Termination Without Necessity of Demonstrating Cause Sample Clauses

Termination Without Necessity of Demonstrating Cause. (i) The Employer may, by written notice, terminate Coach’s employment without necessity of demonstrating Cause at any time. In the event that the Employer terminates Coach’s employment pursuant to this Section 17(d)(i) and as long as Coach continued to actively perform his duties as head coach of the Team through such termination date, the Employer shall pay Coach upon fulfillment of the requirements of Section 17(e), as Coach’s sole remedy based upon termination of this Agreement and in full and final satisfaction of any claims arising from termination of Coach’s employment, a severance benefit equal to the Coach’s Base Salary and Additional Compensation payable for the lesser of (1) the then remaining Term or (2) a period of 36 months, based on the rates as in effect as of the termination date and subject to Coach’s obligation of mitigation. Such amount shall be paid by the Employer in equal monthly installments beginning as of the last day of the month in which the effective date of termination occurs and ending as of the date of the final payment due pursuant to the preceding sentence (the “Severance Period”). Notwithstanding the preceding sentence, with respect to any portion of the severance benefit that is payable in a calendar year after the calendar year in which the effective date of termination occurs (“Future Severance Pay”), a portion of the Future Severance Pay shall be accelerated in an amount equal to the federal and state income tax withholdings that would have been remitted by the Employer if there had been a payment of wages equal to the income includible by Coach under Section 457(f) of the Internal Revenue Code (the “Code”) as of the effective date of termination (Future Severance Pay otherwise payable to Coach shall be offset by any such Future Severance Pay accelerated) and such portion shall be paid by the end of the calendar year in which the effective date of termination occurs. The acceleration described in the preceding sentence is intended to comply with the requirements of Section 1.409A-3(j)(4)(iv) of the Code regulations (as it may be amended from time to time), and shall be administered and construed in whatever manner is necessary to ensure such compliance.
Sample 1
AutoNDA by SimpleDocs

Related to Termination Without Necessity of Demonstrating Cause

  • Termination without Notice The Employer may terminate an Employee’s employment without notice if the Employee engages in serious misconduct.

  • Termination Without Default TFC may, at its sole option and discretion, terminate this Contract at any time, for any reason whatsoever, in whole or in part, by giving written notice (the “Notice of Termination”) to Contractor at least thirty (30) days prior to the effective date of termination or reduction in the scope of work. In the event of termination by TFC under this subsection, Contractor shall be governed by the terms and conditions, and shall perform the acts outlined in the following Section 2.3(c) below.

  • 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 by the Authority without Cause The Authority shall have the right to terminate this Framework Agreement, or to terminate the provisions of any part of this Framework Agreement with effect from at any time following nine (9) Months after the Commencement Date by giving at least three (3) Months' written notice to the Supplier.

  • TERMINATION DUE TO CHANGE IN FUNDING ‌ 35 In the event funding from HCA, MCO, State, Federal, or other sources is withdrawn, reduced, or limited 36 in any way after the effective date of this Contract and prior to its normal completion, either party may 37 terminate this Contract subject to re-negotiations.

  • Termination Due To Lack Of Funding Appropriation If, in the judgment of the Director of Accounts and Reports, Department of Administration, sufficient funds are not appropriated to continue the function performed in this agreement and for the payment of the charges hereunder, State may terminate this agreement at the end of its current fiscal year. State agrees to give written notice of termination to contractor at least 30 days prior to the end of its current fiscal year, and shall give such notice for a greater period prior to the end of such fiscal year as may be provided in this contract, except that such notice shall not be required prior to 90 days before the end of such fiscal year. Contractor shall have the right, at the end of such fiscal year, to take possession of any equipment provided State under the contract. State will pay to the contractor all regular contractual payments incurred through the end of such fiscal year, plus contractual charges incidental to the return of any such equipment. Upon termination of the agreement by State, title to any such equipment shall revert to contractor at the end of the State's current fiscal year. The termination of the contract pursuant to this paragraph shall not cause any penalty to be charged to the agency or the contractor.

  • Termination Due to Force Majeure Event If the period of Force Majeure continues or is in the reasonable judgment of the Parties likely to continue beyond a period of 120 (one hundred and twenty) Days, the Parties may mutually decide to terminate this Agreement or continue this Agreement on mutually agreed revised terms. If the Parties are unable to reach an agreement in this regard, the Affected Party shall after the expiry of the said period of 120 (one hundred and twenty ) Days be entitled to terminate the Agreement in which event, the provisions of Articles 16 and 17 shall, to the extent expressly made applicable, apply.

  • T ermination In the event that either party seeks to terminate this DPA, they may do so by mutual written consent and as long as any service agreement or terms of service, to the extent one exists, has lapsed or has been terminated. The LEA may terminate this DPA and any service agreement or contract with the Provider if the Provider breaches any terms of this DPA.

  • Termination due to Force Majeure 13.5.1 If the Force Majeure Event or its effects continue to be present beyond the period as specified in Article 4.5.3, either Party shall have the right to cause termination of the Agreement. In such an event, this Agreement shall terminate on the date of such Termination Notice.

  • Termination in the Event of Financial Difficulties If the HSP makes an assignment, proposal, compromise, or arrangement for the benefit of creditors, or is petitioned into bankruptcy, or files for the appointment of a receiver the Funder will consult with the Director before determining whether this Agreement will be terminated. If the Funder terminates this Agreement because a person has exercised a security interest as contemplated by section 107 of the Act, the Funder would expect to enter into a service accountability agreement with the person exercising the security interest or the receiver or other agent acting on behalf of that person where the person has obtained the Director's approval under section 110 of the Act and has met all other relevant requirements of Applicable Law.

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