Compensation Upon Termination definition

Compensation Upon Termination. This is often inten-­‐ sively-­‐negotiated.
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Compensation Upon Termination is amended by adding the following after the first sentence: “If the Company terminates this Agreement with cause, Employee shall receive from the Company, as long as Employee does not violate the provisions of Section 8 hereof, severance pay equal to 6 month’s Base Salary, payable in equal monthly installments, for a period of 6 months from the date of termination of employment, and all of Employee’s unvested options will terminate immediately, and all vested options to the extent not exercised shall terminate 90 days from the date of the termination of Employee’s employment with cause.”
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Compensation Upon Termination is further amended by adding the following new subsection:
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Examples of Compensation Upon Termination in a sentence

  • Section 4 (Compensation Upon Termination), Section 5 (Competitive Business Activities, Trade Secrets, Confidential Information and Corporation Property), and Section 6 (Change in Control) shall survive the expiration or termination of this Agreement, regardless of the reasons for such expiration or termination, until the obligations set forth therein have been satisfied.

  • The provisions of the sections related to Compensation Upon Termination, Proprietary Inventions and Confidential Information and the General Provisions shall survive any termination of this agreement.

  • The duties and obligations of the Parties set forth in Section 3.D. - Compensation Upon Termination, Section 8 - Record Retention and Inspection, Section 10 - Confidential Information, and Section 14 - Indemnification shall survive the expiration or termination of this Agreement.

  • The duties and obligations of the parties set forth in Section 3 – Compensation Upon Termination, Section 8 – Record Retention and Inspection, Section 10 – Confidential Information and Section 14 – Indemnification shall survive the expiration or termination of this Agreement.

  • It is understood and agreed that any unauthorized use of Company proprietary or confidential information under this provision voids the Company’s obligation to provide Compensation Upon Termination as described in Section 8 of the Agreement.

  • The Executive shall not be required to mitigate the amount of any payment provided for in this Section 1.6 (Compensation Upon Termination) by seeking other employment or otherwise.

  • The duties and obligations of the parties set forth in Section [ ] – Compensation Upon Termination, Section [ ] – Record Retention and Inspection, Section [ ] – Confidential Information and Section [ ] – Indemnification shall survive the expiration or termination of this Agreement.

  • Executive’s at-will status means that the Executive may terminate his employment at any time, with or without reason, subject only to the notice provisions set forth in Sections 7.1 and 8.2(b), and that the Company may terminate Executive at any time, with or without reason, subject only to the notice provision in Section 7.3. The Compensation Upon Termination provisions in Section 8 do not alter Executive’s at-will status.

  • The duties and obligations of the parties set forth in Section 3-D – Compensation Upon Termination, Section 8 – Record Retention and Inspection, Section 10 – Confidential Information and Section 14 – Indemnification shall survive the expiration or termination of this Agreement.

  • It is understood and agreed that any unauthorized use of Company proprietary or confidential information under this provision voids the Company’s obligation to provide Compensation Upon Termination as described in Section 9 of the Agreement.

Related to Compensation Upon Termination

  • Termination Upon a Change in Control means a termination of Officer’s employment with Corporation within 12 months following a “Change in Control” that constitutes a Termination Other Than For Cause described in Section 2.1(b).

  • Termination Compensation means a monthly cash amount equal to one-twelfth (1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Compensation Accrued at Termination means the following:

  • Good Reason Termination means a termination of employment or service initiated by the Participant upon or after a Change of Control upon one or more of the following events:

  • Employment Termination means the effective date of: (i) Employee’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Employee’s employment by the Company without Cause.