Effect of Non-Renewal. In the event that the Company gives notice of its election not to extend the Initial Term or any Renewal Period pursuant to Section 2 above, the Executive shall be entitled to payments and benefits described in Section 10(b)(ii) above commencing on the Expiration Date subject to his execution and delivery of a general release substantially in the form attached hereto as Exhibit A.
Effect of Non-Renewal. In the event that the Company gives notice of its election not to extend the Term of the Agreement for a Renewal Period pursuant to Section 2 above, the Company shall continue to pay the Executive full compensation as defined in Section 3 of this Agreement from the date the Executive receives such notice through the Expiration Date. The Executive shall not be entitled to any additional compensation other than any payments or benefits due under Company policies or benefit plans.
Effect of Non-Renewal. If the Employee receives written election not to renew from the Company in accordance with paragraph 3 at least sixty (60) days prior to the beginning of the calendar year containing the Termination Date (or, if applicable, any subsequent anniversary of the Termination Date), then the Agreement shall expire upon the Termination Date or such other date as the parties may agree to in writing. After receipt of written election not to renew from the Company, the Employee may elect to treat such failure to renew as notice of termination by delivering written notice to the Company within thirty (30) calendar days thereafter. This election to treat a failure to renew as a notice of termination shall not affect the Period of Employment unless the parties agree otherwise in writing. Unless the parties agree otherwise in writing, the effective date of the notice of termination shall be the date of delivery of such election to the Company. Upon the effective date of a notice of termination under this subparagraph 10.1, the Company may request the Employee to, and if requested, the Employee shall continue to perform his or her duties as set forth in this Agreement for a period not to exceed three (3) months from the effective date of notice of termination. In addition to such period, the Employee shall be reasonably available for a period of nine (9) additional months for advice and consultation as requested by the Company. The Employee shall be entitled to receive all salary and benefits to which the Employee is entitled under this Agreement until the applicable Termination Date; provided, however, that in the event the Employee obtains other employment during the period prior to the Termination Date, then the amount of base salary due hereunder shall be decreased by the salary and benefits received by the Employee attributable to other employment during such period. However, if the Company gives the Employee a written election not to renew and simultaneously or subsequently terminates the Employee for Cause in accordance with subparagraph 10.3, the Employee’s termination shall be governed by subparagraphs 10.3 and 10.4, and not by this subparagraph.
Effect of Non-Renewal. In the event the Company elects not to renew this Agreement as contemplated in Section 1 above, the Executive shall receive a cash payment equal to one (1) times the sum of: (i) the Executive’s Annual Salary in effect on the day of expiration of the Term and (ii) the average of the sum of the two previous Annual Bonuses and Long-Term Bonuses received by the Executive as provided for in Section 3.2, or, in the event the Executive has received only one Annual Bonus and one Long-Term Bonus pursuant to Section 3.2 at the time of such termination, an amount equal to the sum of such Annual Bonus and Long-Term Bonus, or, in the event the Executive has not received any Annual Bonus or Long-Term Bonus pursuant to Section 3.2 at the time of such termination, an amount equal to the sum of the Annual Bonus and Long-Term Bonus the Executive would have received under Section 3.2 if the Executive would have remained employed through the period required to be entitled to receive the Annual Bonus and Long-Term Bonus and satisfied all target performance objectives, payable no later than 30 days after such termination (or, if later, as soon as practicable, but in no event more than 30 days after the amount is reasonably capable of being known).
Effect of Non-Renewal. In the event that the Company issues a notice of non-renewal under Section 1 hereof prior to the expiration of the initial Employment Period, the Executive shall be entitled to receive from the Company an amount equal to his initial Base Salary ($260,000) for a period of two years following said initial Employment Period payable in equal monthly installments one-twelfth of said Base Salary on the first day of each month following said initial Employment Period.
Effect of Non-Renewal. In the event the Company elects not to renew this Agreement as contemplated in Section 1 above and as a result the Executive has a Separation from Service, the Executive shall receive a cash payment equal to one (1) times the sum of: (i) the Executive’s Annual Salary in effect on the day of expiration of the Term and (ii) the average of the sum of the two previous Annual Bonuses and Long-Term Bonuses received by the Executive pursuant to Section 3.2, or, in the event the Executive has received only one Annual Bonus and one Long-Term Bonus pursuant to Section 3.2 at the time of such Separation from Service, an amount equal to the sum of such Annual Bonus and Long-Term Bonus, or, in the event the Executive has not received any Annual Bonus or Long-Term Bonus pursuant to Section 3.2 at the time of such Separation from Service, an amount equal to the sum of the Annual Bonus and Long-Term Bonus the Executive would have received under Section 3.2 if the Executive would have remained employed through the period required to be entitled to receive the Annual Bonus and Long-Term Bonus and satisfied all target performance objectives, payable no later than 30 days after such Separation from Service (or, if later, as soon as practicable, but in no event after the earlier of (x) 30 days after the amount is reasonably capable of being known and (y) the date that is 2 ½ months after the end of the calendar year in which the Separation from Service occurs).
Effect of Non-Renewal. In the event that the Company gives notice of its election not to extend the Term of the Agreement for a Renewal Period pursuant to Section 2 above, such non-renewal shall not be considered a termination without Cause or an event constituting Good Reason, and the Company shall continue to pay the Executive full compensation as defined in Section 3 of this Agreement from the date the Executive receives such notice through the Expiration Date. The Executive shall not be entitled to any additional compensation upon such a non-renewal other than any payments or benefits due under Company policies or benefit plans.
Effect of Non-Renewal. In the event that the Company fails to offer Executive to renew the terms of this Agreement for at least one (1) year following the end of the Term at a salary level at least equal to Executive's then current base salary, the Company shall pay Executive an amount equal to Executive's then current base salary for one (1)
Effect of Non-Renewal of This Agreement Any contract in existence at the termination of this Agreement (whether such termination is caused by expiration, breach, or otherwise), made and entered into by us with local unions, members of the Federation, licensed booking agents, personnel managers, producers, symphony associations, or others, for the employment and rendition of services covered by this Agreement, shall not impose any obligation to render further musical services for us unless this Agreement is not renewed or a new one is not entered into. Employees covered by this Agreement may, at their option, render services to any others without obligation or liability to us.
Effect of Non-Renewal. In the event that Employee remains in the employment of Employer at the end of the Term of Employment and either this Agreement is not renewed at the expiration of the Term of Employment or the parties do not enter into a new employment agreement, then CBH shall elect, in its sole discretion, on or before the last day of the Term of Employment, one of the following, and the Employee agrees to be bound by such election:
