Termination By the Company For Any Other Reason Sample Clauses

Termination By the Company For Any Other Reason. In the event that the Employee's employment hereunder is terminated by the Company during the Employment Period for any reason other than as provided in Sections 11.2 or 11.3 hereof, then the Company shall pay to the Employee, (i) within thirty (30) days of the date of such termination, the Base Salary through such date of termination, (ii) the amount of any Bonus payable under the Bonus Plan through such date of termination, which Bonus, if any, shall be payable at the time provided in the Bonus Plan, and (iii) in lieu of any further compensation, benefits or other amounts for the balance of the Employment Period, severance pay equal only to the Base Salary that Executive would have otherwise received during the period beginning on such date of termination and ending on the earlier of (i) the scheduled termination date of the Employment Period under this Agreement and (ii) such time as Employee obtains other permanent employment, which severance pay shall be paid commencing with such date of termination at the times and in the amounts such Base Salary would have been paid.
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Termination By the Company For Any Other Reason. In the event that the Employee's employment hereunder is terminated by the Company during the Employment Period for any reason other than as provided in Sections 11.2 or 11.3 hereof, which shall include, but not be limited to, any termination by the Company due to or arising from a change in control of the Company's common and/or preferred stock ownership and/or a change in the composition of the Board of Directors of the Company such that a majority of the Board of Directors of the Company are not Continuing Directors, then the Company shall pay to the Employee, (i) within thirty (30) days of the date of such termination, the Base Salary through such date of termination, (ii) the amount of any Bonus payable under the Bonus Plan through such date of termination, which Bonus, if any, shall be payable at the time provided in the Bonus Plan, and (iii) in lieu of any further compensation, benefits or other amounts for the balance of the Employment Period, severance pay equal only to the Base Salary that Executive would have otherwise received during the period beginning on such date of termination and ending on the earlier of (i) the scheduled termination date of the Employment Period under this Agreement or (ii) such time as
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Termination By the Company For Any Other Reason. In the event that Executive's employment hereunder is terminated by the Company during the Term for any reason other than as provided in Sections 4(a), (c), or 8 hereof, then the Company shall pay to Executive, 1) commencing with the date of termination of employment and continuing for the balance of the Term, severance pay equal to the Base Salary rate being paid to Executive immediately preceding the termination of employment, (which shall be paid at the times and in the amounts such Base Salary would have been paid if Executive had not been terminated); and 2) promptly following any termination under this sub-paragraph, pay to Executive his targeted bonus for the calendar year at issue (as such Target is established by the Company's then current bonus program) on a pro-rated basis through his last day of employment for such year. Executive shall receive no bonus in any subsequent year of the Term following termination. During the balance of Term following any termination under this sub-paragraph, Executive shall also continue to participate in and receive the medical, Executive medical, dental, and prescription drug insurance (or their substantial equivalents) benefits as provided for in Section 3 hereof to the same extent as if Executive's employment hereunder had not been terminated; provided, however, that notwithstanding anything to the contrary herein, 1) Base Salary severance payments and benefits pursuant to this sub-paragraph shall not be made or provided by the Company for a period exceeding twenty-four months following the termination of employment; and 2) in the event that Executive shall breach any of the provisions of Sections 4, 5, 6 or 7 hereof, in addition to any other remedies the Company may have, the Company's obligation pursuant to this Section 4(d) to pay severance, bonus, and to continue certain benefits shall cease and Executive's rights thereto shall terminate and shall be forfeited and Executive shall promptly reimburse and repay to Company any severance and bonus paid by the Company to Executive subsequent to the date of termination.
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Termination By the Company For Any Other Reason. In the event that Executive's employment hereunder is terminated by the Company during the Term for any reason other than as provided in Sections 4(a), 4(c), or 8 hereof, or in the event the Term is not renewed, Executive shall be entitled to receive the Non-Compete Benefit for the duration of the Non-Compete Term (as such terms are defined in paragraph 5, below) and Executive shall also be paid a bonus solely for the calendar year during which the termination occurs on a pro-rata basis through his last day of employment for such year. For purposes of this paragraph, the pro-rata bonus shall be based on a maximum bonus opportunity equal to Executive's Base Salary for the year of termination. Executive shall also receive pay for any unused vacation or sick days, consistent with the Company's payroll records and the Company shall assume responsibility for any automobile lease for the vehicle rented by Executive as his Company car. During the balance of the remaining Term following any termination under this sub-paragraph, and during any Non Compete Term Executive shall participate in and receive the medical, Executive Medical, dental, and prescription drug insurance; benefits as provided for in Section 3 hereof to the same extent as if Executive's employment hereunder had not been terminated; provided, however, that notwithstanding anything to the contrary herein, in the event that Executive shall breach any of the provisions of Sections 4, 5, 6 or 7 hereof, in addition to any other remedies the Company may have, the Company's obligation pursuant to this Agreement to pay the Non-Compete Benefit, and to continue certain benefits and perquisites shall cease and Executive's rights thereto shall terminate.
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Related to Termination By the Company For Any Other Reason

  • Termination by the Company Other than for Cause (1) The foregoing notwithstanding, the Company may terminate the Executive's employment for whatever reason it deems appropriate; provided, however, that in the event such termination is not based on Cause, as provided in Section 6(c) above, the Company may terminate this Agreement upon giving three (3) months' prior written notice. During such three (3) month period, the Executive shall continue to perform the Executive's duties pursuant to this Agreement, and the Company shall continue to compensate the Executive in accordance with this Agreement. The Executive will receive, at the Executive's option, either (A) a lump sum equal to the "Compensation and Benefits," as hereinafter defined, for the remaining balance of the Term of this Agreement, at the then current rate, reduced to present value, as set forth in Section 280G of the Internal Revenue Code or (B) for the remaining balance of the Term of this Agreement from and after the date of any such termination, the Company shall on the last day of each calendar month pay to the Executive such "Compensation and Benefits," which shall be an amount equal to (Y) One Hundred percent (100%) of the Executive's compensation and benefits set forth in Section 5, which shall specifically include the Base Salary and Executive Benefits (the "Compensation and Benefits"), on the date of any such termination, divided by (Z) twelve (12); provided, however, that if (A) there is a decrease in the Executive's Compensation and Benefits of more than five (5%) percent prior to termination for any reason other than for "Cause", and (B) the Executive is terminated without cause, the Compensation and Benefits shall be as existed immediately prior to such a decrease. The Executive will be entitled to continued Compensation and Benefits coverage and credits as provided in Section 5 or to reimbursement for the cost of providing the Executive with comparable benefit coverage during the term in which the Executive is receiving payments from the Company after termination pursuant to Section 6(d). Such benefit coverage will be offset by comparable coverage provided to the Executive in connection with subsequent employment.

  • Termination by the Company for Cause or by the Executive without Good Reason The Company may terminate the Executive’s employment pursuant to the terms of this Agreement at any time for Cause (as defined below) by giving the Executive written notice of termination. Such termination shall become effective upon the giving of such notice. Upon any such termination for Cause, or in the event the Executive terminates his employment with the Company without Good Reason (as defined in Section 6(c)), then the Executive shall have no right to compensation, or reimbursement under Section 4, or to participate in any Executive benefit programs under Section 5, except as may otherwise be provided for by law, for any period subsequent to the effective date of termination. For purposes of this Agreement, “Cause” shall mean: (i) the Executive is convicted of, or pleads guilty or nolo contendere to, a felony related to the business of the Company; (ii) the Executive, in carrying out his duties hereunder, has acted with gross negligence or intentional misconduct resulting, in any case, in material harm to the Company; (iii) the Executive misappropriates Company funds or otherwise defrauds the Company including a material amount of money or property; (iv) the Executive breaches his fiduciary duty to the Company resulting in material profit to him, directly or indirectly; (v) the Executive materially breaches any agreement with the Company and fails to cure such breach within 10 days of receipt of notice, unless the act is incapable of being cured; (vi) the Executive breaches any provision of Section 8 or Section 9; (vii) the Executive becomes subject to a preliminary or permanent injunction issued by a United States District Court enjoining the Executive from violating any securities law administered or regulated by the SEC; (viii) the Executive becomes subject to a cease and desist order or other order issued by the SEC after an opportunity for a hearing; (ix) the Executive refuses to carry out a resolution adopted by the Company’s Board at a meeting in which the Executive was offered a reasonable opportunity to argue that the resolution should not be adopted; or (x) the Executive abuses alcohol or drugs in a manner that interferes with the successful performance of his duties.

  • Termination for Any Other Reason The expiration of three (3) months from the date of an Optionee's termination of employment or contractual relationship with the Company or any Related Corporation for any reason whatsoever other than cause, death or Disability (as defined in Section 5(g) of the Plan). Each unvested Option granted pursuant hereto shall terminate immediately upon termination of the Optionee's employment or contractual relationship with the Company for any reason whatsoever, including death or Disability unless vesting is accelerated in accordance with Section 5(f) of the Plan.

  • Termination by the Company for Cause The Executive’s employment under this Agreement may be terminated by the Company for Cause at any time upon written notice to the Executive without further liability on the part of the Company. For purposes of this Agreement, a termination shall be for Cause if:

  • Termination by the Company for Good Cause The Company shall have the right to terminate the employment of the Executive for Good Cause (as such term is defined herein) by written notice to the Executive specifying the particulars of the circumstances forming the basis for such Good Cause.

  • Termination by the Company for Cause; Termination by the Executive without Good Reason (a) For purposes of this Agreement, “

  • Termination by the Company for Just Cause 7.2 The Company may terminate the employment of the Executive under this Agreement summarily, without any notice or any payment in lieu of notice, for Just Cause.

  • By the Company for Cause or by the Executive Without Good Reason If: (i) the Company terminates the Executive’s employment with the Company for “Cause” (as defined below); or (ii) the Executive voluntarily terminates the Executive’s employment without “Good Reason” (as defined below), the Executive shall be entitled to receive the following:

  • Termination by the Company for Cause or by Executive Without Good Reason If Executive’s employment is terminated by the Company for Cause or by Executive without Good Reason, the Company shall pay Executive all amounts earned or accrued hereunder through the termination date, including:

  • Termination by the Company Without Cause or by the Executive with Good Reason During the Term, if the Executive’s employment is terminated by the Company without Cause as provided in Section 3(d), or the Executive terminates his employment for Good Reason as provided in Section 3(e), then the Company shall pay the Executive his Accrued Benefit. In addition, subject to the Executive signing a separation agreement containing, among other provisions, a general release of claims in favor of the Company and related persons and entities, confidentiality, return of property and non-disparagement, in a form and manner satisfactory to the Company (the “Separation Agreement and Release”) and the Separation Agreement and Release becoming fully effective, all within the time frame set forth in the Separation Agreement and Release:

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