Common use of Voluntary Termination for Good Reason Clause in Contracts

Voluntary Termination for Good Reason. In the event that Executive's employment with the Company is voluntarily terminated by Executive for "Good Reason" (as defined below), then promptly following such termination of employment, Executive shall (i) receive a lump-sum payment equal to 100% of the Base Salary (less applicable withholding), (ii) receive all accrued vacation, expense reimbursements and any other benefits due to Executive through the date of termination of employment in accordance with established Company plans and policies, (iii) be entitled to the immediate vesting of any and all options granted under any stock option agreement(s), and (iv) be entitled to other compensation and benefits as may be required by law (for example, under Section 4980B of the Code).

Appears in 5 contracts

Samples: Employment Agreement (Travelscape Com Inc), Employment Agreement (Travelscape Com Inc), Employment Agreement (Travelscape Com Inc)

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Voluntary Termination for Good Reason. In the event that Executive's employment with the Company as set forth in this Agreement is voluntarily terminated by Executive for "Good Reason" (as defined below), then promptly following such termination of employment, Executive shall (i) receive a lump-sum payment equal to 100% of the Base Salary (less applicable withholding), (ii) be entitled to immediate 100% vesting of any Company stock options, (iii) receive all accrued vacation, expense reimbursements and any other benefits due to Executive through the date of termination of employment in accordance with established Company plans and policies, policies (iii) be entitled to the immediate vesting of any and all options granted under any stock option agreement(sless applicable withholding), and (iv) be entitled to any other compensation and or benefits from the Company as may be required by law (for example, under Section 4980B of the Code).

Appears in 2 contracts

Samples: Breitling Employment Agreement (Travelscape Com Inc), Employment Agreement (Travelscape Com Inc)

Voluntary Termination for Good Reason. In the event that Executive's employment with the Company is voluntarily terminated by Executive for "Good Reason" within twelve months after the occurrence of a "Change of Control" (both as defined below), then promptly following such termination of employment, Executive shall (i) receive a lump-sum payment equal to 100% of the Base Salary (less applicable withholding), (ii) receive all accrued vacation, expense reimbursements and any other benefits due to Executive through the date of termination of employment in accordance with established Company plans and policies, (iii) be entitled to the immediate vesting of any and all options granted under any stock option agreement(s), and (iv) be entitled to other compensation and benefits as may be required by law (for example, under Section 4980B of the Code).

Appears in 1 contract

Samples: Employment Agreement (Travelscape Com Inc)

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Voluntary Termination for Good Reason. In the event that Executive's employment with the Company is voluntarily terminated by Executive for "Good Reason" (as defined below), then promptly following such termination of employment, Executive shall (i) receive a lump-sum payment equal to 100% of the Base Salary (less applicable withholding), (ii) receive all accrued vacation, expense reimbursements and any other benefits due to Executive through the date of termination of employment in accordance with established Company plans and policies, (iii) be entitled to the immediate vesting of any and all options granted under any stock option agreement(s), and and, (iv) be entitled to other compensation and benefits as may be required by law (for example, under Section 4980B of the Code).

Appears in 1 contract

Samples: Employment Agreement (Travelscape Com Inc)

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