Compensation Upon Early Termination. (a) In the event of termination of this Agreement for “justifiable cause” as described in Section 4.1, or pursuant to Section 1.2 hereof, Employee shall be entitled to the compensation earned by him before the effective date of termination, as provided for in this Agreement, computed pro rata up to and including that date, in lieu of salary and other benefits under this Agreement.
Compensation Upon Early Termination. (a) If Employee resigns during the term of this Agreement (without mutual consent of Employer), or if this Agreement is terminated by Employer for cause, Employee shall be entitled to all accrued but unpaid Base Salary and vacation pay accrued through the date of delivery of the notice of termination, and all non-vested options shall be deemed canceled as of that date.
Compensation Upon Early Termination. Upon early termination, Employer shall pay Employee compensation as follows.
Compensation Upon Early Termination. (a) As a Result of Death, Cause or Resignation. If the Employee's employment under this Agreement is terminated prior to the scheduled expiration of the Term by reason of his death, termination by the Company for Cause or resignation by the Employee, the Employee shall be entitled to be paid solely (i) the Employee's salary then in effect through the effective date of termination, (ii) any accrued vacation due pursuant to Section 3.4, (iii) any amounts due pursuant to Section 3.6, (iv) those benefits, if any, that have vested by operation of state or federal law or under any written term of a plan ("Vested Benefits"), and (v) health care coverage continuation rights under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA Rights"), and the Company shall have no further liability or other obligation of any kind whatsoever to the Employee. In the case of termination as a result of the death of Employee, any amounts due pursuant to this Section 4.4(a) shall be paid to the Employee's estate, heirs (at law), devisees, legatees or other proper and legally entitled descendants, or the personal representative, executor, administrator or other proper legal representative on behalf of such descendants.
Compensation Upon Early Termination. (a) If Executive resigns during the term of this Agreement (without mutual consent of Employer), or if this Agreement is terminated by Employer for cause, Executive shall be entitled only to all accrued but unpaid Base Salary and vacation pay accrued through the date of delivery of the notice of termination. All non-vested options shall be deemed canceled as of that date.
Compensation Upon Early Termination. (a) As a Result of Death, Cause or Resignation without Good Reason. If the Employee’s employment under this Agreement is terminated prior to the scheduled expiration of the Term by reason of his death, termination by Umpqua for Cause or resignation by the Employee without Good Reason, the Employee shall be entitled to be paid solely (i) the Employee's salary then in effect through the effective date of termination, (ii) any accrued but unused vacation pursuant to Section 3.4, (iii) any amounts due pursuant to Section 3.6, (iv) those benefits, if any, that have vested by operation of state or federal law or under any written term of a plan (“Vested Benefits”), and (v) health care coverage continuation rights under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA Rights”), and Umpqua shall have no further liability or other obligation of any kind whatsoever to the Employee. For purposes of this Agreement, “Good Reason” exists if (i) Employee is required to relocate to an office that is 35 miles or more from the office at 0000 Xxxxxx Xxxxxx, Xxxx, Xxxxxxxxxx, and does not consent to such relocation or (ii) Employee’s annual base salary is reduced. In the case of termination as a result of the death of Employee, Employee shall also be entitled to receive any unpaid Change in Control Payment or Retention Bonus and any amounts due pursuant to this Section 4.4(a) shall be paid to the Employee's estate, heirs (at law), devisees, legatees or other proper and legally entitled descendants, or the personal representative, executor, administrator or other proper legal representative on behalf of such descendants.
Compensation Upon Early Termination. (a) If Employee's employment is terminated by Employer for Cause, Employer shall pay Employee his accrued and unpaid Base Salary through the termination date specified in Employer's notice of termination. Employee's rights under any unexercised options to purchase Hi-Rise Common Stock granted to Employee hereunder shall terminate on such termination date and Employee shall have no further rights under or by virtue of this Agreement.
Compensation Upon Early Termination. The following shall be Executive’s exclusive compensation upon termination of employment prior to the expiration of the Term under this Agreement:
Compensation Upon Early Termination. If the Executive’s employment with the Company is terminated for any reason, the Company shall pay or provide to the Executive (or to his authorized representative or estate) any earned but unpaid Base Salary, unpaid expense reimbursements and any vested benefits the Executive may have under any employee benefit plan of the Company (the “Accrued Obligations”). If the Executive’s employment is terminated by the Company without Cause as provided in Section 4(d) or as a result of non-renewal by the Company of the Initial Term or a Renewal Term, as applicable, the Company shall pay the Executive the Accrued Obligations; and, as consideration for the Executive’s promises in Section 6 hereof, the Executive shall also receive an amount equal to his Base Salary, together with such medical benefits in which he has been participating as of the date of termination of the Executive’s employment with the Company, or their equivalent, for a period of twenty-four (24) months following the date of termination of the Executive’s employment with the Company (the “Severance Benefits”). For the avoidance of doubt, the Parties agree that such medical benefits may, at the Company’s option, be provided through reimbursement of the premiums incurred by the Executive to continue coverage under the Company’s medical plans pursuant to COBRA, and/or the cost incurred by the Executive to obtain such medical benefits through other means. The Severance Benefits shall be paid to the Executive in the form of salary continuation, in accordance with the Company’s customary payroll cycles and procedures, subject to the Executive’s compliance with Section 4(f) hereof. Any reimbursement of expenses incurred by the Executive to continue medical coverage by means other than COBRA that are taxable to the Executive shall be paid to the Executive in all events on or before the last day of the Executive’s taxable year following the taxable year in which such expense was incurred. No such payment is subject to liquidation or exchange for another benefit and the amount of such expenses that may be covered by such payments in one taxable year shall not affect the amount of such expenses that may be covered by such payments in any other taxable year. Notwithstanding anything to the contrary in this Section 4(e), if the Executive breaches any of the provisions contained in Section 6 of this Agreement, all payments of the Severance Benefits shall immediately cease.
Compensation Upon Early Termination. As Executive's sole and exclusive compensation for Executive's early termination, the Company shall pay Executive as follows:
