Severance for Termination without Cause. If the Company terminates Employee’s employment without Cause (as defined below), the Company shall pay Employee (i) the portion of Employee’s then current salary accrued to the date of termination but unpaid as of the termination date and (ii) Employee’s then current salary for a period of 180 days following the date of termination, which may be paid either in accordance with the Company’s regular payroll practice for such period or in a lump sum, as determined by the Company. “Cause” shall mean (A) the material breach by Employee of this Agreement, (B) commission by Employee of a willful act of fraud or dishonesty involving the Company, or the commission of, or being charged with, any crime constituting a felony or involving theft, fraud or moral turpitude or (C) engaging in willful or reckless misconduct or gross negligence having an adverse effect on the Company.
Severance for Termination without Cause. If Employer terminates Employee without cause under Section 8, Employer shall pay Employee, upon termination, any unpaid balance of his salary that is due under Section 3(A), together with his salary (at the rate in effect at the time of his removal) for the 180 days after his removal, less state and federal taxes and withholding allowances. Severance must be paid in a lump sum unless otherwise agreed to by the Employer and the Employee. The payment of 180 days’ salary is the only benefit allowed as severance under this section; there are no other payments, benefits or entitlements owed as severance. Notwithstanding any provision to the contrary, Employee is not entitled to any severance if (a) Employee is terminated for cause under Section 8 or (b) Employee voluntarily resigns.
Severance for Termination without Cause. If Crescent terminates the Executive’s employment without Cause, the Executive shall continue to receive the Base Salary for 12 months after the date of termination, but he shall not be entitled to continued participation in Crescent’s or a subsidiary’s 401(k) retirement plan(s) or any stock-based plans. The severance benefit provided in this section 6.4 shall not be payable, however, if the Executive’s employment is terminated without Cause within 12 months after a Change in Control. In addition, if the Executive becomes employed elsewhere during the 12-month period in which severance benefits are payable under this section 6.4, the severance benefit provided in this section 6.4 shall be reduced by the amount of any other compensation earned by the Executive during the 12-month period.
Severance for Termination without Cause. Without limiting the provisions of the foregoing Paragraph 3, in the event that Employee’s employment with the Company is terminated by the Company without Cause (as defined below), Employee will be entitled to the continuation of Employee’s then-current base salary for a period of six (6) months following such termination; provided, however, that such benefit is contingent upon the following: (i) Employee’s employment with the Company shall have been continuous from Employee’s start date through the occurrence of the applicable event; (ii) Employee executes and delivers a general release (in a customary form provided by the Company) of all claims against the Company or persons affiliated with the Company within forty-five (45) days following the date of termination, or such shorter period as the Company may require (with any potential revocation periods having expired); (iii) Employee is not in material breach of any of the provisions of this Agreement or that certain Proprietary Information and Inventions Agreement dated November 16, 2009 which Employee previously executed and delivered to the Company; and (iv) such termination is not by reason of Employee’s death or disability.
Severance for Termination without Cause. Without limiting the provisions of the foregoing Paragraph 3, in the event that Employee’s employment with the Company is terminated by the Company without Cause (as defined below), Employee will be entitled to the following:
Severance for Termination without Cause. In the event that the Company terminates Executive’s employment at any time, upon thirty (30) days’ written notice, without Cause and not under circumstances amounting to a Change in Control, then Executive’s sole remedy shall be payment of the following “Severance Benefit”.
Severance for Termination without Cause. If Employer terminates Employee without Cause under Section 8, Employer shall pay Employee, upon termination, one final installment payment of his salary only for the then-current pay period through the date of termination, together with his salary (at the rate in effect at the time of his removal) for the 180 days after his termination, less state and federal taxes and withholding allowances. Severance must be paid in a lump sum unless otherwise agreed to by the Employer and the Employee. The benefits specified under this section are the exclusive entitlement of Employee in the event of a termination without Cause; there are no other payments, benefits or entitlements owed as severance. Notwithstanding any provision to the contrary, Employee is not entitled to any severance or other benefits if (a) Employee is terminated for Cause under Section 8; or (b) Employee voluntarily resigns.
