Natural Termination. In the event that Executive’s employment by the Company pursuant to this Agreement terminates at the scheduled expiration of the Term because of a non-renewal of the Term as a result of a decision by the Company not to renew as contemplated by and in accordance with the last sentence of Section 1 (and not theretofore under Section 4.1, 4.2 or 4.3),
Natural Termination. There are two ways this parking agreement may terminate naturally. If Xxxxxx and Lessee have agreed this agreement should terminate upon a certain date, then the first checkbox statement must be selected and the end date recorded. Otherwise, if this agreement is a monthly arrangement that may be terminated with a number of days’ advance notice by either party then choose the second statement and produce this number of days. Section III. Rent (9)
Natural Termination. In the event that Executive’s employment by TSY pursuant to this Agreement naturally terminates at the end of any term due to non-renewal by TSY (a “Natural Termination”), all compensation or benefits to which Executive may otherwise be entitled to shall cease on the Termination Date, except for (a) any accrued but unpaid Base Salary due Executive as of the Termination Date, and (b) reimbursements for appropriately submitted expenses which have been incurred, but have not been paid by TSY, as of the Termination Date; provided, however, that at the election of TSY in its sole and absolute discretion and upon written notice to the Executive on or prior to the Termination Date, TSY shall pay the Executive a cash payment equal to one (1) times the Executive’s Base Salary which is in effect on the Termination Date, which cash payment shall be made payable over a twelve (12) month period in equal installments in accordance with TSY’s usual and customary payroll practices, commencing on the first payday following the Termination Date (the “Optional Severance Payment”); provided, further, that if Executive is a "key employee" (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended), payment shall not commence until six (6) months following Executive's “separation from service” (within the meaning of Section 409A) to the extent necessary to avoid the imposition of the additional tax under Section 409A (in which such case the first payment shall include all installment payments of the Severance Payment that otherwise would have been made during such six (6) month period).
Natural Termination. Unless extended under Section 4.1 above, this Agreement (and all licenses granted under it) shall expire by its terms on December 31, 2007, except that such expiration shall not effect any royalty or other obligation arising prior to such expiration and shall not affect any rights or obligations which are specifically provided hereunder as surviving expiration or termination of this Agreement.
Natural Termination. In the event that Executive's employment by the Company pursuant to this Agreement naturally terminates on the Termination Date, all compensation or benefits to which Executive may otherwise be entitled to shall cease on the Termination Date, except for (i) any accrued but unpaid Base Salary due Executive as of the Termination Date, and (ii) reimbursements for appropriately submitted expenses which have been incurred, but have not been paid by the Company, as of the Termination Date; provided, however, that at the election of the Company in its sole and absolute discretion and upon written notice to the Executive on or prior to the Termination Date, the Company shall pay the Executive a cash payment equal to two (2) times the Executive's Base Salary which is in effect on the Termination Date, which cash payment shall be made payable over a twenty-four (24) month period in equal installments in accordance with the Company's usual and customary payroll practices, commencing on the first payday following the Termination Date (the "Optional Severance Pay").
Natural Termination. If this Agreement expires in accordance with Section 12.1 above, the Parties’ respective licenses contained in Section 7.3 shall survive as perpetual and fully paid-up licenses with respect to Know-how only.
Natural Termination. Unless otherwise terminated, this Agreement shall terminate December 31, 2023.
Natural Termination. This Agreement shall automatically terminate upon the termination of the Services Agreement as described more fully in Section 2m above.
Natural Termination. In the event that Executive’s employment by CNLR pursuant to this Agreement naturally terminates on a Termination Date, the Company shall pay the Executive (a) any accrued but unpaid Base Salary and performance bonus for the prior year due Executive as of the Termination Date, (b) reimbursements for appropriately submitted expenses which have been incurred, but have not been paid by CNLR, as of the Termination Date; and (c) a pro-rated performance bonus for the year or partial year in which Executive’s employment hereunder is terminated, determined in accordance with paragraph 2 of Attachment “A”. Provided, however, that at the election of CNLR in its sole and absolute discretion and upon written notice to the Executive on or prior to the Termination Date, CNLR may, in addition to the amounts set forth in subsections (a), (b) and (c) above, pay the Executive an optional cash payment equal to one (1) times the Executive’s Base Salary which is in effect on the Termination Date, which cash payment shall be made payable over a twelve (12) month period in equal installments in accordance with CNLR’s usual and customary payroll practices, commencing on the first payday following the Termination Date (the “Optional Severance Payment”).
Natural Termination. In the event that Executive’s employment by the Company pursuant to this Agreement naturally terminates on the Termination Date, all compensation or benefits to which Executive may otherwise be entitled to shall cease on the Termination Date, except for (i) any accrued but unpaid Base Salary and PTO, if any, due Executive as of the Termination Date, and (ii) reimbursements for appropriately submitted expenses which have been incurred, but have not been paid by the Company, as of the Termination Date; provided, however, that at the election of the Company in its sole and absolute discretion and upon written notice to the Executive on or prior to the Termination Date, the Company shall pay the Executive a cash payment equal to two (2) times the Executive’s Base Salary which is in effect on the Termination Date, which cash payment shall be made payable over a twenty-four (24) month period in equal installments in accordance with the Company’s usual and customary payroll practices, commencing on the first payday following the Termination Date (the “Optional Severance Pay”).
