Termination by Company Without Cause or by Executive with Good Reason Sample Clauses

Termination by Company Without Cause or by Executive with Good Reason. If Executive’s employment with the Company is terminated: (i) by the Company without Cause; or (ii) by Executive for Good Reason (each a “Severance Event”), provided that Executive executes a general release substantially in the form attached as Appendix A hereto and such release becomes effective no later than 60 days after the date of termination, the Company shall: (A) pay Executive the Accrued Benefit; (B) continue to pay Executive, in accordance with the Company’s regular periodic payroll practices in place immediately prior to such termination, an amount equal to Executive’s Base Salary for nine (9) months from the effective date of Executive’s termination (the 5 “Severance Term”); (C) pay Executive an amount equal to seventy-five percent (75%) of Executive’s Target Bonus; and (D) pay an amount throughout the Severance Term equal to Executive’s monthly cost of coverage with respect to health benefits immediately prior to the Termination Event, with payment of such benefits to be made in any event no later than the end of the calendar year immediately following the calendar year in which Executive’s employment terminated. Amounts due under Section 7(b)(A) and (C) shall commence within 60 days after the effectiveness of the release described above; provided that if the 60-day period for providing a general release spans two calendar years, payment shall commence to be made in the second calendar year with a catch-up payment for amounts that would have commenced earlier but for the operation of this sentence. Amounts due under this Section 7(b) shall be paid without mitigation or offset for any other amount earned by Executive. Upon termination of Executive’s employment as the result of a Severance Event, all of Executive’s stock options and other stock-based awards that are subject to time-based vesting and that would otherwise have vested during the nine (9) month period following the effective date of such termination (assuming no termination had occurred) shall immediately accelerate and become fully exercisable or nonforfeitable as of the date of such termination.
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Termination by Company Without Cause or by Executive with Good Reason. If Executive’s employment is terminated by the Company without Cause, or by Executive’s resignation with Good Reason, prior to the end of the Term hereof, then Executive shall be entitled to the Accrued Benefits, and, subject to Executive’s execution (within forty-five (45) days following termination of employment) and non-revocation of a signed release of claims in a form adopted by the Board from time to time (a “Release”), a lump sum separation payment equal to three (3) times Executive’s then-current Base Salary. Amounts due pursuant to the preceding sentence shall be payable to Executive on or before March 15th of the year immediately following the year in which termination of employment occurs.
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Termination by Company Without Cause or by Executive with Good Reason. In addition to the Accrued Benefit, if Executive’s employment is terminated by Company without Cause or by Executive for Good Reason and Executive complies with all the surviving provisions of this Agreement and signs a full general release in a form acceptable to Company, releasing all claims known and unknown, that Executive may have against Company arising out of or in any way related to Executive’s employment or termination of employment with Company (the “Release Agreement”), Company shall provide Executive with a severance package that includes the following benefits:
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Termination by Company Without Cause or by Executive with Good Reason. If Executive’s employment hereunder is terminated by Company pursuant to Section 4.1.4 or by Executive for Good Reason, then, in lieu of any other compensation hereunder:
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Termination by Company Without Cause or by Executive with Good Reason. If the Company terminates Executive’s employment without Cause under Section 5(a), or Executive terminates his employment for Good Reason under Section 5(d), Executive shall be entitled to the following separation benefits:
Sample 1
Termination by Company Without Cause or by Executive with Good Reason. If Executive’s employment hereunder is terminated during the Employment Period by the Company without Cause or by Executive with Good Reason, then Executive will receive the Accrued Obligations and within ten (10) days following Executive’s execution and delivery of the Release of Claims (defined below), Executive will be entitled to receive a severance benefit of nine (9) months of Executive’s then-current Base Salary, plus a prorated Target Annual Bonus, payable either in a lump sum or in installments, as determined by the Company in its sole discretion; provided, however, that if Executive is terminated by the Company without Cause or if Executive resigns from employment as a result of a material diminution of Executive’s duties or material reduction of Executive’s compensation and benefits within the twenty four (24) month period following a Change of Control, the Executive will receive the Accrued Obligations and within ten (10) days following Executive’s execution and delivery of the Release of Claims (defined below), Executive will be entitled to receive a severance benefit of eighteen (18) months of Executive’s then-current Base Salary, plus one and one-half times the Executive's pro-rated Target Annual Bonus, payable either in a lump sum or in installments, as determined by the Company in its sole discretion.
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Termination by Company Without Cause or by Executive with Good Reason. If the Executive's employment with the Company is terminated by: (w) the Company without Cause or (x) by the Executive with Good Reason, then the Company shall, through the Date of Termination, pay the Executive his Accrued Benefit, including the amounts calculated under the special rules described in Section 5(b) of this Agreement, on the conditions that: (y) the Executive delivers a general release of claims in a form and manner satisfactory to the Company ("Release") within ten (10) days of the Date of Termination; and (z) within twenty-one (21) days of the Executive’s receipt of the Release from the Company the Executive does not revoke such Release during a seven (7) day revocation period. If the Executive has met both conditions, the Company shall pay the Executive the following additional amounts sixty (60) days following the Date of Termination of the Executive:
Sample 1
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Related to Termination by Company Without Cause or by Executive with Good Reason

  • Termination by Company without Cause or by Executive for Good Reason If Executive's employment is terminated by the Company without Cause or by Executive for Good Reason:

  • Termination by the Company Without Cause or by Executive for Good Reason If Executive’s employment is terminated by the Company without Cause or by Executive for Good Reason:

  • Termination by Employer Without Cause or by Executive for Good Reason If Employer terminates Executive’s employment without Cause, or if Executive terminates his employment for Good Reason, Employer shall pay Executive in a lump sum: (i) all Base Salary earned and all reimbursable expenses incurred under this Agreement through such termination date; and (ii) an amount equal to one (1) times Executive’s highest Base Salary over the prior three (3) years. The amount described in 5.b.(i) herein shall be paid no later than forty-five (45) days after the day on which employment is terminated. The amount described in 5.b.(ii) herein shall be paid on the first day of the month following a period of six (6) months after the termination of employment, provided that the payment may be made sooner if either (i) the amount does not exceed the IRC Safe Harbor or (ii) at the Executive’s election, the amount described in Section 5.a.(ii) is reduced to fit within the IRC Safe Harbor. No payment will be made pursuant to Section 5.a.(ii) unless the Executive has signed a Release Agreement which has become irrevocable prior to the payment date.

  • Termination Without Cause or by Executive for Good Reason (a) Company and Executive each reserve the right to terminate Executive’s employment at any time. If a Termination Date occurs due to Company terminating Executive without Cause or Executive terminating for Good Reason (as defined herein), then Company or its successor shall have no further obligations under this Agreement except that Company or its successor shall pay to Executive the amounts shown in Section 4.5(c) hereof.

  • Termination by Executive Without Good Reason Executive may terminate his employment upon 30 days’ written notice to the Company. In the event Executive terminates his employment in this manner, he shall remain in the Company’s employ subject to all terms and conditions of this Agreement for the entire 30-day period unless instructed otherwise by the Company in writing.

  • Termination by Employee without Good Reason The Employee shall have the right at any time to terminate the Employee's employment with both Employers without Good Reason by giving the Employers written notice that the Employee is terminating his employment. Any such termination shall apply to the Employee's employment with both Employers and be effective ninety (90) days after the giving of such notice by the Employee.

  • 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.

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