Common use of COMPENSATION UPON TERMINATION OTHER THAN FOR CAUSE Clause in Contracts

COMPENSATION UPON TERMINATION OTHER THAN FOR CAUSE. If the Company shall terminate the Executive’s employment for any reason other than pursuant to Sections 8(b), (c) or (d), then the Company shall pay to the Executive, on the Termination Date, his total salary for the full term (five additional years) of his employment under this agreement, regardless of the remaining term of this agreement, and all Stock Options shall immediately and automatically vest on the Employment Termination Date without any further action by the Executive.

Appears in 13 contracts

Samples: Executive Employment Agreement (Arcis Resources Corp), Executive Employment Agreement (Arcis Resources Corp), Executive Employment Agreement (Arcis Resources Corp)

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COMPENSATION UPON TERMINATION OTHER THAN FOR CAUSE. If the Company shall terminate the Executive’s employment for any reason other than pursuant to Sections 8(b), (c) or (d), then the Company shall pay to the Executive, on the Executive his unpaid Salary through Employment Termination Date, his total salary for the full term (five additional years) of his employment under this agreement, regardless of the remaining term of this agreement, Date and all Stock Options shall immediately and automatically vest on the Employment Termination Date without any further action by the Executive.

Appears in 2 contracts

Samples: Executive Employment Agreement (Arcis Resources Corp), Executive Employment Agreement (Arcis Resources Corp)

COMPENSATION UPON TERMINATION OTHER THAN FOR CAUSE. If the Company shall terminate the Executive’s 's employment for any reason other than for Cause or, pursuant to Sections 8(b), (cSection 10(c) or (d), then the Company shall pay to the Executive, on Executive his unpaid Base Compensation through the Termination Date, his total salary for the full term (five additional years) of his employment under this agreement, regardless of the remaining term of this agreement, and all Stock Options shall immediately and automatically vest on the Scheduled Employment Termination Date without at his then effective Base Compensation Rate, plus (2) any further action by the Executiveexpenses incurred in accordance with Section 6 hereof.

Appears in 2 contracts

Samples: Employment Agreement (August Project I Corp), Employment Agreement (August Project I Corp)

COMPENSATION UPON TERMINATION OTHER THAN FOR CAUSE. If the Company shall terminate the Executive’s employment for any reason other than pursuant to Sections 8(b), (c) or (d), then the Company shall pay to the Executive, on the Termination Date, his total salary for the full term (five three additional years) of his employment under this agreement, regardless of the remaining term of this agreement, and all Stock Options shall immediately and automatically vest on the Employment Termination Date without any further action by the Executive.

Appears in 1 contract

Samples: Executive Employment Agreement (Arcis Resources Corp)

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COMPENSATION UPON TERMINATION OTHER THAN FOR CAUSE. If the Company shall terminate the Executive’s employment for any reason other than pursuant to Sections 8(b), (c) or (d), then the Company shall pay to the Executive, on the Termination Date, his total salary for the full term (five additional years) of his employment under this agreement, regardless remainder of the remaining term of this agreementEmployment Period, and all Stock Options shall immediately and automatically vest on the Employment Termination Date without any further action by the Executive.

Appears in 1 contract

Samples: Executive Employment Agreement (Arcis Resources Corp)

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