Termination of Employment; Termination Payments Sample Clauses

Termination of Employment; Termination Payments. Employment of Executive under this Agreement and this Agreement may be terminated for any of the following reasons:
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Termination of Employment; Termination Payments. The Company and Executive acknowledge that Executive shall serve as an officer of the Company and shall remain on the Company's payroll and receive basic salary at his current annual rate through the Date of Termination at which date Executive will terminate his employment with the Company. This Settlement Agreement supercedes and replaces the Employment Agreement entered into between the parties. Executive shall receive the payments as provided in Exhibit A to this Agreement including but not limited to (i) his current annual base salary of $350,000 and non-incentive compensation (including automobile allowance) and the Executive's then current benefits for two years; and (ii) $350,000 constituting an amount equal to two times the Executive's cash bonus calculated at 50% of his current annual base salary which shall be paid in equal bi-weekly installments over such two year period. The latter payment is full and final satisfaction of all the Company's obligations for bonus and/or other incentive payments. If Company fails to make payment of two bi-weekly installments within 15 days of the date when due, the entire balance remaining becomes due and owing at that time. Notwithstanding the foregoing, the Company may cease payment of any amounts that would otherwise have been due under this Agreement if there has been a finding by a Court or Arbitrator that Executive has materially breached Sections 7, 8 or 9 of this Agreement to the detriment of the Company. Prior to filing in court or submitting to arbitration, the Company must provide the Executive with written notice setting forth the Board's reasonable, good faith, belief that Executive has breached, together with substantial proof upon which the Board reached such determination, and the Executive must fail to use reasonable best efforts to take corrective action to cure such alleged breach within 30 days of his receipt of such notice. Further, the Company shall be entitled to seek an injunction restraining Executive from any in violation of Sections 7, 8 or 9 of this Agreement, to obtain such equitable relief or to pursue any other available remedies for such violation or threatened violation, including recovery of damages from Executive.
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Termination of Employment; Termination Payments. (a) The Company and Executive acknowledge that Executive shall serve as the Chief Executive Officer of the Company and shall remain on the Company's payroll and receive base salary at the current annual rate through the Date of Termination. In addition, until the Date of Termination Executive shall continue to participate in all stock option, performance grants, board compensation programs, bonus, pension, savings, retirement, profit-sharing, subscription, or other incentive or deferred compensation plans of the Company, as well as any welfare and benefit plans, practices, policies and programs of the Company in accordance with their respective terms in which Executive participates as of the date hereof.
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Termination of Employment; Termination Payments. The Company and Executive acknowledge that Executive shall serve as Chairman and Chief Executive Officer of the Company and shall remain on the Company’s payroll and receive base salary at his current annual rate through the Date of Termination at which date Executive’s employment with the Company shall be terminated. Executive shall receive the payments and benefits to which the Executive would have been entitled under Article VI(B) of the Employment Agreement, payable as set forth on Exhibit A. Executive has received $800,000 as an incentive bonus for 2002. Executive shall receive no grant of stock options or restricted shares in 2003 or any subsequent year.
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Termination of Employment; Termination Payments. The Company and Executive acknowledge that Executive shall remain on the Company's or an Affiliate's payroll as a non-officer and receive base salary at his current annual rate through the Date of Termination at which date Executive's employment with the Company shall be terminated. Executive hereby resigns from all officerships, directorships and other positions with the Company and its Affiliates as of December 21, 1999, and agrees to acknowledge such resignation pursuant to the attached letter of resignation.
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Termination of Employment; Termination Payments 
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Related to Termination of Employment; Termination Payments

  • Termination of Employment Severance Your immediate supervisor or the Company's Board of Directors may terminate your employment, with or without cause, at any time by giving you written notice of your termination, such termination of employment to be effective on the date specified in the notice. You also may terminate your employment with the Company at any time. The effective date of termination (the "Effective Date") shall be the last day of your employment with the Company, as specified in a notice by you, or if you are terminated by the Company, the date that is specified by the Company in its notice to you. The following subsections set forth your rights to severance in the event of the termination of your employment in certain circumstances by either the Company or you. Section 5 also sets forth certain restrictions on your activities if your employment with the Company is terminated, whether by the Company or you. That section shall survive any termination of this Agreement or your employment with the Company.

  • Term; Termination of Employment The term of this Agreement (the “Term”) begins on the Effective Date and will end, along with Executive’s employment with the Company, on the earliest to occur of the following events.

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

  • Employment Termination This Agreement and the employment of the Executive shall terminate upon the occurrence of any of the following:

  • Termination of Employment Period The employment of the Employee by the Company pursuant to this Agreement shall terminate upon the occurrence of any of the following:

  • Other Termination of Employment In the event of your voluntary termination (other than a Retirement subject to Section 2(c) or a Qualifying Termination subject to Section 2(f)), or termination by the Company or a subsidiary of the Company for misconduct or other conduct deemed by the Company to be detrimental to the interests of the Company or a subsidiary of the Company, you shall forfeit all unvested RSUs on the date of termination.

  • Employment Termination Date The Employment Termination Date shall be as follows: (i) if the Executive’s employment is terminated by Executive’s death, the date of Executive’s death; (ii) if the Executive’s employment is terminated pursuant to any other provision of this Agreement, the date specified in the Notice of Termination (the “Employment Termination Date”).

  • Early Termination of Employment In addition to any Termination of Employment of Executive as a Retired Early Employee under Paragraph 6 of this Agreement, a Termination of Employment of Executive may occur prior to the normal expiration of the Term under the circumstances and with the consequences set forth below.

  • Qualifying Termination of Employment A “Qualifying Termination of Employment” shall mean a termination of Executive’s employment during the Protected Period either (a) by the Company other than for Cause or (b) by Executive for a Good Reason. A termination of employment due to the Executive’s death or Disability during the Protected Period shall not constitute a Qualifying Termination of Employment.

  • Termination of Employment with Severance Benefits (a) The Executive shall be entitled to the severance benefits described in section 9(b) in the event that:

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