and (6) less any advances made to Winterton. For all purposes of this Agreement, the cash payments payable to, or with respect to, Winterton under clauses (1), (2) and (3) of the definition of Accrued Obligations shall be paid within ten (10) days of the Date of Termination or, if earlier, in accordance with applicable law.