Termination With Compensation. If Executive’s employment is terminated for any of the following reasons, Executive shall be entitled by virtue of this Agreement to the benefits provided in the foregoing Section 5 as follows:
Termination With Compensation. The Bank shall have the right to terminate the Employment term without cause at any time by giving Employee 60 days notice of the termination date. Under such circumstances, the Bank shall continue to pay to Employee based upon the Salary at time of notice of termination earned in the prior year and provide to Employee the Fringe Benefits which it is permitted by law to provide through the earlier of: (i) the end of the Employment Term; or (ii) twelve (12) months after such date of termination. Such period is referred to herein as the "Pay-Out Period" and the Salary and the Fringe Benefits to be provided under this Section 6 are referred to herein as the "Termination Compensation". As of the termination date, the Bank shall not have any further liability or obligation to Employee other than to continue providing the Termination Compensation for the period specified in this Section 6. Employee shall not be entitled to any Termination Compensation unless Employee executes and delivers to the Bank after a notice of termination a release in a form satisfactory to the Bank in its reasonable discretion by which Employee releases the Bank from any obligations and liabilities of any type whatsoever, except for the Bank's obligations with respect to the Termination Compensation. The parties hereto acknowledge that the Termination Compensation to be provided under this Section 6 is to be provided in consideration for the above-specified release.
Termination With Compensation. In the event that: (1) FII terminates the employment of the Executive for any reason; or (2) the Executive terminates employment with FII for any reason, and, in each case, such termination does not entitle the Executive to compensation or benefits under this Agreement and the Executive is entitled to compensation or benefits under another arrangement with FII (excluding for this purpose, any payments or distributions from or related to any tax-qualified retirement plan maintained for the benefit of the Executive), then the provisions of Section 2.2 and Section 2.3 shall apply to the Executive during the term of this Agreement and following the Executive’s termination of employment for the period of time equal to the greater of: (i) the period of time during which the Executive is receiving any compensation or benefits from FII (excluding for this purpose, any payments or distributions from or related to any tax-qualified retirement plan maintained for the benefit of the Executive); or (ii) the six-month period following the Executive’s termination of employment.
Termination With Compensation. In the event that: (1) Financial Institutions terminates the employment of the Executive for any reason; or (2) the Executive terminates employment with Financial Institutions for any reason, and, in each case, such termination does not entitle the Executive to compensation or benefits under this Agreement and the Executive is entitled to compensation or benefits under another arrangement with Financial Institutions (excluding for this purpose, any payments or distributions from or related to any tax-qualified retirement plan maintained for the benefit of the Executive), then the provisions of Section 4.2 and Section 4.3 shall apply to the Executive during the term of this Agreement and following the Executive’s termination of employment for the period of time equal to the greater of: (i) the period of time during which the Executive is receiving any compensation or benefits from Financial Institutions (excluding for this purpose, any payments or distributions from or related to any tax-qualified retirement plan maintained for the benefit of the Executive); or (ii) the six-month period following the Executive’s termination of employment.
Termination With Compensation. 5.1 At any time prior to a “Change of Ownership or Control” of Cache (as defined herein), Cache shall have the right to terminate Executive’s employment at any time without cause by giving Executive 30 days’ notice of the termination date. In the event that Executive’s employment is terminated pursuant to this Section 5.1, Cache shall continue to pay Executive the salary then in effect for the balance of the term of this Agreement, less withholdings and other applicable payroll deductions as required by law, in accordance with Cache’s normal pay cycle. However, Executive shall not be entitled to any compensation under this Section 5.1 unless Executive executes and delivers to Cache after notice of termination a general release acceptable to Cache by which Executive releases Cache from any obligations and liabilities of any type whatsoever, except for Cache’s obligation to provide the salary specified herein. The parties acknowledge that the salary to be provided under this Section 5.1 is in consideration for the above-referenced release. Upon any termination under this Section 5.1, Cache shall have no further obligation to Executive, his executor, administrators, heirs, assigns or any other persons claiming under or through him other than to pay to Executive the salary specified in this Section 5.1 in exchange for the above-referenced release. Executive agrees that any compensation he is to receive pursuant to this Section 5.1 shall be reduced by any compensation Executive receives in connection with any employment position Executive assumes subsequent to his termination date. Executive further agrees that, immediately upon his acceptance of any such employment position, he will notify Cache, in writing, of his employment position and the compensation associated with that position so that Cache may reduce the payments to be made to Executive, in accordance with this Section 5.1.
Termination With Compensation. The Company shall have the right to terminate the Employment Term without cause at any time by giving the Employee 30 days' notice of the termination date. In addition, notwithstanding Section 4(d), the Employee may voluntarily terminate his employment with the Company for "good reason" during the one-year period following a Change of Control by giving the Company at least 60 days' notice of the termination date. If the Company terminates the Employment Term pursuant to this Section 5 prior to the occurrence of a Change of Control or after the one-year period following the occurrence of a Change of Control, the Company shall continue to pay to the Employee an amount equal to his Salary, payable in equal installments over the twelve-month period following the termination date. If the Company or the Employee terminates the Employment Term pursuant to this Section 5 during the one-year period following the occurrence of a Change of Control, the Company shall continue to pay to the Employee an amount equal to the sum of his Salary and the targeted Bonus for the year in which the termination date occurs, payable in equal installments over the twelve-month period following the termination date. For purposes of this Section 5, "good reason" shall mean that the Employee experiences a substantial reduction in his total compensation (i.e., the sum of his Salary and potential Bonus) and/or a major change in his reporting relationship. For purposes of this Section 5, "Change of Control" shall have the same meaning as in the Stock Option Plan. 5 The amount to be paid under this Section 5 is referred to herein as the "Termination Compensation." The Employee shall not be entitled to any Termination Compensation unless the Employee executes and delivers to the Company after a notice of termination a release in a form satisfactory to the Company in its sole discretion by which the Employee releases the Company from any obligations and liabilities of any type whatsoever under this Agreement, except for the Company's obligations with respect to the Termination Compensation. The parties hereto acknowledge that the Termination Compensation to be provided under this Section 5 is to be provided in consideration for the above-specified release.
Termination With Compensation. Tufco shall have the right to terminate the Employment Term without cause at any time by giving the Employee 30 days' notice of the termination date. Under such circumstances, Tufco shall continue to pay to the Employee the Salary then in effect for the remainder of the initial term or any renewal term then in effect; provided however, that the Employee shall not be entitled to any compensation under this Section 7 unless the Employee executes and delivers to Tufco after a notice of termination a release in a form satisfactory to Tufco by which the Employee releases Tufco from any obligations and liabilities of any type whatsoever, except for Tufco's obligation to provide the Salary specified in this Section 7. The parties hereto acknowledge that the Salary to be provided under this Section 7 is to be provided in consideration for the above-specified release. Upon any termination under this Section 7, Tufco shall not have any obligation to the Employee, his executors, administrators, heirs, assigns or any other person claiming under or through him other than to pay to the Employee the Salary specified in this Section 7 in exchange for the above-mentioned release.
Termination With Compensation. The Company shall have the right to terminate the Agreement without cause any time by giving the Executive one year's notice of the termination date. Under such circumstances, the Company shall pay any unpaid Basic Compensation and Bonuses, if any, that have accrued through the date of termination, and shall continue to pay to the Executive the Basic Compensation which accrues for one year following the termination date (the "Termination Compensation"), and the Company shall have no other liability or obligation to the Executive. The Executive shall not be entitled to any Termination Compensation unless the Executive executes and delivers to the Company a release, in a form satisfactory to the Company, whereby the Executive releases the Company from any obligations and liabilities of any type with exception to the Termination Compensation as provided herein. The Termination Compensation shall be provided in consideration for the above-specified release.
Termination With Compensation. 5.1 Cache shall have the right to terminate Executive's employment at any time without Cause by giving Executive thirty (30) days' prior written notice of the termination date. Executive shall have the right to terminate his employment for Good Reason by giving Cache thirty (30) days' prior written notice. "
Termination With Compensation. 5.1 Cache shall have the right to terminate Executive's employment at any time
