Common use of Separation from the Company Clause in Contracts

Separation from the Company. Executive’s employment with the Company shall continue until the first to occur of (a) the date the Company terminates Executive’s employment for or without Cause (both as defined in the Employment Agreement), (b) the date the Executive resigns for Good Reason (as defined in the Employment Agreement) or without Good Reason, in each case in accordance with the Employment Agreement; provided, the Executive agrees and acknowledges that Executive shall be ineligible to resign for Good Reason prior to November 15, 2018, and (c) Executive’s death or Disability, in each case in accordance with the Employment Agreement (such date, the “Separation Date”). The Company agrees and acknowledges that Executive shall have Good Reason to terminate Executive’s employment as of November 15, 2018, and Executive may voluntarily resign for any reason following November 15, 2018 and prior to February 1, 2019 and such resignation will constitute a termination of employment for Good Reason in accordance with the terms of the Employment Agreement and Section 5 of this Agreement, provided Executive has not incurred a termination for Cause prior to such date. To resign after November 15, 2018, Executive should provide written notice in accordance with Section 5(a)(iv)(A) of the Employment Agreement and Section 14 of this Agreement. Effective as of the Separation Date, the Executive shall cease to be an employee of the Company and shall resign from all other positions as an employee or officer of any member of the Company Group. The Executive shall promptly execute any additional documentation the Company may request to reflect such resignations.

Appears in 2 contracts

Samples: Transition Agreement, Transition Agreement (Ultra Petroleum Corp)

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Separation from the Company. Executive’s employment with the Company shall continue until the first to occur of (a) the date the Company terminates Executive’s employment for or without Cause (both as defined in the Employment Agreement), (b) the date the Executive resigns for Good Reason (as defined in the Employment Agreement) or without Good Reason, in each case in accordance with the Employment Agreement; provided, the Executive agrees and acknowledges that Executive shall be ineligible to resign for Good Reason prior to November 15, 2018, and (c) Executive’s death or Disability, in each case in accordance with the Employment Agreement (such date, the “Separation Date”). The Company agrees and acknowledges that Executive shall have Good Reason to terminate Executive’s employment as of November 15, 2018, and Executive may voluntarily resign for any reason following November 15, 2018 and prior to February 1, 2019 and such resignation will constitute a termination of employment for Good Reason in accordance with the terms of the Employment Agreement and Section 5 of this Agreement, provided Executive has not incurred a termination for Cause prior to such date. To resign after November 15, 2018, Executive should provide written notice in accordance with Section 5(a)(iv)(A5(a)(v)(A) of the Employment Agreement and Section 14 of this Agreement. Effective as of the Separation Date, the Executive shall cease to be an employee of the Company and shall resign from all other positions as an employee or officer of any member of the Company Group. The Executive shall promptly execute any additional documentation the Company may request to reflect such resignations.

Appears in 2 contracts

Samples: Transition Agreement (Ultra Petroleum Corp), Transition Agreement

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