Common use of Special Termination Right Clause in Contracts

Special Termination Right. Executive shall have the right to terminate his employment hereunder upon 90 days prior written notice to Company at any time within 30 days after (a) the occurrence, during or after the final year of the initial Term, of a Compensation Notice Delinquency or (b) the date on which he is notified pursuant to Section 3.1 hereof of his Base Salary and bonus plan eligibility with respect to any fiscal year of Company commencing after the end of the initial Term of this Agreement. Upon termination of Executive's employment pursuant to this Section, Company shall not be obligated to make any further payments to Executive under this Agreement other than as provided in Section 4.6.

Appears in 3 contracts

Samples: Employment Agreement (Pennsylvania Real Estate Investment Trust), Employment Agreement (Pennsylvania Real Estate Investment Trust), Employment Agreement (Pennsylvania Real Estate Investment Trust)

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Special Termination Right. Executive shall have the right to terminate his employment (within the meaning of Section 4.8 hereof) hereunder upon 90 calendar days prior written notice given to Company at any time within 30 10 calendar days after (ai) the occurrence, during or after the final year of the initial Term, occurrence of a Compensation Notice Delinquency or (bii) the date on which he is notified pursuant to Section 3.1 hereof of his Base Salary and bonus plan eligibility with respect to any fiscal year of Company commencing after the end of the initial Term of this AgreementCompany. Upon termination of Executive's ’s employment pursuant to this Section, Company shall not be obligated to make any further payments to Executive under this Agreement other than as provided in Section 4.64.6 hereof.

Appears in 2 contracts

Samples: Employment Agreement (Pennsylvania Real Estate Investment Trust), Employment Agreement (Pennsylvania Real Estate Investment Trust)

Special Termination Right. Executive shall have the right to terminate (within the meaning of Section 4.8 hereof) his employment hereunder upon 90 calendar days prior written notice to Company given at any time within 30 10 calendar days after (ai) the occurrence, during or after the final year of the initial Term, occurrence of a Compensation Notice Delinquency or (bii) the date on which he is notified pursuant to Section 3.1 hereof of his Base Salary and bonus plan eligibility with respect to any fiscal year of Company commencing after the end of the initial Term of this AgreementCompany. Upon termination of Executive's ’s employment pursuant to this Section, Company shall not be obligated to make any further payments to Executive under this Agreement other than as provided in Section 4.64.6 hereof.

Appears in 2 contracts

Samples: Employment Agreement (Pennsylvania Real Estate Investment Trust), Employment Agreement (Pennsylvania Real Estate Investment Trust)

Special Termination Right. Executive shall have the right to terminate his employment hereunder upon 90 days prior written notice to Company at any time within 30 days after (a) the occurrence, occurrence during or after the final year of the initial Term, Term of a Compensation Notice Delinquency or (b) the date on which he is notified pursuant to Section 3.1 hereof of his Base Salary and bonus plan eligibility with respect to any fiscal year of Company commencing after the end of the initial Term of this Agreement. Upon termination of Executive's employment pursuant to this Section, Company shall not be obligated to make any further payments to Executive under this Agreement other than as provided in Section 4.6.

Appears in 1 contract

Samples: Employment Agreement (Pennsylvania Real Estate Investment Trust)

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Special Termination Right. Executive shall have the right to terminate his employment (within the meaning of Section 4.8 hereof) hereunder upon 90 calendar days prior written notice given to Company at any time within 30 10 calendar days after (ai) the occurrence, during or after the final year of the initial Term, of a Compensation Notice Delinquency or (bii) the date on which he is notified pursuant to Section 3.1 hereof of his Base Salary and bonus plan eligibility with respect to any fiscal year of Company commencing after the end of the initial Term of this AgreementCompany. Upon termination of Executive's ’s employment pursuant to this Section, Company shall not be obligated to make any further payments to Executive under this Agreement other than as provided in Section 4.64.6 hereof.

Appears in 1 contract

Samples: Employment Agreement (Pennsylvania Real Estate Investment Trust)

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