At the Election of the Company for Reasons Other than for Cause Sample Clauses

At the Election of the Company for Reasons Other than for Cause. The Company may terminate the Employee's employment hereunder at any time during the term of this Agreement without cause by giving ninety (90) days' advance written notice to the Employee of an election to terminate. In the event the Company exercises its right to terminate the Employee under this Section 5.4, the Company agrees to pay the Employee (i) a lump sum severance or termination payment equal to the greater of (x) one year's Base Salary at the then current rate or (y) the Base Salary payable for the remaining term under this Agreement, (ii) medical and other health insurance benefits for the severance period set forth in (i) above; and (iii) the pro rata portion of any bonus to which the Employee is otherwise entitled (the "Severance Payments"). Such Severance Payments shall be payable on the Employee's last date of employment hereunder and shall be subject to all applicable federal and state withholding and other taxes. In addition, notwithstanding anything to the contrary contained in any stock option agreement between the Employee and the Company, if the Company exercises its right to terminate the Employee under this Section 5.4, then all stock options then held by the Employee shall automatically accelerate and become fully exercisable as of the date on which the Employee receives notice of termination. Such stock options shall remain fully exercisable until the close of business on the 60th day after the last day of the Employee's employment with the Company hereunder. The Company shall take any and all actions necessary to effect the provisions of this paragraph. It shall be deemed to be a termination "without cause" if the Employee's responsibilities and executive authority are reduced or diluted in any material respect without the Employee's consent (which reduction or dilution is not corrected by the Company within 30 days following written notification by Employee to the Company that Employee intends to terminate his employment for such reason) or the Employee is relocated to another Company office or facility more than 50 miles from Canton, Massachusetts without the Employee's consent. In the event that Employee would, except for the remainder of this Section, be subject to a tax pursuant to Section 4999 of the Internal Revenue Code of 1986, as amended, (the "Code") or any successor provision that may be in effect, as a result of "parachute payments" (as that term is defined in Section 280G(b) (2) (A) and (d) (3) of the Code) made pur...
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At the Election of the Company for Reasons Other than for Cause. The Company may terminate the Employment Period and Employee's employment hereunder at any time during the term of this Agreement without cause by giving sixty (60) days' advance written notice to the Employee of an election to terminate.
Sample 1
At the Election of the Company for Reasons Other than for Cause. The Company may immediately and unilaterally, terminate the Employee’s employment hereunder at any time during the term of this Agreement without cause by giving at least thirty (30) days’ advance written notice to the Employee of the Company’s election to terminate. In the event the Company exercises its right to terminate the Employee under this Section 4(C), and subject to compliance with the Employee of the provisions of the Nondisclosure, Confidentiality, Assignment and Noncompetition Agreement, the Company agrees to pay the Employee a severance or termination payment equal to (i) the greater of the number of months (not greater than twelve (12)) remaining in the term as of immediately prior to the termination of employment, or six (6) months (the “Cash Portion of Severance”) multiplied by the Employee’s then current base rate (excluding any reduction thereof in violation of this Agreement), (ii) if any specific bonus arrangement is then in effect, the portion of any such bonus then earned by (but unpaid
Sample 1
At the Election of the Company for Reasons Other than for Cause. The Company may unilaterally terminate Executive’s employment hereunder at any time during the term of this Agreement without Cause by giving thirty (30) days written notice to Executive of the Company’s election to terminate.
Sample 1
At the Election of the Company for Reasons Other than for Cause. The Company may terminate Employee's employment hereunder at any time during the term of this Agreement without cause upon thirty (30) days' prior written notice to Employee. In the event the Company exercises its right to terminate Employee under this Section 5.7, Employee shall be entitled to (i) twelve (12) months base salary at the then current rate, (ii) medical and other health insurance benefits at the then current levels for a period of twelve months after the date of such termination, (iii) COBRA benefits for up to an additional six months after the expiration of the twelve-month period in clause (ii) above, provided Employee makes the appropriate conversion and payments, (iv) the bonus that Employee would have otherwise earned or accrued under the terms of the ISC Bonus Plan for the full fiscal year in which Employee is terminated, (v) the acceleration of vesting of all stock options previously granted to Employee under the ISC Bonus Plan granted prior to the termination date, and (vi) no other severance or other compensation or benefits. Any such payments shall be payable in equal installments over the term of the severance period. It shall be deemed to be a termination "without cause" if Employee's responsibilities and executive authority are reduced or diluted in any material respect without Employee's consent (which reduction or dilution is not corrected by the Company within thirty (30) days following written notification by Employee to the Company that Employee intends to terminate his employment for such reason), or Employee is relocated to another Company facility or affiliated facility more than fifty (50) miles from Hingham, Massachusetts without Employee's consent.
Sample 1

Related to At the Election of the Company for Reasons Other than for Cause

  • Other than for Cause The Company may terminate the Executive's employment hereunder other than for Cause at any time upon written notice to the Executive.

  • Termination Other Than for Cause If the Employee ceases to be employed by the Company and all Related Corporations, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall terminate on the earlier of (i) thirty (30) days after the date of termination of the Employee's employment, or (ii) the scheduled expiration date of this option. In such a case, the Employee's only rights hereunder shall be those which are properly exercised before the termination of this option.

  • Resignation other than for Good Reason The Executive may voluntarily terminate the Agreement Term and his employment hereunder at any time for any reason, including for any reason that does not constitute Good Reason by giving the Company 30-days advance written notice of such termination.

  • By the Company for Cause The Company may terminate the Executive’s employment hereunder for Cause at any time upon notice to the Executive setting forth in reasonable detail the nature of such Cause. The following, as determined by the Board in its reasonable judgment, shall constitute Cause for termination:

  • Involuntary Termination Other Than for Cause If Executive's employment is terminated as a result of an Involuntary Termination other than for Cause, then the following severance benefits shall be paid or otherwise provided to Executive: (A) the Company shall pay to Executive in the form of a lump sum payment, in cash, a severance payment equal to the lesser of (I) three (3) times Executive's Base Salary or (II) Executive's Base Salary multiplied by the sum of (x) the number of years (or any portion thereof, calculated on a daily basis) remaining under this Agreement had Executive's employment not been terminated, plus (y) an additional one-half year, however, in no event shall such payment equal less than 100% of Executive's Base Salary, which shall be paid to Executive within ten (10) days after the date of termination; (B) until the earlier of (I) the date this Agreement would otherwise have terminated had Executive's employment not been terminated (the 'Remaining Term') or (II) the expiration of the three (3) year period measured from the date of Executive's termination of employment. The Company shall at its sole cost and expense provide Executive (and Executive's eligible dependents, if any) with life, disability, and medical insurance benefits substantially similar to those benefits that Executive (and Executive's dependents) were receiving immediately prior to Executive's termination of employment; provided, however, that the benefits otherwise receivable by Executive pursuant to this Section 9(a)(ii)(B) shall be reduced to the extent comparable benefits are concurrently received by Executive (or Executive's dependents) pursuant to a similar plan or program of another employer, and any such other benefits actually received by Executive (or Executive's dependents) must be reported to the Company; and provided further, however, that the insurance coverage provided by the Company pursuant to this Section 9(a)(ii)(B) shall be in lieu of any other continued coverage to which Executive or Executive's dependents would otherwise, at Executive's own expense, be entitled in accordance with the requirements of Internal Revenue Code of 1986, as amended ('Code'), Section 4980B ('COBRA'), by reason of Executive's termination of employment; (C) all stock options, warrants, rights and other Company stock-related awards granted to Executive by the Company that would otherwise have vested or become exercisable at any time in the future shall become fully vested and nonforfeitable upon the date of Executive's termination of employment, the Company's repurchase rights, if any, with respect to those vested shares shall immediately lapse, and each such stock option, to the extent vested, shall remain exercisable for the vested option shares until the expiration or sooner termination of the option term in accordance with the provisions of the agreement evidencing such option; and (D) the Company shall pay or reimburse Executive for any and all expenses incurred by Executive for outplacement services selected by the Executive and approved by the Company, which approval will not be unreasonably withheld, until the earlier of (I) the first anniversary of the date of termination of employment or (II) the date on which Executive commences employment with another employer.

  • SEVERANCE COMPENSATION IN THE EVENT OF A TERMINATION OTHER THAN FOR CAUSE In the event of a Termination Other Than for Cause, the Employee shall be paid as severance compensation his Base Salary (at the rate payable at the time of such termination) for a period of twelve (12) months from the date of such termination, on the dates specified in Section 3.1, and Employee shall also be paid an amount equal to the average annual bonus earned by the Employee as an employee of Avocent Corporation and its affiliates and predecessors in the two (2) years immediately preceding the date of termination. Notwithstanding anything in this Section 4.2 to the contrary, the Employee may in the Employee’s sole discretion, by delivery of a notice to the Employer within thirty (30) days following a Termination Other Than for Cause, elect to receive from the Employer a lump sum severance payment by bank cashier’s check equal to the present value of the flow of cash payments that would otherwise be paid to the Employee pursuant to this Section 4.2. Such present value shall be determined as of the date of delivery of the notice of election by the Employee and shall be based on a discount rate equal to the interest rate on 90-day U.S. Treasury bills, as reported in The Wall Street Journal (or similar publication), on the date of delivery of the election notice. If the Employee elects to receive a lump sum severance payment, Avocent Corporation shall cause the Employer to make such payment to the Employee within ten (10) days following the date on which the Employee notifies the Employer of the Employee’s election. The Employee shall also be entitled to have the vesting of any awards granted to the Employee under any AHC or Avocent stock option plans fully accelerated. The Employee shall be provided with medical plan benefits under any health plans of Avocent or Employer in which the Employee is a participant to the full extent of the Employee’s rights under such plans for a period of twelve (12) months from the date of such Termination Other Than for Cause (even if Employee elects to receive a lump sum severance payment).

  • Resignation from the Company for Good Reason Executive may resign Executive’s employment with the Company for Good Reason, as defined below.

  • By the Company Other than for Cause The Company may terminate the Executive’s employment hereunder other than for Cause at any time upon notice to the Executive.

  • By the Company for Cause or by the Executive Without Good Reason If: (i) the Company terminates the Executive’s employment with the Company for “Cause” (as defined below); or (ii) the Executive voluntarily terminates the Executive’s employment without “Good Reason” (as defined below), the Executive shall be entitled to receive the following:

  • By the Executive Other than for Good Reason The Executive may terminate his employment hereunder at any time upon thirty (30) days’ notice to the Company. In the event of termination of the Executive pursuant to this Section 5(f), the Board may elect to waive the period of notice, or any portion thereof, and, if the Board so elects, the Company will pay the Executive his Base Salary for the first thirty (30) days of the notice period (or for any remaining portion of that period). The Company shall have no further obligation to the Executive, other than for any Final Compensation due to him.

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