Early Termination by Executive. Executive may terminate this Agreement at any time by giving Employer written notice of his resignation ninety (90) days in advance; provided, however, that the Board of Directors may determine upon receipt of such notice that the effective date of such resignation shall be immediate or some time prior to the expiration of the ninety-day notice period. Executive's employment shall terminate as of the effective date of his resignation as determined by the Board of Directors.
Early Termination by Executive. The Executive may terminate employment voluntarily at any time after giving the Company at least 180 days' advance written notice.
Early Termination by Executive. Notwithstanding any other provision of this Agreement to the contrary, at any time during the thirty (30) day period beginning on the day following the nine-month anniversary of the effective date of this Agreement, Executive may voluntarily terminate his employment under this Agreement upon written notice to the President of the Bank and, within ten (10) business days thereafter, receive a lump-sum payment equal to two (2) times Executive's Base Salary in effect on the date of termination and this Agreement shall be terminated. In the event Executive exercises the election provided by this Section 23, the noncompetition restrictions of Section 11 shall apply as if Executive's employment terminated pursuant to an Event of Termination, except that the restrictions shall be limited in geographic scope to the City of Winnsboro, South Carolina and any location within a ten-mile radius of Winnsboro, and such restrictions shall also be limited to a six (6) month period beginning on the effective date of Executive's termination of employment pursuant to this Section 23.
Early Termination by Executive. Executive shall be entitled to terminate this Agreement for any reason or no reason at all effective on the second anniversary of the Commencement Date by giving the Company written notice of such intention at least ninety (90) days prior to the effective date of such second anniversary.
Early Termination by Executive. Subject to Section 3, if Executive terminates his employment with ASV or an affiliate prior to the date that Executive has attained age fifty-five (55), Executive shall not be entitled to the benefit set forth in Section 1.1, but shall instead be entitled to a supplemental retirement benefit described in this Section 1.4. The benefit shall be in the form of a series of annual cash payments. The amount of the benefit shall be the product of (a) a benefit amount based on the age of the Executive at the time of his termination of employment in accordance with the schedule set forth in Section 1.3, multiplied by (b) a vesting percentage determined in accordance with the schedule set forth below. The first payment shall be made within sixty (60) days following the later of (a) the date of Executive’s termination of employment, or (b) the earliest date that such payment would be fully deductible by ASV for federal income tax purposes. The benefit shall end, and the last payment shall be made, on the date Executive attains the age in the schedule set forth in Section 1.3 and based on the age of the Executive at the time of his termination of employment. Other than the first payment, which shall be paid on the date specified above, each annual cash payment shall be made on the first business day following Executive’s birthday (or as soon as administratively feasible after such date). Vesting Schedule Age at time of Vesting Termination Percentage 48 0% 49 15% 50 30% 51 45% 52 60% 53 75% 54 90%
Early Termination by Executive. Executive may terminate his employment hereunder at any time, with or without good reason, provided Executive shall be entitled to the additional payments provided for in Paragraph C of Exhibit A hereto in the event of any such termination by Executive (other than a termination pursuant to Section 6 below) prior to December 31, 2006.
Early Termination by Executive. Notwithstanding the foregoing, the Executive may at any time on and after July 1, 1999 terminate the Agreement prior to March 11, 2001. If the Executive so elects to terminate this Agreement, then Executive shall give Company two hundred seventy (270) days prior written notice. The termination date shall be on the close of business on the 270th day after notice is given as described in paragraph 13 hereof.
Early Termination by Executive. Executive may terminate his employment for Good Reason at any time, with or without notice. “Good Reason” shall mean that Executive has resigned because of an illegality, breach of fiduciary duty, breach of the securities laws, or similar violation on the part of the Company. Executive may terminate his employment with the Company for any reason upon thirty (30) days prior written notice to the Company. Executive may be required to perform his job duties and will be paid his regular salary and benefits up to the date of the termination. At the option of the Company, the Company may require Executive to terminate employment upon the Company receiving said thirty (30) days’ notice from Executive. In such event, the Company will pay to Executive an amount equal to thirty (30) calendar days of his Base Salary. Executive will not be entitled to receive any other compensation or severance allowance under this Agreement. In the event Executive resigns, quits or otherwise terminates this Agreement under this paragraph without Good Reason (as defined herein), Executive shall, upon demand by the Company: (i) return to the Company the two (2) quarterly bonuses paid by the Company prior to Executive’s early termination, if applicable; and (ii) repay any loans made by Company in connection with this Agreement or otherwise, if applicable. Further, Executive authorizes the Company to deduct and/or offset said amounts from any compensation or other sums that may be due to Executive at such time.
Early Termination by Executive. (a) Executive shall have the right to terminate this Agreement at any time after the end of the second year of the term of this Agreement if the aggregate salary and bonus paid to him with respect to the second year of the term does not equal or exceed the sum of the first year's salary set forth in paragraph 5 and the signing bonus set forth in paragraph 8.
Early Termination by Executive. Executive shall have the right to terminate this Agreement at any time if neither Kennxxx Xxxxxxxx xxx Michxxx Xxxxx xx serving as Chairman of the Board or President, respectively, of Employer.
