Termination by Employer Not For Cause Sample Clauses

Termination by Employer Not For Cause. The Company may terminate the Executive’s employment at any time for any reason. If the Executive’s employment is terminated without Cause, the Company shall pay the Executive her earned but unpaid Base Salary, her accrued but unused vacation pay and her earned but unpaid bonus, if any, and shall provide her benefits under the applicable benefit plans through the date of termination and otherwise as required by law. In addition, the Executive shall be entitled to a severance payment, as set forth below (the “Severance Payment”), provided she signs a separation agreement and general release of claims (to be prepared by the Company at the time of termination) in exchange for such severance payment:
Sample 1
AutoNDA by SimpleDocs
Termination by Employer Not For Cause. At any time, the Company or Westaff may terminate the Executive's employment for any reason, without Cause, by providing the Executive termination pay equivalent to six (6) months of his then current Base Salary payable in the form of a single lump sum payment. If the Executive's employment is terminated without Cause, the Company shall also pay Executive his earned but unpaid Base Salary, accrued vacation pay through the date of termination, and his earned but unpaid annual incentive pay, if any. Should the Executive's employment be terminated due to or in anticipation of a Change in Control, as defined in Exhibit 1 which is attached hereto and incorporated by reference herein, and the Executive has not been offered a position similar in responsibility, skill requirements and work schedule as his current position, and a position for which the salary offered would require no more than a 10% reduction in Executive's then current pay, but not less than $320,000, and a position that does not require him to travel more than 30 miles from his current primary place of work, he is eligible to receive transition compensation. The Executive shall be eligible for transition compensation for up to one-year following a Change in Control in the form of a single lump sum cash payment equivalent to twelve (12) months of his then current Base Salary, his earned but unpaid Base Salary, accrued vacation pay through the date of termination, and his earned but unpaid annual incentive pay, less appropriate withholdings, provided that he is an active regular employee or on an approved leave of absence of no more than six (6) months in the twelve (12) month period prior to the time of position elimination or restructuring, he has not voluntarily terminated employment prior to the elimination of his position, and he has not been dismissed for Cause or Performance-related Issues. The Executive shall not be entitled to receive the six (6) months termination pay referred to above or any other severance pay or pay in lieu of notice in addition to the transition compensation. All of the foregoing payments shall be less withholdings required by law and agreed upon deductions, if any." All other terms and conditions of the above-referenced Employment Agreement shall remain in full force and effect unless otherwise amended herein. EXECUTIVE: /s/ XXXXXX X. XXXXXXXX Xxxxxx X. Xxxxxxxx COMPANY: WESTAFF SUPPORT, INC. By: /s/ W. XXXXXX XXXXXX W. Xxxxxx Xxxxxx Title: Chairman of the Board WEST...
Sample 1
Termination by Employer Not For Cause. At any time, the Company or Westaff may terminate the Executive's employment for any reason, without Cause, by providing the Executive two (2) weeks' advance written notice or paying him in lieu of notice. If the Executive's employment is terminated without Cause, the Company shall pay the Executive his earned but unpaid Base Salary and accrued vacation pay through the date of termination and his earned but unpaid annual incentive pay, if any. Should the Executive's employment be terminated due to a Change in Control of Westaff, as defined in the Plan, he shall be entitled to a lump sum cash payment of severance pay equal to six (6) months of his then current Base Salary or he may elect to receive such severance pay in installments according to the Company's standard payroll schedule. All of the foregoing payments shall be less withholdings required by law and agreed deductions, if any.
Sample 1

Related to Termination by Employer Not For Cause

  • 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 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, "

  • Termination by Employer Without Cause Employer may terminate the Term (and Executive’s employment) by giving two weeks written notice to Executive. A termination made pursuant to this Section 5.3 is a “termination Without Cause.” A termination made pursuant to Section 5.2 (and satisfying the notice requirement set forth therein) shall under no circumstance be considered a termination Without Cause.

  • Termination by Employee Employee may terminate his employment under this Agreement by 60 days' written notice to the Company.

  • 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:

  • Voluntary Termination by Employee Subject to Section 12 hereof, the Employee may voluntarily terminate employment with the Bank during the term of this Agreement, upon at least 90 days' prior written notice to the Board of Directors, in which case the Employee shall receive only his compensation, vested rights and employee benefits up to the date of his termination (unless such termination occurs pursuant to Section 10(d) hereof or within the Protected Period, in Section 12(a) hereof, in which event the benefits and compensation provided for in Sections 10(d) or 12, as applicable, shall apply).

  • 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 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 the Company for Cause; Termination by the Executive without Good Reason (a) For purposes of this Agreement, “

Time is Money Join Law Insider Premium to draft better contracts faster.