Common use of Termination for Cause; Resignation Clause in Contracts

Termination for Cause; Resignation. If, during the Employment Period and prior to a Change of Control, Executive's employment is terminated by the Company for Cause, or if Executive resigns from his employment, then Executive shall be entitled only to payment of all amounts including benefits earned or owed to Executive and only to such equity compensation as is fully vested as of the Termination Date.

Appears in 7 contracts

Samples: Employment Agreement (Pinnacle Micro Inc), Employment Agreement (Pinnacle Micro Inc), Employment Agreement (Pinnacle Micro Inc)

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Termination for Cause; Resignation. If, during If the Employment Period and prior to a Change of Control, Executive's employment is terminated by for Cause during the Company for Cause, Employment Period or if the Executive resigns from his employment, this Agreement (other than the restrictions set forth in Section 6) shall terminate and the Company shall not have any further obligations to the Executive, other than the obligation to pay to the Executive his Annual Base Salary through the Date of Termination to the extent then Executive shall be entitled only to payment of all amounts including benefits earned or owed to Executive and only to such equity compensation as is fully vested as of the Termination Dateunpaid.

Appears in 1 contract

Samples: Employment Agreement (Us Bancorp \De\)

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