Without Cause by Employer; Material Breach by Employer Sample Clauses

Without Cause by Employer; Material Breach by Employer. In the event that the Employment Period is terminated by Employer pursuant to Section 3.2.4 or by Executive pursuant to Section 3.2.5, Executive shall Executive shall be entitled to receive the following:
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Without Cause by Employer; Material Breach by Employer. In the event that Executive's employment is terminated by Employer pursuant to Section 3.1.4 hereof or by Executive pursuant to Section 3.1.5 hereof, Executive shall be entitled to the following payments and benefits:
Sample 1Sample 2Sample 3See All (4)
Without Cause by Employer; Material Breach by Employer. In the event that the Executive's employment is terminated by Employer pursuant to Section 3.2.5 hereof or by Executive pursuant to Section 3.2.6 hereof, in addition to the amounts set forth in Section 3.3.1, Employer shall pay to Executive, following the Date of Termination, twelve (12) months of the Base Salary, or of any higher annual compensation rate then in effect (the "Severance Amount"). The Severance Amount shall be paid in twelve (12) monthly installments after the Date of Termination (the first of which shall be paid in the next full payroll cycle after the Date of Termination), each in an amount of $24,166.67, or any higher monthly compensation rate then in effect (the "Monthly Severance Amount"). In addition, an additional bonus shall be paid to Executive at end of the period during which the Monthly Severance Amount is due and payable, in the amount of $72,500.
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Without Cause by Employer; Material Breach by Employer. In the event that the Executive's employment is terminated by Employer pursuant to Section 3.2.4 hereof or by Executive pursuant to Section 3.2.5 hereof, Executive shall be entitled to the following payments: (i) Base Salary through the date the Executive's employment is terminated; and (ii) a pro-rata portion of any amounts Executive would be entitled to under the MICP, if any, accrued on or prior to date Executive's employment is terminated for any reason hereunder. (iii) continuing payments of Base Salary, payable in accordance with the regular payroll practices of Employer, for six (6) months following the date of termination of Executive's employment. 3.3.3.
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Without Cause by Employer; Material Breach by Employer. In the event that the Employment Term is terminated by Employer pursuant to Section 3.2.5 hereof or by Executive pursuant to Section 3.2.6 hereof, Employer shall pay Executive severance in the amount of one (1) times Executive’s Base Salary in effect on the date of termination (“Severance Amount I”). In lieu of and not in addition to Severance Amount I, if a termination as described in the prior sentence occurs within two (2) years after a Change of Control (as defined in Section 3.3.7(d) hereof), Employer shall pay to Executive severance in an amount equal to the product of two (2) multiplied by the sum of Executive’s Base Salary in effect on the date of termination, and if Executive’s termination is not a result of, in whole or in part, Executive’s performance in respect of his duties hereunder, the amount of Executive’s last annual cash bonus for the most recently-completed fiscal year, if any, pursuant to Section 2.2 hereof (“Severance Amount II”). Employer shall pay Severance Amount I in installments, and shall first determine the amount of each installment if Severance Amount I were paid in equal semimonthly installments for twelve (12) months (the “Installment Payment I”) commencing on the forty-fifth (45th) day after the date of termination. Employer shall pay Severance Amount II in installments, and shall first determine the amount of each installment if Severance Amount II were paid in equal semimonthly installments for two (2) years (the “Installment Payment II”) commencing on the forty-fifth (45th) day after the date of termination. If Executive is a “specified employee” as defined under Treas. Reg. §1.409A-1 as of the date of termination, Executive’s installment payments under the applicable schedule above from the forty-fifth (45th) day after the date of termination through the end of the sixth (6th) month after the date of termination shall be reduced in accordance with Section 5.13 of this Agreement and such excess amounts shall be withheld and accumulated and paid to Executive on the first (1st) day of the seventh (7th) month after the date of termination (the “Severance Delayed Payment Date”). In addition, from the first (1st) day of the seventh (7th) month after the date of termination through the end of twelve (12) months after the forty-fifth (45th) day after the date of termination, Employer shall pay the Installment Payments I semimonthly. From the Severance Delayed Payment Date through the end of two (2) years after the forty-fifth ...
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Without Cause by Employer; Material Breach by Employer. In the event that the Employment Period is terminated by Employer pursuant to Section 3.2.4 hereof or by Executive pursuant to Section 3.2.5 hereof, Executive shall be entitled to the following payments: (i) Base Salary through the Termination Date; (ii) a pro-rata portion of any amounts Executive would be entitled to under the MICP, if any, accrued on or prior to the Termination Date; and (iii) continuing payments of Base Salary, payable in accordance with regular payroll practices of Employer, for the greater of: [X] twelve (12) months or [Y] the remaining portion of the Employment Period, as it may be extended as provided in Section 3.1 hereof. 3.3.3.
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Without Cause by Employer; Material Breach by Employer. In the event that the Employment Term is terminated by Employer pursuant to Section 3.2.5 hereof or by Executive pursuant to Section 3.2.6 hereof, Employer shall pay to Executive, subject to Executive's continued compliance with the terms of Section 4 hereof, an amount equal to the Severance Amount. For purposes hereof, "Severance Amount" shall mean the full annual Base Salary amount in effect at such applicable time. Any payments made in accordance with this Section 3.3.2 shall be made in twelve (12) equal monthly installments from the Date of Termination in accordance with Employer's regular payroll practices.
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Related to Without Cause by Employer; Material Breach by Employer

  • Termination by Employer for Cause Employer may terminate Employee’s employment hereunder for “Cause” upon notice to Employee. “Cause” for this purpose shall mean any of the following:

  • Termination by Employer (i) Employer may terminate this Agreement upon written notice for Cause. For purposes hereof, "

  • Termination by Employee (a) Employee may terminate his employment under this Agreement at any time upon thirty (30) days notice to the Company. Employee, at the request of the Company and for a period not to exceed such thirty (30) days as requested by the Company, shall continue to render his services in accordance with this Agreement and shall be paid his regular salary plus performance bonuses and receive his normal benefits up to the Termination Date.

  • Termination by Employee for Good Reason Employee may terminate his employment hereunder for "Good Reason." As used herein, "Good Reason" shall mean the continuance of any of the following after ten (10) days' prior written notice by Employee to the Company, specifying the basis for such Employee's having Good Reason to terminate this Agreement:

  • Termination by Employee with Good Reason Employee may terminate his employment with Good Reason by providing the Company thirty (30) days’ written notice setting forth with reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within sixty (60) days of the occurrence of such event. During such thirty (30) day notice period, the Company shall have a cure right (if curable), and if not cured within such period, Employee’s termination will be effective upon the date immediately following the expiration of the thirty (30) day notice period, and Employee shall be entitled to the same payments and benefits as provided in Section 8(d) above for a termination without Cause, it being agreed that Employee’s right to any such payments and benefits shall be subject to the same terms and conditions as described in Section 8(d) above. Following such termination of Employee’s employment by Employee with Good Reason, except as set forth in this Section 8(e), Employee shall have no further rights to any compensation or any other benefits under this Agreement.

  • Termination by Employee without Good Reason Employee may terminate Employee’s employment under this Agreement at any time without Good Reason, upon thirty (30) days’ prior written notice to Employer. In the event of a termination described in this Section 4(d), Employer shall pay to Employee all of Employee’s Accrued Obligations.

  • Termination by Executive with Good Reason Executive may terminate Executive’s employment with Good Reason by providing the Company fifteen (15) days’ written notice setting forth in reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within sixty (60) days of the occurrence of such event. During such fifteen (15) day notice period, the Company shall have a cure right (if curable), and if not cured within such period, Executive’s termination will be effective upon the date immediately following the expiration of the fifteen (15) day notice period, and Executive shall be entitled to the same payments and benefits as provided in Section 8(d) above for a termination without Cause, it being agreed that Executive’s right to any such payments and benefits shall be subject to the same terms and conditions as described in Section 8(d) above. Following termination of Executive’s employment by Executive with Good Reason, except as set forth in this Section 8(e), Executive shall have no further rights to any compensation or any other benefits under this Agreement.

  • Termination by the Company for Cause or by Executive Without Good Reason If Executive’s employment is terminated by the Company for Cause or by Executive without Good Reason, the Company shall pay Executive all amounts earned or accrued hereunder through the termination date, including:

  • Voluntary Termination by Employee Subject to Section 12 hereof, the Employee may voluntarily terminate employment with the Bank during the term of this Agreement, upon at least 90 days' prior written notice to the Board of Directors, in which case the Employee shall receive only his compensation, vested rights and employee benefits up to the date of his termination (unless such termination occurs pursuant to Section 10(d) hereof or within the Protected Period, in Section 12(a) hereof, in which event the benefits and compensation provided for in Sections 10(d) or 12, as applicable, shall apply).

  • Notice of Termination by Employer 4.3.1(a) In order to terminate the employment of an employee the employer must give to the employee the following notice: Period of Service Period of Notice 1 year or less l week 1 year and up to the completion of 3 years 2 weeks 3 years and up to the completion of 5 years 3 weeks 5 years and over 4 weeks

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