Termination Without Cause Prior to January 1, 2004 Sample Clauses

Termination Without Cause Prior to January 1, 2004. If (i) the Company terminates Executive's employment without Cause in a situation governed by this Section 6.7 prior to January 1, 2004, and (ii) Executive continues to receive cash payments and benefits under the Consulting Agreement from his former employer for the entire term thereof, the Company will have no obligation to make continuing payments of Base Salary and Bonus to Executive or to provide benefits to Executive. If (i) the Company terminates Executive's employment without Cause in a situation governed by this Section 6.7 prior to January 1, 2004, and (ii) Executive's former employer suspends, or does not provide, the cash payments and benefits (as described in Section 5 of the Consulting Agreement), the Company shall, for the remainder of the scheduled term of the Consulting Agreement, continue to pay Executive an amount equal to his Base Salary in effect on the date his employment terminates, in accordance with the Company's normal payroll practices. In addition, the Company shall pay Executive the Bonus provided in Section 4.2 hereof for the Company's 2003 fiscal year and a target Bonus for the Company's 2004 fiscal year, no later than when other executive officers of the Company are paid their bonuses. In addition, the Company shall provide Executive with the benefits set forth in Section 7.4(c) hereof for the remainder of the term of the Consulting Agreement. If Executive receives any payments under the Consulting Agreement after the date his employment with the Company terminates, such amounts will reduce, on a dollar for dollar basis, the cash amounts owing to Executive from the Company under this Section 6.7(a). In addition, the Company shall continue to be bound by, and shall fulfill, its obligation under Section 4.4 to issue the Stock Option and Restricted Shares whether or not Executive receives cash payments or benefits under the Consulting Agreement from his former employer, except that the Stock Option and Restricted Shares will be vested to the following extent on the later of (i) the date of award or (ii) the date of termination of employment: 25% plus the product of (a) 25% and (b) a fraction, the numerator of which is the number of days Executive was employed by the Company and the denominator of which is 365. The Stock Option shall remain exercisable for two (2) years after Executive's termination of employment. Any termination of Executive's employment as a result of the events described in this Section 6.7(a) shall not be tr...
Sample 1
AutoNDA by SimpleDocs

Related to Termination Without Cause Prior to January 1, 2004

  • Termination Without Cause The Company may terminate the Executive’s employment hereunder at any time without Cause. Any termination by the Company of the Executive’s employment under this Agreement which does not constitute a termination for Cause under Section 3(c) and does not result from the death or disability of the Executive under Section 3(a) or (b) shall be deemed a termination without Cause.

  • Termination without Cause or Resignation with Good Reason The Company may terminate the Term of Employment without Cause, and the Executive may terminate the Term of Employment for Good Reason, at any time upon written notice. If the Term of Employment is terminated by the Company without Cause (other than due to the Executive’s death or Disability) or by the Executive for Good Reason, in either case prior to the date of a Change in Control or more than one year after a Change in Control, the Executive shall be entitled to the following:

  • Termination Without Cause or Constructive Termination Without Cause In the event the Executive's employment is terminated without Cause, other than due to disability or death, or in the event there is a Constructive Termination Without Cause, the Executive shall be entitled to:

  • Involuntary Termination Without Cause In the event of the Participant’s involuntary Termination by the Company without Cause, the vested portion of the Option shall remain exercisable until the earlier of (i) ninety (90) days from the date of such Termination, and (ii) the expiration of the stated term of the Option pursuant to Section 3(d) hereof.

  • Termination without Cause or Resignation for Good Reason in Connection with a Change of Control If the Company or its Affiliates terminate Executive’s employment with the Company or its Affiliates, respectively, without Cause or Executive resigns from such employment for Good Reason within twelve (12) months following a Change of Control, and Executive signs and does not revoke a separation agreement and release of claims with the Company (in a form acceptable to the Company), then Executive will receive the following severance from the Company:

  • Termination Without Just Cause In the case of a termination of Executive’s employment hereunder Without Just Cause in accordance with Section 1.6.6, Executive shall be entitled to the following in lieu of any other compensation or benefits (under Section 1.4 of this Agreement or otherwise) from Employer:

  • Involuntary Termination Without Cause and Voluntary Termination with Good Reason With written notice to the Executive at least thirty (30) days in advance, the Bank may terminate the Executive’s employment without Cause. Termination shall take effect at the end of the notice period. With advance written notice to the Bank as provided in clause (y), the Executive may terminate employment for Good Reason. If the Executive’s employment terminates involuntarily without Cause or voluntarily but with Good Reason, the Executive shall be entitled to the benefits specified in Article 4 of this Agreement. For purposes of this Agreement, a voluntary termination by the Executive shall be considered a voluntary termination with Good Reason if the conditions stated in both clauses (x) and (y) of this Section 3.4 are satisfied:

  • Termination by the Company Without Cause or by the Executive with Good Reason During the Term, if the Executive’s employment is terminated by the Company without Cause as provided in Section 3(d), or the Executive terminates his employment for Good Reason as provided in Section 3(e), then the Company shall pay the Executive his Accrued Benefit. In addition, subject to the Executive signing a separation agreement containing, among other provisions, a general release of claims in favor of the Company and related persons and entities, confidentiality, return of property and non-disparagement, in a form and manner satisfactory to the Company (the “Separation Agreement and Release”) and the Separation Agreement and Release becoming fully effective, all within the time frame set forth in the Separation Agreement and Release:

  • Termination without Cause or Resignation for Good Reason in Connection with a Change in Control If the Company terminates Executive’s employment with the Company without Cause (excluding death or Disability) or if Executive resigns from his or her employment for Good Reason, and, in each case, such termination date occurs during the Change in Control Period, then Executive will receive the Accrued Benefits and, subject to Sections 5 through 7, below, Executive will be eligible to receive the following:

  • Constructive Termination Without Cause In the event that: (i) a Constructive Termination Without Cause occurs and (ii) Section 8(F) (change in control) does not apply, then the Executive shall have the same entitlements as provided under Section 8(D) for a termination by the Company without Cause.

Time is Money Join Law Insider Premium to draft better contracts faster.