Common use of By the Executive Other than for Good Reason Clause in Contracts

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 by the Executive pursuant to this Section 5(g), 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 and prorated Target Bonus for the notice period (or for any remaining portion of the period). The Company shall also provide the Employee the Accrued Compensation and the Company shall have no further obligation to the Executive hereunder, other than the Surviving Company Obligations. At the election of the Company, in accordance with and subject to the provisions of Section 8(b) hereof and subject to the Executive’s continued compliance with his obligations under Sections 6, 7 and 8 hereof, the Executive shall be entitled to all payments and benefits which the Executive would have been entitled to receive under Section 5(e) hereof as if termination had occurred thereunder, but with a Severance Multiplier of one (1).

Appears in 4 contracts

Samples: Agreement (LPL Investment Holdings Inc.), Agreement (LPL Investment Holdings Inc.), Agreement (LPL Investment Holdings Inc.)

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By the Executive Other than for Good Reason. The Executive may terminate his her employment hereunder at any time upon thirty (30) days’ notice to the Company. In the event of termination by the Executive pursuant to this Section 5(g), 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 her Base Salary and prorated Target Bonus for the notice period (or for any remaining portion of the period). The Company shall also provide the Employee the Accrued Compensation and the Company shall have no further obligation to the Executive hereunder, other than the Surviving Company Obligations. At the election of the Company, in accordance with and subject to the provisions of Section 8(b) hereof and subject to the Executive’s continued compliance with his her obligations under Sections 6, 7 and 8 hereof, the Executive shall be entitled to all payments and benefits which the Executive would have been entitled to receive under Section 5(e) hereof as if termination had occurred thereunder, but with a Severance Multiplier of one (1).

Appears in 2 contracts

Samples: Agreement (LPL Investment Holdings Inc.), Agreement (LPL Investment Holdings Inc.)

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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 by the Executive pursuant to this Section 5(g), 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 and prorated Target Bonus for the notice period (or for any remaining portion of the period). The Company shall also provide the Employee the Accrued Compensation and the Company shall have no further obligation to the Executive hereunder, other than the Surviving Company Obligations. At the election of the Company, in accordance with and subject to the provisions of Section 8(b) hereof and subject to the Executive’s continued compliance with his obligations under Sections 6, 7 and 8 hereof, the Executive shall be entitled to all payments and benefits which the Executive would have been entitled to receive under Section 5(e) hereof as if termination had occurred thereunder, but with a Severance Multiplier of one (1l).

Appears in 1 contract

Samples: Agreement (LPL Investment Holdings Inc.)

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