Common use of TERMINATION FOR FAILURE TO MEET Clause in Contracts

TERMINATION FOR FAILURE TO MEET. QUARTERLY GOALS Notwithstanding anything stated elsewhere in this Agreement, the parties agree that if Executive is terminated by the Company for failing to substantially meet the Quarterly Goals after the end of each of two successive quarters, Executive shall be entitled to severance under Section 7.1(a) of this Agreement, but shall not be entitled to any accelerated vesting of any outstanding options.

Appears in 5 contracts

Samples: Employment Agreement (Loudeye Corp), Employment Agreement (Loudeye Corp), Employment Agreement (Loudeye Corp)

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TERMINATION FOR FAILURE TO MEET. QUARTERLY GOALS Quarterly Goals Notwithstanding anything stated elsewhere in this Agreement, the parties agree that if Executive is terminated by the Company for failing to substantially meet the Quarterly Goals after the end of each of two successive quarters, Executive shall be entitled to severance under Section 7.1(a) of this AgreementAgreement and bonuses under Section 4.3 (a), but shall not be entitled to any accelerated vesting of any outstanding optionsoptions or restricted stock grants.

Appears in 1 contract

Samples: Executive Employment Agreement (Loudeye Corp)

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