Termination by Employer for Any Other Reason Sample Clauses

Termination by Employer for Any Other Reason. If Executive’s employment hereunder shall be terminated by Employer for any reason other than as provided under Sections 6.1, 6.2, or 6.3 of this Agreement, and in addition to accrued and unpaid salary and vacation to the date of termination, Employer shall pay to Executive, as liquidated damages and not as a penalty, an amount equal to 100% of the annual Base Salary of Executive as of the date of termination. Such amount shall be payable (i) in a lump sum immediately subsequent to the date of such termination in the event of a termination in connection with, upon, or within one year after a Change in Control (as hereinafter defined), or a termination by Executive for Good Reason (as hereinafter defined) in connection with, upon, or within one year after a Change in Control, and (ii) in installments commencing immediately in accordance with the customary payroll policy of Employer in effect at the time such payment is made in the event of any other termination governed by this Section 6.4. Executive shall also be entitled to a continuation, at Employer’s expense, of all health and medical benefits and life insurance provided under Section 4 herein for the twelve-month period following such termination of employment so long as such continuation of coverage is permitted under Employer’s benefit plans and applicable law; provided, however, that such coverage shall terminate if Executive commences employment with a subsequent employer within such twelve-month period at such time as Executive’s coverage under such subsequent employer’s benefit plans becomes effective. If any such continuation of coverage is not permitted under Employer’s benefit plans and applicable law, Employer shall pay the monthly premium payments as and when due for any equivalent alternative coverage such as COBRA payments or the like. It is expressly agreed and understood that said payments of liquidated damages will be in complete satisfaction of any and all claims, liabilities and damages of any nature whatsoever relating to or growing out of Executive’s employment or Employer’s termination without Cause of Executive’s employment, except as otherwise stated herein. All payments under this Section 6.4 shall be conditioned upon execution and delivery by the Executive within 30 days of his termination of an appropriate mutual release by Executive and Employer which release shall be provided to the Executive within 5 days of his termination). All unvested options and stock grants granted t...
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Termination by Employer for Any Other Reason. The Employer shall have the right to terminate Employee’s employment at any time for any reason upon written notice to Employee.
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Termination by Employer for Any Other Reason. The Employer shall have the right to terminate Executive’s employment at any time for any other reason upon fifteen (15) working days written notice to Executive.
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Termination by Employer for Any Other Reason. The Employer shall have the right to terminate Employee's employment at any time for any reason upon six (6) months prior written notice to Employee. If Employee's employment is terminated by the Employer during the Employment Term for any reason other than the reason set forth in Sections 5.01, 5.02 or 5.03 above, the Employer shall continue to pay to Employee for a period of twelve (12) months after termination, an amount equal to one hundred percent (100%) of his then current Base Salary in installments on the same dates as the Employer makes payroll payments under its customary practice and an amount equal to the Bonus pursuant to the Annual Incentive Plan he received for the twelve month period preceding such termination of employment . Employee shall also receive Bonus pursuant to the Annual Incentive Plan for the year in which such termination occurs prorated and accrued to the date of termination. In such case Employee shall not be entitled to receive, unless otherwise required by law, any subsequent Other Benefits. In addition, in the event of any such termination, all Options and Restricted Stock Awards that shall have been granted to Employee shall fully and immediately vest.
Sample 1

Related to Termination by Employer for Any Other Reason

  • Termination for Any Other Reason The expiration of three (3) months from the date of an Optionee's termination of employment or contractual relationship with the Company or any Related Corporation for any reason whatsoever other than cause, death or Disability (as defined in Section 5(g) of the Plan). Each unvested Option granted pursuant hereto shall terminate immediately upon termination of the Optionee's employment or contractual relationship with the Company for any reason whatsoever, including death or Disability unless vesting is accelerated in accordance with Section 5(f) of the Plan.

  • Termination by Employer for Cause Employer may terminate Employee’s employment hereunder for “Cause” upon notice to Employee. “Cause” for this purpose shall mean any of the following:

  • 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 by Employee for Good Reason Employee may terminate his employment hereunder for "Good Reason." As used herein, "Good Reason" shall mean the continuance of any of the following after ten (10) days' prior written notice by Employee to the Company, specifying the basis for such Employee's having Good Reason to terminate this Agreement:

  • Termination by the Employer for Cause The Executive’s employment under this Agreement may be terminated for Cause (as defined below) on the part of the Employer effective upon a vote of the Board of Directors, prior to which the Employer shall have given the Executive ten (10) days prior written notice and the opportunity to be heard on such matter at a meeting of the Board. Only the following shall constitute “Cause” for such termination:

  • Termination by the Employee for Good Reason The Employee may terminate this Agreement at any time upon the occurrence of any of the following events (each a "Good Reason"), if such occurrence takes place without the express written consent of the Employee:

  • Termination by Employee for Cause In the event of a Change of Control (as defined below) of the Company that results in either a substantial reduction or change of title in the Employee’s job duties related to his position as CFO or CEO, ,or a decrease in or a failure to provide the compensation or vested benefits under this Agreement or the Company initiates a substantial reduction or change of title in the Employee’s job duties related to his position as CFO, Employee shall have the right to resign his employment and will be entitled to a lump sum severance payment equal to twelve (12) months of Employee’s then base salary payable within thirty (30) days after the date of termination In addition, Employee will be entitled to payment of all unused vacation days at his current daily rate and a lump sum equal to all deferred salaries and earned bonuses. In addition, all Employee’s then outstanding but unvested stock options shall vest one hundred percent (100%). Employee shall have 12 months from the date written notice is given to Employee about the announcement and closing of a transaction resulting in a Change in Control of the Company that would result in a substantial change in the Employee’s job duties or decrease his compensation or vested benefits under this Agreement to resign or this Section 4(c) shall not apply. In the event Employee resigns from the Company for any other reason, Employee will not be entitled to receive or accrue any further Company benefits or other remuneration under this Agreement, and Employee specifically agrees that he will not be entitled to receive any severance pay. For purposes of this Section 4, a Change in Control shall be deemed to have occurred if any of the following occur:

  • Termination by Employer (i) Employer may terminate this Agreement upon written notice for Cause. For purposes hereof, "

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