Common use of Termination by the Company for Cause or by the Executive without Good Reason Clause in Contracts

Termination by the Company for Cause or by the Executive without Good Reason. If the Executive's employment is terminated by the Company for Cause, the Company shall pay to the Executive, within thirty business days of the Date of Termination, any earned but unpaid Annual Base Salary and all outstanding stock options (whether or not then exercisable) and all of the Executive's unvested equity-based and other incentive awards shall be forfeited as of the Date of Termination. If the Executive's employment is terminated by the Executive without Good Reason (and not due to death, Disability or retirement), the Company shall pay to the Executive, within thirty business days of the Date of Termination, any earned but unpaid Annual Base Salary, the Executive shall have three months (or until the last day of the stock option term, whichever occurs first) to exercise any outstanding vested stock options and all of the Executive's unvested equity-based awards shall be forfeited as of the Date of Termination.

Appears in 4 contracts

Samples: Severance Agreement (Pma Capital Corp), Severance Agreement (Pma Capital Corp), Severance Agreement (Pma Capital Corp)

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Termination by the Company for Cause or by the Executive without Good Reason. If the Executive's ’s employment is terminated by the Company for Cause, Cause the Company shall pay to the Executive, within thirty business days of the Date of Termination, any earned but unpaid Annual Base Salary and all outstanding stock options (whether or not then exercisable) and all of the Executive's ), unvested equity-based stock and other incentive awards shall be forfeited as of the Date of Terminationforfeited. If the Executive's ’s employment is terminated by the Executive without Good Reason (and not due to death, Disability or retirementRetirement), the Company shall pay to the Executive, within thirty business days of the Date of Termination, any earned but unpaid Annual Base Salary, the Executive shall have three months (or until the last day of the stock option term, whichever occurs first) to exercise any outstanding vested stock options and all of the Executive's ’s unvested equity-based awards shall be forfeited as of the Date of TerminationTermination and the Executive’s vested outstanding stock options shall remain exercisable until the earlier of (i) the three month anniversary of the Date of Termination or (ii) the last day of the option term under the applicable option award agreement.

Appears in 4 contracts

Samples: Employment Agreement (Tower Group, Inc.), Employment Agreement (Tower Group, Inc.), Employment Agreement (Tower Group, Inc.)

Termination by the Company for Cause or by the Executive without Good Reason. If the Executive's ’s employment is terminated by the Company for Cause, the Company shall pay to the Executive, within thirty business days of the Date of Termination, any earned but unpaid Annual Base Salary and all outstanding stock options (whether or not then exercisable) and all of the Executive's unvested equity-based ), restricted stock and other incentive awards shall be forfeited as of the Date of Terminationforfeited. If the Executive's ’s employment is terminated by the Executive without Good Reason (and not due to death, Disability or retirement), the Company shall pay to the Executive, within thirty business days of the Date of Termination, any earned but unpaid Annual Base Salary, the Executive shall have three months (or until the last day of the stock option term, whichever occurs first) to exercise any outstanding vested stock options and all of the Executive's ’s unvested equity-based awards shall be forfeited as of the Date of Termination.

Appears in 3 contracts

Samples: Employment Agreement (CastlePoint Holdings, Ltd.), Employment Agreement (CastlePoint Holdings, Ltd.), Employment Agreement (CastlePoint Holdings, Ltd.)

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Termination by the Company for Cause or by the Executive without Good Reason. If the Executive's employment is terminated by the Company for Cause, Cause the Company shall pay to the Executive, within thirty business days of the Date of Termination, any earned but unpaid Annual Base Salary and all outstanding stock options (whether or not then exercisable) and all of the Executive's unvested equity-based ), restricted stock and other incentive awards shall be forfeited as of the Date of Terminationforfeited. If the Executive's employment is terminated by the Executive without Good Reason (and not due to death, Disability or retirement), the Company shall pay to the Executive, within thirty business days of the Date of Termination, any earned but unpaid Annual Base Salary, the Executive shall have three months (or until the last day of the stock option term, whichever occurs first) to exercise any outstanding vested stock options and all of the Executive's unvested equity-based awards shall be forfeited as of the Date of Termination.

Appears in 3 contracts

Samples: Employment Agreement (Tower Group, Inc.), Employment Agreement (Tower Group, Inc.), Employment Agreement (Tower Group, Inc.)

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