CompUSA 2011 Annual Report Download - page 67

(b) Death . If the Employee’
s employment shall be terminated by reason of his death, the Company shall pay to such person as
the Employee shall have previously designated, in a notice filed with the Company, or, if no such person shall have been designated, to his estate, the
applicable portion of his Base Salary due through the applicable Date of Termination at the rate in effect on the date of death and, following such
payments, the Company shall have no further obligations to such designated person or the Employee’
s estate, as the case may be, under this
Agreement provided, however, that the foregoing shall have no effect upon any benefits due the Employee under any disability or medical plan or
other employee benefit plan or arrangement of the Company then in effect and provided further that any stock option or restricted stock held by the
Employee shall be treated in accordance with the provisions of the applicable stock option agreement or applicable restricted stock agreement,
respectively. In addition, the Company shall pay to such designated person or the estate that portion of the annual Bonus, on the date set forth herein,
that is equal to the number of days the Employee was employed by the Company (based on the Date of Termination), in the year that such termination
occurred, divided by 365 and multiplying the result thereof by the annual Bonus otherwise payable through the end of the year in which such
termination occurred (or based on the average annual Bonus paid to the Employee for the Employee’
s two prior years of employment if the Employee
has been employed two or more years), as if such termination had not occurred.
(c) Cause . If the Employee’
s employment shall be terminated pursuant to Section 3(c), the Company shall pay within ten (10)
business days of the Date of Termination the Employee the applicable portion of his Base Salary due through the applicable Date of Termination at the
rate in effect at the time Notice of Termination is given and, following such payments, the Company shall have no further obligation to the Employee
under this Agreement provided, however, that the foregoing shall have no effect upon any benefits due the Employee under any disability or medical
plan or other employee benefit plan or arrangement of the Company then in effect and provided further that any stock option or restricted stock held by
the Employee shall be treated in accordance with the provisions of the applicable stock option agreement or applicable restricted stock agreement,
respectively.
(d) Voluntary Resignation
. If the Employee voluntarily resigns pursuant to Section 3(d) (except for Good Reason) the Company
shall pay Employee within ten (10) business days of the Date of Termination the applicable portion of his Base Salary due through the applicable Date
of Termination at the rate in effect at the time Notice of Termination is given to the Company and, following such payments, the Company shall have
no further obligation to the Employee under this Agreement; provided, however, that the foregoing shall have no effect upon any benefits due the
Employee under any disability or medical plan or other employee benefit plan or arrangement of the Company then in effect and provided further that
any stock option or restricted stock held by the Employee shall be treated in accordance with the provisions of the applicable stock option agreement or
applicable restricted stock agreement, respectively.
(e) Without Cause; For Good Reason . If the Employee’s employment shall be terminated by the Company without “Cause”
pursuant to Section 3(e) or by the Employee for “Good Reason”
pursuant to Section 3(d), the Company shall pay the Employee the following
compensation:
8