Termination of Employees Employment. The Parties hereto covenant and agree that, as of the Effective Date of this Agreement, the Employee’s employment as the Company’s Chief Executive Officer ceases and terminates. The Company hereby agrees that the Employee’s termination is “Without Cause” in accordance with paragraph 8(c) of the Employment Agreement.
Termination of Employees Employment. In furtherance of the foregoing, Seller shall terminate all Employee Agreements and other employment arrangements with the Employees effective as of the Closing Date and Seller shall be liable for and shall pay all amounts due to such Employees with respect to their employment by Seller and all severance payments or other termination benefits (if any), due to any of the Employees as a result of the termination of their employment with Seller, subject to any settlement agreements to be entered into by Seller and such Employees (subject to applicable Law).
Termination of Employees Employment. Termination of Employee’s Employment means that the Company has terminated Employee’s employment with the Company (including any subsidiary of the Company) other than for Cause (as defined in Section 5.2), death or Disability (as defined in Section 5.3). A Termination of Employee’s Employment is intended to mean a termination of employment which constitutes a “separation from service” under Code Section 409A.
Termination of Employees Employment