GVHR » Topics » 4. Payments Upon Termination of Employment.

These excerpts taken from the GVHR 10-K filed Mar 16, 2009.

4.             Payments Upon Termination of Employment.

 

(a)           Qualifying Termination.  If during the Termination Period the employment of Executive shall terminate pursuant to a Qualifying Termination, then the Company shall provide to Executive:

 

(i)            within five (5) days following the Date of Termination, a lump-sum cash amount equal to the sum of (A) Executive’s base salary through the Date of Termination and any bonus amounts which have become payable, to the extent no theretofore paid or deferred, and (B) any accrued vacation pay, to the extent not theretofore paid; plus

 

(ii)           on the first business day which is six (6) months and one (1) day after Executive separates from service (within the meaning of Section 409A of the Internal Revenue Code (“Code”)), a lump sum cash amount equal to a pro rata portion of Executive’s annual bonus for the fiscal year in which Executive’s Date of Termination occurs, which portion shall at least be equal to (A) Executive’s Bonus Amount, multiplied by (B) a fraction, the numerator of which is the number of days in the fiscal year in which the Date of Termination occurs through the Date of Termination and the denominator of which is three hundred sixty-five (365), and reduced by (C) any amounts paid from the Company’s annual incentive plan for the fiscal year in which Executive’s Date of Termination occurs; plus

 

(iii)          on the first business day which is six (6) months and one (1) day after Executive separates from service (within the meaning of Section 409A of the Code, a lump-sum cash amount equal to (A) two (2) times Executive’s highest annual rate of base

 

6



 

4.             Payments Upon
Termination of Employment.



 



(a)           Qualifying
Termination
.  If during the
Termination Period the employment of Executive shall terminate pursuant to a
Qualifying Termination, then the Company shall provide to Executive:



 



(i)            within five (5) days
following the Date of Termination, a lump-sum cash amount equal to the sum of (A) Executive’s
base salary through the Date of Termination and any bonus amounts which have
become payable, to the extent no theretofore paid or deferred, and (B) any
accrued vacation pay, to the extent not theretofore paid; plus



 



(ii)           on the first business
day which is six (6) months and one (1) day after Executive separates
from service (within the meaning of Section 409A of the Internal Revenue
Code (“Code”)), a lump sum cash amount equal to a pro rata portion of Executive’s
annual bonus for the fiscal year in which Executive’s Date of Termination
occurs, which portion shall at least be equal to (A) Executive’s Bonus
Amount, multiplied by (B) a fraction, the numerator of which is the number
of days in the fiscal year in which the Date of Termination occurs through the
Date of Termination and the denominator of which is three hundred sixty-five
(365), and reduced by (C) any amounts paid from the Company’s annual
incentive plan for the fiscal year in which Executive’s Date of Termination
occurs; plus



 



(iii)          on the first business
day which is six (6) months and one (1) day after Executive separates
from service (within the meaning of Section 409A of the Code, a lump-sum
cash amount equal to (A) two (2) times Executive’s highest annual
rate of base



 



6
















 



4.             Payments Upon
Termination of Employment.



 



(a)           Qualifying
Termination
.  If during the
Termination Period the employment of Executive shall terminate pursuant to a
Qualifying Termination, then the Company shall provide to Executive:



 



(i)            within five (5) days
following the Date of Termination, a lump-sum cash amount equal to the sum of (A) Executive’s
base salary through the Date of Termination and any bonus amounts which have
become payable, to the extent no theretofore paid or deferred, and (B) any
accrued vacation pay, to the extent not theretofore paid; plus



 



(ii)           on the first business
day which is six (6) months and one (1) day after Executive separates
from service (within the meaning of Section 409A of the Internal Revenue
Code (“Code”)), a lump sum cash amount equal to a pro rata portion of Executive’s
annual bonus for the fiscal year in which Executive’s Date of Termination
occurs, which portion shall at least be equal to (A) Executive’s Bonus
Amount, multiplied by (B) a fraction, the numerator of which is the number
of days in the fiscal year in which the Date of Termination occurs through the
Date of Termination and the denominator of which is three hundred sixty-five
(365), and reduced by (C) any amounts paid from the Company’s annual
incentive plan for the fiscal year in which Executive’s Date of Termination
occurs; plus



 



(iii)          on the first business
day which is six (6) months and one (1) day after Executive separates
from service (within the meaning of Section 409A of the Code, a lump-sum
cash amount equal to (A) two (2) times Executive’s highest annual
rate of base



 



6
















 



EXCERPTS ON THIS PAGE:

10-K (3 sections)
Mar 16, 2009

"4. Payments Upon Termination of Employment." elsewhere:

Heidrick & Struggles International (HSII)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki