Agreement by the Employer Sample Clauses

Agreement by the Employer. Prior to the execution of this Agreement, Employer will pay Executive all Base Salary and for the value of all unused vacation earned through the date of termination. Employer will also pay Executive for any Target Bonus awarded by the Board of Directors but not yet paid. In exchange for Executive’s agreement to the releases and other terms and conditions of this Agreement, the Employer agrees to provide Executive, after the Effective Date (as defined below) of this Agreement, a total gross lump sum payment of $ , which is equal to (a) 2 years of his Base Salary based upon his current Base Salary of $ ; (b) plus $ , which is equal to either (i) the average of the yearly cash bonus amounts received by Executive in each of the 3 years preceding the Termination Date; or alternatively and as applicable (ii) if the Termination Date is fewer than 3 years from the date on which Executive became Chief Executive Officer, the Target Bonus. (Insert other benefits if applicable.]
Sample 1
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Agreement by the Employer. Prior to the execution of this Agreement, Employer will pay Executive all Base Salary and for the value of all unused vacation earned through the date of termination. Employer will also pay Executive for any Target Bonus awarded by the Board of Directors but not yet paid. In exchange for Executive's agreement to the releases and other terms and conditions of this Agreement, the Employer agrees to provide Executive, after the Effective Date (as defined below) of this Agreement, a total gross lump sum payment of $________________, which is equal to (a) 2 years of his Base Salary based upon his current Base Salary of $_____________; (b) plus $_________________, which is equal to either (i) the average of the yearly cash bonus amounts received by Executive in each of the 3 years preceding the Termination Date; or alternatively and as applicable (ii) if the Termination Date is fewer than 3 years from the date on which Executive became Chief Executive Officer, the Target Bonus. [Insert other benefits if applicable.]
Sample 1

Related to Agreement by the Employer

  • Assignment by the Executive This Agreement will inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees. If the Executive dies while any amount would still be payable to him hereunder had he continued to live, all such amounts, unless otherwise provided herein, will be paid in accordance with the terms of this Agreement to the Executive’s Beneficiary. If the Executive has not named a Beneficiary, then such amounts will be paid to the Executive’s devisee, legatee, or other designee, or if there is no such designee, to the Executive’s estate, and such designee, or the Executive’s estate will be treated as the Beneficiary hereunder.

  • By the Employer The Employer may terminate the Executive’s employment:

  • Termination by the Employer The Employer may terminate the Employment Period (i) immediately upon the delivery of a Notice of Termination (as defined in Section 4.01(d) of this Agreement) by the Employer to the Executive setting forth the facts that indicate that a determination has been made that the Executive has a Disability in accordance with Section 4.02 of this Agreement; (ii) immediately upon delivery of a Notice of Termination by the Employer to the Executive setting forth the facts that indicate that an event constituting Cause (as defined in Section 4.03 of this Agreement) has occurred, or on such later date as may be set forth in such Notice of Termination; or (iii) at any time without Cause effective as of the 30th day following the delivery of a Notice of Termination by the Employer to the Executive, or on such later date as may be set forth in such Notice of Termination.

  • Employment by the Company Executive agrees to be employed by the Company during the Term upon the terms and subject to the conditions set forth in this Agreement. Executive shall serve as an executive of the Company and shall have such duties as may be prescribed by the Company and shall serve in such other and/or additional position(s) as the Company may determine from time to time.

  • Termination by the Executive The Executive may terminate employment hereunder at any time for any reason, including but not limited to, Good Reason. For purposes of this Agreement, “Good Reason” shall mean that the Executive has completed all steps of the Good Reason Process (hereinafter defined) following the occurrence of any of the following events without the Executive’s consent (each, a “Good Reason Condition”):

  • Termination by the Employee The Employee may terminate this Agreement at any time, for any reason or for no reason at all, by giving notice thereof to the Corporation at least thirty (30) days before the effective date of such termination. The Employment Period shall terminate as of the date of such termination of employment.

  • By the Employee This Agreement and the obligations created hereunder may not be assigned by the Employee, but all rights of the Employee hereunder shall inure to the benefit of and be enforceable by his heirs, devisees, legatees, executors, administrators and personal representatives.

  • By the Executive The Executive may terminate the Employment at any time with a three-month prior written notice to the Company or by payment of three months’ salary in lieu of notice. In addition, the Executive may resign prior to the expiration of the Agreement if such resignation or an alternative arrangement with respect to the Employment is approved by the Board.

  • Assignment by the Company The rights, interests or obligations of the Company hereunder may not be assigned, by operation of law or otherwise, in whole or in part, by the Company without the prior written consent of the Investor.

  • Resignation by the Executive Executive may voluntarily resign from his employment with the Company, provided that Executive shall provide the Company with thirty (30) days advance written notice (which notice requirement may be waived, in whole or in part, by the Company in its sole discretion) of his intent to resign. If Executive so terminates his employment with the Company, other than in accordance with Section 4.5, the Company shall have no obligation other than the payment of the Accrued Obligations to the effective date of such termination.

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