Termination of Previous Employment Agreement. The Employee specifically agrees that the Employment Agreement dated November 22, 1996, as the same may have been amended, by and between the Employee and the Savings Bank hereby is terminated and shall be of no further force or effect, and the Employee hereby waives any and all of his rights, and releases the Bank and the Savings Bank from any and all obligations, under such agreement.
Termination of Previous Employment Agreement. Upon the effectiveness of this Agreement, the current employment agreement between Employee and a subsidiary of the Company shall terminate and shall be of no further force and effect.
Termination of Previous Employment Agreement. The Previous Employment Agreement is terminated on mutual agreement of the Company and Employee effective as of the Effective Date. The Previous Employment Agreement shall be of no further force or effect hereafter, and neither party shall have any further obligations or duties with respect to each other under the Previous Employment Agreement from the termination date forward; however, this termination shall not extinguish Employee’s rights to unreimbursed expenses or benefits.
Termination of Previous Employment Agreement. The parties agree that any previous Employment Agreement is terminated as of the Effective Date of this Agreement and that this Agreement replaces and supersedes any previous Employment Agreement.
Termination of Previous Employment Agreement. Effective as of the Effective Date, Xxxxxxx voluntary resigns from all positions as an officer of XCel and all of its subsidiaries, but shall remain as a director of Xcel. Xxxxxxx acknowledges and agrees that the change in her status and duties on the Effective Date does not constitute grounds for termination by Xxxxxxx for Good Reason (as defined in the Amended and Restated Employment Agreement dated as of February 21, 2012 by and between the Company and Xxxxxxx (the “Previous Employment Agreement”)) and that she is not entitled to receive any Base Salary, Severance Payments or Benefits (as defined in the Previous Employment Agreement) after the Effective Date pursuant to the Previous Employment Agreement. Executive agrees to execute the General Release attached hereto as Exhibit A and hereby delivers such General Release.
Termination of Previous Employment Agreement. In consideration of entering into this letter agreement, OmniCorder and you hereby agree to terminate the Employment Agreement effective on the date hereof, with no further liability or obligation on the part of the parties hereto following the date hereof, except for the confidentiality, non-competition and other obligations described in Paragraphs 5 and 6 above.
Termination of Previous Employment Agreement. Employee and FCB -------------------------------------------- specifically agree that this Agreement supersedes that certain Employment Agreement dated September 22, 1995, as amended, between Employee and FSB (the "FSB Agreement"), and, as additional consideration for FCB's agreements and obligations under this Agreement, Employee hereby waives any and all his rights, and releases FSB and FCB from any and all obligations, under the FSB Agreement and agrees that the FSB Agreement hereby is terminated and shall be of no further force or effect.
Termination of Previous Employment Agreement. The Employee specifically agrees that the Employment Agreement dated June 2, 1993, as the same may have been amended, by and between the Employee and the Bank hereby is terminated and shall be of no further force or effect, and the Employee hereby waives any and all of his rights, and releases the Bank from any and all obligations, under such Employment Agreement. In consideration for the termination of such Employment Agreement and the Employee’s willingness to be bound by the provisions of this Agreement, including, without limitation, Sections 7 and 8 hereof, upon the execution by the Employee of this Agreement, the Bank shall pay to the Employee the amount determined in accordance with Sections 10(c) and (g) of such Employment Agreement.
Termination of Previous Employment Agreement. USPB and CEO agree to terminate the employment agreement between USPB and CEO for the term September 1, 2002 until August 31, 2005 (the "2002-2005 Employment Agreement") effective as of August 31, 2003 upon the following conditions:
Termination of Previous Employment Agreement. Employee and Southern specifically agree that this Agreement supersedes that certain Employment Agreement dated September 22, 1995, between Employee and Enfield (the "Enfield Agreement"), and, as additional consideration for Southern's agreements and obligations under this Agreement, Employee hereby waives any and all rights, and releases Enfield and Southern from any and all obligations (including all rights and obligations under Section 10 thereof pertaining to "changes in control"), under the Enfield Agreement and agrees that the Enfield Agreement hereby is terminated and shall be of no further force or effect.
