Common use of Termination Without Cause; Resignation for Good Reason Clause in Contracts

Termination Without Cause; Resignation for Good Reason. (a) The Company may remove Executive at any time without Cause (as defined in Section 2.7) from the position in which Executive is employed hereunder (in which case the Employment Term shall be deemed to have ended) not less than thirty (30) days’ prior written notice to Executive; provided, however, that, in the event that such notice is given, Executive shall be under no obligation to render any additional services to the Company and shall be allowed to seek other employment. In addition, Executive may initiate termination of employment by resigning under this Section 2.1 for Good Reason (as defined in Section 2.7). Executive shall give the Company not less than thirty (30) days’ prior written notice of such resignation.

Appears in 6 contracts

Samples: Employment Agreement (First Potomac Realty Trust), Employment Agreement (First Potomac Realty Trust), Employment Agreement (First Potomac Realty Trust)

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Termination Without Cause; Resignation for Good Reason. (a) The Company may remove Executive at any time without Cause (as defined in Section 2.74) from the position in which Executive is employed hereunder (in which case the Employment Term shall be deemed to have ended) upon not less than thirty sixty (3060) days’ prior written notice to Executive; provided, however, that, that in the event that such notice is given, Executive shall be under no obligation to render any additional services to the Company and shall be allowed to seek other employment. In addition, Executive may initiate a termination of employment by resigning under this Section 2.1 for Good Reason (as defined in Section 2.74). Executive shall give the Company not less than thirty sixty (3060) days’ prior written notice of such resignation.

Appears in 3 contracts

Samples: Employment Agreement (Bancorp, Inc.), Employment Agreement (RAIT Financial Trust), Employment Agreement (RAIT Financial Trust)

Termination Without Cause; Resignation for Good Reason. (a) The Company may remove Executive at any time without Cause (as defined in Section 2.72.8) from the position in which Executive is employed hereunder (in which case the Employment Term shall be deemed to have ended) with not less than thirty (30) days’ prior written notice to Executive; provided, however, that, in the event that such notice is given, Executive shall be under no obligation to render any additional services to the Company and the Trust and Executive shall be allowed to seek other employment. In addition, Executive may initiate termination of employment by resigning under this Section 2.1 for Good Reason (as defined in Section 2.72.8). Executive shall give the Company not less than thirty (30) days’ prior written notice of such resignation. This provision shall not apply if Executive’s employment is terminated by the Company on account of the Executive’s death or Disability.

Appears in 3 contracts

Samples: Employment Agreement (Capital Lodging), Employment Agreement (Capital Lodging), Employment Agreement (Capital Lodging)

Termination Without Cause; Resignation for Good Reason. (a) The Company may remove Executive terminate the Executive’s employment at any time without Cause (as defined in Section 2.7) from upon 90 days’ advance written notice unless the position in which Executive is employed hereunder (in which case the Employment Term entitled to a greater statutory minimum notice period under any applicable legislation and if this applies, such statutory minimum notice shall be deemed to have ended) not less than thirty (30) days’ prior written notice to Executive; provided, however, that, in the event that such notice is given, Executive shall be under no obligation to render any additional services to the Company and shall be allowed to seek other employmentapply. In addition, The Executive may initiate a termination of employment by resigning under this Section 2.1 for Good Reason as described below. Upon termination by the Company without Cause or resignation by the Executive for Good Reason before or after the Change of Control Protection Period (as defined in Section 2.7below). , if the Executive executes and does not revoke a written Release (as defined below), the Executive shall give be entitled to receive, in lieu of any payments under any severance plan or program for employees or executives, the Company not less than thirty (30) days’ prior written notice of such resignation.following:

Appears in 2 contracts

Samples: Employment Agreement (Selina Hospitality PLC), Employment Agreement (Selina Hospitality PLC)

Termination Without Cause; Resignation for Good Reason. (a) The Company may remove Executive at any time without Cause (as defined in Section 2.74) from the position in which Executive is employed hereunder (in which case the Employment Term shall be deemed to have ended) upon not less than thirty sixty (3060) days' prior written notice to Executive; provided, however, that, that in the event that such notice is given, Executive shall be under no obligation to render any additional services to the Company and shall be allowed to seek other employment. In addition, Executive may initiate a termination of employment by resigning under this Section 2.1 for Good Reason (as defined in Section 2.74). Executive shall give the Company not less than thirty sixty (3060) days' prior written notice of such resignation.

Appears in 2 contracts

Samples: Employment Agreement (Rait Investment Trust), Employment Agreement (Rait Investment Trust)

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Termination Without Cause; Resignation for Good Reason. (a) The Company may remove Executive at any time Notwithstanding the provisions of Section 1 hereof, the Board of Directors of the Corporation may, without Cause (as defined hereafter defined), terminate the Executive's employment under this Agreement at any time in Section 2.7) from the position in which Executive is employed hereunder (in which case the Employment Term shall be deemed to have ended) any lawful manner by giving not less than thirty (30) days’ prior days written notice to the Executive; provided, however, that, in the event that such notice is given, Executive shall be under no obligation to render any additional services to the Company and shall be allowed to seek other employment. In addition, The Executive may initiate termination of employment by resigning under this Section 2.1 resign for Good Reason (as defined in Section 2.7). Executive shall give the Company hereafter defined) at any time by giving not less than thirty (30) days’ prior days written notice to the Corporation. If the Corporation terminates the Executive's employment without Cause or the Executive resigns for Good Reason, then in either event the Executive shall be paid a gross sum equivalent to one and one half (1.5) times the annual salary required under Section 3 of the then current term of this Agreement. This sum shall be paid to Employee, at such times as payment was theretofore made, over the eighteen-month period following the date of such termination or resignation.

Appears in 1 contract

Samples: Employment Agreement (Southern Financial Bancorp Inc /Va/)

Termination Without Cause; Resignation for Good Reason. (ai) The Company may remove Executive at any time without Cause (as defined in Section 2.7) from the position in which Executive is employed hereunder (in which case the Employment Term shall be deemed to have ended) upon not less than thirty (30) days’ prior written notice of termination to Executive; provided, however, that, in the event that such notice is given, Executive shall be under no obligation to render any additional services to the Company and shall be allowed to seek other employment. Should the Company provide Executive with such notice, Executive may elect to resign under this Section 4(a) for Good Reason during the thirty (30) day period. In addition, Executive may initiate termination of employment by resigning under this Section 2.1 4(a) for Good Reason (as defined in Section 2.7)Reason. Executive shall give the Company not less than thirty (30) days’ prior written notice of such resignationresignation provided, however, that in the event that such notice is given, and upon written request from the Company, Executive shall cease to render any additional services to the Company.

Appears in 1 contract

Samples: Agreement (Patient Safety Technologies, Inc)

Termination Without Cause; Resignation for Good Reason. (a) The Company may remove Executive at any time without Cause (as defined in Section 2.7) from the position in which Executive is employed hereunder (in which case the Employment Term shall be deemed to have ended) upon not less than thirty (30) days' prior written notice to Executive; provided, however, that, in the event that such notice is given, Executive shall be under no obligation to render any additional services to the Company and shall be allowed to seek other employment. In addition, Executive may initiate termination of employment by resigning under this Section 2.1 for Good Reason (as defined in Section 2.7). Executive shall give the Company not less than thirty (30) 30 days' prior written notice of such resignation.

Appears in 1 contract

Samples: Employment Agreement (Gurunet Corp)

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