Common use of Termination For Cause or by Executive Without Good Reason Clause in Contracts

Termination For Cause or by Executive Without Good Reason. The employment of the Executive may be terminated by the Company at any time for Cause or by Executive without Good Reason. If, during the Term, the employment of the Executive is terminated by the Company for Cause or by Executive without Good Reason, the Executive shall receive, within 30 days of such termination, base salary provided for in Section 4 as then in effect, accrued through the date of termination. Upon such termination, all other benefits under this Agreement (except indemnification under Section 21) shall lapse, expire and be forfeited; provided that Executive shall also be paid any bonus pursuant to Section 5 earned with respect to any previously completed Fiscal Year which remains unpaid as of such date of termination and any amounts to which Executive may be entitled pursuant to the plans, policies and practices of the Company then in effect.

Appears in 2 contracts

Samples: Agreement (Loehmanns Holdings Inc), Agreement (Loehmanns Holdings Inc)

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Termination For Cause or by Executive Without Good Reason. The employment of the Executive may be terminated by the Company at any time for Cause or by Executive without Good Reason. If, during the Term, the employment of the Executive is terminated by the Company for Cause or by Executive without Good Reason, the Executive shall receive, within 30 days of such termination, base salary provided for in Section 4 as then in effect, accrued through the date of termination. Upon such termination, all other benefits under this Agreement (except indemnification under Section 2119) shall lapse, expire and be forfeited; provided that Executive shall also be paid any bonus pursuant to Section 5 earned with respect to any previously completed Fiscal Year which remains unpaid as of such date of termination and any amounts to which Executive may be entitled pursuant to the plans, policies and practices of the Company then in effect.

Appears in 2 contracts

Samples: Agreement (Loehmanns Holdings Inc), Agreement (Loehmanns Holdings Inc)

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