Election By Executive Sample Clauses

Election By Executive. Executive’s employment may be terminated at any time by Executive upon not less than 30 days written notice by Executive to the Board.
Sample 1Sample 2Sample 3See All (15)
AutoNDA by SimpleDocs
Election By Executive. Executive's employment may be terminated at any time by Executive upon not less than ninety (90) days written notice by Executive to the Board of Directors. Upon such termination, the obligations of the Executive and Company under this Agreement shall immediately cease. In the event of termination pursuant to this paragraph, Executive shall be entitled to receive any accrued and unpaid base salary and any and all accrued, earned but unpaid bonuses or benefits described in Section 4 to which Executive is entitled on the date of such termination. All other rights Executive has under any benefit or stock option plans and programs shall be determined in accordance with the terms of such plans and programs.
Sample 1Sample 2Sample 3See All (9)
Election By Executive. Executive's employment may be terminated at any time by Executive upon not less than thirty (30) days written notice by Executive to the Board. Except as otherwise set forth in this sub-paragraph (c), upon such termination the obligations of Executive and Company under this Agreement shall immediately cease. In the event of a termination pursuant to this paragraph, Company shall pay to Executive (i) Executive's accrued but unpaid Annual Salary and vacation pay through the effective date of the termination; (ii) Executive's accrued but unpaid Annual Bonus, if any; and (iii) business expenses incurred prior to the effective date of termination. Executive shall not be entitled to continue to participate in any employee benefit plans except to the extent provided in such plans for terminated participants, or as may be required by applicable law.
Sample 1Sample 2See All (4)
Election By Executive. Executive's employment may be terminated at any time by Executive upon not less than ninety (90) days written notice by Executive to the Board. Except as otherwise set forth in this paragraph (a), upon such termination the obligations of Executive and the Company under this Agreement shall immediately cease. In the event of a termination pursuant to this paragraph, the Company shall pay to executive (i) Executive's accrued but unpaid Annual Salary and vacation pay through the effective date of the termination; (ii) Executive's accrued but unpaid Annual Bonus, if any; and (iii) business expenses incurred prior to the effective date of termination and shall transfer to Executive any stock earned but unissued pursuant to Section 3(e). Executive shall not be entitled to continue to participate in any employee benefit plans except to the extent provided in such plans for terminated participants, or as may be required by applicable law.
Sample 1
Election By Executive. Executive may elect to purchase (at the same price and on the same terms and conditions (with the same rights, duties, obligations and privileges) as set forth in the Issuance Notice) up to the Pro Rata Portion (as defined below) of the total number of shares of capital stock (or other such securities) to be issued in the Subsequent Issuance (the "Issued Shares"). "Pro Rata Portion" means a percentage of the Issued Shares equal to the quotient obtained by dividing (i) the number of shares of outstanding Common Stock (including the number of shares of Common Stock issuable upon exercise of any vested, outstanding options for Common Stock that have been granted to Executive) that are held by Executive by (ii) the total number of shares of Common Stock then outstanding (including the number of shares of Common Stock issuable upon exercise of any vested, outstanding options for Common Stock granted to Executive, Ray Gross and Steven Ruzicka). If Executive exercises the preemptive xxxxx xxreundxx xxx xxx Xxxsequent Issuance includes more than one class of stock or securities, Executive shall be required to purchase the same strip of securities (i.e., classes of securities in the same proportion) as are being offered by the Employer.
Sample 1
Election By Executive. Executive’s employment may be terminated at any time by Executive upon not less than 30 days written notice by Executive to the Board. If Executive’s employment is terminated pursuant to this Section 12(c), Company shall pay to Executive (i) Executive’s accrued but unpaid Annual Salary and the value of unused paid time off through the effective date of the termination; (ii) business expenses incurred but unpaid prior to the effective date of termination; and (iii) the Relocation Adjustment, accrued but unpaid prior to the effective date of termination. All payments made pursuant to this paragraph shall be made less legal deductions. Executive shall not be paid the Relocation Adjustment for the remainder of the Payment Period and shall not be entitled to continue to participate in any employee benefit plans except to the extent provided in such plans for terminated participants, or as may be required by applicable law. The disposition of Executive’s options granted pursuant to Section 6 hereof shall be governed by the applicable terms and conditions of the Plan, if the option has been granted pursuant to the Plan, and any award agreement executed in respect of such options.
Sample 1
Election By Executive. Executive may elect to purchase (at the same price and on the same terms and conditions (with the same rights, duties, obligations and privileges) as set forth in the Issuance Notice) up to the Pro Rata Portion (as defined below) of the total number of shares of capital stock (or other such securities) to be issued in the Subsequent Issuance (the "Issued Shares"). "Pro Rata Portion" means a percentage of the Issued Shares equal to the quotient obtained by dividing (i) the number of shares of outstanding Common Stock (including the number of shares of Common Stock issuable upon exercise of any vested, outstanding options for Common Stock that have been granted to Executive) that are held by Executive by (ii) the total number of shares of Common Stock then outstanding (including the number of shares of Common Stock issuable upon exercise of any vested, outstanding options for Common Stock granted to Executive, Paul Lucking and Steven Ruzicka). If Executive exercises the preemptxxx xxxxx xxreundxx xxx xxx Xxxsequent Issuance includes more than one class of stock or securities, Executive shall be required to purchase the same strip of securities (i.e., classes of securities in the same proportion) as are being offered by the Employer.
Sample 1
AutoNDA by SimpleDocs
Election By Executive. In the event of a merger or consolidation of the Company with, or transfer of all or substantially all of its assets to, any corporation or other party other than one in which is an Affiliate (each, a "Triggering Event"), Executive, for Good Reason (as defined below), may at any time, but no later than six calendar months after the consummation of such merger or consolidation or transfer of assets, elect, pursuant to Section 4.1, to cancel and terminate this Agreement. Any stock purchase transaction or series of transactions in which the existing single largest holder of common stock, Mr. Xxxxxx X. Xxxxx, or his successors or assigns, or any group of persons which includes Mr. Xxxxxx X. Xxxxx, or his successors or assigns, is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934) of the single largest portion of the total common stock outstanding or any reorganization of then affiliated entities, with no change in shareholders of the ultimate parent company, shall not be deemed to be a Triggering Event. Such election shall specify the date upon which Executive elects that this Agreement shall terminate to come to an end, which date shall be no sooner than 60 days after the date of such notice. Thereafter, this Agreement shall terminate and come to an end on the date specified in the notice aforesaid, and such termination shall be deemed to be an event of termination under Section 4.1. For purposes hereof, "Good Reason" shall mean (A) a substantial adverse change in Executive's status or position(s) as an executive officer of the Company or its Affiliates as in effect immediately prior to the Triggering Event, including, without limitation, any adverse change in Executive's status or position(s) as a result of a material diminution in duties or responsibilities (other than, if applicable, any such change directly attributable to the fact that the Company is no longer publicly owned) or the assignment to Executive of any duties or responsibilities which, in Executive's reasonable judgment, are inconsistent with such status or position(s) or any removal of Executive from or any failure to reappoint or reelect Executive to such position(s) (except in connection with the termination of Executive's employment for cause (as referred to in Section 4.4) or incapability, as a result of Executive's death, or by Executive other than for Good Reason); or (B) a reduction by the Company or its Affiliates in Executive's Basi...
Sample 1
Election By Executive 
Sample 1

Related to Election By Executive

  • Termination by Executive The Executive may terminate his employment hereunder at any time for any reason by giving the Company prior written notice not less than 30 days prior to such termination. Any termination pursuant to this paragraph 3(e) shall preclude a later claim that such termination was for Good Reason.

  • Resignation by Executive (a) Executive may resign from Executive’s employment with the Company at any time by giving notice as described in Section 7.1.

  • Voluntary Termination by Executive The Executive may voluntarily terminate his employment for any reason and such termination shall take effect 30 days after the receipt by Company of the Notice of Termination. Upon the effective date of such termination, Executive shall be entitled to (a) accrued and unpaid Salary and vacation through such termination date; and (b) all other compensation and benefits that were vested through such termination date. In the event Executive is terminated without notice, it shall be deemed a termination by the Company for Cause.

  • Voluntary Resignation by Executive Executive can voluntarily resign his employment at any time, effective thirty-one (31) days following the date on which a written notice to such effect is delivered to the Company. If Executive’s employment is terminated as a result of Executive voluntarily resigning his employment and for no other reason, Executive shall be entitled to payment of the Accrued Benefits.

  • Termination by Executive with Good Reason Executive may terminate Executive’s employment with Good Reason by providing the Company fifteen (15) days’ written notice setting forth in reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within sixty (60) days of the occurrence of such event. During such fifteen (15) day notice period, the Company shall have a cure right (if curable), and if not cured within such period, Executive’s termination will be effective upon the date immediately following the expiration of the fifteen (15) day notice period, and Executive shall be entitled to the same payments and benefits as provided in Section 8(d) above for a termination without Cause, it being agreed that Executive’s right to any such payments and benefits shall be subject to the same terms and conditions as described in Section 8(d) above. Following termination of Executive’s employment by Executive with Good Reason, except as set forth in this Section 8(e), Executive shall have no further rights to any compensation or any other benefits under this Agreement.

  • Release by Executive (a) Except for any obligations or covenants of the Company pursuant to this Agreement and as otherwise expressly provided in this Agreement, Executive, for himself/herself and his/her heirs, executors, administrators, assigns, successors and agents (collectively, the “Executive’s Affiliates”) hereby fully and without limitation releases and forever discharges the Company and its Related Entities, and each of their respective agents, representatives, stockholders, owners, officers, directors, employees, consultants, attorneys, auditors, accountants, investigators, affiliates, successors and assigns (collectively, the “Company Releasees”), both individually and collectively, from any and all waivable rights, claims, demands, liabilities, actions, causes of action, damages, losses, costs, expenses and compensation, of whatever nature whatsoever, known or unknown, fixed or contingent, which Executive or any of Executive’s Affiliates has or may have or may claim to have against the Company Releasees by reason of any matter, cause, or thing whatsoever, from the beginning of time to the Effective Date (“Claims”), arising out of, based upon, or relating to his/her employment or the termination of his/her employment with the Company and its Related Entities and/or his/her service as an officer of any of the Company Releasees, any agreement or compensation arrangement between Executive and any of the Company Releasees, to the maximum extent permitted by law.

  • Termination by Executive for Good Reason The Executive may terminate employment for Good Reason. For purposes of this Agreement, “Good Reason” shall mean:

  • Assistance by Executive During the period of Executive’s employment by Company and thereafter, Executive shall assist Company and its nominee, at any time, in the protection of Company’s (or its affiliates’) worldwide right, title and interest in and to Work Product and the execution of all formal assignment documents requested by Company or its nominee and the execution of all lawful oaths and applications for patents and registration of copyright in the United States and foreign countries.

  • Resignation by Executive for Good Reason (a) Provided Executive has not previously been notified of the Company’s intention to terminate Executive’s employment, Executive may resign from employment with the Company for Good Reason (as defined in Section 6.4(b) below).

  • Termination by Executive Without Good Reason The Executive may terminate his employment without Good Reason by providing the Company thirty (30) days’ written notice of such termination. In the event of a termination of employment by the Executive under this Section 6(g), the Executive shall be entitled only to the Accrued Obligations. In the event of termination of the Executive’s employment under this Section 6(g), the Company may, in its sole and absolute discretion, by written notice, accelerate such date of termination and still have it treated as a termination without Good Reason.

Time is Money Join Law Insider Premium to draft better contracts faster.