No Penalty for Release or Resignation Sample Clauses

No Penalty for Release or Resignation. There shall not be a penalty for the release or resignation of the Superintendent from this contract; provided no resignation shall become effective until the expiration of the contract unless it is accepted by the Board, and the Board shall fix the date at which the resignation shall take effect.
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No Penalty for Release or Resignation. In the event that Xx. Xxxxxxxxx desires to resign his employment hereunder and be released from the terms of this Agreement, the terms for release or resignation by Xx. Xxxxxxxxx from this Agreement shall be subject to the mutual agreement of the parties hereto. In the event such mutual agreement is reached, there shall be no financial penalty assessed as a condition for release or resignation.
Sample 1Sample 2
No Penalty for Release or Resignation. There shall not be a penalty for the release or resignation of the Superintendent from this contract; provided no resignation shall become effective until the expiration of the contract unless it is accepted by the Board, and the Board shall fix the date at which the resignation shall take effect. Section 14. Compensation Upon Termination and Credit for Accrued Vacation. Upon lawful termination of this contract for any reason, the compensation to be paid hereunder shall be an amount which bears the same ratio to the annual salary specified as the number of months or fraction thereof to the date of such termination bears to the 12 months in the annual salary period in which termination occurs. The Superintendent shall refund any portion of the salary he was paid but had not earned prior to the date of termination of this contract. He shall be paid for any unused vacation days at the daily compensation rate then in effect at the termination of employment. Section 15. Evaluation. The Board shall evaluate the Superintendent once during the 2020-2021 school year. The evaluation shall occur no later than the regular December meeting. The Superintendent shall remind the Board members in writing of this provision no later than its regular November meeting; make his evaluation an agenda item for the regular December board meeting during each year of this contract; and provide them with the written evaluation instrument that is on file with the Nebraska Department of Education.
Sample 1

Related to No Penalty for Release or Resignation

  • Discharge for Cause If the Participant, prior to the Final Exercise Date, is discharged by the Company for “cause” (as defined below), the right to exercise this option shall terminate immediately upon the effective date of such discharge. “Cause” shall mean willful misconduct by the Participant or willful failure by the Participant to perform his or her responsibilities to the Company (including, without limitation, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, non-competition or other similar agreement between the Participant and the Company), as determined by the Company, which determination shall be conclusive. The Participant shall be considered to have been discharged for “Cause” if the Company determines, within 30 days after the Participant’s resignation, that discharge for cause was warranted.

  • Deemed Resignation Upon termination of Executive’s employment for any reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any of its subsidiaries.

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