Payment in Lieu. The Company may, in its sole discretion, at any time after notice of termination without Good Reason has been given to the Company by the Executive, terminate this Agreement, provided that, in addition to any amount payable to the Executive under Section 6(g) herein, the Company shall pay to the Executive (without duplication) his then current Salary and continue benefits provided pursuant to Section 3(d) herein, for the duration of the unexpired notice period.
Appears in 8 contracts
Samples: Employment Agreement (Sotherly Hotels Lp), Employment Agreement (MHI Hospitality CORP), Employment Agreement (MHI Hospitality CORP)
Payment in Lieu. The Company may, in its sole discretion, at any time after notice of termination without Good Reason has been given to the Company by the Executive, terminate this Agreement, provided that, in addition to any amount payable to the Executive under Section 6(g7(g) herein, the Company shall pay to the Executive (without duplication) his then current Salary and continue benefits provided pursuant to Section 3(d) herein, for the duration of the unexpired notice period.
Appears in 3 contracts
Samples: Employment Agreement (Sotherly Hotels Lp), Employment Agreement (Sotherly Hotels Lp), Employment Agreement (Sotherly Hotels Lp)
Payment in Lieu. The Company may, in its sole discretion, at any time after notice of termination without Good Reason has been given to the Company by the Executive, terminate this Agreement, provided that, in addition to any amount payable to the Executive under Section 6(g6(h) herein, the Company shall pay to the Executive (without duplication) his then current Salary and continue benefits provided pursuant to Section 3(d) herein, for the duration of the unexpired notice period.
Appears in 2 contracts
Samples: Employment Agreement (Sunterra Corp), Employment Agreement (Sunterra Corp)
Payment in Lieu. The Company may, in its sole discretion, at any --------------- time after notice of termination without Good Reason has been given to the Company by the Executive, terminate this Agreement, provided that, in addition to any amount payable to the Executive under Section 6(g6(h) herein, the Company shall pay to the Executive (without duplication) his then current Salary and continue benefits provided pursuant to Section 3(d) herein, for the duration of the unexpired notice period.
Appears in 1 contract
Samples: Employment Agreement (Sunterra Corp)
Payment in Lieu. The Company may, in its sole discretion, at any time after notice of termination without Good Reason has been given to the Company by the Executive, terminate this Agreement, provided that, in addition to any amount payable to the Executive under Section 6(g6(h)(iii) herein, the Company shall pay to the Executive (without duplication) his then current Salary and continue benefits provided pursuant to Section 3(d) herein, for the duration of the unexpired notice period.
Appears in 1 contract
Samples: Employment Agreement (Sunterra Corp)
Payment in Lieu. The Company may, in its sole discretion, at any time after notice of termination without Good Reason has been given to the Company by the Executive, terminate this Agreement, provided that, in addition to any amount payable to the Executive under Section 6(g7(g) herein, the Company shall pay to the Executive (without duplication) his then current Salary and continue benefits provided pursuant to Section 3(d) herein, for the duration of the unexpired notice period.
Appears in 1 contract
Payment in Lieu. The Company may, in its sole discretion, at --------------- any time after notice of termination without Good Reason has been given to the Company by the Executive, terminate this AgreementExecutive's employment, provided that, in addition to any amount payable to the Executive under Section 6(g6(h) herein, the Company shall pay to the Executive (without duplication) his then current Base Salary and continue benefits provided pursuant to Section 3(d3(g) herein, for the duration of the unexpired notice period.
Appears in 1 contract
