Common use of Improper Termination Clause in Contracts

Improper Termination. In the event of the Executive's termination by the Company for any reason other than for Cause or the death of the Executive, Executive shall continue to be paid, as severance pay, an amount equal to his salary at the time of termination until the later of: (i) the end of twelve months from the Commencement Date or (ii) 180 calendar days from the date of the termination. Except for the severance pay, the Company shall not have any further obligations hereunder except for (a) obligations occurring prior to the date of termination, and (b) obligations, promises or covenants contained herein which are expressly made to extend beyond the term of the Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Unicorp Inc /New), Employment Agreement (Unicorp Inc /New)

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Improper Termination. In the event of the Executive's termination by the Company for any reason other than for Cause or the death of the Executive, Executive shall continue to be paid, as severance pay, an amount equal to his salary at the time of termination until the later earlier of: (i) the end of twelve months from the Commencement Date Employment Term, or (ii) 180 60 calendar days from the date of the termination. Except for the severance pay, pay the Company shall not have any further obligations hereunder except for (a) obligations occurring prior to the date of termination, and (b) obligations, promises or covenants contained herein which are expressly made to extend beyond the term of the Agreement.

Appears in 1 contract

Samples: Employment Agreement (Unicorp Inc /New)

Improper Termination. In the event of the Executive's termination by the Company for any reason other than for Cause or the death of the Executive, Executive shall continue to be paid, as severance pay, an amount equal to his salary at the time of termination until the later earlier of: (i) the end of twelve months from the Commencement Date Employment Term, or (ii) 180 90 calendar days from the date of the termination. Except for the severance pay, pay the Company shall not have any further obligations hereunder except for (a) obligations occurring prior to the date of termination, and (b) obligations, promises or covenants contained herein which are expressly made to extend beyond the term of the Agreement.

Appears in 1 contract

Samples: Employment Agreement (Unicorp Inc /New)

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Improper Termination. In the event of the Executive's termination by the Company for any reason other than for Cause or the death of the Executive, Executive shall continue to be paid, as severance pay, an amount equal to his salary at the time of termination until the later of: (i) the end of twelve months from the Commencement Date date of hire, or (ii) 180 calendar days from the date of the termination. Except for the severance pay, the Company shall not have any further obligations hereunder except for (a) obligations occurring prior to the date of termination, and (b) obligations, promises or covenants contained herein which are expressly made to extend beyond the term of the Agreement.

Appears in 1 contract

Samples: Employment Agreement (Unicorp Inc /New)

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