Common use of Cessation Clause in Contracts

Cessation. If Executive violates any provision of Section 8 of this Agreement or the Employee Proprietary Information and Inventions Agreement and Executive fails to correct such violation within ten (10) days after Executive is given written notice by the CEO or the Board, as appropriate, then any severance payments or other benefits being provided to Executive will cease immediately, and Executive will not be entitled to any further compensation from the Company.

Appears in 6 contracts

Samples: Key Employee Agreement (Watson Pharmaceuticals Inc), Key Employee Agreement (Watson Pharmaceuticals Inc), Key Employee Agreement (Watson Pharmaceuticals Inc)

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Cessation. If Executive violates any provision of Section 8 of this Agreement or the Employee Proprietary Information and Inventions Agreement and Executive fails to correct such violation within ten (10) days after Executive is given written notice by the CEO or the Board, as appropriateDesignated Officer, then any severance payments or other benefits being provided to Executive will cease immediately, and Executive will not be entitled to any further compensation from the Company.

Appears in 4 contracts

Samples: Key Employee Agreement (Watson Pharmaceuticals Inc), Key Employee Agreement (Watson Pharmaceuticals Inc), Key Employee Agreement (Watson Pharmaceuticals Inc)

Cessation. If Executive violates any provision of Section 8 of this Agreement or the Employee Proprietary Information and Inventions Agreement and Executive fails to correct such violation within ten (10) days after Executive is given written notice by the CEO or the Board, as appropriate, then any severance payments or other benefits being provided to Executive will cease immediately, and Executive will not be entitled to any further compensation from the Company.

Appears in 1 contract

Samples: Key Employee Agreement (Watson Pharmaceuticals Inc)

Cessation. If Executive violates any provision of Section 4.3 or Section 8 of this Agreement or the Employee Proprietary Information and Inventions Agreement and Executive fails to correct such violation within ten (10) days after Executive is given written notice by the CEO or the Board, as appropriateDesignated Officer, then any severance payments or other benefits being provided to Executive will cease immediately, and Executive will not be entitled to any further compensation from the Company.

Appears in 1 contract

Samples: Key Employee Agreement (Watson Pharmaceuticals Inc)

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Cessation. If Executive violates any provision of Section 8 of this Agreement or the Employee Proprietary Information and Inventions Agreement and Executive fails to correct such violation within ten (10) days after Executive is given written notice by the CEO or the Board, as appropriateCEO, then any severance payments or other benefits being provided to Executive will cease immediately, and Executive will not be entitled to any further compensation from the Company.

Appears in 1 contract

Samples: Key Employee Agreement (Watson Pharmaceuticals Inc)

Cessation. If Executive violates any provision of Section 8 of this Agreement or the Employee Proprietary Information and Inventions Agreement and Executive fails to correct such violation within ten (10) days after Executive is given written notice by the CEO or the Board, as appropriateBoard specifying such failure in detail, then any severance payments or other benefits being provided to Executive (including, without limitation, the continued vesting of certain Awards as provided in Sections 6.3, 6.4, 6.5 and 6.8) will cease immediately, and Executive will not be entitled to any further compensation from the Company.

Appears in 1 contract

Samples: Key Employee Agreement (Watson Pharmaceuticals Inc)

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