Termination on the Expiration Date Sample Clauses
The 'Termination on the Expiration Date' clause defines that an agreement or contract will automatically end when its specified expiration date is reached. In practice, this means that neither party needs to take additional action, such as providing notice, for the contract to conclude; the relationship and obligations under the agreement simply cease on the predetermined date. This clause ensures clarity and certainty regarding the duration of the contract, preventing misunderstandings about when the parties' responsibilities end.
Termination on the Expiration Date. In the event your employment terminates on the Expiration Date, then:
Termination on the Expiration Date. If Executive’s employment terminates without Cause on the Expiration Date, then, subject to Section 8 (release of claims), Executive will receive: (i) unpaid Base Salary accrued through the Expiration Date plus Base Salary from the Expiration Date that would have accrued through the end of the month following the month in which the Expiration Date occurs but in no event beyond November 15, 2013; (ii) pay for accrued but unused vacation; (iii) benefits or compensation as provided under the terms of any executive benefit and compensation agreements or plans applicable to Executive through the effective date of termination; (iv) unreimbursed business expenses required to be reimbursed to Executive, including without limitation the expenses related to Executive relocating personal items from Phoenix to San Diego; (v) rights to indemnification Executive may have under the Company’s Certificate of Incorporation, Bylaws, this Agreement, and/or the Indemnity Agreement, as applicable; (vi) an amount equal to twelve (12) months of Executive’s Base Salary of $337,459.00; (vii) an amount equal to 100% of Executive’s Target Annual Incentive for 2013 of $208,500.00; (viii) reimbursement for premiums paid for continued health benefits for Executive (and any eligible dependents) under the Company’s health plans until the earlier of (A) twelve (12) months, payable when such premiums are due (provided Executive validly elects to continue coverage under COBRA), or (B) the date upon which Executive and Executive’s eligible dependents become covered under similar plans; (ix) accelerated vesting of that portion of Executive’s then outstanding and unvested Equity Awards that would otherwise vest by their terms on or before December 31, 2013. Subject to IRC section, the amounts in subsections (vi) and (vii) above will be paid in a lump sum within seven (7) days following the effective date of the Release referenced in Section 8 below.
Termination on the Expiration Date. Upon the Expiration Date, the Employee shall be entitled to the unpaid portion of the Minimum Bonus plus the unpaid portion of the Incremental Bonus (calculated after taking into account prepayments of the Minimum Bonus made pursuant to section 2 and Accelerated Payments made pursuant to section 3) calculated as of the Expiration Date; provided, however, that (i) Substantially Completed Transactions and POR Transactions will be included in the determination of the value of the Constituency Payment Pool as of the Expiration Date and (ii) in the event that the Employee is willing and able to extend the Employment Period to April 30, 2003 in accordance with section 2(e) hereof and the Employment Period is not so extended (whether because Warnaco does not agree to such an extension or for any other reason), then if a Plan of Reorganization becomes substantially consummated within six months of the Expiration Date, then the Employee is entitled to receive promptly upon the occurrence of such event an amount equal to the excess, if any, of (x) an amount equal to the Incentive Bonus calculated based on such subsequent event over (y) the amount of Incentive Bonus that has already been paid to the Employee before application of this provision, if any.