Without Cause or by Executive for Good Reason. If the Company terminates the Executive’s employment without Cause or if the Executive terminates employment for Good Reason, then upon the Executive’s furnishing to the Company and not revoking a waiver of claims in a form satisfactory to the Company (the “Release”) within 60 days following the date of termination, (provided, that if the 60th day falls in the calendar year following the year during which the termination or separation from service occurred, then the payments will commence in such subsequent calendar year; provided further that if such payments commence in such subsequent year, the first such payment shall be a lump sum in an amount equal to the payments that would have come due since Executive’s separation from service) the Executive shall be entitled to the following:
Without Cause or by Executive for Good Reason. If Executive’s employment terminates prior to the expiration of the Term under Paragraph 7(c) or (f), Executive shall receive the Accrued Obligations. Executive also shall be entitled to receive the following:
Without Cause or by Executive for Good Reason. In the event that prior to the expiration of the Term, but following or in connection with, as a result of or in anticipation of, a Change of Control or Potential Change of Control, the Executive’s employment is terminated (i) by the Company without Cause, pursuant to Section 7(d), or (ii) by the Executive for Good Reason, pursuant to Section 7(c), then the Company shall pay the Executive, as severance, in a lump sum payable on the 30th day after the date of termination, the sum of (x) all amounts of Salary accrued, but unpaid, at the date of termination, (y) all amounts of Salary for the entirety of the portion of the Term which remains after the date of termination, and (z) an amount equal to six months’ Salary (provided, however, that the amount provided in subparagraph (z) shall be reduced proportionately to the extent and for such length of time the Executive elects to remain employed after a Change of Control), in addition to the portion, if any, of Executive’s Salary that is accrued but unpaid as of the date of termination, any unpaid expense reimbursements or unpaid vested benefit payments accrued as of the date of termination and such benefits as the Company is obligated by law to extend to Executive, if any. In addition to the foregoing, in the event of a termination of employment pursuant to this Section 9(b), the Company shall, at its expense, continue to provide the Executive with all medical benefits for the remainder of the Term.
Without Cause or by Executive for Good Reason. (i) The Term and Executive’s employment hereunder may be terminated by the Company without Cause or by Executive’s resignation for Good Reason.
Without Cause or by Executive for Good Reason. If (a) ADESA terminates the Executive's employment without Cause under Section 5.4, or (b) the Executive terminates his employment for Good Reason as defined in Section 5.5(a), then ADESA shall pay the Executive at the regular time salary payments are due hereunder his full base salary through April 30, 1999 at the rate in effect at the time Notice of Termination is given. In addition, ADESA will pay to Executive, on the date the same would have been payable under Section 4.2 and the Incentive Compensation Plan, any Performance Bonus and any Incentive Compensation Plan payments that would have been payable to the Executive under Section 4.2 and the Incentive Compensation Plan for the year in which such termination occurred.
Without Cause or by Executive for Good Reason. (i) Lump sum payment of earned but unpaid base salary and bonus, a pro rata share of the current year’s bonus, accrued vacation through the date of termination and an amount equal to the Executive’s then total annual base salary plus annual incentive bonus multiplied by the number associated with his/her position as shown in the table below; Position Multiple Chairman, Chief Executive Officer, President 3 Executive Vice President 2.5 Senior Vice President 2 (ii) Continued medical benefits for a period of eighteen (18) months following the date of termination, unless the Executive becomes reemployed and is eligible for benefits under another employer-provided plan prior to then end of the 18 months;
Without Cause or by Executive for Good Reason. At any time after the commencement of employment, the Company may terminate this Agreement without Cause or Executive may terminate this Agreement for Good Reason (defined below), effective thirty (30) days after written notice is provided to the other party. Should Executive be terminated by the Company without Cause or should Executive terminate with Good Reason during the Term or the Renewal Term (as the case may be), Executive shall receive from the Company, within fourteen (14) days of the effective date of termination, the greater of (a) the base salary and bonus to be paid for the remaining Term or (b) $350,000.
Without Cause or by Executive for Good Reason. In the event the Company terminates this Agreement without Cause or Executive terminates this Agreement for Good Reason, the Company shall pay to Executive for one year the following:
Without Cause or by Executive for Good Reason. At any time after the commencement of employment, the Company may terminate this Agreement without Cause or Executive may terminate this Agreement for Good Reason (defined below), effective thirty (30) days after written notice is provided to the other party. Should Executive be terminated by the Company without Cause or should Executive terminate with Good Reason under this Agreement, Executive shall receive from the Company continuation of his current base salary for two years payable in accordance with the Company’s normal payroll practices; provided, however that the second year of salary continuation payments hereunder shall be offset on a payroll basis against any amounts Executive may earn from employment with another company or from self-employment after one year from the date of termination.
Without Cause or by Executive for Good Reason. If Executive’s employment terminates prior to the expiration of the Term under Paragraph 8(c) or (f), Executive shall receive (i) the Accrued Obligations and (ii) severance pay in an amount of $1,800,000, paid out in equal installments over a period of twelve (12) months (the “Severance Payment”). Subject to Section 16 herein, the Severance Payment will be payable in semimonthly installments on the Company’s regular paydays until fully paid out and commencing on the Company’s first regular payday at least sixty (60) days following Executive’s termination of employment; provided that (i) Executive has timely executed (and not revoked) a general release and waiver of all claims in a form acceptable to the Company and substantially similar to Exhibit A hereto (“General Release”) and (ii) any period of revocation applicable to such General Release has passed; provided further, that the General Release shall be made available to Executive no later than five (5) days following the date of Executive’s termination of employment under Sections 8(c) or (f) herein.
