BY RESIGNATION Clause Samples
The "By Resignation" clause outlines the process and conditions under which a party, typically an employee or officer, may voluntarily leave their position by submitting a formal notice of resignation. This clause usually specifies the required notice period, the method of delivering the resignation (such as written notice), and any obligations the resigning party must fulfill before departure, like completing outstanding work or returning company property. Its core practical function is to provide a clear and orderly procedure for voluntary departures, minimizing disruption and ensuring both parties understand their rights and responsibilities during the transition.
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BY RESIGNATION. If Employee resigns with “Good Reason” (as defined below), this Agreement shall terminate but: (a) Employee shall receive the immediate payout of all salary through the end of the term of this agreement, but in no event less than an amount equal to the last twelve months of salary paid to Employee and (b) all of Employee’s “Options” (as such term is defined in this Agreement) shall be deemed vested. For purposes of this Agreement, “Good Reason” shall mean: (i) the assignment to Employee of duties inconsistent with the position and nature of Employee’s employment, the reduction of the duties of Employee which is inconsistent with the position and nature of Employee’s employment, or the change of Employee’s title indicating a change in the position and nature of Employee’s employment; (ii) a reduction in compensation and benefits of Employee without Employee’s written consent; (iii) the failure by Employer to obtain from any successor, an agreement to assume and perform this Agreement; (iv) a corporate “Change In Control” (as defined below). For purposes of this Agreement, “Change In Control” shall mean (1) a merger or consolidation (except those detailed in Addendum A, section 2,) in which securities possessing more than fifty percent (50%) of the total combined voting power of Employer’s outstanding securities are transferred to a person or persons different from the persons holding those securities immediately prior to such transaction in a transaction approved by the stockholders, or the sale, transfer, or other disposition of more than fifty percent (50%) of the total combined voting power of Employer’s outstanding securities to a person or persons different from the persons holding those securities immediately prior to such transaction; or (2) the sale, transfer or other disposition of all or substantially all of the Employer’s assets in complete liquidation or dissolution of Employer other than in connection with a transaction described in Section 6.1(1) above. If Employee resigns without Good Reason, Employee shall be entitled to receive Employee’s Salary and Incentive Compensation only through the date of such resignation and Employee’s Options shall be deemed vested only through the date of such resignation.
BY RESIGNATION. A member who resigns shall give the Employer six (6) months notice in writing. The notice period may be waived by mutual agreement of the member and the Employer.
BY RESIGNATION. If Employee resigns, Employee shall be entitled to receive Employee’s Salary and Incentive Compensation only through the date of such resignation and Employee’s Option Shares shall be deemed vested only through the date of such resignation.
BY RESIGNATION. If Employee resigns with “Good Reason” (as defined below), this Agreement shall terminate but: (a) Employee shall continue to receive, Incentive Compensation in accordance with the terms and conditions of Addendum A and Employee’s Salary payable in periodic installments on Employer’s regular paydays, at the rate then in effect for a period of two years; and (b) all of Employee’s “Incentive Option Shares” (as such term is defined in this Agreement) shall be deemed vested. For purposes of this Agreement, “Good Reason” shall mean: (i) the assignment to Employee of duties inconsistent with the position and nature of Employee’s employment as President and Chief Operating Officer; for greater certainty the Employer being a development stage junior exploration company, the substantial and material reduction of the duties of Employee which is inconsistent with the position and nature of Employee’s employment as President, or the change of Employee’s title indicating a substantial and material change in the position and nature of Employee’s employment; (ii) a non-consensual, significant and substantial reduction in compensation and benefits that would diminish the aggregate value of Employee’s compensation and benefits without Employee’s written consent (except in the case of an equal reduction in salaries for all senior executives because of the financial condition of Employer); or (iii) the failure by Employer to obtain from any successor, an agreement to assume and perform this Agreement. If Employee resigns without Good Reason, Employee shall be entitled to receive Employee’s Salary and Incentive Compensation only through the date of such resignation and Employee’s Option Shares shall be deemed vested only through the date of such resignation.
BY RESIGNATION. By the Executive upon providing thirty (30) days written notice to the Company, provided, however, that, in the event of termination by resignation, the Company will pay to Executive accrued but unpaid annual salary through the date of termination.
BY RESIGNATION. By discharge.
BY RESIGNATION. If Employee resigns for any reason, Employee will be entitled to accrued but unpaid Base Salary and accrued benefits through the effective date of Employee’s resignation. Upon termination of Employee’s employment by resignation, except for the obligations set forth in this subsection e), the obligations of the Company to make any further payments or to provide any further benefits to Employee under this Agreement will cease and terminate.
BY RESIGNATION. If ▇▇▇▇▇ resigns with “Good Reason” (as defined below), this Agreement shall terminate but ▇▇▇▇▇ shall continue to receive, through the end of the Term of this Agreement ▇▇▇▇▇’▇ Salary payable in periodic installments on Rubicon’s regular paydays, at the rate then in effect. For purposes of this Agreement, “Good Reason” shall mean: (i) the assignment to ▇▇▇▇▇ of duties substantially and materially inconsistent with the position and nature of ▇▇▇▇▇’▇ employment, the substantial and material reduction of the duties of ▇▇▇▇▇ which is inconsistent with the position and nature of ▇▇▇▇▇’▇ employment, or the change of ▇▇▇▇▇’▇ title indicating a substantial and material change in the position and nature of ▇▇▇▇▇’▇ employment; (ii) a reduction in compensation and benefits that would substantially diminish the aggregate value of ▇▇▇▇▇’▇ compensation and benefits without ▇▇▇▇▇’▇ written consent; (iii) the failure by Rubicon to obtain from any successor, an agreement to assume and perform this Agreement; or (iv) a corporate “Change In Control” (as defined below). For purposes of this Agreement, “Change In Control” shall mean (1) a merger or consolidation in which securities possessing more than fifty percent (50%) of the total combined voting power of Rubicon’s outstanding securities are transferred to a person or persons different from the persons holding those securities immediately prior to such transaction in a transaction approved by the stockholders, or the sale, transfer, or other disposition of more than fifty percent (50%) of the total combined voting power of Rubicon’s outstanding securities to a person or persons different from the persons holding those securities immediately prior to such transaction; or (2) the sale, transfer or other disposition of all or substantially all of the Rubicon’s assets in complete liquidation or dissolution of Rubicon other than in connection with a transaction described in Section 6.1(1) above. If ▇▇▇▇▇ resigns without Good Reason, ▇▇▇▇▇ shall be entitled to receive ▇▇▇▇▇’▇ Salary only through the date of such resignation.
BY RESIGNATION. If Employee resigns with "Good Reason" (as defined below), this Agreement shall terminate but: (a) Employee shall continue to receive, through the end of the Term of this Agreement, Incentive Compensation in accordance with the terms and conditions of Addendum A and Employee's Salary payable in periodic installments on Employer's regular paydays, at the rate then in effect; and (b) all of Employee's "Purchased Shares" (as such term is defined in the Stock Purchase Agreement) shall be deemed vested. For purposes of this Agreement, "Good Reason" shall mean: (i) the assignment to Employee of duties substantially and materially inconsistent with the position and nature of Employee's employment, the substantial and material reduction of the duties of Employee which is inconsistent with the position and nature of Employee's employment, or the change of Employee's title indicating a substantial and material change in
BY RESIGNATION. Executive may terminate employment with the Company at any time upon thirty (30) calendar days’ prior written notice to the Company. The Company reserves the right to waive this notice period or any portion thereof and accelerate Executive’s separation date accordingly; provided that the Company shall pay to Executive his Base Salary though the full notice period.