termination of employment, divided by 365 and (y) Employee’s Target Annual Bonus for the year in which Employee’s termination of employment occurs.
C.The Additional Vesting shall mean (i) with respect to time-based awards, an additional 18 months of service credit (less any earned pro-rated vesting provided for in the applicable award agreement upon such termination) and (ii) with respect to performance-based awards an additional 18 months of service credit (less any pro-rated service credit provided for in the applicable award agreement upon such termination) (e.g., if pro rated vesting or service credit upon such termination is 6 months, an additional 12 months of vesting or service credit would be provided hereunder); provided, that, in each case the number of months of service credit provided shall not be less than zero (0) . The Additional Vesting shall apply to those certain restricted stock units and those certain performance-based restricted stock units, in each case, granted on May 9, 2022 and any long-term incentive awards granted to Employee following the date hereof. The terms and conditions of the underlying award agreements shall govern the timing of settlement of any restricted stock units or performance-based restricted stock units subject to the Additional Vesting.
(iii)Payment of the Severance Payment and the Additional Vesting shall be subject to and conditioned upon Employee’s execution and non-revocation of a Severance Agreement and General Release of Claims in substantially the form attached hereto as Exhibit A (the “釋放”), which shall be provided by Company to Employee no later than five (5) business days following Employee’s termination. Company will pay Employee the Severance Payments in substantially equal installments on Company’s regularly scheduled payroll dates during the eighteen (18) month period following the Release Effective Date (as defined in the Release).
(iv)Company agrees that Employee is not required to seek other employment or to attempt in any way to reduce any amounts payable to Employee by Company and that if Employee becomes eligible to participate in other health and/or welfare plans, such eligibility alone shall not affect Employee’s and Employee’s eligible dependents’ entitlement to continued participation in any group health, dental and vision insurance plans in which Employee and Employee’s eligible dependents are then enrolled. Except as hereinafter provided in Section 8(e)(v), the amount of any payment or benefit provided for in this Agreement shall not be reduced by any compensation earned by Employee as the result of employment through self-employment or by another employer, by retirement benefits, by unemployment compensation, by offset against any amount claimed to be owed by Employee to Company, or otherwise.
(e)公司在非因裁員或員工因有正當理由與控制權變更有關而終止。
(i)如果公司未因裁員而終止僱傭或根據第1條發出終止本協議的書面通知而終止僱傭結束僱傭期限之日起,或員工在控制權變更(如定義於iheartmedia, Inc. 2021 長期獎勵計劃)前九十(90)天或控制權變更後十二(12)個月內有正當理由終止僱傭(或其他情況於控制權變更之前但在執行導致控制權變更的明確協議之後)(每個都是一個“CIC 終止)公司將支付
(f)For purposes of calculating severance payments under Sections 8(d) and 8(e) of this Agreement, the Base Salary and Target Annual Bonus shall not take into account any reductions which would constitute Good Reason or which were made in the prior six (6) month period. All payments pursuant to this Section 8 shall be subject to Company’s withholding and reporting obligations.
(g)If Employee is in material breach of any post-employment obligations or covenants and such breach is not cured by Employee within ten (10) days following written notice from Company, Company shall have no obligation to pay Employee the Severance Payment or the CIC Severance
Payment, as applicable. Employee acknowledges the Severance Payment or the CIC Severance Payment, as applicable, and the Additional Vesting are adequate and independent consideration to support Employee’s General Release of claims referenced in Section 8(d), as it is something of value to which Employee would not have otherwise been entitled at termination had Employee not executed a General Release of claims.
9.PAYOLA, PLUGOLA AND CONFLICTS OF INTEREST
Employee acknowledges familiarity with Company policies on payola, plugola and sponsorship identification, pursuant to in Section 73.1212 of the Code of Federal Regulations, Sections 317, 507, and 508 of the Communications Act of 1934, as amended, and all rules and regulations of the Federal Trade Commission (“FTC”), including, but not limited to, disclosure of any financial or other relationships, with respect to endorsements, testimonials, interviews, or any other content (collectively “Payola Policies”), and warrants that Employee will fully comply with such policies, including, but not limited to, periodic training. Employee shall certify compliance with the Payola Policies from time to time as requested by the Company. Employee shall notify Company immediately in writing if there is any attempt to induce Employee to violate the Payola Policies.
10.OWNERSHIP OF MATERIALS
(a)Employee agrees that all inventions, improvements, discoveries, designs, technology, and works of authorship (including but not limited to computer software) made, created, conceived, or reduced to practice by Employee, whether alone or in cooperation with others, during employment, together with all patent, trademark, copyright, trade secret, and other intellectual property rights related to any of the foregoing throughout the world, are among other things works made for hire (the “作品)並且始終為公司所獨有,在任何情況下,員工特此將所有這些權利的所有權轉讓給公司。員工明白作品可能被修改或更改,並明確放棄對於道德權利性質中的歸屬或完整性或其他權利的任何權利。droit morale) 用於所有作品的一切情況。 員工 同意以書面通知公司有關本協議涵蓋的任何作品,執行任何文件,出庭作證,並進行所有必要或可取得公司前述權利的事宜,包括但不限於執行發明人聲明和轉讓表格,即使員工已不再受僱於公司。員工同意員工無權複製、發行副本、公開表演、公開展示或為基於作品製作衍生作品。員工特此不可撤銷地指定並任命公司為員工的代理人和代理律師,代表員工就在任職期間由員工創作並與員工的工作職責相關的獲得和執行任何知識產權的權利。員工同意不將任何在員工開始受僱之前由員工創作的知識產權,或由任何第三方創作的知識產權,納入任何公司工作成果。本協議不適用於未使用任何公司設備、用品、設施或商業機密信息,並且完全由員工在自己的時間內開發的發明,前提是該發明不(i)直接涉及公司的業務,(ii)與公司的實際或可預見的研究或開發有關,或(iii)源自僱員為公司執行的任何工作。
(b)為了確定總支付將受到激勵稅及其程度之間的關係,(i)在任何員工放棄,並且在此之前員工以不構成“支付”之意義的方式和方式放棄的總支付的部分將不予考慮;(ii)不考慮在公司獨立、具有國家認可的會計師事務所的書面意見中,在發生所有權或控制變更之前,公司須經員工事先書面同意之獨立、具國家認可的會計師事務所和/或稅務顧問指定或聘請的(在稅務資產1.280G-1、Q & as 27 - 29條中具有變更所有權或控制的意義)(“」所有涉及到這項協議的應用的決定,都將由一家有經驗在執行適用於該條款的法案第280G節和徵稅條款的計算的會計公司或咨詢集團(稱為“獨立顧問”)來決定;對於決定來說,如果根據獨立顧問的意見,不構成根據法案第280G節(包括根據法案第280G節第四條A款)的“降落傘支付”或者是超過了根據法案第280G節第四條B款的“根據提供合理勞務的合理報酬”所分配的“基數”(如法案第280G節第三條所定義的),則不考慮支付總額的任何部分。”), does not constitute a “parachute payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) and, in calculating the Excise Tax, no portion of such Total Payments shall be taken into account which, in the written opinion of Independent Advisors, constitutes reasonable compensation for services actually rendered (or for holding oneself out as available to perform services and refraining from performing services (such as under a covenant not to compete)), in excess of the “base amount” (as defined in Section 280G(b)(3) of the Code) allocable to such reasonable compensation; and (iii) the value of any non-cash benefit or any deferred payment or benefit included in the Total Payments shall be determined by the Independent Advisors in accordance with the principles of Sections 280G of the Code. In the event that the Independent Advisors are serving as accountants, auditors or counsel for the individual, entity or group effecting the change in ownership or control (within the meaning of Treasury Regulations Section 1.280G-1, Q&As 27 - 29), Company shall appoint another nationally recognized accounting firm and/or tax counsel to make the determinations hereunder, subject to the written consent of Employee which shall not be unreasonably withheld (which firm(s) shall then be referred to as the “Independent Advisors” hereunder). All determinations hereunder shall be made by the Independent Advisors, who shall provide detailed supporting calculations both to Company and Employee at such time as it is requested by Company or Employee. The determination of the Independent Advisors shall be final and binding upon Company and Employee, absent manifest error. Company shall be responsible for all charges for the Independent Advisors. Company and Employee shall promptly deliver to each other copies of any written communications, and summaries of any verbal communications, with any taxing authority regarding the Excise Tax covered by this Section 17.
(d)全面履行。 The parties agree to execute any further or future documents which may be necessary to allow the full performance of this Agreement. The failure of a party to require performance of any provision of this Agreement shall not affect the right of such party to later enforce any provision. A waiver of the breach of any term or condition of this Agreement shall not be deemed a waiver of any subsequent breach of the same or any other term or condition.
(e)Blue Pencil; Injunctive Relief. If any provision of this Agreement shall, for any reason, be held unenforceable, such unenforceability shall not affect the remaining provisions hereof, except as
specifically noted in this Agreement, or the application of such provisions to other persons or circumstances, all of which shall be enforced to the greatest extent permitted by law. Company and Employee agree that the restrictions contained in Section 4, 5, 6, and 10, are material terms of this Agreement, reasonable in scope and duration and are necessary to protect Company’s Confidential Information, goodwill, specialized training expertise, and legitimate business interests. If any restrictive covenant is held to be unenforceable because of the scope, duration or geographic area, the parties agree that the court or arbitrator may reduce the scope, duration, or geographic area, and in its reduced form, such provision shall be enforceable. Should Employee violate the provisions of Sections 5, or 6, then in addition to all other remedies available to Company, the duration of these covenants shall be extended for the period of time when Employee began such violation until Employee permanently ceases such violation. Employee agrees that no bond will be required if an injunction is sought to enforce any of the covenants previously set forth herein.
(f)Expiration of Employment Period. In the event that Employee’s employment continues for any period of time following the end of the Employment Period, unless and until agreed to in a new executed agreement, such employment or continuation thereof is “at-will” and may be terminated at any time by either party.
(g)施工本協議中的標題僅為方便參考而插入,不應控制此處任何條款的含義。本協議中的任何內容都不應被解釋為控制或修改員工在就業關係範圍內,對於員工法律雇主是公司家族實體中的哪一個( Company’s family of entities)。