Common use of Without Cause or for Good Reason Clause in Contracts

Without Cause or for Good Reason. In addition to the Accrued Payments, in the event Employee’s employment is terminated by the Company without Cause or by Employee for Good Reason and such termination constitutes a “separation from service” (as defined in Section 5(i)), the Company shall pay to Employee an amount equal to the Performance Bonus that Employee would have been entitled to receive pursuant to Section 3(b) hereof for the calendar year of termination, multiplied by a fraction, the numerator of which is the number of days during which Employee was employed by the Company in the calendar year of Employee’s termination, and the denominator of which is 365 (the “Pro-Rata Bonus”), payable as soon as administratively feasible following preparation of the Company’s unaudited financial statements for the applicable calendar year, but in no event later than March 15 of the calendar year following the calendar year to which such Performance Bonus relates. In addition, the Company shall provide Employee with the following (the “Severance Package”), contingent upon Employee satisfying the Severance Conditions, as defined below:

Appears in 13 contracts

Samples: Employment Agreement (Oasis Petroleum Inc.), Employment Agreement (Oasis Petroleum Inc.), Amended And (Oasis Petroleum Inc.)

AutoNDA by SimpleDocs

Without Cause or for Good Reason. In addition to the Accrued Payments, in the event Employee’s employment is terminated by the Company without Cause or by Employee for Good Reason and Reason, such termination constitutes a “separation from service” (as defined in Section 5(i)), and such termination is not covered by Section 6(a), the Company shall pay to Employee an amount equal to the Performance Bonus that Employee would have been entitled to receive pursuant to Section 3(b) hereof for the calendar year of termination, multiplied by a fraction, the numerator of which is the number of days during which Employee was employed by the Company in the calendar year of Employee’s termination, and the denominator of which is 365 (the “Pro-Rata Bonus”), payable as soon as administratively feasible following preparation of the Company’s unaudited financial statements for the applicable calendar year, but in no event later than March 15 of the calendar year following the calendar year to which such Performance Bonus relates. In addition, the Company shall provide Employee with the following (the “Severance Package”), contingent upon Employee satisfying the Severance Conditions, as defined below:

Appears in 4 contracts

Samples: Employment Agreement (Oasis Petroleum Inc.), Employment Agreement (Oasis Petroleum Inc.), Employment Agreement (Oasis Petroleum Inc.)

Without Cause or for Good Reason. In addition to the Accrued Payments, in the event Employee’s employment is terminated by the Company without Cause or by Employee for Good Reason and such termination constitutes a “separation from service” (as defined in Section 5(i)), the Company shall pay to Employee an amount equal to a pro-rata portion of the Performance Bonus that Employee would have been entitled to receive pursuant to Section 3(b) hereof for the calendar year of termination, multiplied by a fraction, the numerator of which is the number of days during which Employee was employed by the Company in the calendar year of Employee’s termination, and the denominator of which is 365 (the “Pro-Rata Bonus”), payable as soon as administratively feasible following preparation of the Company’s unaudited financial statements for the applicable calendar year, but in no event later than March 15 of the calendar year following the calendar year to which such Performance Bonus relates. In addition, the Company shall provide Employee with the following (the “Severance Package”), contingent upon Employee satisfying the Severance Conditions, as defined below:

Appears in 3 contracts

Samples: Employment Agreement (Oasis Petroleum Inc.), Employment Agreement (Oasis Petroleum Inc.), Employment Agreement (Oasis Petroleum Inc.)

Without Cause or for Good Reason. In addition to the Accrued Payments, in the event Employee’s employment is terminated by the Company without Cause or by Employee for Good Reason and such termination constitutes a “separation from service” Reason, , the Company shall, subject to the satisfaction by Employee of the Severance Conditions (as defined in Section 5(i)below), the Company shall pay to Employee an amount equal to the Performance Bonus that Employee would have been entitled to receive pursuant to Section 3(b) hereof for the calendar year of terminationtermination based on actual achievement of the Company performance targets, multiplied by a fraction, the numerator of which is the number of days during which Employee was employed by the Company in the calendar year of Employee’s termination, and the denominator of which is 365 or 366, as applicable (the “Pro-Rata Bonus”), payable as soon as administratively feasible following preparation of the Company’s unaudited financial statements for the applicable calendar year, but in no event later than March 15 of the calendar year following the calendar year to which such Performance Bonus relates. In addition, the Company shall provide Employee with the following (the “Severance PackageBenefits”), contingent upon satisfaction by Employee satisfying of the Severance Conditions, as defined below:

Appears in 3 contracts

Samples: Employment Agreement (Oasis Petroleum Inc.), Employment Agreement (Oasis Petroleum Inc.), Employment Agreement (Oasis Petroleum Inc.)

AutoNDA by SimpleDocs

Without Cause or for Good Reason. In addition to the Accrued Payments, in the event Employee’s employment is terminated by the Company without Cause or by Employee for Good Reason and such termination constitutes a “separation from service” Reason, the Company shall, subject to the satisfaction by Employee of the Severance Conditions (as defined in Section 5(i)below), the Company shall pay to Employee an amount equal to the Performance Bonus that Employee would have been entitled to receive pursuant to Section 3(b) hereof for the calendar year of terminationtermination based on actual achievement of the Company performance targets, multiplied by a fraction, the numerator of which is the number of days during which Employee was employed by the Company in the calendar year of Employee’s termination, and the denominator of which is 365 or 366, as applicable (the “Pro-Rata Bonus”), payable as soon as administratively feasible following preparation of the Company’s unaudited financial statements for the applicable calendar year, but in no event later than March 15 of the calendar year following the calendar year to which such Performance Bonus relates. In addition, the Company shall provide Employee with the following (the “Severance PackageBenefits”), contingent upon satisfaction by Employee satisfying of the Severance Conditions, as defined below:

Appears in 1 contract

Samples: Employment Agreement (Oasis Petroleum Inc.)

Without Cause or for Good Reason. In addition to the Accrued Payments, in the event Employee’s employment is terminated by the Company without Cause or by Employee for Good Reason and such termination constitutes a “separation from service” (as defined in Section 5(i)), the Company shall pay to Employee an amount equal to a pro-rata portion of the Performance Bonus that Employee would have been entitled to receive pursuant to Section 3(b) hereof for the calendar year of termination, multiplied by a fraction, the numerator of which is the number of days during which Employee was employed by the Company in the calendar year of Employee’s termination, and the denominator of which is 365 (the “Pro-Rata Bonus”), payable as soon as administratively feasible following preparation of the Company’s unaudited financial statements for the applicable calendar year, but in no event later than March 15 of the calendar year following the calendar year to which such Performance Bonus relates. In addition, the Company shall provide Employee with the following (the "Severance Package”), contingent upon Employee satisfying the Severance Conditions, as defined below:

Appears in 1 contract

Samples: Employment Agreement (Oasis Petroleum Inc.)

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